Describe the different ways to define a product as new.

The term new in relation to a new product is difficult to define. There are several ways to view the newness of a product. These include: (1) newness compared with existing products (functionally different from existing offerings); (2) newness from the consumer's perspective (the effects of a new product on consumption patterns based on the degree of learning consumers require); (3) newness in legal terms (the FTC defines new during the first six months after a product enters regular distribution); and (4) newness from the organization's perspective (a product line extension, a significant jump in innovation, a brand extension, or a radical invention).