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Discussion 3: Managing Products View Topic View Topic in Reading View Subscribe Must post first. One source of new-product ideas is competitors. Steven Fischer recently joined Frankie and Alex...

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Discussion 3: Managing Products

Must post first.

One source of new-product ideas is competitors. Steven Fischer recently joined Frankie and Alex Specialty Products as a brand manager. His new boss told him, “We don’t have a budget for new-product development. We just monitor our competitors’ new-product introductions and offer knockoffs of any that look like they will be successful.” Is this practice ethical? Does the AMA Statement of Ethics address this issue? Go to the American Marketing Association’s website

and review the statement. Then discuss what the AMA Statement of Ethics contains that relates to knock-off products

Answered Same Day Oct 29, 2019

Solution

David answered on Nov 30 2019
143 Votes
The statement is true that the new product ideas can be generated through competitors. This case discusses of Steven Fischer joining a new company as a
and manager. His company is low in budget so they observe their competitors products. Yes, this practice is ethical in nature. They are just monitoring their competitors in making new products. This will help them in putting fewer investments and avoid the mistakes which their competitors have put in. Hence, the cost involved in new product...
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