General Mills and Hershey have joined forces to create new cereals. They are developing a Jolly Ranchers cereal featuring such flavors as grape, cherry, and green apple. The marketing strategy is in place and top management is onboard. Several prototypes have been formulated by R&D. The final prototype is now being tested rigorously to ensure FDA acceptance. Once approved the next move is - commercialization internal marketing portfolio analysis test marketing business analysis Which of the following costs is often associated with commercialization? Paying third-party sources for crowdsourcing Renting a manufacturing facility Using simulated test markets to pinpoint market potential Formulating the marketing budget Determining the list price of the new product offering Kobo manufactures tablets for the active reader. It constantly strives to overcome some of the issues raised by its customers about competitive offerings such as screen glare and bulkiness. Hence, it introduced the Kobo Clara HD for nighttime reading. This ..... approach is consistent with the tenets of successful NPD. marketing myopic competitor-inspired customer-centric incremental adaptive response Which of the following statements is true about the product life cycle (PLC)? Product offerings move through the PLC stages in the same order its difficult to forecast product sales at each PLC stage The PLC can be applied to clothing styles but not to fashions and fads As a rule, product forms have longer life cycles than product classes Irrespective of industry, each product goes through all stages of the PLC Toyota Prius (hybrid vehicle) was introduced to the marketplace in 1997. Since its release, Toyota has had remarkable sales and Prius has remained relatively unchanged. However, over the last two years, sales of Priuses haven been stagnant. Competitors le... Chevy Volt) have begun to lower prices and to offer aggressive sales promotions. Toyota Prius is now in the stage of the product life cycle. Incubation growth decline maturity Introduction Epiphone Les Paul - 100 Electrical Guitar is the must-have for beginners. However, it has reached the maturity stage of the PLC, and Epiphone Les Paul marketers have decided it's time to modify the product. What will they do to achieve this goal? Cut prices of the guitar to attract new customers Offer coupons for the guitar Change distributors Change the packaging of the guitar Launch a TI Tok advertising campaign LEGO is a Danish toy manufacturer. To spur innovation, the company's website invited customers to submit ideas for possible product offerings. LEGO assured participants that short-listed ideas would be recognized in its linear and social media campaigns. On these facts. LEGO is tapping into ..... consumer analysis Idea mavens test marketing crowdsourcing concept development
