Give an example of a new product or service that is targeted at the college student market. Discuss whether it is a new-to-the-world product or other type of new product, and how technology push and market pull research activities may play an important role in development of this new product.

Give an example of a new product or service that is targeted at the college student market. Discuss whether it is a new-to-the-world product or other type of new product, and how technology push and market pull research activities may play an important role in development of this new product.

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter6: Target Markets: Segmentation And Evaluation

Section: Chapter Questions

Problem 2DYMP

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Concept explainers

Product and Service Classification

Classification of goods and services categorized between industry and customer goods is known as Product and Service classification. It is based on brands, quality, and quantity which companies deliver to the concerned client. Industrial goods are produced for industrial work, whereas consumer goods are produced for personal consumption by the customers. Marketing and sales need technological methods, a healthy environment, proper market strategies, marketing environment in terms of productivity and profit.

Question

Research activities performed to discover the the needs and preferences of consumers and potential consumers. It examines target markets, target audiences, consumer interests, customer feedback, market environment, competitors' positions, etc.. Market research also includes the techniques to develop, launch, and make successful products and services in the market .

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