Explore these resources and identify a single Gaga Please watch the following vi

Question

Explore these resources and identify a single Gaga Please watch the following video http://www.cengage.com/marketing/book_content/lamb_9781285091860/videos/ch11.html

Write a 100 (or more) word discussion in defense of each of your answers to the multiple choice questions using research from your textbook to help substantiate your understanding of products and the new product development process. Apply APA style referencing in your writing.

Performing which of the following steps in the new-product development process would have helped Jim King realize that the novelty bars and the pints of Sherbetter would not be shelved together?

a. Business Analysis

b. Development

c. Test Marketing

d. Commercialization

Explanation / Answer

a.

Business analysis:

The perception has been experienced and finalised, a business holder wants to be put jointly to review whether the new product will be gainful. This should comprise a thorough marketing approach, importance the aim market, product location and the marketing combine that will be used.

This examination needs to include whether there is a require for the product, a full assessment of the costs, opposition and identification of a break-even point.

b.

Product development:

If the new product is accepted, it will be approved to the technical and marketing development stage. This is when a example or a limited production model will be created. This means you can examine exact plan & stipulation and any manufacturing techniques.

c.

Test Marketing:

Test marketing (or market testing) is diverse to concept or consumer testing, in that it set up the example product following the future marketing table as whole rather than individual fundamentals.

This process is essential to validate the whole concept and is used for further modification of all fundamentals, from product to marketing communication.

d.

Commercialization:

while the concept has been residential and experienced, final decisions require to be complete to move the product to its launch into the market. Pricing and marketing strategy need to be finalised and the sales teams and allocation concise, so that the product and company is ready for the final stage.

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