This question is under new product development

Case study: Novelty Creations Howard Boothroyd, the CEO of Novelty Creations, markets a range of novelty lifestyle products using a direct mail brochure and the internet. Products marketed include a raitwear range for dogs and cats, and an automatic odour protection device for bathrooms. The company is always looking for new product ideas and even can buy a whole company, a patent, or acquire license to produce someone else's product. Novelty Creations, just withdrawn after three months their new product fromtheir brochure and website, an extended toenail clipper whereby a person could clip their toenails without having to bend down Not all new products succeed, but Boothroyd's problem is that this is the tenth recent new product failure and the CEO is worried that the company is losing direction New product ideas come from an in-house team consisting of Boothroyd and two other directors. All are from technical backgrounds. Customers are mot consulted. Idea generation sessions take place on the last Friday of every month and usually result in about ten new ideas being put forward and discussed among staff. As the major shareholder of the company, Boothroyd takes it upon himself to select which, if any, of these ideas should be taken further with a view to including them in the product portfolio and the price strategies to be adopted. He uses his ownjudgement inthis screening process as he feels that the growth of the company is down to his 'feel' for the market. Advise Boothroyd on what is wrong and how to improve on the company's new product development procedures. Source: The Wall Street Journal Answer the following: Under the case study 1 a Using the new product development process, explain to Boothroyd, how the company might be successful inits future new products development. (14 marks)