You have recently started working as a product analyst at a company that manufac

Question

You have recently started working as a product analyst at a company that manufactures and sells a variety of soft drink products. One of your first jobs is to categorize each of the firm's new products for the upcoming year into the appropriate new product category for a presentation you are putting together for your manager. A new product is one that is new to a company in any way. If a product is functionally different from existing products in the market or is not marketed in its current form or manner by the company, it can be considered a new product. We categorize new products in the following four ways: New-to-the-market products New category entries Product line extensions Revamped products A company's core competencies and strengths influence its strategy toward developing new products. Firms that have a strong research and development (R&D) department will focus on developing new-to-the-market products to beat the competition, while firms that have a strong brand and company image can take advantage of existing products to extend or revamp their current product lines with similar but somehow differentiating attributes. Match the new product with the appropriate new product category. 1. Smartphone app that can scan any beverage and show you the exact nutritional components in detail. 2. Candles that make your home smell like your favorite cola. 3. Selling a more caffeinated version of your traditional cola targeted at younger consumers. 4. A 5-ounce package of your popular cola product that is better for the environment. 5. New beverage that can be made from concentrate for international consumers in a way that has never been done. 6. Selling suntan lotion that has the scent of your favorite cola. 7. New 10-calorie version of the company's cola product that is targeted to male consumers. 8. Diet soda product using a new type of artificial sweetener.

Explanation / Answer

Answers for new product with its appropriate strategy adopted.

1. Smartphone app that can scan any beverage and show you the exact nutritional components in detail - Revamped Product Because its value added feature to present exsiting product.

2 Candles that make your home smell like your favorite cola - New category entries as itis not related to exsiting product. but it would produce smell which will relate to your favorite cola so its new category entry.as primary product is different.

3. Selling a more caffeinated version of your traditional cola targeted at younger consumers Product line extensions. its like extension from traditional cola to caffeinated version.

4.A 5-ounce package of your popular cola product that is better for the environment. Revamped products as its just means of new packaging for better environment.

5. New beverage that can be made from concentrate for international consumers in a way that has never been done Product Line Extensions & New-to-the-market products to extend in different market

6 Selling suntan lotion that has the scent of your favorite cola New category entries as its not related to existing product line of Soft Drink .

7. New 10-calorie version of the company's cola product that is targeted to male consumers. Revamped products as its came with different features & also would targeted to specifically but it would in existing market.

8.Diet soda product using a new type of artificial sweetener. Product Line Extension as it not a different from soft drink but they can be used as a kind of substitute so not taken under new product category & regareded as product line extension.

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