EP MARKETING:REAL PEOPLE...MYMKTG.ACC.
10th Edition
ISBN: 9780135209912
Author: Solomon
Publisher: PEARSON CO
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Chapter 8, Problem 5QA
Summary Introduction
To define: The new product and the understanding of the importance of new product with some types of innovations
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Why is Product Invention important for the marketers?
In this unit, we look at how innovations are commercialized, progressing through a common Product Life Cycle. What are each stages of the Product Life Cycle? What are the dominant characteristics of each stage?
What characteristics of a new product affect its rate of adoption? How will each factor influence the rate of adoption of electric automobiles?
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EP MARKETING:REAL PEOPLE...MYMKTG.ACC.
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- What product factors affect the rate of adoption of innovations?arrow_forwardPlease tell me how marketers screen ideas to find appropriate product ideas during product development. What does it mean that a product is a good “fit” for a company?arrow_forwardWhat are the various categories of innovations?How do they differ?arrow_forward
- What is Product invention?arrow_forwardAre new technological devices or products designed for younger adults or older adults? What features of these items support your point of view? What changes could you make to make this product more suitable for older adults? Please respond to the above questions in more than 5 sentences.arrow_forwardWill the new product cannibalize sales of existing products or will it increase revenues by reaching new market segments?arrow_forward
- What is a touchpoint?arrow_forwardChoose a consumer product with which you are familiar and explain its branding strategy. What is the brand’s personality? What does the company do to differentiate the brand in its market? Explain if the brand has been or could be expanded.arrow_forwardWhy is a marketer experience important in taking decisions about the product portfolio despite having tools that can help him?arrow_forward
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