Fill in the Blanks 1SP_MP09_UF3_NF1_PRODUCTOnline version 1SP_MP09_UF3_NF1_PRODUCT_DEVELOPMENT by GEMMA CLAVEROL FREIXA 1 strengthen competitors'actions profits research investment outcome loyalty outcomes develop competitive maintain return brands share targeted position In a rapidly changing and business environment , it is not easy to predict : ? future trends in consumer tastes and preferences ? ? market conditions . Creating new products or making changes to existing can be expensive . It involves making investment decisions now , in the hope of making a return later . Weighing up future returns against an is a crucial part of a manager's job . It always involves an element of risk , because the future is never certain . Managers' previous experience , together with market information helps them to predict future events and . However , all business activities involve some element of risk . There is often said to be a link between risk and . The more you risk , the higher the likely returns ( or ) . However , a balance must be struck . It follows from this that decisions about a brand , ( e . g . whether to develop it , it , allow it to decline , or even kill it off ) involve much discussion . In deciding to a brand , managers have to decide how much investment to make and to forecast the likelihood of a successful . Brand managers aim to develop a long - term strategy to meet a range of objectives such as : ? growing market ? developing a unique market ? creating consumer or brand ? generating a level of profit . This case study describes a major investment in Kellogg's Special K . It illustrates how the company's investment in new product development served to a global brand .
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