Answer to Question #244614 in Marketing for Mandy

Question

Assume you are part of the Sneaker Shacks marketing team. The company wants to
diversify its product and service offering. You suggest that the new product development
process is used. Provide a practical application of each step of this process to come up
with a new product / service that The Sneaker Shack can implement and whether this
idea would be feasible in the market. (This means that you need to provide examples of
what you came up with at each step and not provide any theory in your answer – give a
description of what you would have discussed in your team during each stage – any
reasonable scenarios / assumptions can be made when answering this question.) (10)
i. Idea generation (2 marks)
ii. Concept development and testing (2 marks)
iii. Marketing strategy development (2 marks)
iv. Product development (2 marks)
v. Commercialisation (2 marks)

Answer 1

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