Podcast Beta
Questions and Answers
What was the name of the relaunched product?
Which company launched the New Coke product?
What was the reason for the failure of the New Coke product?
What is the correlation between the Nokia 3310 and New Coke products?
Signup and view all the answers
What is the key takeaway from the Nokia 3310 and New Coke products?
Signup and view all the answers
Study Notes
Market Research Techniques for Nokia 3310/New Coke
- Both Nokia 3310 and New Coke are examples of failed product launches, highlighting the importance of market research in product development.
- Nokia 3310 was a revamped version of the classic 3310 model, but it failed to impress customers due to its outdated features and high price.
- New Coke, on the other hand, was a reformulated version of the original Coca-Cola, but it received widespread criticism and was eventually discontinued.
Recommended Market Research Techniques
- Surveys and Focus Groups: To understand customer preferences and opinions, surveys and focus groups could have been used to gather feedback on the product features and pricing.
- Competitor Analysis: Analyzing competitors' products and strategies could have helped identify gaps in the market and opportunities for differentiation.
- Product Testing: Conducting product testing with a small group of customers could have revealed issues with the product's features and user experience.
- Customer Panels: Establishing a customer panel could have provided ongoing feedback and insights throughout the product development process.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
This quiz assesses knowledge of market research techniques for successful product launches, using examples like Nokia 3310 and New Coke. Identify the best techniques for product success.
