Question: 1)Jack works for a polymer firm that has developed a new insulation material that has the potential to make newly constructed homes more energy efficient.

1)Jack works for a polymer firm that has developed a new insulation material that has the potential to make newly constructed homes more energy efficient. He is asked to develop a “voice of the customer” analysis. a)Describe how many interviews he ought to plan for, whom he should interview, and in what sequence. b)Jack’s colleague suggests he talk to the company’s salespeople to get insights more quickly than doing a VOC analysis. State whether you agree or disagree and why.c)Suppose the new product can reduce a typical home’s energy bill by 15% per year (and take the typical annual energy bill for a home as $2500). It is expected that 1000 sq ft of this product would suffice for installation in a single home. It is further expected that builders can charge a $1000 premium on the home price if this material is used due to its brand value. Suppose the competing product currently being used is priced at $0.20 per square foot. What is the value-in-use for this new product per square foot (i.e., the theoretical maximum price that the firm can charge)?d)When interviewing customers, one could ask them directly what new products they need. State two downsides of asking such a question.e)[2 pts] Suppose that the cost to manufacture the new product is $0.14 per square foot. State a price that you would suggest to Jack for this new polymer material, and explain why (use the information from part c).