New Product Development

  • 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.

The requirements below must be met for your paper to be accepted and graded:

  • Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.
  • Attempt APA style, see example below.
  • Use font size 12 and 1” margins.
  • Include cover page and reference page.
  • At least 60% of your paper must be original content/writing.
  • No more than 40% of your content/information may come from references.
  • Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.
  • Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.

Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as, scholarly journals found in EBSCOhost, online newspapers such as The Wall Street Journal, government websites, etc. Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.

A detailed explanation of how to cite a source using APA can be found here (link).

Download an example here

Suggestive Links for products that have failed:

Grading Criteria Assignments Maximum Points
Meets or exceeds established assignment criteria 40
Demonstrates an understanding of lesson concepts 20
Clearly presents well-reasoned ideas and concepts 30
Uses proper mechanics, punctuation, sentence structure, and spelling 10
Total 100
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