I need help with a Marketing question. All explanations and answers will be used to help me learn.
1.) List the current product lines for your Aldi. Think of at least one idea each (see below) for new products that the company could add to its product offerings (note that these are two different types of new products)
- Product line extension
- New product line.
Explain how the new products fit within the existing product mix, and also why you think they would be successful.
2.) Jack Welch famously said* “Shun the incremental; go for the quantum leap”; the quantum leap being what is commonly referred to as “radical” innovation.
Which option do you think is better for a company today — radical (discontinuous) or incremental (continuous) innovation? Explain your answer and illustrate with real-life examples. FYI, there are no “absolute” right or wrong answers, but you need to justify your answer.