Varieties of new products available in stores and online
Today, there is a great multitude and varieties of new products available in stores and online, from which consumers can choose. Think about the new products you've seen in the past two or three years, then choose a new product from any category.
Questions (2×5 = 10 Marks)
1. How would you define the attributes and benefits of the chosen product?
2. Define the core, actual, and augmented product benefits.
3. Briefly describe the steps in the new product development process.
4. Each product will have a life cycle, although its exact shape and length are not known in advance. Explain each step in the PLC.
5. What are the dimensions upon which a company manages its product portfolio?
Sample Solution
2014, Ryan Moore embraced three 8-week-old rabbits from the Freedom + Rescue Project, a charitable association that salvages creatures from research centers once they were finished being probed. One of the rabbits kicked the bucket soon after a month, and another following a few years. After four years, Moore saw that his third hare, Marilyn, was eating less and had slight wetness around her eyes and nose, all side effects of a wiped out rabbit. He took her to the vet, yet the veterinarian trusted Marilyn was fine and gave her an anti-microbial. Soon after a couple of days, Moore woke up to the sound of Marilyn shouting; she was jumping around unequal and was winded. Moore weakly looked as Marilyn kicked the bucket a difficult and vicious demise. Very much took care of rabbits regularly satisfy ten years. Moore stated, "I don't know for certain if Marilyn's demise at 4 years of age was an aftereffect of the tests performed on her, yet the other two bunnies I embraced were from a similar cluster from a similar lab … I currently realize that the other two kicked the bucket the equivalent awful passing since I discovered them in indistinguishable conditions to Marilyn" (Moore). In addition to the fact that Moore adopted rabbits from the Freedom + Rescue Project, however he likewise embraced Bowie, a feline, in 2013. He was a couple of months old when he left the lab and had an immense entry point on his back. As indicated by Moore, despite the fact that Bowie is acceptable with different creatures and to some degree tender with his proprietor, he is startled of others; he stows away for quite a long time at whatever point Moore has visitors over and doesn't permit anybody to control him in any capacity (Moore). Regardless of whether somebody concurs with creature testing or not, it isn't begging to be proven wrong that creature testing presents incredible injury and dread for defenseless creatures who are compelled to endure in these labs, as observed with Marilyn and Bowie.