Q1) Define a new product. Explain the different types of new products.      Explain the procedure of new product development.
a) Which is the most important step?
b) Which step can be ignored?

Q2) Why is the first step (problem recognition) in the consumer purchase decision process, probably the most important?

Q3) If you were a healthcare provider who recently acquired the technology to genetically assess people for future diseases, how would you determine to what target market (s) to offer this product or service?

Q4) Market segmentation involves aggregating prospective buyers into groups that have two key characteristics. What are they?  Why are these important?
Q5 What variables might be used to segment these consumer markets? (a) Lawnmowers (b) frozen dinners (c) breakfast cereals and (d) soft drinks.
What will you do if you were to market the same to Industrial consumers?

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