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1Explain how value is derived through different product layers. 2 Describe how marketers classify products. 3 Understand the importance and types of product innovations. 4

1Explain how value is derived through different product layers.

2 Describe how marketers classify products.

3 Understand the importance and types of product innovations.

4 Show how firms develop new products.

5 Explain the process of product adoption and the diffusion of new innovations.

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