Your family's business has two ideas for new cooler products:
one is a super-rugged, well-insulated cooler that can keep food and drink cool in any weather and in any situation, from campgrounds to fishing boats and beyond.
a second is a small, lightweight cooler with room for a sandwich, drink, and dessert, and decorated with licensed cartoon characters, for children to use for school lunches, picnics, school trips, and so on. this is where you need to know more about new-product development.
you're in the first phase of new-product development, idea generation. the last phase, commercialization, is where you actually put the product onto the market. what happens in between? choose the option from the drop-down menu that would best complete each passage:
1. during the phase, you could ask consumers to react to written descriptions of each product.
2. examining the sales potential, estimated costs, and profitability of the new product occurs during the phase.
3. during the you may look at consumer needs, environmental trends, and the resources your family's business has to develop and introduce those products.
4. trying the new product with different marketing mixes to gauge customer reaction occurs during the phase.
5. creating a prototype and assessing the practicality of the product occurs during the phase.