What are the major disadvantages to test marketing, and how might they be avoided?

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 distributors, training a sales force, announcing the product to the trade, and advertising to consumers. Questions 2.1 List the advantages of simultaneous product development. 2.2You 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. 2.3 What are the major disadvantages to test marketing, and how might they be avoided? 2.4 How could information from customer orders at http://www.pizzahut.com help the company’s marketers plan new-product developments?

We offer such solutions here:

Get 10% Discount for this order!

Our Prices Start at $11.99. As Our First Client, Use Coupon Code GET10 to claim 10% Discount This Month!

Why US?

100% Confidentiality

Information about customers is confidential and never disclosed to third parties.

Timely Delivery

No missed deadlines – 97% of assignments are completed in time.

Original Writing

We complete all papers from scratch. You can get a plagiarism report.

Money Back

If you are convinced that our writer has not followed your requirements, feel free to ask for a refund.