MRKT 452 Lecture Notes - Lecture 7: New Product Development, Theory Of Reasoned Action, Unconscious Mind

• School: McGill University
• Department: Marketing
• Course: MRKT 452
• Professor: Ashesh Mukherjee

Document Summary

Ads need to be creative in order to stand out. New product development: create new category or modify existing category. Coming up with creative new product ideas help companies increase profits. Sales of women athletic shoes max increase in sales. Knowledge about product= knowledge about customer: who is customer, what does customer need, how does product satisfy customer needs. Information about target market: consumer needs, consumer lifestyle, consumer attribute importance. Product design competition design car jack for senior citizens. Giving too much time is not helpful, need to put some sort of pressure. Depends on complexity of product and size of team. Innovation how can we successfully launch creative new products. Attitude under high effort: theory of reasoned action (tora) How people mentally combine attribute information into attitude. High relative advantage: better picture quality, surround sound than. Moderate use innovativeness: can rip movie into digital file. Low switching costs: old dvd library can be played on blue ray.