We see it all the time in products. The company announces its product is new and...
We see it all the time in products. The company announces its product is new and improved. Why does a company take that route for a "new" product? Should the company develop a new product? This especially comes into play in the mature and decline stage.
Homework Answers
In the declining and maturing stage of a product-life-cycle, the sale and acceptance of product by people become negligent, then company does some improvement in their product. Such improvement in the product will enhance the utilities of it and improves the preference of the people to some extent and upto a period. The so improved product always being presented as a new product replacing the old product. Such action of the company is to make the life of product long and keep its revenue strength on.
The product should develop such new product at the time of dropping sales because such improvement in the product not only makes product and organizations life a little long but also keep the employees and other resources employed for some more time. The product development and R&D department got some time to come up with another fresh new product.
Add Answer to:
We see it all the time in products. The company announces its
product is new and...
Question, at which stage of the above process is a new product most likely to fail?...
Question, at which stage of the above process is a new product most likely to fail? Product Life Cycle: - Product Life cycle means like human life product also have different stages in its life where its gets introduced to world then it grows, gets mature and in last stage come to decline stage where product demand gets lower. There are four stage in product life cycle Introduction, growth, maturity, decline. - Introduction: In this stage product is marketed and...
Suppose that a company is evaluating a project to launch a new product. It estimates that...
Suppose that a company is evaluating a project to launch a new product. It estimates that if it launches the new product: i) The sales of some other products will decline ii) The interest expense of the company will go up iii) The firm pays higher dividends by retaining less earnings iv) The inventory will go up at the beginning of the project and then decline towards the end of the project Which of the above should the company take...
Continuous innovation products are the most typical forms of innovation we see among new products every...
Continuous innovation products are the most typical forms of innovation we see among new products every year. The primary reason a brand manager would support innovation investment in such products is ____________ Group of answer choices a) Greater profit per unit b) Lower investment cost c) Longer product life cycle d) All are valid options e) Wholesalers more likely to stock larger inventory levels
27. From time to time it is necessary for marketers to meet consumer preferences. A. delete...
27. From time to time it is necessary for marketers to meet consumer preferences. A. delete product lines or categories B. attract consumers' attention C. expand brand equity D. raise perceived value E. measure SKU effectiveness in order to realign resources and 28. When McDonalds comes up with a new drink or entrée for its fast food stores, they often market it in a dozen or so of their outlets. When they do this, they are engaged in: A. pretesting...
Help Relating the Product Life Cycle to Marketing Mix Actions This activity is important because products,...
Help Relating the Product Life Cycle to Marketing Mix Actions This activity is important because products, like people, have a life cycle. The product life cycle describes the stages a new product goes through in the marketplace: Introduction, growth, maturity, and decline. The introduction stage of the product life cycle occurs when a product is introduced to its intended target market. The growth stage of the product life cycle is characterized by rapid increases in sales. The maturity stage is...
29.With regard to the various stages of the new product development process: - a product’s profit...
29.With regard to the various stages of the new product development process: - a product’s profit potential is estimated in the idea generation stage. - from a marketing perspective, scientists are the ideal source of ideas. - new product ideas are generated during the test marketing stage. - screening involves evaluating the idea in terms of a new-product checklist. 22. Which is NOTa characteristic of services? - personal factors are very important, especially at the time of the purchase decision....
A company has a policy of Cp = 1.2 for all new products. All sheet metal...
A company has a policy of Cp = 1.2 for all new products. All sheet metal specifications are designed with a tolerance of + 5 mils. Assume a manufacturing process average of 100 mils. a. What is the reject rate for new parts? b. If the sheet metal punch press average was shifted by 1 mil, what will the new Reject Rate be in PPM? What will the new Cpk be? c. If the Cp was changed to 1.0, what...
Question 5 2 pts Business analysis refers to the stage of the new product development process...
Question 5 2 pts Business analysis refers to the stage of the new product development process where the direction a company will take in developing a new product is determined. where a SWOT analysis and environmental scanning are used to determine if a new product will help strengthen the firm's marketing plan. where it is decided if a product can be developed and marketed within the time and budget constraints of the company where a concept test is performed to...
ABC Company produces Product X, Product Y, and Product Z. All three products require processing on...
ABC Company produces Product X, Product Y, and Product Z. All three products require processing on specialized finishing machines. The capacity of these machines is 2,250 hours per month. ABC Company wants to determine the product mix that should be achieved to meet the high demand for each product and provide the maximum profit. Following is information about each product: Product X Product Y Product Z Selling price $ 151 $ 120 $ 38 Variable costs 105 58 30 Machine...
Your company has invested $4 million in developing a new product but the development is not...
Your company has invested $4 million in developing a new product but the development is not quite finished. In today’s meeting, your salespeople report that the recent introduction of competing products in the market has reduced the expected profits of launching your new product from $10 million to $3 million only. The Research Department reports that it will cost another $1 million to finish the development of this new product. Refer to the case above. Explain whether the following sentences...
27. From time to time it is necessary for marketers to meet consumer preferences. A. delete product lines or categories B. attract consumers' attention C. expand brand equity D. raise perceived value E. measure SKU effectiveness in order to realign resources and 28. When McDonalds comes up with a new drink or entrée for its fast food stores, they often market it in a dozen or so of their outlets. When they do this, they are engaged in: A. pretesting...
Help Relating the Product Life Cycle to Marketing Mix Actions This activity is important because products, like people, have a life cycle. The product life cycle describes the stages a new product goes through in the marketplace: Introduction, growth, maturity, and decline. The introduction stage of the product life cycle occurs when a product is introduced to its intended target market. The growth stage of the product life cycle is characterized by rapid increases in sales. The maturity stage is...
Question 5 2 pts Business analysis refers to the stage of the new product development process where the direction a company will take in developing a new product is determined. where a SWOT analysis and environmental scanning are used to determine if a new product will help strengthen the firm's marketing plan. where it is decided if a product can be developed and marketed within the time and budget constraints of the company where a concept test is performed to...
Most questions answered within 3 hours.
-
An entomologist discovers a dung beetle rolling a ball of dung
along the ground, and decides...
asked 57 minutes ago -
Humans have used horses for transportation for millions of
years. Therefore, they will use horses for...
asked 2 hours ago -
The following are the Jensen Corporation's unit costs of making
and selling an item at a...
asked 3 hours ago -
Does direct Medicare reimbursement of Advanced practice nurses
increase access to their services?
asked 4 hours ago -
List and explain why a company would choose to use a
published
compensation survey vs. creating...
asked 4 hours ago -
A discrete random variable X can take values from 1 to 10. Find
the variance of...
asked 4 hours ago -
The primary financial goal of a corporation is to maximize:
shareholders wealth.
earnings per share.
stock...
asked 4 hours ago -
determine whether the vectors u=(1,2,3,), v=(-2,1,0) and
w=(1,0,1) are linearly dependent or independent.
asked 4 hours ago -
python
Define a function called print_values which takes a dictionary
object as a parameter. The function...
asked 5 hours ago -
In Chapter 1 you created a program named Triangle in
which you displayed a seven-line triangle...
asked 5 hours ago -
Research question: What are the differences between separately
stated and non separately stated transactions in an...
asked 6 hours ago -
By using Arduino write a code that connects two LEDs to two
push-buttons. Each button controls...
asked 7 hours ago