Question

In: Accounting

Visit a local retailer and while you are there, you need to find a NEW product....

Visit a local retailer and while you are there, you need to find a NEW product. It could be identified on the store shelf or on the packaging of the product, but be sure it is identified as NEW to the market. Then, please answer the following questions:

  1. What is the name of the product? Do you think this product is increasing the breadth or the depth of the product line? Why did you choose your answers? Support this argument with course material.
  2. Is the brand name of the product a good fit for the product? Why or why not? Again, support this argument with course material.
  3. Did the maker of the product use packaging and labeling well? List and describe the packaging or labeling strategies you see being used.
  4. Do you think this new product will diffuse quickly or slowly through the marketplace? Why? Go into detail using at least one of the characteristics influencing the diffusion of innovation (found in Chapter 12) to support your answer.

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Expert Solution

solution

In the wake of visiting a nearby retailer, I found an item extremely new in the market. I discovered it on the rack of the store. It is a froth making machine. You can suggest embed fluid cleanser into the machine and it can make froth inside seconds. Its name is Whoosh. It is another item and is exceptionally appealing to youngsters' as kids resembles showering with froth rather than cleanser. Whoosh name is additionally stable ideal for the item as it is demonstrating something identified with cleanser and water.

The item will expand the broadness and profundity of the cleanser product offering. Item does not have a place with a known brand. Despite the fact that the brand name Whoosh is reasonable for the item, it isn't known as the item is created locally and is new to the market. The bundling and marking of the item have progressed admirably and appropriate directions to utilize the item is given at the rear of the bundle. The item is extraordinary and new however it needs greater perceivability with the goal that it tends to be seen to the clients. It can possibly be diffused rapidly in the market as it offers altogether different capacity which isn't yet offered by some other item. Particularly when kids' view the item, they will approach their folks to get it for them and numerous guardians will themselves feel to get it for their children's. It is cool and simple to utilize. Costs


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