Question
Defining New This activity is important because marketers need to understand the concept of newness from the consumer's perspective to develop and market the best
Defining "New" This activity is important because marketers need to understand the concept of newness from the consumer's perspective to develop and market the best new products. As we consider the degree of new consumer learning needed, we can classify new products as minor innovations, continuous innovations, radical innovations. The goal of this exercise is to demonstrate your understanding of newness from the consumer's perspective as you identify appropriate marketing actions for the new products. Match each description to the appropriate new product classification. 1. Minor Innovation/Marketing Strategy 2. Radical Innovation/Marketing Strategy 3. Radical Innovation/Example 4. Continuous Innovation/Marketing Strategy 5. Minor Innovation/Example 6. Continuous Innovation/Example Pumpkin Spice Kit KatNestl introduces its latest flavor of Kit Kat, pumpkin spice, just in time for the fall season. People AdTo announce its new flavor, Nestl places a colorful full-page, fall-themed ad in People magazine to reach a broad audience. Power-Generating ShirtUnder Armor Inc. introduces a workout shirt that generates power as you wear it, allowing users to charge their phones from their shirts after a workout. Big BillboardUnder Armor highlights its shirt's power generating feature on its downtown billboard. Apple WatchApple rolls out its mobile payment and digital wallet service that allows consumers to leave their wallets at home and pay from their iPhones and Apple watches. Genius BarApple staffs its Genius Bar with knowledgeable staff to teach consumers how to use Apple Pay.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started