Read Chapter 2 of White, S. (2019). Principles of marketing (2nd ed.).Investigate and document the story of a famous new product flop (and market research failure) and how you went back in time to fix it. This part will be done in 350 words.Identify and research a prominent new product/service failure.The press loves failures, so you won’t have any problem finding examples.Identify the following: product/service name, the company who marketed it, the year it was introduced and where (particularly if not in the U.S.).Answer the following questions about the market research process. Refer to Section 2.3 in the text.What are the steps in a market research process? Provide each step relating it to your product as possible.Where was the failure in your product’s market research process? Which step was missing, not followed correctly, misinterpreted, or misrepresented?What is the market research finding that you’re going to go back in time and share with management to stop this introduction?Answer these questions in at least 100 words each.How was the market research failure of the McDonald’s “Szechuan Sauce Promotion” similar or different than the one you chose?*I will provide the other question to answer later on today when I get near my work assignment*
