PRODUCT MANAGEMENT PRESENTATION

NEW PRODUCT LAUNCHING STRATEGIES

Krishnan unni T.U S3 MBA

NEW PRODUCT LAUNCH IS.

Crucial aspect Affect success or failure Team based efforts contribute more Innovative approach Eg:microsfoft windows 95

DIFFUSION OF INNOVATION
Developed by Rogers Adopters classified into 5 Innovators,early adopters,early majority,late majority and laggards

Four Elements in Diffusion of Innovations:

Diffusion is a process where: 1) an innovation 2) is communicated through certain channels 3) over time 4) among members of a social system

Innovators
Innovators:
active information-seekers about new ideas. have a high degree of mass media exposure their interpersonal networks extend over a wide area. can cope with higher levels of uncertainty about an innovation than are other adopter categories.

Early adopters
Embraces new technology before most other people do. sooner than most of their peers conceive and develop new methodologies and technologies, and who often end up running large IT corporations or founding new ones. .

EARLY MAJORITY
The first sizable segment of a population to adopt an innovative technology will adopt a new product after seeing used successfully by either "innovators" and "early adopters" that they know personally. less affluent and less educated than innovators and early adopters, but are willing to take a chance with a new product.

Late majority
Adopt a new product only after seeing that the majority of the population already has. People in this segment are typically older, less affluent and less educated than segments that more readily adopt innovating products.

LAGGARDS
which is the last group to try or adopt a new product. It consists largely of seniors, and those with low socioeconomic status. Laggards use friends and neighbors as information sources, dislike change, and accept new things only when forced to

Rate of easy adoption

Relative advantage Compatibility Complexity Trialablity Observability

RATE OF ADOPTION

Launch of types of products

INNOVATIVE IMITATIVE ME TOO

NEW PRODUCT SUCCESS

Often failures because of lack in value Information driven economy Forget customer desires

TO suceeeed
Distinguish Competencies Needs /wants Timely Innovative Ensure customer satisfaction

LAUNCHES IN 2012
Microsoft Unveiled Window 8 in India Apple Launched Smaller Tablet i Pad Mini Maruti Suzuki Launched Alto 800 in India ITC launched Grand Chola a luxury five Star hotel in Chennai Samsung unveiled New Tablet called Galaxy Note 10.1 Tablet in US, Britain and South Korea

 Toshiba launched its new Thinking LED range RZ1 of TV sets Nokia launched Window-based phone Lumia 610 at 12999 rupees Hindustan Unilever launched Pureit Advanced