MARKET 1 Lecture Notes - Lecture 17: Sodium Bicarbonate, Discover Card, Kevlar
Document Summary
Without question the most important thing to marketing and business. You have a time period to reap big profits before other competitors match your product offering. Brother"s wife"s sister is married to the ceo of s. c. johnson- took over the family business. Made more money on the first glade plug in product during the first year than any other product. So new product development is the key to profitability. That"s where most companies make their biggest profit. Substantive capacity to change people"s lives-hopefully for the better. Strategic importance . sometimes it"s necessary to even survive. Can be extremely impactful on our lives. If we only consider these: the failure rates are huge- rewards are great too. Red bull energy drink, in-line skates, kevlar, word-processing software. Hewlett-packard pcs (new category entry), hallmark gift items, Crest comes out with a flanker, crest with baking soda. Kind of like when you see a restaurant that"s under new ownership.
