Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Committee Essentials

Authors: Curtis C. Verschoor

1st Edition

0471699594, 978-0471699590

More Books

Students also viewed these Accounting questions

Question

8. What is to be investigated?

Answered: 1 week ago

Question

Define the goals of persuasive speaking

Answered: 1 week ago