Brand-new

For the band, see Brand New (band). For other uses, see Brand New (disambiguation).

In marketing, brand-new products or services are created and promoted under a new brand. This is a brand strategy alongside the brand stretching, line extension and multi-brands strategies.[1] The brand-new strategy is focused on creating and introducing new products effectively. It involves researching a market to discover consumer needs that provide a market opportunity, generating ideas on how to approach that opportunity, and commercializing a product by communicating how the product covers the needs.[2]

Companies may introduce brand-new products that replace products, as a leading function for marketing, instead of making incremental improvements on existing products.[3]

See also

References

  1. ^ Rajagopal (2009). International Marketing, 1E. Vikas Publishing House Pvt Ltd. p. 239. ISBN 978-8125918561.
  2. ^ G. Michael Maddock; Luisa C. Uriarte; Paul B. Brown (May 2020). Brand New: Solving the Innovation Paradox - How Great Brands Invent and Launch New Products, Services, and Business Models. John Wiley & Sons. p. 12. ISBN 978-1118061459.
  3. ^ Jon Sundbo (1998). The Theory of Innovation: Entrepreneurs, Technology and Strategy. Edward Elgar Publishing. p. 131. ISBN 1781008892.


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