Adding new products to a company's portfolio keeps revenues up and promotes innovation in the market. And offering products that follow a logical cycle matched to consumers' needs will help promote "lifetime customers," a concept closely tied to "lifetime value." However, innovation alone will not determine the success or failure of a product.
This fifth online course in eCornell's Marketing Strategy certificate program examines the psychological and sociological systems in which customers choose whether to adopt new products and services, and how the product lifecycle is connected to new-product diffusion. You will apply the concept of a marketing continuum to develop an effective marketing program, leverage an understanding of social systems to improve new product diffusion, and develop strategies to increase product adoption and sales.
This course is designed for professionals in any business or functional area that require a top-level understanding of marketing in order to make informed strategic business decisions for their companies. This includes people involved in making decisions about products and services, pricing, promotion and placement; those who need to interact with the marketing function and its managers; or those working in small organizations or business units without a formal marketing team. Entrepreneurs and executives who need strategic marketing knowledge to inform product planning and positioning will also benefit from this course.