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Many forecasting methodologies used in the new product development process are superficial techniques that either fail to incorporate the voice of the consumer or only touch on superficial consumer attitudes while completely ignoring the affectively laden hedonic aspects of consumption. This chapter demonstrates how a relatively new qualitative methodology, the Zaltman Metaphor Elicitation Technique (ZMET), can provide managers with insight into the critical psychosocial and emotional landscape which frames how consumers react to a new offering. These insights can be leveraged at any stage of the new product development process to forecast and fine-tune deep consumer resonance with a product offering.

Much of the literature on theories of decision making under risk has emphasized differences between theories. One enduring theme has been the attempt to develop a distinction between “normative” and “descriptive” theories of choice. Bernoulli (1738) introduced log utility because expected value theory was alleged to have descriptively incorrect predictions for behavior in St. Petersburg games. Much later, Kahneman and Tversky (1979) introduced prospect theory because of the alleged descriptive failure of expected utility (EU) theory (von Neumann & Morgenstern, 1947).

Demonstrates the advantages over other red meats of farmed venison as a lean healthy meat produced to quality standards with exceptional animal welfare. Traces the growth of the farmed venison industry over the last 20 years and describes some of the marketing and legislative problems (EC directives) which have beset this new industry. Draws comparisons with wild game venison and concludes that current emphasis on healthy eating and the need for retailers to heed the due diligence legislation will encourage long‐term growth in the market for farmed venison.