Marketing - Standalone book
Marketing - Standalone book
13th Edition
ISBN: 9781259573545
Author: Roger A. Kerin, Steven W. Hartley
Publisher: McGraw-Hill Education
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Chapter 10, Problem 3VC
Summary Introduction

Case summary:

Company X was started as an ordinary idea for a school project and has rapidly developed to become the topmost leader in sweatproof, waterproof, and weatherproof audio tools for athletes. The company became clear that the audio equipment concept of waterproof will appeal to numerous applications except scuba diving. The process of new-product development is an ongoing activity at Company X.

Characters in the case:

  • Company X

Introduction:

A product is a service or physical item that can be offered or made to a customer in order to satisfy their wants and needs. A company gets new products in two ways. One is acquisition and another one is developing a new product.

To determine: The new product development process that is used by Company X, the similarities and variations to the process.

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I need answer typing clear urjent no chatgpt used pls i will give 5 Upvotes.
In your expert opinion, what do you think is the most effective and efficient way for small business owners to promote and market their products/services? Why? How have you seen the use of referrals and word of mouth advertising work to the benefit of a small business owner?  Please would you kindly provide some examples. How have these methods worked in reverse (to the disadvantage of the owner but possibly benefit the competition)?
In your Expert Opinion, How do the risks differ when you start your business using a purely product development process versus a purely customer development process approach? What are the elements that go into a customer profile and why is each one useful? What are some of the ways that you could use secondary research to better understand the various segments of your market and to develop promotional materials?
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