Case Study Scenarios: New Product

New Product: Existing company has come up with a brand new product i.e. Philosophy’s new line of anti aging skin care that is PROVEN to remove wrinkles.
o What’s the big deal about the product?

• Is it special? Why is it special?
• Is there anything like it out there?
• Does it make sense for Philosophy (which goes for naturalness for your skin) to make this new product? Does it FIT with the company?
• Are there any disadvantages to this product? Maybe, side effects?

o How will this affect Philosophy’s market strategy?

• Will it take away from existing products?
• What effect will this new product have on our customer base? If its gonna grow it, how and why?
• How will competing skin care brands react?
• Are there competitors already making this product and if so, how much of the market have they dominated?

o Who are the customer of the new product?

• Best way to reach them (internet, etc)
• Best way to KEEP them

o Financing:

• How is it being funded?
• Can company afford it? What will happen if circumstances make it more difficult to pay off the debt.