Computer Friendly Stuff Establishing a Term Paper

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However, pricing has stabilized and marketing is aimed at mainstream demographics.

CFS' last product, Chubby Stubbies, is at the very early phase of the introduction stage. The company is still working on test marketing, and building product awareness to develop a market for this product. Product quality still has to be established, and it is uncertain if intellectual property protection, such as patents and trademarks, have been secured yet or not. Pricing has yet to be determined, and the organization may wish to garner market penetration with a low pricing strategy, or they may need to utilize high skim pricing to recoup some of their development costs, given their limited financial resources. Distribution will be limited until consumer acceptance is certain, and promotion will be geared towards building brand awareness and educating potential buyers.

3. When considering next year's marketing plan, CFS may wish to implement a more efficient method of analyzing its new product development process.

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The current screening method of new product development was described as jotting down ideas and placing them in a file folder, as they came. These are then analyzed at random times, whenever the senior management feels they have time.

A more efficient and effective method of new product development may be to formalize this process. Certainly, each member of the organizational team can jot down their ideas as they come, however a specified brainstorming time should be established, whether it's monthly, quarterly, or bi-annually, to ensure that the new products CFS hopes to develop come to fruition. During this time, each product idea can be analyzed to determine if it fits the company's strategic objectives and….....

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