Foundations of Marketing 7th Edition by William Pride,Ferrell

Exercise 18

Identifying the needs of consumer groups and developing products that satisfy those needs are essential when creating a marketing strategy. Successful product development begins with a clear understanding of fundamental product concepts. The product concept is the basis on which many of the marketing plan decisions are made. When relating the information in this chapter to the development of your marketing plan, consider the following:
Create a brief profile of the type of consumer who is likely to represent each of the product adopter categories for your product.
The information obtained from these questions should assist you in developing various aspects of your marketing plan found in the "Interactive Marketing Plan" exercise at www.cengagebrain.com.