Explain why marketers need to understand the views of consumers in dealing with the compatibility and complexity of innovations
What will be an ideal response?
Compatibility is the extent to which a new product is consistent with existing cultural values, customs, and practices. By anticipating compatibility issues early in the new product development stage, marketing strategies can address any such problems in planning communication programs, or there may be opportunities for altering product designs to overcome any consumer objections. Complexity is the degree to which consumers find a new product or its use difficult to understand. Perhaps if the consumer does not understand what a product can do or how to use it, the product will not be purchased.
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Value chain linkages must be examined not merely across activities within the company but also in terms of managing relationships with external entities such as suppliers, alliance partners, distributors, or customers within and across nations.
a. true b. false
Under the absorption-cost approach, all of the following are included in the cost base except
a) direct materials. b) fixed manufacturing overhead. c) selling and administrative costs. d) variable manufacturing overhead.