PRODUCT DEVELOPMENT (New Products, Same Markets)
PRODUCT DEVELOPMENT (New Products, Same Markets)
- When the firm has successful products that are in the maturity stage of the product life cycle (i.e., attract satisfied customers to try new, improved products as a result of their prior experiences)
- When an organization competes in an industry that is characterized by rapid technological change
- When major competitors offer better quality products at comparable prices
- When the firm competes in a high-growth industry
- When an organization has especially strong research and development capabilities