Articles - Newness, value and new product performance
9 important questions on Articles - Newness, value and new product performance
Main reasons for NPD to fial T&K
- economical (incurring costs without adequate revenues)
- relational (adoption depends on the consumer evaluation of the new product in terms of its so-called innovation
characteristics)
What is the difference between the way customers/firms express product innovativeness T&K
Firms: product technology compared with competitors and in terms of the marketing and technological resources required. Customers on the other hand evaluate product newness in terms of the mental models and behavioral habits that needed to be altered.
What is the classification of newness T&K
- Continuous innovations; minimal effect on behavioral patterns
- Dynamically continuous innovations: only require moderate adaptations on existing behavioral patterns
- discontinuous innovations: violate some of existing, aim at creating new behavioral patterns for firm and
consumer
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What forms innovation strategies exist T&K
- low innovativeness ; new product lines, improvements or revisions of existing products or cost reductions
- medium innovativeness: additions to existing product lines and repositioning
- high innovativeness: new to the world products; high levels of newnessness to the company too
How can customer response be split up T&K
Neophobia : The fear for novelty (avoidance of new products)
Neophilia: urge towards novelty and have an tendency towards new products
What does the learning by analogy theory imply? T&K
Categorization and learning by analogy involve a knowledge transfer process from existing knowledge. How consumers interpret such radically new products.
What is the opposing argument of market orientation? T&K
- Relying on marketing intelligence carries the danger of too narrowly focusing on current markets, consumers,
customers and competitors at the expense of focusing on emerging markets and customers.
The key to market success lies in balance between responsiveness and pro activeness evidenced in short-term succes from incremental innovation and long-term success from more radically new innovation
What is the fuzzy front end of the NPD T&K
- Responsive versus proactive approaches; the role that is assigned to customers/consumers in the idea generation and screening stages of the new product development process. It involves all those activities that come before the more formal and well-structured NPD process
What do van Trijp van Kleef conclude?
Newness is not related to market success but that it does so if it provides meaningful differentiation to consumers in the market place to enhance market success. Meaningfulness and newness are two separate sub-dimensions of the creativity construct. There is an optimal level of newness that is preferred by consumers; high enough to induce curiosity and a desire to learn more about the new food, but low enough not to induce fear and neophobia.
In summary, new products which provide consumer relevant differentiation relative to existing market supply have a higher probability of market succes.
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