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Types of new products October 3, 2007

Posted by Coolguy in Design for Six Sigma.
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In the area of new product development, here are some commonly accepted new product terms

  1. New-to-world products : These are inventions and discoveries such as laser printers etc.
  2. New category products : These are products that are not new to the world, but to the company.
  3. Additions to product lines : These are extensions to the company’s existing product line like diet coke.
  4. Product improvements : Improvements to existing products.
  5. Repositioning’ s : Products that are re targeted for new use. Baking soda as a deodorant
  6. Cost Reductions: New products replacing exisitng one’s, with lower cost.
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