New product strategy: a plan that links the new product development process with the objectives of the marketing department, the business unit and the corporation.
Beats Electronics introduces new products that are new to their market. It consist of adding new artist series headphones,over the ear and in ear headphones.
For Example, for the artist series line, they add new collaborations of the Beats headphones with heroic figures of music, fashion and sports. Their latest addition was a collaboration with Lady Gaga, to make the heartbeats High Performance In Ear headphones:
"An icon of music and fashion, Lady Gaga scored three #1 hits on her debut album. Visually,Heartbeats are designed down to the last detail by Lady Gaga. Working closely with Dr. Dre and Monster, they reflect her commitment to amazing "
Their latest new product strategy was the introducing the new limited edition colors. Compare to their normal use of the colors red, black and white...this is a new product.
It was also announced that there will be new wireless headphones. Wireless headphones is not a product that is new to the world, but a new product for Beats consumers.
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