FTC Requirements for New Products
Entirely new or changed significantly. May be called "new" for 6 months
Continuous Innovation
Requires no new learning by consumers. Most common form of innovation.
Ex: new improved shaver
Dynamically Continuous Innovation
Disrupts consumers normal routine but does not require totally new learning.
Ex: electronic toothbrush, auto flash on cameras
Discontinuous Innovation
Requires new learning and consumption patterns by consumers.
Creates major changes in the way we live our lives. Very hard to market.
Line Extension
a product closely related to existing products in the line but meets different customer needs
Product Modification
A change in one or more characteristics of the product and the elimination of the original product from the product line
Quality Modification
Changes related to a product's dependability, durability, etc..
Done by altering materials or production processes.
Functional Modification
Changes affecting a product's function like versatility, effectiveness, convenience, safety, etc... Usually requires a redesign of the product
Aesthetics' Modification
Changes to the sensory appeal of a product: as taste, texture, sound, smell, or appearance
