A fast-food chain wanted to add a new product to its breakfast menu. The company considered a pancake shaped like a muffin. The problem was determining how a customer would add syrup to the pancake while eating and driving. Fortunately, one of the company's suppliers developed a crystallized syrup that seeps through the pancake once it is heated. Explain the phase of new-product development that occurred during this process with the chain and its supplier

Question

Business

Theodore Mcdaniel

28 August, 08:29

A fast-food chain wanted to add a new product to its breakfast menu. The company considered a pancake shaped like a muffin. The problem was determining how a customer would add syrup to the pancake while eating and driving. Fortunately, one of the company's suppliers developed a crystallized syrup that seeps through the pancake once it is heated. Explain the phase of new-product development that occurred during this process with the chain and its supplier

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Answers (1)

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Peter Durham · Answer 1

Concept Development

Explanation:

The stages which a product cycles through during its lifespan are:

1. Concept Development,

2. Introduction,

3. Growth,

4. Maturity and

5. Decline.

The Product Concept Development stage is the first part of the Product Life Cycle which involves developing the product concept, building the product and testing the product.