AJAX FOODS PROJECT
In this final project paper, I am going to compile all of the topics that we have been discussing and deliberating on all this term. Moreover, I am going discuss and evaluates the Ajax Foods scenario and in module One content by Putting myself into the shoes of the CEO for Ajax Foods. What is the most important question you need to have answered before you spend thousands of dollars on the launch of a new product? In an arena that is as competitive as the food industry today, most companies are always looking for ways to add new revenue streams and limit product attrition. Therefore, launching a new product can assist a company in gaining access to new markets that might have previously been unapproachable. Therefore, for me, as the CEO of Ajax foods, before adding a new product line there are several factors that need to be considered:
• Profit Potential
One of the most important factors of any new product launch is the potential to impact bottom-line revenue. In most cases, the product itself may not create a large increase in revenue but may open doors to new revenue possibilities. Therefore, a product that open new doors and creates significant ongoing revenue is a winner every time. So! As a CEO of Ajax foods, therefore, a common sense question to ask would be, what is the potential revenue this new product will create?
• Market size
When it comes to market size, one can have the best product in the World but if the potential customer base is not large enough, sales target cannot be reached. Therefore, as a CEO of Ajax foods, before launching this new product and investing thousands of dollars into this product, one would ask some basics questions such as: who will buy this product? Can sell this product to my customer base? Where can I locate this type of customer? What is the market potential? What does my prospect want from this product? Why should they buy from me? When do I begin launching this product?
As a CEO, I believe that it’s
• Profit Potential
One of the most important factors of any new product launch is the potential to impact bottom-line revenue. In most cases, the product itself may not create a large increase in revenue but may open doors to new revenue possibilities. Therefore, a product that open new doors and creates significant ongoing revenue is a winner every time. So! As a CEO of Ajax foods, therefore, a common sense question to ask would be, what is the potential revenue this new product will create?
• Market size
When it comes to market size, one can have the best product in the World but if the potential customer base is not large enough, sales target cannot be reached. Therefore, as a CEO of Ajax foods, before launching this new product and investing thousands of dollars into this product, one would ask some basics questions such as: who will buy this product? Can sell this product to my customer base? Where can I locate this type of customer? What is the market potential? What does my prospect want from this product? Why should they buy from me? When do I begin launching this product?
As a CEO, I believe that it’s