Answer to Question #244902 in Marketing for Sishi

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)

1.Idea generation (2 marks)

2.Concept development and testing (2 marks)

3.Marketing strategy development

4.Product development

5.Commetialization

Answer 1

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