Select a new product that could be introduced in the market. Alternatively, select an existing product that a firm would want to revamp and reintroduce in the marketplace, where you define the product to include the following:
- General description of the product (new, revamped, or reintroduced)
- Relative advantages and complexity of the product
- Value, use, risk, and price of the product according to the company or according to your estimate
- Analyze and examine the new attributes of the product.
- Determine the aesthetic value; usability; additional features; technological complexity; use experience; and extent of change in identity, look, feel, and sound of the product, considering the following:
- Target market
- SET factors
- Position on the style-technology map
- Identifying an innovative product that you want to market
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The general descriptions of the products are determined. The expert analyzes and examines the net attributes of the products.