NEW- PRODUCT DEVELOPMENT AND PRODUCT LIFE CYCLE STRATEGIES
Introducing new products comes with its associated risks, a point that businesses need to take into consideration. This is critical to the survival of a Product or Brand. We inhabit a global marketing world in which the concept of market share and its relationship to new product launches becomes paramount. A significant amount of time, money and expertise has gone in to conducting research on this integral relationship. An unbiased market study reveals that firms within the fast moving consumer goods, or FMCG sector, are continually innovating and launching new products to sustain and enhance market share. For successful launching and sustainable support of innovation, resources, particularly financial, are mandatory. It is with a view to establish the integral relationship between market share and new product launches, that this causal study has been undertaken. Market data covering a period of five years, from four sub-categories within the Personal Care sector were obtained from Data monitor. The unit of analysis was firm per Research has shown that firms within the fast-moving consumer goods (FMCG)sector are innovating and launching new products to sustain and enhance market share. This book aims to unravel the relationship between market share and innovative launches.