Thursday, March 30, 2017

New Product Development Process


DEVELOPING AND MANAGING NEW PRODUCTS
New Product Development Process
Part 1:
Short Essay: Write a minimum 200 word discussion in response to each of your 3 essay 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.  

1. With regard to consumer appeal, compare and contrast the GaGa's brand with the Sherbetter name of the product. Why did Jim King and his wife choose the GaGa's brand over the use of Sherbetter as the brand of the product?

ANSWER:

            Jim King and his wife chose to use the GaGa's brand over Sherbetter because they felt that GaGa was more memorable. Sherbetter could result in some confusion in the relationship to sherbert in the eyes of customers.  The health department approved the name of Sherbetter because GaGa's product is not a sherbert but is better.  Overall the ability to remember an iconic name like GaGa's won and became the brand.

2. Type the following phrase into your website browser: "Gaga Gourmet Frozen Dessert and Ice Cream." On the results page, identify retailer websites and social media websites that feature the Gaga's brand and product offerings. Explore these resources and identify a single Gaga Gourmet product offering. Discuss the following topics related to your chosen Gaga Gourmet product offering:

· Product Features
· Product Benefits
· Product Packaging
· Product Labeling
· Trademark
           
ANSWER:

            Several results pulled up in regards to "Gaga Gourmet Frozen Dessert and Ice Cream".  Some of these were Facebook, Star Market, Gluten Free Girl, and Twitter.  I chose Star Market for my review.
Product Features: Rainbow colored frozen dessert. 16 oz container with 4 servings per container.
Product Benefits: For a serving size of 0.5 cup there is only 160 calories, 4g total fat, and also provides 2g of protein.
Product Packaging: consists of a cardboard container with a lid
Product Labeling: Very plain with no over the top colors on the container.
Trademark: Contains the GaGa brand in the appropriate font and is clearly visible.



Part 2:
Defend Your Answer Challenge:

Step 1:Highlight your multiple choice answer in yellow.

Step 2: Write a 100 (or more) word discussion in defense of each of your answers to the multiple choice and true/false 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.  

3. What type of consumer product is the Sherbetter bar?
a. Shopping Product
b. Convenience Product
c. Specialty Product
d. Unsought Product

ANSWER:

4. When GaGa’s developed Sherbetter Bars, what type of new product was that?
a. Repositioned product
b. Improvement on an existing product
c. Addition to an existing product line
d. New product line

ANSWER:

5. 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


ANSWER:

 

6.  At which stage of the new product development process should GaGa’s have conducted its extensive focus groups and any research it needed before putting GaGa’s Sherbetter on the shelves?

a. Idea Generation

b. Development
c. Idea Screening
d. Business Analysis

ANSWER:


7. In what stage of the new product development process should GaGa's have introduced Sherbetter and the companies marketing program into the market to gauge consumer reactions?
a. Test Marketing
b. Target Marketing
c. Business Analysis
d. Commercialization

ANSWER:

8. In what stage of the product life cycle is Sherbetter?
a.   Introduction
b.   Growth
c.   Maturity
d.   Decline

ANSWER:
 

References

Lamb, C. W., Hair, J. F., & McDaniel, C. (2012). MKTG5. Mason, OH: South-Western, Cengage.




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