Assignment Task: This is a case about Product Innovation and Development, so use your text material on this topic as a benchmark for your responses. Remember that this case is not about advertising or promotion. Your responses should reflect topics on Product Innovation and Development.
Think about where the sources of new products and innovations come from over the years. Sometimes they are influenced by new technology, changes in society health issues, or simply a new twist on an old idea. Consider how many competitors are already in the market and how you could differentiate your new product to meet a market need.
What are your thoughts about new product development at Nature on Tap? Note their challenge in harvesting their source of supply to make this new product. How will it convince customers that their new products belong in their refrigerators? What factors are important in understanding Nature on Tap's position in the marketplace and efforts to expand its product mix and lines?
After you have read through the entire case study, post your responses to each of the questions below. For your answer to the third question, you should include a full discussion of at least two possible alternatives. For your response to the fourth and fifth question, respond as those you are the marketing manager of this company. Each of your responses should be supported with a full paragraph and relate to the concepts in this module which include product innovation and development. This is not a case about promotion, social media, advertising, or pricing.
Q1. What is the decision facing Nature on Tap?
Q2. What factors are important in understanding this decision situation?
Q3. What are the possible alternatives? Fully describe at least two. Consider new products and innovations that this company might pursue. How can continue to maintain their market share?
Q4. Pretend you are the marketing manager at Nature on Tap. What decision(s) do you recommend?
Q5. What are some ways to implement your recommendation?