What methods would you suggest to assess the potential commercial success for the following new products?
- A new, improved ketchup
- A three-dimensional television system that took the company 10 years to develop
- A new children's toy on which the company holds a patent
A new, improved ketchup.
First, the marketer should check published information if the new and improved ketchup has been marketed in the past. For example, Heinz has tried to market several new ketchups and has failed. If the flavor or the color of the ketchup is similar to something that Heinz has tried out and has failed, the chances of commercial success is low. This is the easiest way of checking out if the product is likely to succeed. Another method that may be used is to actually ask some customers if they will be willing to buy the new, improved ketchup and under ...
The response provides you a structured explanation of secondary and primary data for commercial success . It also gives you the relevant references.