Chapter eleven: Developing and Managing Products

What is a new product?

A new product is a product that is new to the world, the market, the producer, the seller, or some combination of these. New products are important because they replace older versions of products or just because comsumers want to see something new and different to catch their attention. By having new products if they are affective in the market, they can increase revenues, profits and can bring more and more loyal costumers to the company.
Nike has sneakers named after basketball players and each year they upgrade these sneakers and make them feel and look better to attract more consumers. One pair of these sneakers is named after Kevin Durant and they are called "Nike Zoom KD V iD". These are the 5th shoes made after him and with each new pair came a different inspiration. Also them being iD sneakers meaning that you can customize them and make them your own, brings more costumers because they can change the color of the shoe, put their initials in them and change the bottom of it. Here is a look:

 

 

Every year, basketball stars like Kobe Bryant, Lebron James, and the Most famous one of all Michael Jordan get their sneakers changed to look better. Nike chooses to remodel and upgrade these sneakers because of the demand for them. Its basically because of the name behind the products and because of how they look. Nike does a great job of being updated in consumer's lifes and what they like or dislike and create products to go with that. Each product has a life cycle, with a begining and an end, Nike keeps their products living by upgrading and remodeling them to attract customers to them because competitors like Adidas and Under Armour are on the rise.  

 

Nike+ FuelBand:

 

Nike also came out with a product unseen before separating them even more from competitors, here are some looks on this product: