Question

1. Imagine that you are a member of a new-project team of a large appliance manufacturer. Your team is given the task of designing a new refrigerator for the U.S. consumer market.

(a) For each of the five types of consumer needs Objective-performance needs

(Hedonic/esthetic-performance need, Social-performance needs, Performance-reliability needs, Product-convenience needs)give a suggestion for how a new refrigerator could satisfy that need better than most currently available refrigerators.

(b) For two of the suggestions you made in Part (a), discuss which of the three types of product characteristics might best accomplish this better satisfaction of the consumer need.

Answer 1

a)

If you're launching a new product in the market and you want to be the best in the market then there are several things you need to know or understand while coming into the market. You're having a task to design a refrigerator that satisfies the needs of the customers. You need to set the best and fair price of your product so that maximum people will buy the product and make sure no one can feel that they can't afford that refrigerator. Moreover, people will only prefer your product if you have superior quality and service which will satisfy the needs of your customers and help to beat your competitors in the market.

b)

Customers are ready to pay you but in return, they want the quality of products. If you want to get differentiate from others then you can add various colors in your product which will leave a great impact on your customers. Secondly, You can add some advance features in your product which will differentiate your product with your competitors and have a great impact on your customers. Thirdly, you can add after service features which will help the customers to trust more in the company and it will be a wonderful step from the company's point of view.

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