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A. Mention two of the external sources for ideas? B. Explain three reasons for new products to fail.

A. Mention two of the external sources for ideas? B. Explain three reasons for new products to fail.

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Now answer the following questions: 1. What stages of the new product development process are mentioned in the mini case? Mini Case A B с D E F New Product development Stage Idea generation Idea screening Product concept Market strategy development Business analysis Test marketing 2. Answer of the following questions: A. Mention two of the external sources for ideas? B. Explain three reasons for new products to fail. C. Explain the social responsibility related consideration that Kentucky must adhere to |
Transcribed Image Text:Now answer the following questions: 1. What stages of the new product development process are mentioned in the mini case? Mini Case A B с D E F New Product development Stage Idea generation Idea screening Product concept Market strategy development Business analysis Test marketing 2. Answer of the following questions: A. Mention two of the external sources for ideas? B. Explain three reasons for new products to fail. C. Explain the social responsibility related consideration that Kentucky must adhere to |
Within your studies of the new product development process, look at the following mini cases and answer the questions that follow. Kentucky Grilled Chicken Case When you're a giant company like Kentucky you can perform new product development process your own stores. Take Kentucky Grilled Chicken for instance. I'm sure it began during an A They must have said, "Hey, what is the trend now?" Or maybe it is coming from a consumer or supplier. Either way, the Kentucky Grilled Chicken passed the stage which helps spot good ideas and drop poor ones as soon as possible. B Next, came the C a detailed version of the idea stated in meaningful consumer terms. Then comes the D stage where Kentucky described their target market, the planned value proposition, performing a E and the sales, market share, and profit goals. Next step would be _on the Kentucky Grilled Chicken, reviewing sales, costs, and profit projections to see if they fit with the objectives of the company. Kentucky wouldn't then just commercialize the product to every Kentucky that serves to their target market; they would first have to do F by introducing the product and marketing program into real market conditions. Here, they would offer the Kentucky Grilled Chicken at certain locations within their target market.
Transcribed Image Text:Within your studies of the new product development process, look at the following mini cases and answer the questions that follow. Kentucky Grilled Chicken Case When you're a giant company like Kentucky you can perform new product development process your own stores. Take Kentucky Grilled Chicken for instance. I'm sure it began during an A They must have said, "Hey, what is the trend now?" Or maybe it is coming from a consumer or supplier. Either way, the Kentucky Grilled Chicken passed the stage which helps spot good ideas and drop poor ones as soon as possible. B Next, came the C a detailed version of the idea stated in meaningful consumer terms. Then comes the D stage where Kentucky described their target market, the planned value proposition, performing a E and the sales, market share, and profit goals. Next step would be _on the Kentucky Grilled Chicken, reviewing sales, costs, and profit projections to see if they fit with the objectives of the company. Kentucky wouldn't then just commercialize the product to every Kentucky that serves to their target market; they would first have to do F by introducing the product and marketing program into real market conditions. Here, they would offer the Kentucky Grilled Chicken at certain locations within their target market.
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