Question 1: Your company is considering the development and launch of a product competitive to the ready-made Rice Krispy Treats. You are the Chief Marketing Officer and must evaluate this opportunity and launch the product if there is an opportunity.

What are the primary considerations in making the decision to develop this product?

Assuming the development of the product has been approved, what is the process you would recommend for product development to ensure a product that will be successful in the marketplace? In other words, what are the best practices for product development for this product?

Now assume the product is launched, what does your department need to do to promote the success of the product throughout the entire product life-cycle?

This what need to be taking as a guideline to answer this question: Did you consider the external and the internal environments (market, financial, and strategic risks)? Did you consider an audit of the internal resources and capabilities? What is the opportunity cost of developing this product? What are tyhe considerations for developing the product and what is needed to ensure success after the launch? Did you also consider the ROI, testing at each step of the development process and the need for a differentiator (competitive advantage)? Post-launch did you also consider metric gaps, monitoring changing market needs, and tracking the competitive landscape?

Question 1: Your company is considering the development and launch of a product competitive to the ready-made Rice Krispy Treats. You are the Chief Marketing Officer and must evaluate this opportunity and launch the product if there is an opportunity. What are the primary considerations in making the decision to develop this product? Assuming the development of the product has been approved, what is the process you would recommend for product development to ensure a product that will be successful in the marketplace? In other words, what are the best practices for product development for this product? Now assume the product is launched, what does your department need to do to promote the success of the product throughout the entire product life-cycle? This what need to be taking as a guideline to answer this question: Did you consider the external and the internal environments (market, financial, and strategic risks)? Did you consider an audit of the internal resources and capabilities? What is the opportunity cost of developing this product? What are tyhe considerations for developing the product and what is needed to ensure success after the launch? Did you also consider the ROI, testing at each step of the development process and the need for a differentiator (competitive advantage)? Post-launch did you also consider metric gaps, monitoring changing market needs, and tracking the competitive landscape