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The purpose of this assignment is to understand the decision-making process for consumer behavior. Identify a brand that recently launched a new product (e.g., Apple’s Vision Pro, Coca-Cola’s Creations). Using the resources provided in the class and topic resources, provide a 500- to 750-word analys…
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The purpose of this assignment is to understand the decision-making process for consumer behavior.
Identify a brand that recently launched a new product (e.g., Apple’s Vision Pro, Coca-Cola’s Creations). Using the resources provided in the class and topic resources, provide a 500- to 750-word analysis addressing the following items:
1. Identify the relevant segmentation for the product and then explain the characteristics within each segment that makes up the target market.
2. Explain the insights into the consumer’s psychological needs that have influenced the product’s functions, features, and design. As you develop your explanation, consider the following psychological concepts: motivation (as described by Maslow's hierarchy of needs), perception, learning (including both behavioral and cognitive approaches), as well as values, beliefs, and attitudes.
3. How did the brand help consumers through the decision-making process? Explain each step in the process and how the brand enhances relationship marketing during the decision-making process.
4. Explain how the brand may have used the seven stages in the new-product development process. What could the brand have done differently in these steps to improve the chances of success with the new product?
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