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It’s New but Is It Good? New Product Development and Macromarketing

Graduate School of Business at Columbia University

New product development is integral to marketing. There are questions, however, regarding the extent to which new products are good and for whom they are good. While benefits may be obvious for manufacturers, sellers, and users of any particular product, stakeholders beyond the transaction and direct usage of said product may receive no benefits and perhaps may be harmed by new products. Some of the complex systemic effects of new products are examined in this article, with the hope that readers will ponder some of these complexities and various trade-offs and, more important, devise measures and practices that might help to determine the extent to which products truly are or can be systemically "good."

Key Words: new products • growth • multiple stakeholders

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