Foundations of Marketing 5th Edition by Ferrell,William Pride

Exercise 15

Identifying the needs of consumer groups and developing products that satisfy those needs is essential when creating a marketing strategy. Successful product development begins with a clear understanding of fundamental product concepts. The product concept is the basis on which many of the marketing plan decisions are made. When relating the information in this chapter to the development of your marketing plan, consider the following:
Discuss the factors that could contribute to the failure of your product. How will you define product failure