o develop new products and services efficiently, organizations go through a process to ensure that their products are ready for market. The new-product process is a set of stages that an organization goes through to identify opportunities and convert them into profitable products or services. This process is meant to evaluate interest in a product and helps to increase the chances of success within the marketplace. As discussed in the video case, Hope Springs Water Company is using this process to identify opportunities to develop new, complementary offerings to its bottled water. By using the new-product development process to develop naturally flavored bottled water, Hope Springs Water Company can make decisions on hard data and a structured process instead of guessing whether this new additive will be successful within the marketplace. This activity is important because marketers must understand that from idea generation and screening/evaluation to market testing and product launch, this process increases the chances of new-product success within the marketplace. The goal of this activity is to understand the elements of the new product development process.
Address the following, based on the video and assigned readings for this week:
Referring to Exhibit 12-2, “Diffusion of Innovation Curve,” Exhibit 12-5, “Product Life Cycle,” and Exhibit 12-6, “Characteristics of Different Stages of the Product Line,” assess the following elements for the Hope Springs Water Company launching a new product line: the all-natural water additive:
Price strategy for different cycles of the product.
Promotion strategy for different cycles of the product considering the typical consumers for each cycle. Be strategically creative!
Using information from Chapter 11, recommend one new product to add depth to the all-natural water additive line of product, and one new product as a successful brand extension for Hope Springs Water Company.
Explain your rationale.
o develop new products and services efficiently, organizations go through a process to ensure that their products are ready for market. The new-product process is a set of stages that an organization goes through to identify opportunities and convert them into profitable products or services. This process is meant to evaluate interest in a product and helps to increase the chances of success within the marketplace. As discussed in the video case, Hope Springs Water Company is using this process to identify opportunities to develop new, complementary offerings to its bottled water. By using the new-product development process to develop naturally flavored bottled water, Hope Springs Water Company can make decisions on hard data and a structured process instead of guessing whether this new additive will be successful within the marketplace. This activity is important because marketers must understand that from idea generation and screening/evaluation to market testing and product launch, this process increases the chances of new-product success within the marketplace. The goal of this activity is to understand the elements of the new product development process.
Address the following, based on the video and assigned readings for this week:
Referring to Exhibit 12-2, “Diffusion of Innovation Curve,” Exhibit 12-5, “Product Life Cycle,” and Exhibit 12-6, “Characteristics of Different Stages of the Product Line,” assess the following elements for the Hope Springs Water Company launching a new product line: the all-natural water additive:
Price strategy for different cycles of the product.
Promotion strategy for different cycles of the product considering the typical consumers for each cycle. Be strategically creative!
Using information from Chapter 11, recommend one new product to add depth to the all-natural water additive line of product, and one new product as a successful brand extension for Hope Springs Water Company.
Explain your rationale.
Last Completed Projects
| topic title | academic level | Writer | delivered |
|---|