Discussing the Concepts
1. Name and describe the major steps in the new-product development process.
2. Discuss the benefits and drawbacks of test marketing and explain why some companies do or do not use test marketing for new products. Name and describe the three approaches to test marketing.
3. Explain why successful new-product development requires a customer-centered, team-based, and systematic effort.
4. Name and describe the five stages of the product life cycle. Identify a product class, product form, or brand that is in each stage.
5. Explain the differences among styles, fashions, and fads and give an example of each.
6. Discuss the special challenges facing international product and service marketers.
1. Think of a problem that really bugs you or a need you have that is not satisfied by current market offerings. In a small group, brainstorm ideas for a new product or service that solves this problem or satisfies this need.
2. Coca-Cola has sustained success in the maturity stage of the product life cycle for many years. Visit Coca-Cola's Web site (www.thecoca-colacompany.com/heritage/ourheritage.html)
and discuss how Coca-Cola has evolved over the years. 3. Write a marketing strategy statement for a new full-
Identify ways that Coca-Cola can continue to evolve to meet functioning but folding bicycle, changing consumer needs and wants.
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