Question: On a hot day, there's nothing more refreshing than a nice, cold cup of iced tea. But what about in the rainy season? How can
On a hot day, there's nothing more refreshing than a nice, cold cup of iced tea. But what about in the rainy season? How can a company like Nestea, which sells such summertime treats, increase its sales in the colder months and gain an edge over competitors like industry leader Lipton?
Nestea's usual approach of only using market trends to develop new products was not generating enough revenue. In addition, non-compete agreements from a joint venture between the parent company Coca-Cola and Nestle put further pressure on Nestea to stay away from soft drinks and hot beverages. Therefore, Nestea had to develop a new product that was unique in its field.
a) Read the above case and suggest measures to solve the problem at this particular stage of developing a new product (at least 4).
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
