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

    Classification of New Products

    Types of Products ExplainationExamples
    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 ProductsDesirable Products

    Low

    Deficient ProductsPleasing Products