Pricing Scenario. Consider a scenario where one of your suppliers has increased their price (and hence your cost) on the components that your firm buys. Further assume that you have contractual agreement, and your firm is not in a position to change suppliers at this time and your internal costs will be very high to change processes required to switch to another supplier. Also, assume that you are not able to pass this increase to your customers. How would you respond to this situation? (15 Points)

You are the marketing director for a financial services firm with assets of $105 billion and net income of $1.7 billion. Your company’s senior management team has identified new product development as a growth strategy. You have been selected to lead the new product development initiatives. Describe how you will present the information about the stage-gate process to manage the new product development programs. Provide an overview of the stage-gate process, benefits, and potential challenges in implementation. (15 Points)