Improved products, new versions or even a color change, can generate a consumer perception of novelty
In how many ways can a new product be considered?
Companies within their expansion or improvement policies constantly launch new products to the markets, the present articles are simply going to number the different ways in which a product can be considered as new.
Product that…
- Perform a new function: A product that performs a function that has not yet existed, is the first and most obvious way of identifying what is new in a product. The technological development little by little generates elements that perform new and complex functions, for example there is the radio that appears as an exploitation of advances in communication, television as an exploitation of advances in audiovisual sciences etc… Perform better: A product that offers better performance of an existing function, such as moving from mechanical watches to electronic watches, or the use of new components in automotive science, such as moving from 1 cylinder to several cylinders… Offer new applications of existing products: It is considered new a a product that, when modified, can be applied in a different sector from its inception.A case may be the aerosol products that were originally used as insecticide products, then applied in industrial sectors such as painting, or for applications on deodorants and different household products. Provide new functions: A product that offers additional functions is considered As new, for example, cell phones offer new and innovative functions every day that serve users, among which we could highlight elements such as on-screen news and even entertainment functions such as games, complementing their initial mobile phone function. new market: It is when a company modifies its position to enter areas where its product did not exist. An example may be International Banks entering new countries,or household appliance brands that are only sold only in certain countries.Changes its cost elements: A product that can reach a greater number of customers due to lower costs. Price can make a product be considered new, thanks to the possible effect on the global demand for the product. Combines: It is when two existing products combine to form a new one. The typical example may be the clock radio or the washer dryer… Low grade: When the internal structure of a product is modified. A case arises when when assembling an item it is decided to change the suppliers of internal parts for their own production or vice versa. Style change: The typical example is the world of fashion or automobiles. Every season a new fashion or model is launched generating new new offers.
As you can guess, in some cases it only takes a little ingenuity to constantly generate launches and expand the range of products available…
Five key points in the success of a new product:
- Superiority: That the product has a relative differentiation advantage over other existing products. Sociability: That the product is compatible with the values of society. Satisfaction: That the product has the capacity to adequately satisfy the customer. Ease: That the product can be clearly assimilated and understood by the client. Speed: That the speed at which the benefit is obtained for obtaining the new product is high.
If the product meets these minimum points, it can be successful…
