Question
Large corporations and businesses introduce new products and services in order to fulfill a market need and make profits. The new-product development process is discussed
Large corporations and businesses introduce new products and services in order to fulfill a market need and make profits. The new-product development process is discussed in your text. Using this as a basis, research product failures that have affected companies in the past and have cost them a substantial amount of money and may also have adversely affected their market reputation, tarnishing their brands.
Research the web and pick one such product failure for a Fortune 500 company and describe this failure. NOTE: A product failure, not a "company" failure such as Blockbuster and not a "discontinued" product because of a failed part, such as the Ford Pinto which was in production and sold for 10 years but was discontinued because of a faulty fuel system and placement of its gas tank. Also, do not select a subscription service, platform, add-in's, apps. Products are tangible and services are intangibles.
At a minimum, you are expected to provide:
- Information about the company
- The product
- The rationale for the introduction of this product
- The costs associated with the product (development and losses)
- Synthesize your position on 3 - 5 reasons or specific factors you believe most likely contributed to the product failure, using the product development process in the text
- Offer your analysis.
This is a one to two paragraph exercise - do not go overboard, concise description of the company, product, and major reasons you believe it failed.
Suggested Failure Examples For Review (that you may use)
- McDonald's Arch Deluxe Burger
- New Coke
- Pepsi Crystal
- Coors Rocky Mountain Sparkling Water
- HP Touchpad
- Sony Betamax
- Ford Edsel
- ESPN Mobile Phone
- Microsoft Zune
Not Considered Failures
- Samsung Galaxy Phone (battery failed)
- WOW Chips (profited from the product)
- Heinz Colored Ketchup (profited from the product)
Use three or more references and citations, in APA, to support your position.
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