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2.1: CATEGORIES OF NEW PRODUCTS
NEW TO THE WORLD PRODUCT:
New products that create an entirely new
market. This category is for those products
that have just been invented. No one knows
how they work. Knowledge about how the
product works need to be share to potential
customers.
Ex: Covid-19’s test kit
NEW PRODUCT LINE:
New products that allow a company to enter
an established market for the first time.
Sometimes companies wish to produce
products that are new to them, but old to the
customers. The markets already exist.
Ex: the dUCk Group launch their product line
which is cosmetics, beside scarf
ADDITION TO THE EXISTING PRODUCT
LINE:
New products that supplement
established product lines (package
sizes, flavors & so on) It is very
common for big companies often
embark on creating products to add to
the existing product lines. They want to
gain more profit.
Ex: Milo launch their choco bar. Their
existing product Milo in powder
