Categories of New Products
New products can be grouped according to the degree of innovation as located with them in comparison to existing products. Within this framework we define three broad categories of new products (a) incremental or derivative products (b) next generation or platform products and (c) breakthrough or radical products. Each of these types of products places specific requirements upon the firm. with those that are the most innovative usually requiring the greatest commitment resources. Equally important is the fact that each plays an important role in the long-term success' of the firm.