Product Development


What is the most important thing to consider in new product development for a small business? Explain why. Is it necessary to evaluate the new product idea at each stage of the development process? Explain why or why not.

You know many of the products that I have bought over the years do not keep up with the standards of products that have been around for years. In a small business you have to make sure that the product is safe for the consumer. If the product does not meet the customer’s standards they will not endorse the product to anyone else but more than likely will give you a bad review on the product. Larger companies do not really worry about whether or not a product will pass or fail. When a company is considering developing a new product it must be sure that the product is “highly desirable, feasible, and cost-effective” (Kotler and Keller 2009). The product must catch the eye of the consumer in order for them to purchase the item. Many of the products that small businesses are coming out with now are feasible and consumer’s will purchase them. Look at the different types of cell phones and how many people purchase this product. It is feasible to the consumer and they are willing to take the risk on purchasing the product. The products must be cost effective in order for the business to make any money off of it. If customer’s are interested and it is marketed right the consumer’s will fly into the store to get that product.

Social Responsibility


What role does social responsibility play in the development of a new product or service? What types of ethical questions must you consider when introducing a new product or service?

Social responsibility plays a very important role in the development of a product or new service within a company or business mainly because it focuses around the better part of the aspects of the business. Within the marketing business the social responsibility by increasing the customer expectations, having a tighter government, the legislation and pressure of marketing within the business, or evolving employee goals and ambitions within the company. When a business introduces a new product or service it must be done carefully to avoid the detriment to society and protect the rights of everyone that is involved with the planning and implementation of the product or service. Ethics also plays a role when introducing a new product or service for a business and also includes the consumer as well. Employee’s should be held responsible for any unethical behavior towards other employee’s or customer’s as well. Many times people do not stop and think about what they are saying or talking about in front of the customer. They do not think about the consequences of their actions or words. I have seen and heard it all being a server and let me say this that people are not shy about talking about their lives and what they do.