All Theses, Dissertations, and Capstone Projects

Year of Award

1992

Degree

Master of Business Administration (MBA)

College

College of Business & Professional Studies

Degree Program

Business Administration

Department

Business Administration

Keywords

product, test, advertising, research, development

Abstract

Thousands of new products are introduced annually into the marketplace. To be successful, these new products must meet consumer demands. Therefore, marketers need to understand very thoroughly the needs and desires of potential consumers and the way in which product features can be combined to satisfy these needs. The key to successful marketing strategy, both domestically and globally, is a thorough understanding of consumer behavior.

The purpose of this research is to examine the field of consumer behavior as it relates to the strategic marketing of a new product. This research presents the answers to the following questions:

* How are successful products created

* What factors should be considered * What strategies should be considered

* What managerial techniques are available to aid in creating products, forecasting sales, and maximizing profits

* How is a new product matched with consumer needs.

This research is divided into three parts. The first part is to define consumer behavior. The social and cultural influences of this behavior along with the demographics and economics factors which determine consumer decision making is also discussed. The second part presents the innovation strategy, opportunity identification, and planning for a new product. The final part of this research summarizes the relationship between consumer behavior and the strategic marketing of a new product, and presents some trial/repeat models for recommendation.

Document Type

Restricted Thesis

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Creative Commons Attribution-No Derivative Works 4.0 License
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