Product Development Using Line Extensions, Me Too's and Innovative Products Flashcards
1
Q
types of product
A
line extensions
me too
innovative product
2
Q
line extensions
A
○ Relatively minor changes to extend the product range of a companies existing products by incorporating features such as new flavours
§ Reasons for line extensions
□ Increases market share
□ Responds to marketplace trends
Responds to consumer demands
3
Q
me too
A
Are direct copies which make up for 20% of new products and are often cheaper
4
Q
innovative
A
Completely new and different to pre-existing products that have not been on the market before and make up for 10% of new products
