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- Two MBA students embarked on their venture thesis. They were Ronaldo Pingol and Cristina Pastrana. They developed a new product called Lampturn. Essentially, this new product was a desk lantern that reflected colorful and moving images onto the lantern screen. The product was positioned as a novelty night lamp for children's bedrooms or a mood lamp for living rooms. The images were illuminated on the lampscreen by an electric bulb of small-wattage. As the lamp was lit, the heat of the lamp caused the lamp to turn. While the screen revolved around the four sides of the rectangular lamp, an illusion of changing shapes and sizes was created while the images moved from one end of the screen to another.Discuss the 3 4challenges in Product Develapment ? |-Trade offs g 2-Dmamics: Time Plessures 3- 4-E conomics?Answer questions 3-6 in relation to that product: Questions Please note the product chosen is mineral water. explain each question in details (1) Describe the product that you have Chosen . (2) Comment on the information provided on the label (3) How does the price of the product compare to the prices of the similar products in the category? (4) Who (which target market) is the product targeted to? (5) What consumer need does the product satisfy? (6) What marketing activities are used to promote the product in the store and nationally?
- What are the advantages and disadvantages for companies that are thefirst to introduce products that create new markets?When the primary selection criteria a firm uses to decide whether or not to enter a new market segment centers around not having to develop a whole new set of products to meet the needs of that new segment, the firm would be referring to: Compatibility with the firms existing product A line. The ability of the new segment to afford its В product. The anticipated growth potential of the new segment The potential responsiveness of the the new D segment.In which stage of the product life-cycle would you place Mi Ola’s products? In this stage, would you expect Helena Fogarty to put more emphasis on developing new products, deleting existing products, or modifying existing products? Why?
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