Sample Essay on Diffusion of New Products

ITEM TYPE REASON CATEGORY
Pink Polka Dot Growth Chart Improvement The growth chart has had a few modifications made to it Baby products
Gold’s Gym Trainer 430 Treadmill, New Model Improvement The trainer is just a new model Training equipment
Vegan Tikka Masala Line extension There are other types of Tikka masala available, with the vegan one being new Spices
Trader Joe’s Cocoa Batons Improvement The item was formerly known as petite cocoa baton. Only the size and packaging has been changed Chocolate
Pitted Dark Sweet Cherries Totally new It was not in the market before Fruit
Organic Coconut Water Totally new The coconut water is a new addition in the organic foods section Organic foods
Half Caff Improvement The half caff is a blend between the medium and decaf coffee Beverages
Uncured Sliced Corned Beef Line extension The corned beef is a new addition in the line of canned meat Meat
Truffle Marcona Almonds Improvement The almonds are a fusion of two blue-blood comestibles Snacks
Chunky Blue Cheese Dressing & Dip Line extension The sauce is a new addition to the line of sauces available, with blue cheese as the first ingredient instead of mayonnaise Sauces

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Marketing

Sample Essay on Diffusion of New Products

Nike is venturing into manufacturing baseball bats for colleges. The new baseball bats will retail at $80. The company aims to engage in contracts with the universities where the baseball bats will be used. The marketing strategy to be used involves incorporating the baseball bats in the delivery of the other sports equipment to schools. Currently, the company has a presence in most of the colleges in America and hence, there is a ready market for the bats. Due to the economies of scale, production costs will be low, and the company is expected to break even in the ensuing four months. In the long term, the bats will be incorporated into the contracts for the supply of other sporting equipment to the colleges.

From a look at Proctor and Gamble’s company website, it is evident that the business has invested heavily in product development. The enterprise has 23 brands with yearly deals of over $1 billion and 14 brands with transavtions of over $500 million. One can conclude that the company only produces products with billion dollar potential. The products also cross all cultures and continents. The company also invests heavily in innovation, with one of the best research teams in the world. The strategy also entails developing environmentally friendly products that meet all international quality and assurance regulations.

New products spread through ‘diffusion’, which takes place among corporations and people. New products also take time to be adopted, with their rate of adoption depending on how the early adopters perceive the product. The diffusion rate is also affected by marketing, cultural practices and the complexity of the new products. Diffusion follows a bell shape where initially, only early adopters buy the product. The smart watch is an example of a product I have recently adopted. It took me some time to acquire the watch and that places me in the category of the late majority. I had to wait till my friends and neighbors had bought the watch, and I had seen the benefits of having it, before I purchased one. The category in which one falls is dependent on the product. When FIFA 15 was launched, I was one of the first people to purchase it. I had eagerly waited for the product and did not mind the high cost. I was thus an innovator when it came to the FIFA 15 game.