... any successful new product; its goal is to become the second firm to embrace the innovation. In using this so called fast-second strategy, the dominant firm count on its own product- improvement abilities, marketing prowess, or economies of scale to prevail. Example: Royal Crown introduced the first diet cola, but Diet Coke and Diet Pepsi dominate diet-cola sales today. PATENTS ... Imitation and the fast-second strategy raise an important question: What incentive is there for any firm to bear the expenses and risks of innovation if competitors can imitate its new or improved products .....

• Word Count: 5057
• Approx Pages: 20
• Has Bibliography
• Grade Level: Undergraduate

... to test the company's advertising. The research showed that the advertising was reaching the right people with the right message the management was puzzled. It turned out that the real problem was that the store was not delivering the prices, products and service promised in the advertising. The problem was wrongly diagnosed. The now famous Coca-Cola fiasco where the company decided on market research to drop traditional Coke in favour of New Coke, with ... disastrous results, clearly demonstrates the problem of identifying the real problem and defining the research objectives. Setting ...

• Word Count: 2825
• Approx Pages: 11
• Grade Level: Undergraduate