What is the new and old product in the market?

New product refers to the product or service that is developed and being introduced in the market. The
new product are normally categorized by various market indicators such as it sales, cost, profit,
customer, competitors etc.

When the product is being developed profit is negative and investment is to be made. When the
products are introduced, sale is low and profit can be negative or low. The new product has very few
competitors and mostly customers are innovators. Promotion must be heavy as the new product is less
known in the market. Proper pricing must be kept which includes the manufacturing and less margin.

Example of new product can be electric vehicles in Nepalese market.

Old Product refers the product or service that is in maturity stage and often in decline stage. They are
normally categorized by following:

 Unfair competition and supply of substitutes reduces the sales.

 The company faces many problems.
 Sales might be stable depending on the situation.
 Strong competition which enhances the reduction in cost and profit.
 Marketing strategies are set so to beat or match the competitor’s price. Brand is further
diversified.

An example of old product can be diesel cars.