A fast-food chain wanted to add a new product to its breakfast menu. The company considered a pancake shaped like a muffin. The problem was determining how a customer would add syrup to the pancake while eating and driving
Fortunately, one of the company's suppliers developed a crystallized syrup that seeps through the pancake once it is heated. Explain the phase of new-product development that occurred during this process with the chain and its supplier? Support your rationale.
Technical development occurred during this scenario with the fast-food chain and its supplier. Technical development occurs when a firm's engineers work with marketers to refine the design and production process. The pancake was refined and redesigned to allow the new type of syrup to be added to the pancake.
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Indicate whether the statement is true or false
Oaties is the market leader in the breakfast cereals category in the southwest region. The
company uses the market structure -market share method of competition identification. Which of the following companies will Oaties NOT consider to be a direct competitor according to this method? A) Chuck's is a lesser-known company that has a small share of the breakfast cereal market. B) Chocotreat is a rival company that specializes in making a patented chocolate -corn cereal. C) Wholesome is a market niche firm that specializes in cereals manufactured from organic sources. D) Morningtown is the market leader in the pancakes segment, the main alternative to cereals as a breakfast food.