Question

QUESTION 1 In terms of brand loyalty, consumers prefer specific brands but will accept substitutes for which type of consumer product? shopping product convenience product specialty product unsought product discretionary product QUESTION 2 The new product development process is the informal process of brainstorming to generate new product concepts at a marketing staff meeting. the process of presenting cross-functional teams with a written new product concept statement and asking them to respond to it in writing. the seven stages an organization goes through to identity business opportunities and convert them into salable products or services. the two stages an organization goes through from idea generation to commercialization O a formalized protocol for new product development that begins at the corporate level and ends at the functional level.

Answer 1

Ans) 1) Brand loyalty occurs when a firm offers highly differentiated products with superior quality and high price.

Shopping products are those which are expensive, differentiated, and have large number of selective outlets.

Option a.

2) New product development process involves idea generation, screening, concept development and testing, marketing strategy development, product development, testing and finally commercialization.

Option c (seven stages...)