You are the new Marketing Manager at your company Campbell Soup (Canada only.) Your company is thinking of introducing a new product (new Squid Soup. $10 a can)

1. Define your product as a business product or a consumer product or both and as one of a convenience product, shopping product, specialty product or unsought product.
2. What kind of brand strategy should you use for this product: private brand, individual brand or family brand?
3. Thinking about your company and your industry in general, at what stage of the product life cycle are they? At what stage of the product life cycle is your new product going to be?
4. Design a new product development process for this product: you have
   1. A budget of $200,000 for focus groups (eight people in each group). One on-line focus groups costs $5,000 and one face-to-face focus group costs $10,000
   2. A budget of $200,000 for surveys: the cost per interview is $100 for online, $200 for telephone and $400 for face-to-face
   3. You must propose research for the three following steps:
      1. Idea generation
      2. Idea screening
      3. Development

You must use up your entire budget and you must propose what research you would do in each step and WHY.

1. You have a budget of $200,000 for testing, would you choose a test market or a simulated laboratory? Why?