The General Confectionery Company's product development team have designed a new confectionery product. This product is quite different from those generally sold by the General Confectionery Company. They have conducted suitable market research to identify their target market: 5 to 8-year-old children. This means that the product needs to appeal to both the children and their parents.
The company does not have the capacity to add this product to their product line without removing at least one of their other products. They will need to conduct a product analysis to identify which product/s should be removed from the list.
Even though this will be only one of a number of products sold by the company, it is necessary to analyse the risk involved in making the decision to go ahead with the new product. What risks will be faced and how might these risks be controlled? (150-200 words)