Developing New Market Offerings - Edubirdie

University:
California State University, Northridge
Course:
MKT 304 | Marketing Management
Academic year:

2023
Views:

119

Pages:

4
Author:

Nesbyenvkk

Marketing Management Developing New Market Offerings Learning Objectives 18.1 Explain how companies develop new offerings. 18.2 Explain how companies generate new ideas. 18.3 Describe how companies create and validate a prototype. 18.4 Summarize the key aspects of designing a business model for a new offering. 18.5 Explain how companies implement new offering strategies. 18.6 Discuss the key steps in commercially deploying a new offering. The Process of Developing New Market Offerings (1 of 2) • The innovation imperative – Continuous innovation is a necessity – Incremental innovation vs. new to the world innovation The Process of Developing New Market Offerings (2 of 2) • Managing innovation – Assign responsibility to departments in charge of current offerings – Establish new product departments – Open innovation centers – Establish venture teams ▪ Intrapreneurs – Create forums for sharing ideas – Create cross-functional teams combining different skillsets

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