Historically, your company has produced headphones and ear buds, but recently one of your engineers proposed an interesting idea: using the organization’s sound technology to create a device that will help cure insomnia. After looking at relevant research, you and your executive team all agree the idea has tremendous potential, but it will require an enormous investment to develop the new product. What could you do to minimize the risks involved with developing this idea and ensure success?
a.
Create a design that is both comfortable and attractive
b.
Collaborate with other relevant organizations in designing, developing, and testing the new product
c.
Prepare to invest heavily in the launch and subsequent advertising of the new product
d.
Avoid confusion among consumers by rebranding your organization to reflect the new, broader range of products