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Unit 7: New Product Development and Product Life Cycle Strategies

4. ‘Concept testing proves useful in most cases, but in certain cases it may not be appropriate.’ Notes
Discuss any one such case where it may not be appropriate.
5. Examine the importance of test marketing. Can a product skip this stage?

6. What steps would you recommend for generating new product ideas for a car manufacturer?
7. Give relevant examples of certain brands for each stage of the PLC.
8. Determine the PLC of Tata Nano. Give relevant justification for your answer.
9. Describe the strategies used by an airlines brand at different stages of the PLC.

10. Compare and contrast the marketing strategies used by any two brands (from the same
product category) that are at the growth stage of their PLC.

Answers: Self Assessment

1. True 2. True
3. False 4. (b)

5. (b) 6. (b)
7. (a) 8. False
9. True 10. Maturity

11. Negative or very little 12. Skimming
13. Growth 14. Maturity
15. Decline 16. True
17. False

7.9 Further Readings

Books Christopher K. Bart, “Organising for New Product Development,” Journal of
Business Strategy, July-August 1988.
Cooper Robert G and Klein Schmidt, New Product: The Key Factors in Success,
(AMA, 1990).
SHH Kazmi, Marketing Management – Text and Cases, Excel Books.
V S Ramaswami, S Namakumari, Marketing Management, Macmillan, 2003.

Online links http://www.learnmarketing.net/npd.htm
http://www.knowthis.com/principles-of-marketing-tutorials/managing-
products/new-product-development-process

http://www.innovationmanagement.se/2010/10/25/the-need-for-a-new-
product-development-process
http://www.quickmba.com/marketing/product/life cycle/

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