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Principles of Marketing

Critical Thinking Exercises

Principles of MarketingCritical Thinking Exercises

Critical Thinking Exercises

1 .
From a consumer perspective, what motivates you to try a new product? What new products have you tried in the last year? Did you continue to purchase them after the initial trial?
2 .
Idea generation is the first step in new product development. Where do those ideas come from? Do all the ideas that are suggested make it to the prototype stage? Explain your answers.
3 .
Success and failure are always possible outcomes of new product development. Describe two factors that may lead to success and two factors that may lead to failure of a new product.
4 .
Ethical considerations of new product development include avoiding violations of patents, trademarks, and/or copyrights. How can marketing and R&D departments work to make sure that they do not violate these standing rights?
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