Case Study Week #1 Week-2 MKT 320
Case Study Review
After being in a market for X amount of years and being successful, other people will try to get in to get a piece of the pie. We have seen this over the years with numerous different products / services. One that I can think of off the top of my head was the evolution of online media. I remember as a kid when AIM “AOL Instant Messenger” was the coolest way to communicate with your friends and family. A couple years after that MySpace was introduced to the public and that went viral as well. Today we have numerous sites such as Twitter, Facebook, Myspace is actually still around as well, Instagram, and so on. The point that I’m making is eventually you will encounter competition and as time goes on ideas are constantly being used up! Mr. Roth was dealing with this in the sense that milk prices were deflating due to competition that was coming to his town. Because of this competition and the cost of dairy items plummeting, something had to be done to turn the company back to turning higher profits. The idea in focusing on a product that the other competitors are not was a genius idea. Everyone was I’m sure focused on milk and cheese being that those are two of the more popular dairy items that were focused on back in those days. By zoning in on a dairy product that was overseen by the competitors it gave Mr. Roth’s company the edge over the market. By simply changing the amount and look of their yogurt they would be able to turn a profit, as well as still promoting their name possibly leading to more sales of the company’s other products. I feel as though putting the package and size change in a test would be a critical stage in implementation of this new idea. As the article said, they did try testing in internally and I’m sure they are glad that they did. The original product had flaws that wouldn’t have been acceptable to customers and would put a bad name behind the company’s products. But that’s not the only reason why tests need to
After being in a market for X amount of years and being successful, other people will try to get in to get a piece of the pie. We have seen this over the years with numerous different products / services. One that I can think of off the top of my head was the evolution of online media. I remember as a kid when AIM “AOL Instant Messenger” was the coolest way to communicate with your friends and family. A couple years after that MySpace was introduced to the public and that went viral as well. Today we have numerous sites such as Twitter, Facebook, Myspace is actually still around as well, Instagram, and so on. The point that I’m making is eventually you will encounter competition and as time goes on ideas are constantly being used up! Mr. Roth was dealing with this in the sense that milk prices were deflating due to competition that was coming to his town. Because of this competition and the cost of dairy items plummeting, something had to be done to turn the company back to turning higher profits. The idea in focusing on a product that the other competitors are not was a genius idea. Everyone was I’m sure focused on milk and cheese being that those are two of the more popular dairy items that were focused on back in those days. By zoning in on a dairy product that was overseen by the competitors it gave Mr. Roth’s company the edge over the market. By simply changing the amount and look of their yogurt they would be able to turn a profit, as well as still promoting their name possibly leading to more sales of the company’s other products. I feel as though putting the package and size change in a test would be a critical stage in implementation of this new idea. As the article said, they did try testing in internally and I’m sure they are glad that they did. The original product had flaws that wouldn’t have been acceptable to customers and would put a bad name behind the company’s products. But that’s not the only reason why tests need to
References: Measuring Product Success or Failure. (n.d.). Retrieved March 14, 2015, from http://www.blackblot.com/kb/product-management/measuring-product-success-failure/