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Product Purchase Decision-making Process

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Number of pages Requirement: One title page, Minimum of 2-page content, One reference page.References Requirement: Minimum of 3 Assignment Instructions: 

  1. Assume you come up with an idea for a new electronic product you think your fellow students would really like. How would you go through the product development process? How would you accomplish each step within that process?
  2. A fundamental question in the product purchase decision-making process is what makes this product different. As a result, marketing managers must identify important characteristics that successfully differentiate their product from others in the customer’s mind. List and explain an example of 4 product discriminators businesses use to differentiate their products in the market.
  3. Select various products as an example of each of the stages of the Product Life Cycle concept. Identify and discuss the marketing characteristics that are present for that particular life cycle stage with the product you selected.
  4. Choose a branded product of your choice. Identify and create a relevant profile such as age, income, gender, income, education, ethnicity, marital status, education, household (or business), size, profession/Occupation, geographical area, and personality for the marketing segment the product serves.
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