New-to-the-World Products: Examples & Overview

New-to-the-World Products: Examples & Overview
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  • 0:01 What Are…
  • 0:31 Examples
  • 1:17 Challenges
  • 2:43 Lesson Summary
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Lesson Transcript
Instructor: Shawn Grimsley
There really are few things that are new under the sun. In this lesson, you'll learn about new-to-the-world products, including some related concepts as well as some examples.

What Are New-to-the-World Products?

New-to-the-world products are products that have never been created or introduced to the market before. They are completely innovative and not derivative of older products. A cell phone with a better touch screen is derivative of prior products, for example. In other words, these products are truly the first of their kind and establish an entirely new market. New-to-the-world products are generally a result of scientific and technological innovation.

Examples

Let's look at some historical examples of new-to-the-world products.

  • Personal computers - These were truly a consumer innovation that wasn't derived from some other consumer electronic device
  • The Internet - Never before in the history of the world had data been accessible and available on, literally, a global basis. It created an entire industry of service providers and retailers living in cyber space.
  • Antibiotics - Biotechnology is often a large source of truly new products, and penicillin is probably the granddaddy of them all.
  • Post-it ® notes - Post-it® notes follows the KISS Principle (keep it simple, stupid) of product design and demonstrates that innovation doesn't have to be all that complicated.

Challenges

Obviously, the biggest challenge for new-to-the-world products is the actual development process. We'll leave that discussion for scientists and engineers and focus on other marketing problems. Never forget that having a great product is just the start, not the end of the marketing process. Products seldom sell themselves, at least not in the beginning.

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