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
.
