Marketing Study Set 1

Business

Quiz 12 :

Developing and Managing Products

Quiz 12 :

Developing and Managing Products

Question Type
search
arrow
Whether you love them or hate them, the AXE commercials leave an indelible impression. The AXE brand, owned by Unilever, is meant to exude masculinity. First released under the Lynx brand name in France in 1983, AXE products did not hit American shelves until 2002. However, in a short time period, AXE products have revolutionized the male grooming market. AXE is the number-one male grooming brand in both the United States and Canada. The company features provocative advertisements of women falling over men who wear the AXE body spray. AXE body sprays are its most popular product, but when it first entered the U.S. market, the company was taking a risk. Until that time, body sprays were not marketed to men, as they were considered to be more of a girl's item. Yet AXE quickly gained popularity by honing in on what many young men care about. "Our target is really 18 to 24," said AXE brand manager Mike Dwyer. "Our ads are exactly what an 18-to-24-yearold guy is thinking about. It's gears and gadgets, it's sports, or it's girls. We focus very much on girls." AXE's product features are both tangible and psychological. On the tangible side, the smell of the product needs to be pleasing to both men and women. The psychological features of the product include desirability, masculinity, and seductiveness. To effectively manage the AXE brand, Unilever has to regularly develop new products and manage existing lines. Over the years, it has introduced several line extensions, including hairstyling, aftershave, skin care, and shower gel products. The company has also released an AXE fragrance called Anarchy for Her in Canada, so that girls can experience the "AXE Effect." Anarchy for Her is meant to complement the Anarchy for Him male fragrance and has more fruity and flowery scents. Each year, the company introduces a new fragrance. For example, one of its more recent fragrances includes a chocolate ice cream scent. In order to create scents that resonate with its young male demographic, AXE hires professional perfumers to develop the fragrance and even employs expert "smellers." Such efforts not only made AXE a market leader but also helped the male grooming industry as a whole. It is estimated that, by 2015, male grooming products will be a $33.2 billion industry AXE's sexualized marketing and its appeal to young men have become what Dwyer has called the "AXE Lifestyle." The styling of the product's package is meant to convey seductiveness (the traditional package is black, but the color changes depending on the product). AXE advertisements try to connect the action of attracting a woman to the product itself. For instance, the chocolate ice cream fragrance featured a commercial where women were licking the man after he used that particular scented body spray. Although AXE promotes itself through Twitter and events, its commercials tend to be its most notable promotion. Young men have gravitated toward the idea that AXE body spray can make them more desirable. However, what AXE perhaps did not anticipate was its popularity among younger generations: male teenagers and tweens (those between the ages of 10 and 12). Although these younger generations do not have jobs, they have significant influence in the family. Mothers often purchase these products for their children after they request them. Many of the promotions that appeal to young men seem to appeal to preadolescents-namely, the desire to be accepted and feel "sexy." Because preadolescence is the age when many young men become more conscientiousness of their looks, AXE provides a way for them to feel more confi dent about their body image. Unfortunately, preadolescents tend to over-spray, and some schools have even banned the body spray because it is distracting in class. Although the AXE brand can profit from its popularity among the tween generation, this trend can also backfire. Young men traditionally have shied away from products that are popular with those young enough to be their "kid brothers." Therefore, AXE makes it clear that its target market is for those between the ages of 18 and 24. To respond to these changing trends, AXE will need to continue developing and adapting products to meet the needs of its target market and take advantage of new market opportunities. How has AXE used line extensions to increase its reach among consumers?
Free
Essay
Answer:

Answer:

PRODUCT LINE EXTENSION
Product line extension refers to the use of established product name to launch a new product with similar benefits.
For example; a fast food chain, Laura offers burgers as Laura burgers. It may offer a variety of burgers like Laura fish burger, Laura chicken burger, and Laura cheese burger.
Use of Product line extensions by A Sprays :
A Sprays launched their fragrances at the time when there was almost no market for male fragrances. Owing to the aggressive advertising and distinct fragrance, A Sprays became popular in the market.
Thus, to effectively manage the brand, new fragrances were launched every year. This helped the brand to increase their offerings to be able to cater the varied needs of customers.
Brand launched their line of after shave, shower gel and other skin care products to increase their offerings to cater entire male grooming products. This was a strategy to survive competition, and remain popular with customers.
Not only male fragrance, brand also launched a female fragrance emphasizing the distinct smell to increase desirability.
Thus, it can be stated that A Sprays have used their product line extensions to remain popular, increase offerings to cater demands of every customer.

Tags
Choose question tag
close menu
arrow
A company's marketing strategy may be revised to include new products as it considers its SWOT analysis and the impact of environmental factors on its product mix. When developing a marketing plan, the company must decide whether new products are to be added to the product mix or if existing ones should be modified. The information in this chapter will assist you in the creation of your marketing plan as you consider the following: Using Figure 12.1 as a guide, discuss how your product idea would move through the stages of new-product development. Examine the idea, using the tests and analyses included in the new-product development process. img The information obtained from these questions should assist you in developing various aspects of your marketing plan found in the "Interactive Marketing Plan" exercise at www.cengagebrain.com.
Free
Essay
Answer:

Answer:

The product would move through the different stages of new product development. Those stages are as follows:
1) Idea Generation: The development process starts with the product ideas. The ideas may generate externally or internally for maximizing the production or for new development of the product.
2) Screening: Under this process the utmost favorable ideas are selected for further evaluation. Ideas are examined in order to determine whether they are according to the resources, objectives, and abilities of the organization.
This analysis also includes the needs and wants of the potential buyer, potential market and possible changes in the existing product.
3) Concept testing: this stage is a test in which a section of potential buyers are untaken with the idea of the product so as to determine their buying intentions and attitudes about the product.
4) Business Analysis: under this stage the idea of the product is being evaluated for determining the contribution it could make towards costs, sales and profit.
5) Product development: the fifth stage is development of the product in which one has to determine whether it would be reasonable to produce the product at this cost.
6) Test marketing: under this stage the product is introduced in market in a limited amount so as to test the reviews and buying potential of the customers towards the product.
7) Commercialization: this is the final stage wherein one has to decide to convert the idea into processing. This processing is in the form of manufacturing, advertising, forecasting and budgeting the overall development of the product.

Tags
Choose question tag
close menu
arrow
Merck Company Merck, a leading global pharmaceutical company, develops, manufactures, and markets a broad range of health-care products. In addition, the firm's Merck-Medco Managed Care Division manages pharmacy benefits for more than 40 million Americans. The company has established a website to serve as an educational and informational resource for Internet users around the world. To learn more about the company and its research, visit its award-winning site at www.merck.com. Find Merck's mission statement. Is Merck's focus on research consistent with the firm's mission and values?
Free
Essay
Answer:

Answer:

Mission statement of company M is to aid in achieving the goal of improving and saving the lives all over the world. The company is committed towards the improvement of health and well-being of the overall society.
Yes, the focus of company M on research is consistent with the mission and values of the firm. The main values are motivated by an aspiration to attain excellence for improving life, function with the utmost standards of honour and honesty, enlarge the access to the products and hire a varied employees that values teamwork, coordination and corporation.

Tags
Choose question tag
close menu
arrow
Merck Company Merck, a leading global pharmaceutical company, develops, manufactures, and markets a broad range of health-care products. In addition, the firm's Merck-Medco Managed Care Division manages pharmacy benefits for more than 40 million Americans. The company has established a website to serve as an educational and informational resource for Internet users around the world. To learn more about the company and its research, visit its award-winning site at www.merck.com. What products has Merck developed and introduced recently?
Essay
Answer:
Tags
Choose question tag
close menu
arrow
Caterpillar Inc. Crawls Over the Competition with Product Development Caterpillar Inc. is a global manufacturer of construction and mining equipment, machinery, and engines. The company is best known for its more than 300 machines, including tractors, forest machines, off-highway trucks, wheel dozers, and underground mining machines. Many of these machines are sold under the Cat brand, which consists of a Cat logo with the yellow pyramid over part of the "A." Since Caterpillar's machines and equipment are by far their most popular products, the organization must continually develop new products, modify existing ones, and spread awareness of its offerings to maintain its global competitive edge. The development of new products at Caterpillar involves a series of stages. Overseeing the product development process are product managers. Under their direction, the Caterpillar division will brainstorm ideas for new products or discuss ways to modify existing ones. The company screens relevant product ideas and then undergoes concept testing and business analysis to determine the likely demand and feasibility of the proposed ideas. When it comes to actually developing the product, quality is everything for Caterpillar. Creating high-quality products is embedded in Caterpillar's Code of Conduct as one of its highest values. Therefore, the company has adopted the quality control process of Six Sigma to detect, correct, and reduce problems before the product is released. After a working product is developed, Caterpillar releases the product on a limited scale and, should these test markets prove favorable, commercializes it on a national or global scale. This allows Caterpillar to gauge not only customer reaction to the product but also work out any manufacturing issues or problems that occur before launching it on a massive scale. When Caterpillar released its Cat CT660 Vocational Truck, it first released the truck into limited markets to make certain that it met quality standards and avoided major glitches. Once it passed these inspection processes, the Cat CT660 Vocational Truck was made available for large-scale shipment. Not all of Caterpillar's products are new. Many of the company's machines and much of its equipment are modified to meet changing customer needs or adhere to new governmental requirements. For instance, after being criticized for violating the Clean Air Act in 2000, Caterpillar began modifying its engines to be more eco-friendly. Previously, the company's engines were releasing too much pollution into the air, so Caterpillar created Advanced Combustion Emissions Reduction Technology (ACERT) engines to reduce the amount of gases released. Caterpillar's ACERT technology surpassed federal regulation requirements. However, tighter gas emission laws are requiring Caterpillar to modify its products once more. To meet new requirements, Caterpillar has partnered with Tenneco Inc. to create the Clean Emissions Module (CME) to reduce emissions even further. These modules are being placed in Caterpillar's ACERT engines. Caterpillar also refurbishes old machines to increase their life spans, a type of functional modification. Caterpillar has extended its product line into several different areas, including apparel, watches, toys, and jackets. Line extensions have both benefits and potential downsides. If the line extension has little to do with the core product, then the extension could fail or, even worse, contaminate the brand. On the other hand, line extensions can allow companies to branch out into other areas and increase brand awareness. For instance, Caterpillar-branded toy trucks and tractors allow consumers to become familiar with the Caterpillar name at a young age. Caterpillar has begun taking its line extensions a step further by licensing the Cat brand name to create Cat-branded lifestyle stores across the world. When first considering Cat-branded stores, Caterpillar was uncertain whether consumers would accept items like apparel and footwear in a retail environment. The company test-marketed the stores over a two-year period with outlets in the United Arab Emirates and China. Caterpillar has since decided to open stores on a wider global scale. The company has licensed its brand to Wolverine World Wide Inc. for Cat footwear and Summit Resource Imports/ SRI Apparel for Cat-branded apparel. Although it is riskier to create a product extension that is vastly different from Caterpillar's core products of machinery and equipment, Caterpillar expects to profit from these licensing arrangements with increased revenue and global brand awareness. Caterpillar is a company that must continually develop and manage its products to maintain its leadership in the construction industry. Its success at product management will likely lead the company to take advantage of future opportunities in the global market. What are some of the benefits and risks of Caterpillar's line extensions?
Essay
Answer:
Tags
Choose question tag
close menu
arrow
A company's marketing strategy may be revised to include new products as it considers its SWOT analysis and the impact of environmental factors on its product mix. When developing a marketing plan, the company must decide whether new products are to be added to the product mix or if existing ones should be modified. The information in this chapter will assist you in the creation of your marketing plan as you consider the following: Identify whether your product will be a modification of an existing one in your product mix or a completely new product. The information obtained from these questions should assist you in developing various aspects of your marketing plan found in the "Interactive Marketing Plan" exercise at www.cengagebrain.com.
Essay
Answer:
Tags
Choose question tag
close menu
arrow
What is a line extension, and how does it differ from a product modification?
Essay
Answer:
Tags
Choose question tag
close menu
arrow
Caterpillar Inc. Crawls Over the Competition with Product Development Caterpillar Inc. is a global manufacturer of construction and mining equipment, machinery, and engines. The company is best known for its more than 300 machines, including tractors, forest machines, off-highway trucks, wheel dozers, and underground mining machines. Many of these machines are sold under the Cat brand, which consists of a Cat logo with the yellow pyramid over part of the "A." Since Caterpillar's machines and equipment are by far their most popular products, the organization must continually develop new products, modify existing ones, and spread awareness of its offerings to maintain its global competitive edge. The development of new products at Caterpillar involves a series of stages. Overseeing the product development process are product managers. Under their direction, the Caterpillar division will brainstorm ideas for new products or discuss ways to modify existing ones. The company screens relevant product ideas and then undergoes concept testing and business analysis to determine the likely demand and feasibility of the proposed ideas. When it comes to actually developing the product, quality is everything for Caterpillar. Creating high-quality products is embedded in Caterpillar's Code of Conduct as one of its highest values. Therefore, the company has adopted the quality control process of Six Sigma to detect, correct, and reduce problems before the product is released. After a working product is developed, Caterpillar releases the product on a limited scale and, should these test markets prove favorable, commercializes it on a national or global scale. This allows Caterpillar to gauge not only customer reaction to the product but also work out any manufacturing issues or problems that occur before launching it on a massive scale. When Caterpillar released its Cat CT660 Vocational Truck, it first released the truck into limited markets to make certain that it met quality standards and avoided major glitches. Once it passed these inspection processes, the Cat CT660 Vocational Truck was made available for large-scale shipment. Not all of Caterpillar's products are new. Many of the company's machines and much of its equipment are modified to meet changing customer needs or adhere to new governmental requirements. For instance, after being criticized for violating the Clean Air Act in 2000, Caterpillar began modifying its engines to be more eco-friendly. Previously, the company's engines were releasing too much pollution into the air, so Caterpillar created Advanced Combustion Emissions Reduction Technology (ACERT) engines to reduce the amount of gases released. Caterpillar's ACERT technology surpassed federal regulation requirements. However, tighter gas emission laws are requiring Caterpillar to modify its products once more. To meet new requirements, Caterpillar has partnered with Tenneco Inc. to create the Clean Emissions Module (CME) to reduce emissions even further. These modules are being placed in Caterpillar's ACERT engines. Caterpillar also refurbishes old machines to increase their life spans, a type of functional modification. Caterpillar has extended its product line into several different areas, including apparel, watches, toys, and jackets. Line extensions have both benefits and potential downsides. If the line extension has little to do with the core product, then the extension could fail or, even worse, contaminate the brand. On the other hand, line extensions can allow companies to branch out into other areas and increase brand awareness. For instance, Caterpillar-branded toy trucks and tractors allow consumers to become familiar with the Caterpillar name at a young age. Caterpillar has begun taking its line extensions a step further by licensing the Cat brand name to create Cat-branded lifestyle stores across the world. When first considering Cat-branded stores, Caterpillar was uncertain whether consumers would accept items like apparel and footwear in a retail environment. The company test-marketed the stores over a two-year period with outlets in the United Arab Emirates and China. Caterpillar has since decided to open stores on a wider global scale. The company has licensed its brand to Wolverine World Wide Inc. for Cat footwear and Summit Resource Imports/ SRI Apparel for Cat-branded apparel. Although it is riskier to create a product extension that is vastly different from Caterpillar's core products of machinery and equipment, Caterpillar expects to profit from these licensing arrangements with increased revenue and global brand awareness. Caterpillar is a company that must continually develop and manage its products to maintain its leadership in the construction industry. Its success at product management will likely lead the company to take advantage of future opportunities in the global market. Why is Caterpillar so careful to test-market its products prior to commercialization?
Essay
Answer:
Tags
Choose question tag
close menu
arrow
A product manager may make quality, functional, or aesthetic modifications when modifying a product. Identify a familiar product that recently was modified, categorize the modification (quality, functional, or aesthetic), and describe how you would have modified it differently.
Essay
Answer:
Tags
Choose question tag
close menu
arrow
Merck Company Merck, a leading global pharmaceutical company, develops, manufactures, and markets a broad range of health-care products. In addition, the firm's Merck-Medco Managed Care Division manages pharmacy benefits for more than 40 million Americans. The company has established a website to serve as an educational and informational resource for Internet users around the world. To learn more about the company and its research, visit its award-winning site at www.merck.com. What role does research play in Merck's success? How does research facilitate new-product development at Merck?
Essay
Answer:
Tags
Choose question tag
close menu
arrow
Caterpillar Inc. Crawls Over the Competition with Product Development Caterpillar Inc. is a global manufacturer of construction and mining equipment, machinery, and engines. The company is best known for its more than 300 machines, including tractors, forest machines, off-highway trucks, wheel dozers, and underground mining machines. Many of these machines are sold under the Cat brand, which consists of a Cat logo with the yellow pyramid over part of the "A." Since Caterpillar's machines and equipment are by far their most popular products, the organization must continually develop new products, modify existing ones, and spread awareness of its offerings to maintain its global competitive edge. The development of new products at Caterpillar involves a series of stages. Overseeing the product development process are product managers. Under their direction, the Caterpillar division will brainstorm ideas for new products or discuss ways to modify existing ones. The company screens relevant product ideas and then undergoes concept testing and business analysis to determine the likely demand and feasibility of the proposed ideas. When it comes to actually developing the product, quality is everything for Caterpillar. Creating high-quality products is embedded in Caterpillar's Code of Conduct as one of its highest values. Therefore, the company has adopted the quality control process of Six Sigma to detect, correct, and reduce problems before the product is released. After a working product is developed, Caterpillar releases the product on a limited scale and, should these test markets prove favorable, commercializes it on a national or global scale. This allows Caterpillar to gauge not only customer reaction to the product but also work out any manufacturing issues or problems that occur before launching it on a massive scale. When Caterpillar released its Cat CT660 Vocational Truck, it first released the truck into limited markets to make certain that it met quality standards and avoided major glitches. Once it passed these inspection processes, the Cat CT660 Vocational Truck was made available for large-scale shipment. Not all of Caterpillar's products are new. Many of the company's machines and much of its equipment are modified to meet changing customer needs or adhere to new governmental requirements. For instance, after being criticized for violating the Clean Air Act in 2000, Caterpillar began modifying its engines to be more eco-friendly. Previously, the company's engines were releasing too much pollution into the air, so Caterpillar created Advanced Combustion Emissions Reduction Technology (ACERT) engines to reduce the amount of gases released. Caterpillar's ACERT technology surpassed federal regulation requirements. However, tighter gas emission laws are requiring Caterpillar to modify its products once more. To meet new requirements, Caterpillar has partnered with Tenneco Inc. to create the Clean Emissions Module (CME) to reduce emissions even further. These modules are being placed in Caterpillar's ACERT engines. Caterpillar also refurbishes old machines to increase their life spans, a type of functional modification. Caterpillar has extended its product line into several different areas, including apparel, watches, toys, and jackets. Line extensions have both benefits and potential downsides. If the line extension has little to do with the core product, then the extension could fail or, even worse, contaminate the brand. On the other hand, line extensions can allow companies to branch out into other areas and increase brand awareness. For instance, Caterpillar-branded toy trucks and tractors allow consumers to become familiar with the Caterpillar name at a young age. Caterpillar has begun taking its line extensions a step further by licensing the Cat brand name to create Cat-branded lifestyle stores across the world. When first considering Cat-branded stores, Caterpillar was uncertain whether consumers would accept items like apparel and footwear in a retail environment. The company test-marketed the stores over a two-year period with outlets in the United Arab Emirates and China. Caterpillar has since decided to open stores on a wider global scale. The company has licensed its brand to Wolverine World Wide Inc. for Cat footwear and Summit Resource Imports/ SRI Apparel for Cat-branded apparel. Although it is riskier to create a product extension that is vastly different from Caterpillar's core products of machinery and equipment, Caterpillar expects to profit from these licensing arrangements with increased revenue and global brand awareness. Caterpillar is a company that must continually develop and manage its products to maintain its leadership in the construction industry. Its success at product management will likely lead the company to take advantage of future opportunities in the global market. Why is it so important for Caterpillar to develop new products on a regular basis?
Essay
Answer:
Tags
Choose question tag
close menu
arrow
Whether you love them or hate them, the AXE commercials leave an indelible impression. The AXE brand, owned by Unilever, is meant to exude masculinity. First released under the Lynx brand name in France in 1983, AXE products did not hit American shelves until 2002. However, in a short time period, AXE products have revolutionized the male grooming market. AXE is the number-one male grooming brand in both the United States and Canada. The company features provocative advertisements of women falling over men who wear the AXE body spray. AXE body sprays are its most popular product, but when it first entered the U.S. market, the company was taking a risk. Until that time, body sprays were not marketed to men, as they were considered to be more of a girl's item. Yet AXE quickly gained popularity by honing in on what many young men care about. "Our target is really 18 to 24," said AXE brand manager Mike Dwyer. "Our ads are exactly what an 18-to-24-yearold guy is thinking about. It's gears and gadgets, it's sports, or it's girls. We focus very much on girls." AXE's product features are both tangible and psychological. On the tangible side, the smell of the product needs to be pleasing to both men and women. The psychological features of the product include desirability, masculinity, and seductiveness. To effectively manage the AXE brand, Unilever has to regularly develop new products and manage existing lines. Over the years, it has introduced several line extensions, including hairstyling, aftershave, skin care, and shower gel products. The company has also released an AXE fragrance called Anarchy for Her in Canada, so that girls can experience the "AXE Effect." Anarchy for Her is meant to complement the Anarchy for Him male fragrance and has more fruity and flowery scents. Each year, the company introduces a new fragrance. For example, one of its more recent fragrances includes a chocolate ice cream scent. In order to create scents that resonate with its young male demographic, AXE hires professional perfumers to develop the fragrance and even employs expert "smellers." Such efforts not only made AXE a market leader but also helped the male grooming industry as a whole. It is estimated that, by 2015, male grooming products will be a $33.2 billion industry AXE's sexualized marketing and its appeal to young men have become what Dwyer has called the "AXE Lifestyle." The styling of the product's package is meant to convey seductiveness (the traditional package is black, but the color changes depending on the product). AXE advertisements try to connect the action of attracting a woman to the product itself. For instance, the chocolate ice cream fragrance featured a commercial where women were licking the man after he used that particular scented body spray. Although AXE promotes itself through Twitter and events, its commercials tend to be its most notable promotion. Young men have gravitated toward the idea that AXE body spray can make them more desirable. However, what AXE perhaps did not anticipate was its popularity among younger generations: male teenagers and tweens (those between the ages of 10 and 12). Although these younger generations do not have jobs, they have significant influence in the family. Mothers often purchase these products for their children after they request them. Many of the promotions that appeal to young men seem to appeal to preadolescents-namely, the desire to be accepted and feel "sexy." Because preadolescence is the age when many young men become more conscientiousness of their looks, AXE provides a way for them to feel more confi dent about their body image. Unfortunately, preadolescents tend to over-spray, and some schools have even banned the body spray because it is distracting in class. Although the AXE brand can profit from its popularity among the tween generation, this trend can also backfire. Young men traditionally have shied away from products that are popular with those young enough to be their "kid brothers." Therefore, AXE makes it clear that its target market is for those between the ages of 18 and 24. To respond to these changing trends, AXE will need to continue developing and adapting products to meet the needs of its target market and take advantage of new market opportunities. Why are younger generations attracted to AXE products?
Essay
Answer:
Tags
Choose question tag
close menu
arrow
A company's marketing strategy may be revised to include new products as it considers its SWOT analysis and the impact of environmental factors on its product mix. When developing a marketing plan, the company must decide whether new products are to be added to the product mix or if existing ones should be modified. The information in this chapter will assist you in the creation of your marketing plan as you consider the following: If the product is an extension of one in your current product mix, determine the type(s) of modifications that will be performed. The information obtained from these questions should assist you in developing various aspects of your marketing plan found in the "Interactive Marketing Plan" exercise at www.cengagebrain.com.
Essay
Answer:
Tags
Choose question tag
close menu
arrow
Compare and contrast the three major approaches to modifying a product.
Essay
Answer:
Tags
Choose question tag
close menu
arrow
Marketers use different approaches in new-product development in order to identify the relative importance of different product attributes. These approaches help marketers optimize product design, predict purchasing likelihood, and estimate market share in a competitive situation. As an example, different restaurants have varying attributes, including ambience, breadth of menu, service level, location, and price. Consumers place different value on each of these attributes and are consequently willing to make "trade-offs." Higher service levels often mean a higher price, for example. A broader menu often accompanies a restaurant with a nicer ambience, but it comes at a higher price. Marketers can assign weights to the different values that consumers place on the product attributes, and thereby understand the trade-offs that are made. You are designing a new tablet computer. Begin by identifying the set of all product attributes. Rate these attributes on a scale of 1 to 10, with 1 being the most important and 10 being the least important. For instance, would you rate ease of use higher than the aesthetic design of the product? How important is it for the tablet to have the newest technological features? Remember, the more sophisticated and tech-savvy the product, the more expensive it is likely to be. Finally, make a recommendation for the new tablet computer design.
Essay
Answer:
Tags
Choose question tag
close menu
arrow
Identify and briefly explain the seven major phases of the new-product development process.
Essay
Answer:
Tags
Choose question tag
close menu
arrow
Phasing out a product from the product mix often is difficult for an organization. Visit a retail store in your area, and ask the manager what products he or she has had to discontinue in the recent past. Find out what factors influenced the decision to delete the product and who was involved in the decision. Ask the manager to identify any products that should be but have not been deleted, and try to ascertain the reason.
Essay
Answer:
Tags
Choose question tag
close menu
arrow
Do small companies that manufacture just a few products need to be concerned about developing and managing products? Why or why not?
Essay
Answer:
Tags
Choose question tag
close menu
arrow
When developing a new product, a company often test-markets the proposed product in a specific area or location. Suppose you wish to test-market your new, revolutionary SuperWax car wax, which requires only one application for a lifetime finish. Where and how would you test-market your new product?
Essay
Answer:
Tags
Choose question tag
close menu
arrow
Whether you love them or hate them, the AXE commercials leave an indelible impression. The AXE brand, owned by Unilever, is meant to exude masculinity. First released under the Lynx brand name in France in 1983, AXE products did not hit American shelves until 2002. However, in a short time period, AXE products have revolutionized the male grooming market. AXE is the number-one male grooming brand in both the United States and Canada. The company features provocative advertisements of women falling over men who wear the AXE body spray. AXE body sprays are its most popular product, but when it first entered the U.S. market, the company was taking a risk. Until that time, body sprays were not marketed to men, as they were considered to be more of a girl's item. Yet AXE quickly gained popularity by honing in on what many young men care about. "Our target is really 18 to 24," said AXE brand manager Mike Dwyer. "Our ads are exactly what an 18-to-24-yearold guy is thinking about. It's gears and gadgets, it's sports, or it's girls. We focus very much on girls." AXE's product features are both tangible and psychological. On the tangible side, the smell of the product needs to be pleasing to both men and women. The psychological features of the product include desirability, masculinity, and seductiveness. To effectively manage the AXE brand, Unilever has to regularly develop new products and manage existing lines. Over the years, it has introduced several line extensions, including hairstyling, aftershave, skin care, and shower gel products. The company has also released an AXE fragrance called Anarchy for Her in Canada, so that girls can experience the "AXE Effect." Anarchy for Her is meant to complement the Anarchy for Him male fragrance and has more fruity and flowery scents. Each year, the company introduces a new fragrance. For example, one of its more recent fragrances includes a chocolate ice cream scent. In order to create scents that resonate with its young male demographic, AXE hires professional perfumers to develop the fragrance and even employs expert "smellers." Such efforts not only made AXE a market leader but also helped the male grooming industry as a whole. It is estimated that, by 2015, male grooming products will be a $33.2 billion industry AXE's sexualized marketing and its appeal to young men have become what Dwyer has called the "AXE Lifestyle." The styling of the product's package is meant to convey seductiveness (the traditional package is black, but the color changes depending on the product). AXE advertisements try to connect the action of attracting a woman to the product itself. For instance, the chocolate ice cream fragrance featured a commercial where women were licking the man after he used that particular scented body spray. Although AXE promotes itself through Twitter and events, its commercials tend to be its most notable promotion. Young men have gravitated toward the idea that AXE body spray can make them more desirable. However, what AXE perhaps did not anticipate was its popularity among younger generations: male teenagers and tweens (those between the ages of 10 and 12). Although these younger generations do not have jobs, they have significant influence in the family. Mothers often purchase these products for their children after they request them. Many of the promotions that appeal to young men seem to appeal to preadolescents-namely, the desire to be accepted and feel "sexy." Because preadolescence is the age when many young men become more conscientiousness of their looks, AXE provides a way for them to feel more confi dent about their body image. Unfortunately, preadolescents tend to over-spray, and some schools have even banned the body spray because it is distracting in class. Although the AXE brand can profit from its popularity among the tween generation, this trend can also backfire. Young men traditionally have shied away from products that are popular with those young enough to be their "kid brothers." Therefore, AXE makes it clear that its target market is for those between the ages of 18 and 24. To respond to these changing trends, AXE will need to continue developing and adapting products to meet the needs of its target market and take advantage of new market opportunities. How has AXE managed its product mix?
Essay
Answer:
Tags
Choose question tag
close menu
Showing 1 - 20 of 30