New Products

In chapter for this week, they discuss the importance of something referred to as a 'new product'. A 'new product' is defined as a product new to the world, the market, the producer, the seller, or some combination of these. In other words, a new product is not necessarily a brand new product concept, but can simply be an already well-known product that a new company has decided to sell for the first time.

No obviously not every single 'new product' is guaranteed to either fail or succeed, however, it is clear that all marketers have a different approach when it comes to a new product. Some like to slowly introduce the product, such as initiating samples here and there, or doing a lot more free trials. Maybe even adding a new product into an old product to promote it, making it eventually successful on it's own one day. While on the other hand, some marketers have been known for just dropping everything and completely devoting their product line to this new idea, leading them so sometimes fail because the product may have inevitable been a failure.

When it comes to introducing a 'new product' into the market place, what is the best way to expose it, with hopes of it being successful? Will it be more successful introduces slowly, or have a greater impact if it is the main idea of a company, or could there be a middle line of how to properly introduce a product so it does not inevitable fluke?