Question

A pet products company is developing a dog feeding system that senses when a dog is hungry and dispenses food into its bowl. This product is marketed toward owners with long, unpredictable workdays who want their pet to remain on a regular eating schedule. The company has the complementary assets necessary to fully develop the product. There are also high barriers to imitating the innovation and a very limited number of competitors. Based on this information, the company should:

Answer 1

Develop and market the product alone.

Step-by-step explanation:

Marketing can simply be said to be an the activity, institution set and also ways of creating, communicating, delivering, and exchanging offerings that customers importantly needs, partners, and society at large. Product, place, price, and promotion are used to meet the needs and wants of the final consumer. Developing and marketing the product alone involves creating the product and finding different ways/means to get the consumer aware of the product and ensuring the consumer accept and buys the product but it needs a lot of planning. Succeeding in developing and marketing the product will bring about a lot of profit and recognition for the company.