ABSTRACT
All companies must continually develop new products to compete effectively in today’s complex and rapidly changing marketplace. There are a variety of strategies that may be used to maintain the momentum and include the following:
Discontinuous innovation: New products that create an entirely new market
New offering category: These enable new market entry into an existing market
Extensions: Either the product line, a service line, or the brand
Incremental improvements: Styling, performance, or even price changes
