1. New products fail at a very high rate, often greater than 75%. Demonstrate a graduate-level response that communicates your indepth rationale that accounts for why so many products fail upon their introduction. Based on this, to what should marketers be sensitive when introducing a product that is new to the market?
2. You are the media planner for an advertising agency, responsible for the placement of your client's ads in various media. Your client's product is a "smart" robotic lawnmower (Robo-mower) that one can easily "program" to cut a home lawn. Robo-mower will only cut grass within its programmed area and it will avoid flower beds, rocks, sidewalks, etc., while you sit in the hammock, enjoying the summer! An emergency "cut-off" switch brings it to a full stop in one-quarter of a second.
Select four (4) advertising media that you would consider for an ad placement and indicate THREE (3) advantages and THREE (3) disadvantages of those that you select for advertising the Robo-mower.
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New products fail at a very high rate, often greater than 75%. Demonstrate a graduate-level response that communicates your in-depth rationale that accounts for why so many products fail upon their introduction. Based on this, to what should marketers be sensitive when introducing a product that is new to the market?
New marketing research techniques have made tremendous progress over the last three decades in an attempt to understanding human behavior and how they react to new products. With all these new developments, one would expect new products to have a lower failure rate, yet it remains at an all time high especially for consumer goods. Many factors have been deemed to contribute to this high failure rate, with one of the common ones being competence. The failure by management to comprehend the needs and wants of the consumer has been at the core of products failing at their market introduction. It is however generally expected that competence would increase due to new marketing techniques as this is the purpose they were designed for. The marketing managers responsible for new product decisions are usually very experienced at what they do, with great research information of how they can make new products succeed. Unfortunately, this very desire to succeed is seen to be partially responsible for the product failure fails since it can be deemed that whilst the marketing managers have all this knowledge, they seem to fail to look at the numbers in terms of consumer ...
How marketers are sensitive when introducing a product is determined.