MT 219 MT219 MT/219 Developing and Managing New Products

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MT 219 MT219 MT/219 Developing and Managing New Products

Developing and Managing New Products Chasity Dillard Kaplan University Marketing

New Product Development Process

Part 1: Short Essay: Write a minimum 200 words in response to each of your 3 essay questions using research from your textbook to help substantiate your understanding of products and the new product development process. Apply APA style referencing in your writing.

1. With regard to consumer appeal, compare and contrast the GaGa’s brand with the Sherbetter name of the product. “A brand is a name, term, or symbol that identifies and differentiates a firm’s products” (Lamb, 2013, p. R19).

For a product, consumer appeal would refer to the how well the product grabs interest just by the look or even simply just by the name of the product.

GaGa and Sherbetter are options for the product in the video. Gaga refers to the grandmother who had the recipe that made this product come into existence. Sherbetter was a brand name that came from the idea that this is a frozen treat, somewhere between ice cream and sherbet.

The name was based on the thought that this product wasn’t sherbet, but it was better than sherbet, thus creatingthe brand of Sherbetter. The brand name is something that is considered very important, as a badname can really turn shoppers away.

When it comes to a product that is not exactly “popular”, it is even more important for a product to have a brand name and a look that appeals to the consumer. It is important for the brand of a product to be associated with the type of product it is.

“Consumer products are classified into four categories: convenience products, shopping products, specialty products, and unsought products” (Lamb, 2013, p. R19). Gaga is not really a sherbet or an ice cream, so trying to create a brand name that would associate them with such a product would be a mistake.

It would be like Hydros being the name of a cookie, where it should be the name of a cleaning product. Five product characteristics can be used to predict and explain the rate of acceptance and diffusion of a new product” (Lamb, 2013, p. 188).

Complexity is first. It would be more complex for the name to be Sherbetter. Compatibility is next. This product is similar to ice cream or sherbet, but not close enough to make its name brand so close. Also considering that the product line offers bars in addition to pints makes Gaga the better choice. Relative advantage is another. I don’t think either is better when it comes to this factor. Observability is another.

MT 219 MT219 MT/219 Developing and Managing New Products

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