Chapter 9 New-Product Development and Product Life-Cycle Strategies 1) What are the two ways that a company can obtain new products? A) line extension and brand management B) internal development and brand management C) new-product development and acquisition D) service development and product extension E) market mix modification and research and development Answer: C Diff: 2 Page Ref: 258 Skill: Concept Objective: 9-1 2) Product improvements, product modifications, and original
Words: 9355 - Pages: 38
We enter this case in January 2006. Phoebe Masters, the newly appointed product manager for hand and body lotions at Dermavescent, Laboratories, Inc., had to decide whether (or not) to introduce a new package design (5-1/2 or 10 ounce aerosol can) and whether she should move forward with a market test. This case provides the opportunity to consider common issues in product management, namely product life cycle management, and the role of packaging in the marketing mix. As we have discussed
Words: 459 - Pages: 2
Creating new products Our objective is to be the voice of the consumers within the organization. High-quality market research has helped secure the long-term future of the business. Analyzing and understanding the data gathered on consumers' behaviors, needs, attitudes and opinions minimizes the risks involved in making marketing decisions. They help the central research team in gathering and interpreting consumer views. These views provide information or insights that ultimately result in
Words: 1527 - Pages: 7
CAMP FLAMING WINGS Course Name: Marketing Management Course No : MKT 201 Section : 5 Marketing plan On Camp Flaming Wings Submitted to: Husna Ara Submitted by: Team Renegades Team Renegades NAME | STUDENT ID | Md. Asad-uz-zaman Khan | 2013-2-10-160 | Omar Bin Alam | 2013-2-10-190 | Tanjil Abedin Khan | 2013-1-10-377 | Arunima Dhar | 2013-3-10-196 | Sayeef Zimran Khan |
Words: 7004 - Pages: 29
primarily comprised of condensed milk, organic cocoa powder, and unsalted butter. They have very low ingredient costs and are distinctive enough to break through the Australian ‘cupcake’ consciousness, thus allowing us to sell a cheaper and more unique product to the Australian market. Assessment of Market Size Target Market Sweet Moment’s primary target market is university students, as generally they are more open to new and innovative ideas. There are over 400,000 university students in Sydney alone
Words: 1656 - Pages: 7
of the product life cycle on marketing for week three’s team reflection assignment. The members of team A understand the product life cycle stages and how it influences marketing; we are comfortable with the topic and related objectives. There were no identified areas of concerns to the material. The four stages of the product cycle are market introduction; this is when sales are low as a new idea is introduced to the market. During this stage customers are not familiar with the product. Promoting
Words: 367 - Pages: 2
skimming pricing. Organizations need to select a pricing strategy that is going to suit their product type, industry, target market, and product life cycle stage for pricing. The appropriate pricing strategy that Nike is going to use for their newest product, the Nike Tech Force, is going to be competition pricing. According to Investopedia (n.d.), “Competition pricing is setting the price of a product or service based on what competition is charging.” An organization has three options when it comes
Words: 280 - Pages: 2
economy where products are easily commoditized, innovating by adding services to the core product offering has become a popular strategy. Contrary to the economic benefits expected, recent findings pinpoint implementation hurdles that lead to a potential performance decline, the so-called ‘servitization paradox’. In this paper, we analyze this paradox by disentangling the value creation and value appropriation processes of 44 national subsidiaries of a global manufacturing firm turned product-service provider
Words: 12026 - Pages: 49
Product Life Cycle Stages Explained The product life cycle has 4 very clearly defined stages, each with its own characteristics that mean different things for business that are trying to manage the life cycle of their particular products. Introduction Stage – This stage of the cycle could be the most expensive for a company launching a new product. The size of the market for the product is small, which means sales are low, although they will be increasing. On the other hand, the cost of things
Words: 1704 - Pages: 7
growth opportunity? 3. Should Lancer Galler reposition themselves as a company? . If they do reposition, how will you differentiate your offerings from competitors? 4. What are the product categories in which lancer Gallery competes- what are the distribution channels lancer gallery currently uses to market these products 5. What research should be conducted by Lancer to determine the feasibility of accepting/rejecting the contract? Based on these findings, should he accept/reject the contract? 6
Words: 682 - Pages: 3
