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In your own words, differentiate consumer products and industrial products. Which of the two products is more likely hard to market?
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- Illustrate the key characteristic distinguishing business products from consumer products?Explain the elements that make your product and distinct from similar products of the competitors.Select a product you are familiar with. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life cycle? How will this affect the marketing of your selected product?
- Select a product you are familiar with. Do research about that product. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life cycle? How will this affect the marketing of your selected product?Select a product with which you are familiar (Please do not use any APPLE products). Based on your knowledge of the product lifecycle, what types of changes will occur to your selected product? How will this affect the marketing of your selected product?What for people buy product ?what are customers looking for? Visually show your means of improving perceived value or utility of products?
- Select 4 products in various stages of the product life cycle. Note what stage of the life cycle that they are in and why you believe that they are in this stage. What are some marketing strategies that could be used to extend the product life cycle for that product or category?Design your product and provide it a name and a description and visual/picture of it (this can be your own drawing or an image from the internet with your brand/logo assigned to the image). Justify your choice by explaining in detail the reasons why you select your product (i.e. is there a demand for it? will it solve any social, environmental or financial issues? etc.). What is your vision for the selected productWhat role does market basket analysis play in understanding product affinities and optimizing product offerings?