Reference no: EM131266861
Explain the steps in the new-product development process. First, a firm forms a new-product strategy by outlining the characteristics and roles of future products. Then new-product ideas are generated by customers, employees, distributors, competitors, vendors, and internal R&D personnel. Once a product idea has survived initial screening by an appointed screening group, it undergoes business analysis to determine its potential profitability.
If a product concept seems viable, it progresses into the development phase, in which the technical and economic feasibility of the manufacturing process is evaluated. The development phase also includes laboratory and use testing of a product for performance and safety. Following initial testing and refinement, most products are introduced in a test market to evaluate consumer response and marketing strategies. Finally, test market successes are propelled into full commercialization. The commercialization process involves starting up production, building inventories, shipping to
1. List the advantages of simultaneous product development.
2. You are a marketing manager for Nike. Your department has come up with the idea of manufacturing a baseball bat for use in colleges around the nation. Assuming you are in the business analysis stage, write a brief analysis based on the questions in the "Business Analysis" section of the chapter.
3. What are the major disadvantages to test marketing, and how might they be avoided?
4. How could information from customer orders at www.pizzahut.com help the company's marketers plan new-product developments?
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What is your personal brand or philosophy
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How many new products can you identify
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Formulas for compute the ending inventory
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Economic decision making within an organization
: 1. How can sample data support or inform economic decision making within an organization? Can the sample data have errors or be problematic when making decisions? Provide an example.
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Explain the steps in the new product development process
: Explain the steps in the new-product development process.- List the advantages of simultaneous product development.
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Discuss the four uses of comparative data
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What is the principal balance and portion
: Jay Mills started a business by issuing a $95,000 face value note to State National Bank on January 1, 2014. The note had a 6 percent annual rate of interest and a five-year term. Payments of $22,553 are to be made each December 31 for five years. Wh..
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Determine the line voltages and line currents
: Determine the line voltages, line currents, phase voltages and phase currents on both the primary and the secondary sides.
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