New Product. Imagine that you are a new product development manager who has been tasked with bringing a new fictitious product to market. First, explain the new product development role within the hypothetical firm for which you work. Then, name the type of consumer product you will be developing and its product classification. Following that, describe how your hypothetical firm selected that particular product classification and explain an example of a new product development strategy that you might use for your fictitious product using Ansoff’s product-market matrix. Be sure to include your rationale by detailing both product and market. Finally, explain the role of brand management in the development of your new product.
Please feel free to use any outside sources you feel are needed to prove your points. If outside sources are used, be sure to properly cite and reference them using APA formatting. Your response must be at least 200 words in length.