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We can classify new product into following categories. The types and their details are given as below.

Classification of New Products

Types of Products  Explaination Examples
New Product Lines    
Completely New Product    
Line Extensions    
Core Product Revisions    
Repositioning    
Changes to Augmented Product    

Classification of New Products – Given by Kotler

New to the World Products

New Product Lines

Addition to the existing product lines

Improvement and revision of existing products 

Repositioning

Cost Reductions

Types of New Products (Dia B)

   

Immediate Satisfaction

   

Low

High

Long

Term

Consumer

Welfare

High

Salutory Products Desirable Products

Low

Deficient Products Pleasing Products

 

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