Chapter 9 describes the product life cycle. Let’s examine the evolution of the electric car product-market. This market has been slow to take off. Did you know the first electric cars were produced more than 100 years ago? Learn more in “ The fascinating evolution of the electric car ,” (Business Insider February 15, 2017), which describes the various efforts over the last century to develop an electric vehicle. These days the electric car market is changing more quickly thanks in large part to Tesla, an outsider. This new competitor has motivated traditional automakers to put more resources behind electric cars. We are already seeing lower cost [Continue Reading …]
This article in Wired magazine highlights “ The Most Innovative Objects of 2016 (That You’ll Actually Want to Use) ” (December 28, 2016). Look through and read this list of innovative new products. In the “New-Product Planning,” section of chapter 9, we define three categories of new products: continuous innovations, dynamically continuous innovations, and discontinuous innovations. Categorize each of the “Most Innovative Products” in the Wired article using one of these three categories. If necessary, click through to learn more about each. Explain the logic for your classification of each.
More consumer products companies are turning to direct channels of distribution. When Nike’s new (self-lacing) HyperAdapt sneakers were only available through direct channels at launch. Chapter 10 discusses some of the logic for choosing direct and indirect channels. As you read this article, “ Nike’s HyperAdapt DTC Sales Part of Rising ‘See Now, Buy Now’ Trend ” (brandchannel, December 5, 2016) consider the logic for Nike and other brands discussed. The video below features an interview with some of the innovators behind the Nike HyperAdapt auto-lacing shoes. Why did Nike sell HyperAdapt through direct channels of distribution? Do you think this is a good idea or not? Why or why not?
As you know from chapter 9, identifying and developing new-product ideas — and effective strategies to go with them — can be key to a firm’s success and survival. So what do you do if your main product is a sports drink first developed 50 years ago by a team of scientists at the University of Florida after a request from the football coach (the football team is nicknamed the Gators — hence the name Gatorade)? After years of focusing on new flavors and packaging, Gatorade is using technology to personalize its contribution to athletic performance. Read more about Gatorade’s “smart cap” [Continue Reading …]