Question: For this week's assignment, you will identify the key characteristics of consumer behavior. You will also discuss and explain how customer satisfaction influences customer loyalty

For this week's assignment, you will identify the key characteristics of consumer behavior. You will also discuss and explain how customer satisfaction influences customer loyalty and analyze product development strategies.

Prompt:

Review Lesson 5 and Chapter 10: Product Design and Development of Exploring Business. As part of the well-written paper (350-700 words, but no more than 1000), address the product development categories noted in the Exercise below. Adhere to APA 7th ed. formatting and include sources and citations where appropriate and a reference list at the end of your essay.

Detailed Analysis - Exercise from 10.1 What is a Product in your textbook Exploring Business

Identify a good and/or service for each of the following product development categories:

New-to-the-Market

New-to-the-Company

Improvement of the Existing Product(s) and/or Service(s)

Extension of the Product Line

Find products and services you might visit at the grocery store or a mall (or think about products you use). Don't use the 'Just Born' examples in the chapter readings.

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