Midterm Test

New Product Development Management

Wed, 11/11/2020

1. The success of a new product typically requires considerable resources and the
likelihood for lackluster results or outright failure are far higher than anyone will admit.
Because of this high risk of failure, it is important to know why product development is
important to companies and consumers and why you should consult to the product
development experts to make sure you get things right. Explain Phases in New Product
Development and in which step in the product development process does a product
launch take place?

2. The more development progress made in the new product initiative, the higher the
costs required to finance the product development process. Explain this statement using
a graph. Then the elaboration the statement by relating it to any costs that arise during
progress.

3. Many cases have occurred regarding the dangers of food that have already been
launched into the market but are not safe. For example in Great Britain, in 1997, more
British people were suffering from food poisoning (Coghlan, 1998). Then the United
States Department of Agriculture in April 1999 ordered the recall of meat products
including hot dogs, lunch meats, and various sausages made by an Arkansas company,
these products declared unfit for human consumption. The impact is a decline in the
company's image and financial losses to the company. Observing this phenomenon
what exactly is the duties and responsibilities of the legal department in a food
company?

Good luck!!!