Unit 7 assignment: new product development
Unit 7 assignment: new product development.
New products have a purpose in the marketplace, which is to maintain growth and profitability and to replace outdated products in the marketplace. In this Assignment, you will learn how Jim King and his wife decided to create the company GaGa’s Inc. using the product Sherbetter, a frozen desert product line. GaGa’s quickly expanded the product line from just Lemon to several other flavors as well as Sherbetter bars. In the video on how GaGa’s Inc. engaged in the new product development process, you will learn about the struggles of branding, line extensions, and other aspects of marketing a new product in the frozen dessert market (Lamb et al., 2014).Watch the video on Developing and Managing products: GaGa’s Inc.Using research from Chapter 11 in your textbook, answer the questions on GaGa’s Inc. in the Unit 7 Assignment Template Title of Paper Goes Here Your NameKaplan University New Product Development ProcessPart 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: 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: 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 Productb. Convenience Productc. Specialty Productd. Unsought Product ANSWER: 4. When GaGa’s developed Sherbetter Bars, what type of new product was that?a. Repositioned productb. Improvement on an existing productc. Addition to an existing product lined. 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 Analysisb. Developmentc. Test Marketingd. 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 Generationb. Developmentc. Idea Screeningd. 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 Marketingb. Target Marketingc. Business Analysisd. Commercialization ANSWER: 8. In what stage of the product life cycle is Sherbetter?a. Introductionb. Growthc. Maturityd. Decline ANSWER: References