Question

What is a new product and how do consumers go about deciding whether to adopt a...

What is a new product and how do consumers go about deciding whether to adopt a new product? Also describe how marketers attempt to use opinion leaders to help to sell their products?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

New product means a product which never been introduced into the market by the company and which will be having up different character and specification in regards to its predecessor.

consumers will be deciding whether to adopt to a new product by looking into their needs and the the ability to buy the new products along with the suitability of the new product into their overall lifestyle.

Viability and uniqueness of new product is very important in order to attract the potential group of consumer for adaptation into the new group of product.

Marketers attempt to use opinion leaders to help to sell the products as it will help the company in order to gather an idea about the consumer expectation and the pricing strategies which will be adopted in order to sell the new product

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Imagine your company is deciding whether they should sell a new product, but you first need...
Imagine your company is deciding whether they should sell a new product, but you first need to make sure that the public will be interested in it. You decide that you will release it nationwide if 35% of the people “like it enough to buy it.” You conduct a random sample of 400 consumers and discover that just 112 respondents said they liked it enough to buy it. Testing at the 95% significance level, can you conclude whether you should...
In regards to deciding whether a product line or business segment should be added or dropped,...
In regards to deciding whether a product line or business segment should be added or dropped, which of the following is correct? a) A product or segment whose revenue do not cover its variable and traceable fixed costs should usually be dropped. b) Fixed costs are irrelevant in decisions about whether a product or segment should be dropped. c) A product or segment should be charged for rent in proportion to the space it occupies even if the space has...
How do managers go about making segment product line elimination decisions?
How do managers go about making segment product line elimination decisions?
How do the crabs know where to go? (think about navigation and whether components might be...
How do the crabs know where to go? (think about navigation and whether components might be learned or inherited).
When consumers make a purchase, they progress through a series of behaviors. The consumer decision-making process...
When consumers make a purchase, they progress through a series of behaviors. The consumer decision-making process describes those behaviors and the activities that take place at each stage. In order to increase sales, marketers are looking at the five stages and trying to find ways to influence the consumer as they progress through the CDM process. Select one company below and respond to the questions. The Internet is the most recent tool that marketers are using to influence consumers. Discuss...
What is a product and what is a service? How do we find and develop new...
What is a product and what is a service? How do we find and develop new products and brand them? And, what is the product life cycle and why is it so important to a marketer?
What is a sample?  How do yo go about selecting one?
What is a sample?  How do yo go about selecting one?
26) Suppose we are deciding whether a new treatment is effective in reducing the duration (in...
26) Suppose we are deciding whether a new treatment is effective in reducing the duration (in days) of symptoms from influenze using the hypotheses: H 0 : μ = 6.4    vs.    H a : μ < 6.4. Suppose we calculate our P-value to be P = 0.0326. What do we conclude about the new treatment at significance level α = 0.02? A) The data suggest that the new treatment is dangerous to patients. B) The data suggest that the new treatment is...
A risk-neutral consumer is deciding whether to purchase a homogeneous product from one of two firms....
A risk-neutral consumer is deciding whether to purchase a homogeneous product from one of two firms. One firm produces an unreliable product and the other a reliable product. At the time of the sale, the consumer is unable to distinguish between the two firms’ products. From the consumer’s perspective, there is an equal chance that a given firm’s product is reliable or unreliable. The maximum amount this consumer will pay for an unreliable product is $0, while she will pay...
Provide specific implications for Marketing – explain exactly how a marketer of any product can reach...
Provide specific implications for Marketing – explain exactly how a marketer of any product can reach you – should address fact that marketers of different product categories can reach you in different ways– So describe how what you have discovered about yourself could be used by marketing analysts and strategists. Be specific – what type of media, type of unique message, endorsers…or whatever else you have learned gets your attention, should marketers use to reach you. How do you evaluate...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT