Material Whirl

Shulman, Robert S.
March 2006
Marketing Management;Mar/Apr2006, Vol. 15 Issue 2, p25
In this article the author contends that, no matter the economic conditions, there will always be a market for new and innovative consumer products and services. While new products fail at a rate of 90%, successful innovations can add so much to a bottom line that the risks are worth taking. Consumers will try new goods and ideas, things that, for the most part, they see on television. In 2006, however, they were far from satisfied with new products on the market. In order to introduce something the new the author has isolated 5 factors. Companies should make innovation central to their missions. Products must be tested, refined and adjusted to fill a specific need. The wants of consumers must be at the forefront at all times. The product must be strenuously tested. The return on investment must be defined before development. INSET: Most admired new products in 2004.


Related Articles

  • Customer-Centric Innovation. Crosby, Lawrence A.; Johnson, Sheree L. // Marketing Management;Mar/Apr2006, Vol. 15 Issue 2, p12 

    In this article the authors explore the statement made by the famous management and business expert Peter F. Drucker, who said that business success came as a result of marketing and innovation. Marketing can drive innovation, the authors contend, and argue that innovative products can be items...

  • Social networks and customers. Wyner, Gordon // Marketing Management;Dec2010/Jan2011, Vol. 19 Issue 4, p44 

    The article focuses on the perspectives and research on how social networks work and how this may impact the marketing process, particularly on the behavior of customers towards new products. It examines how a consumer become aware and adopt new innovations by virtue of the people he is linked...

  • The Science of Demand. Almquist, Eric; Kon, Martin; Bock, Wolfgang // Marketing Management;Mar/Apr2004, Vol. 13 Issue 2, p20 

    Companies trip up when they try to estimate customer demand through weak market research, extrapolation from the past, or plain instinct. Because of this, most new products fail and most high-volume marketing campaigns generate slim returns. Fortunately, the science of discrete choice modeling...

  • Consumers fail to recognise newer POS formats: study.  // Media: Asia's Media & Marketing Newspaper;7/1/2005, p8 

    The article reports that new research has revealed that traditional in-store advertising formats attract more attention than the newer designs. The latest Sensor study, conducted by MEC's Medialab, polled over 15,000 people in 26 countries, including four Asian markets, Hong Kong, Singapore,...

  • HOT PROJECTS: INSURANCE. Compton, Jason // CRM Magazine;Jul2003, Vol. 7 Issue 7, p51 

    Provides information on SmartStep, a program launched by disability insurer UnumProvident to deliver targeted information on new products to its policyholders. Steps in achieving return on investment in the insurance sector; Aim of the collaboration between UnumProvident and the Grizzard...

  • Enhancements -- show value. Wilson, Bruce // Landscape Management;Feb2006, Vol. 45 Issue 2, p14 

    The article discusses on some guidelines on incorporating product enhancement in marketing strategy. It explains the differences between overselling extra products and selling enhancements of products that would be valuable to customers. It suggest to show customers a significant return for...

  • Customer requirements should define product. Mello, Sheila // Marketing News;03/31/97, Vol. 31 Issue 7, p8 

    The article discusses the necessity of defining market requirements before developing a product. It's important to explain what is meant by market requirements. Market requirements define the needs of the customer or market. Equally as important as having a requirements document in defining...

  • Developing a realistic measure of share loss. Fox, Richard J.; Brittain, Bruce J. // Marketing News;9/13/1985, Vol. 19 Issue 19, p27 

    The article discusses how market researchers can accurately estimate the effect of unannounced product reformulation on market share. Consumers tend to detect the change and prefer the original product or consider the reformulation when a product is reformulated. Some companies decided to use a...

  • NEW PRODUCT ENTRIES AND PRODUCT CLASS DEMAND. Mason, Charlotte H. // Marketing Science;Winter90, Vol. 9 Issue 1, p58 

    Because new products are critical to success and survival, the evaluation of new product ideas receives much attention. In the early stages of product development, concept evaluation models are used to predict market share and/or sales of hypothetical product concepts. These models have focused...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics