Question

In: Finance

Q12. Dormentor Inc. produces, converts, and markets packaging products including boxboard, container board, and numerous other...

Q12. Dormentor Inc. produces, converts, and markets packaging products including boxboard, container board, and numerous other specialty packaging products. In an attempt to increase its organic growth, the company decides to introduce new products. It asks the managers and employees to send in ideas for new products. Before launching products based on any of these ideas, what are the stages that the company has to go through? (1 point, word limit: 100 words)

Solutions

Expert Solution

Examples of a new product include the below mentioned items . Kindly note the below mentioned list is not an exhaustive one .
1 Making Tetra pack like packaging product
2 Making heatproof packaging material packing food items or durable products
Stages to be considered before the launch of the product include
1. Idea gathering stage
The first stage is the idea gathering stage and all the different ideas are invited from the employees advisors top management etc
2. Idea selection stage
The Idea selection stage is the stage of screening of the various ideas obtained to narrow down the best product idea to implement
3. Research stage
Once the idea is selected the R & D department shall carry out the testing of the product if it is possible to make and market the product
4. Preliminary testing phase
The preliminary testing phase involves the entity to evaluate the if the product is functioning as per the desired traits and meets the required target of the product
5. Feasibility study
The next stage is the feasibility study of the product and it is evaluated how the product would incurr cost and revenue will be generated . This stage also requires to make a forecasted PL of the product proposed ti be launched
6. Commercial production and pricing
This stage involves setting up of a factory or machines in order to mass-produce the product and reduce the cost to sustainable levels and also to evaluate the pricing strategy either cost leadership,
7. final stage - launch of the product
This involves actual launch of the product in the consumer market

jeff jeffy answered 3 months ago
Next > < Previous

Related Solutions

Saputo Inc. produces, markets, and distributes a wide variety of products, including cheese, fluid milk, yogurt,...
Saputo Inc. produces, markets, and distributes a wide variety of products, including cheese, fluid milk, yogurt, dairy ingredients, and snack cakes. It is the largest dairy processor in Canada and serves customers in over 50 countries.    The following transactions occurred during a recent year. Amounts are in millions of dollars. a. Issued $30 in shares to investors (example). b. Purchased $149 of additional property, plant, and equipment for cash. c. Incurred $309 in selling expenses with two-thirds paid in...
Kaizer Plastics produces a variety of plastic items for packaging and distribution. One item, container #145,...
Kaizer Plastics produces a variety of plastic items for packaging and distribution. One item, container #145, has had a low contribution to profits. Last year, 20,000 units of container #145 were produced and sold. The selling price of the container was $25 per unit, with a variable cost of $16 per unit and a fixed cost of $70,000 per year. (a) Construct a correct, flexible, and documented base-case spreadsheet model that allows the user to easily vary the inputs to...
Malden Outdoor Products Inc. produces several products, including handmade large fiberglass planters for outdoor displays. The...
Malden Outdoor Products Inc. produces several products, including handmade large fiberglass planters for outdoor displays. The firm, which began operations at the beginning of this year, uses a standard cost system. The standard costs for one large planter are: Direct material (3 lbs. @ $8.00) $ 24.00 Direct labor (2 hrs. @ $15.00) 30.00 Variable overhead 24.00 Fixed overhead 6.00 Standard cost per unit $84.00 The $6.00 fixed overhead rate is based on total budgeted fixed overhead costs of $18,000...
Demand function specifies other factors that management will often consider, including the design and packaging of...
Demand function specifies other factors that management will often consider, including the design and packaging of products, the amount and distribution of the firm’s advertising budget, the size of the sales force, promotional expenditures, the time period of adjustment for any price changes, and taxes or subsidies. For this discussion forum, consider your favorite consumer product (e.g. cell phone, car, cereal, restaurant, hair gel, etc.) and describe the variables that might be part of the demand function (i.e. substitute good,...
The Winter Products Division of American Sports Corporation produces and markets two products for use in...
The Winter Products Division of American Sports Corporation produces and markets two products for use in the snow: Sleds and Saucers. The following data were gathered on activities last month:                                                                               Sleds             Saucers Sales in units                                                         2,000                9,000 Selling price per unit                                               $50                  $20 Variable production costs per unit                           $20                    $5 Traceable fixed production costs                    $12,000         $33,000 Variable selling expenses per unit                           $2                     $1 Traceable fixed selling expenses                  ...
Plastic Products Ltd Plastic Products Ltd is a company that produces and markets plastic cups, teaspoons,...
Plastic Products Ltd Plastic Products Ltd is a company that produces and markets plastic cups, teaspoons, knives and forks for the catering industry. The company was established in 1974 in response to the changes taking place in the catering industry. The growth of the fastfood sector of the market was seen as an opportunity to provide disposable eating utensils which would save on human resources and allow the speedy provision of utensils for fast customer flow. In addition, Plastic Products...
ABC ltd is a circuit board producer and produces two products, L1 & L2. The company...
ABC ltd is a circuit board producer and produces two products, L1 & L2. The company currently uses traditional costing system for making business decisions. However, recently the company is considering a move towards the Activity-Based Costing (ABC) system. As one of the company’s accountant’s you have been asked to prepare a statement comparing both the costing methods for the next company board meeting. Your supervisor has given you the following quarterly data: - Total Indirect Costs for the quarter:...
The demand for solvent, one of numerous products manufactured by RZM Industries Inc., has dropped sharply...
The demand for solvent, one of numerous products manufactured by RZM Industries Inc., has dropped sharply because of recent competition from a similar product. The company’s chemists are currently completing tests of various new formulas, and it is anticipated that the manufacture of a superior product can be started on June 1, one month in the future. No changes will be needed in the present production facilities to manufacture the new product because only the mixture of the various materials...
The demand for solvent, one of numerous products manufactured by RZM Industries Inc., has dropped sharply...
The demand for solvent, one of numerous products manufactured by RZM Industries Inc., has dropped sharply because of recent competition from a similar product. The company’s chemists are currently completing tests of various new formulas, and it is anticipated that the manufacture of a superior product can be started on June 1, one month in the future. No changes will be needed in the present production facilities to manufacture the new product because only the mixture of the various materials...
The demand for solvent, one of numerous products manufactured by RZM Industries Inc., has dropped sharply...
The demand for solvent, one of numerous products manufactured by RZM Industries Inc., has dropped sharply because of recent competition from a similar product. The company’s chemists are currently completing tests of various new formulas, and it is anticipated that the manufacture of a superior product can be started on June 1, one month in the future. No changes will be needed in the present production facilities to manufacture the new product because only the mixture of the various materials...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT