Adding new products to a company's portfolio keeps revenues up and promotes innovation in the market. And offering products that follow a logical cycle matched to consumers' needs will help promote "lifetime customers," a concept closely tied to "lifetime value." However, innovation alone will not determine the success or failure of a product.
This fifth online course in eCornell's Marketing Strategy certificate program examines the psychological and sociological systems in which customers choose whether to adopt new products and services, and how the product lifecycle is connected to new-product diffusion. You will apply the concept of a marketing continuum to develop an effective marketing program, leverage an understanding of social systems to improve new product diffusion, and develop strategies to increase product adoption and sales.