Question: I need the help!! After reading Chapter 8 Product I: Innovation and New Product Development, provide written answers to the following: Describe and explain the
I need the help!!
After reading Chapter 8 Product I: Innovation and New Product Development, provide written answers to the following:
- Describe and explain the following statement: "A product is a bundle of attributes." Pick a product, describe its three layers, then explain how each layer creates value for the customer and the benefits it supplies/provides.
- Explain the difference between durable and nondurable goods, and give an example of each. Pick a type of convenience product and give an example. Explain impulse products, give an example, and identify two challenges marketers may have regarding impulse products.
- Marketers classify innovations into three categories based on their degree of newness. Explain these categories, identifying the role the consumer has in each.
- What are the phases involved in the development of a new product? What must marketers do during the marketing strategy development phase of the new product-development process?
- Microsoft launched a massive $500 million marketing campaign when it introduced the Xbox, promoting the new product through in-store merchandising, retailer incentives, events, and sponsorships, in addition to traditional advertising. What stage of the consumers' adoption of a new product was Microsoft most trying to influence? Support your answer.
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