Accept nestle's standard new products quelch & hoff 1986
A classic!
The "Quelch & Hoff" article you're referring to is likely "The Role of Marketing Research in New Product Development" by John A. Quelch and David E. Hoff, published in the Journal of Marketing Research in 1986.
In this article, Quelch and Hoff presented a framework for evaluating the success of new products, which has since become a widely cited and influential work in the field of marketing. The framework consists of three key elements:
- Product: The product itself, including its features, benefits, and quality.
- Market: The target market, including its size, growth rate, and competitive structure.
- Quelch & Hoff's Standard: A set of criteria for evaluating the success of a new product, which includes:
a. Sales: The product's sales volume and growth rate. b. Profitability: The product's profitability, including its contribution margin and return on investment. c. Market share: The product's market share, including its share of the target market and its competitive position. d. Customer satisfaction: The product's ability to meet customer needs and expectations. e. Innovation: The product's level of innovation, including its uniqueness and differentiation.
By evaluating a new product against these criteria, marketers can gain a better understanding of its potential for success and make more informed decisions about its development and launch.
Nestle, as a leading food and beverage company, has likely used this framework to evaluate the success of its new products over the years.