As we continue to explore product decisions, so please keep up with the reading. We have finished most of Chapter 7, and will return for Services later. On Monday, we will move on to New Product development and the Product Life Cycle (Chapter 8), so try to find evidence of a new product (preferably introduced within the last year) to share with the class. Your evidence can take the form of the product itself, or a print ad, or the home page of the product website, or a photo or description of something you saw (or purchased). It can be a new kind of product (innovation), or just a new version, modification, or new brand of an existing product. If you have trouble finding a new product, ask around (great conversation starter).
Option A: Product Analysis: Find a current print ad (or TV commercial with URL) for a TANGIBLE CONSUMER GOOD. It can be the new product you found, or any other product that catches your eye. Please don’t use an example from the text or one already discussed in class. Answer the following questions and attach them to a copy of the ad.
1) What is your product? Briefly describe it, including brand name, model, features, and/or packaging.
2) Who is the target market for your product? And how is the product positioned–i.e., how is it meant to be perceived by the consumer, especially as differentiated from the competition? This applies material from Chapter 6. If you are not sure what the company intends, make an educated guess about targeting and positioning from your ad.
3) How would you classify this product — convenience, shopping, specialty, or unsought good? Support your choice using explanations from Chapter 7.