New Products and Innovation

Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding. 

Also, provide a graduate-level response to each of the following questions:

1. Consider the trends described in the chapter (e.g., aging, heightening environmental concern, or China). How will each affect the business you are in (or were in before coming to b-school)? 
   
2. Make a list of 3 of your favorite brands. What would be a great brand-, or line-extension that you would like to see developed as a new product? 
   

 Respond to the post of at least two peers, using 100 words minimum each.

[Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion].

 [Your initial post should be at least 450+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review]

This activity/assignment will help students understand the product life cycle concept better and also give them an insight into the importance of marketing decisions that are to be taken during the market decline phase.

Activity: Find four different products that are in the four different phases of the product life cycle. Give your opinions on the product in the market decline phase: whether the company should divest, harvest, or rejuvenate the product and the reasons behind your choices.