If you look at it, a company is useless without a product. It's like a basketball without a hoop. In that case it is crucial for a company to develop efficient products and manage them correctly. Did you know the average company introduces 70-80 new products a year? That is a lot of products and not all of those products become successful or sell. You cant just throw a new product out there and expect it to do the rest own its own. If a company did such a thing they would become a laughing stock. New products are important to sustain growth, increase revenues and profits, and replace older items that aren't so big anymore.
Before a company releases a new product they have to have an idea, then with that idea the have to make a model of the idea and then screen it. Then the new product goes through a business analysis which determines how can the product be good for business. At last the product is developed and tested, after the test is passed commercialization is underway for the product then the product is released with a bang along with commercials, posters, bill boards and lots of advertisement. This process is called a new product strategy which is a plan or process which the development and objectives of a product are tested and analyzed before the product is released.
Commercialization is the decision to market a product. When Adidas decided to market basketball sneakers they went through the new product development process in which the sneakers were analyzed, developed and tested on every little feature before they come out to the public. Adidas made sure they were light weight and fashionable. To promote the sneakers even more basketball star Derrick Rose was added to the mix because he is a rising star in professional sports and other athletes especially amateurs look up to him. The adiZero Rose Crazy Light sneakers went through the same process and the products were managed efficiently, which made Derrick Rose a major sports model for Adidas Basketball Campaigns.
Here below are the four stages of The Product Life Cycle
Most products last throughout these four stages. The introduction, Growth of the product, Maturity (Which is the peak of the product), and decline (The fall of the product).
The Adidas adiZero Rose Crazy Light Sneaker is currently at the growth stage even though the sneaker had came out a while ago sales are still rising. The shoe was introduced back in 2011 the year Derrick Rose won MVP in. The shoe carries a slogan of "Fast Don't Lie" interpreting the players lightning speed on the court. This Adidas product will be in the maturity stage soon but as of late sales are at their peak.
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