Think of a new product you recently purchased or used, or an ad for a new product.
Share with the class this new product idea; in addition to describing this new item indicate whether this new product is either additions to existing product lines or improvements or revisions of existing products.
Do you believe your new product will be among the few new product ideas that are truly successful?
Why or why not?
Suggestion: if you can find a link to your product online, include the link in your response so your classmates can view the product you are reviewing.
The initial post by day 5 should be a minimum of 150 words. If you use any source outside of your own thoughts, you should reference that source. Include solid grammar, punctuation, sentence structure, and spelling.
Part B
A Project to Fail
The world of marketing is multifaceted and offers unending challenges that require creative thinking to make a difference. For this weeks assignment I offer the challenge for you to look around your city/neighborhood for a product or business that has failed in the marketplace. What happened to cause this business or product to fail? This assignment is meant to get you thinking outside the box, and to have fun and be creative. There is no right or wrong answer. Building a better mousetrap won’t guarantee success, and this assignment drives this message home.
Through this assignment you will learn that failure is a valuable learning tool and that many great ideas are born from the experience of failure are well on the road to success. Through this assignment you will be able to showcase the knowledge you gained from this weeks reading and lecture on the first element of the marketing mix, “Product”, and if you choose you can use the product life cycle to assist you in explaining how the business/product failed.