Book- Marketing Management Kotler and Keller
Question #1-
In Chapter 15, Kotler and Keller (see attachment labeled, pg 437-454), discuss the New Product Development Process. Additionally, there is an attached PowerPoint Presentation (see attachment labeled, New Product Development Process) that focuses on the eight stages of the New Product Development process.
Utilizing the attached information (the attached text pages and PowerPoint) discuss the eight steps of the New Product Development Process by:
1. Illustrating how your employer or company (please use a college or university as the company/employer, you can pick any department within a college/university, like the Admissions Department, or the Registrar Department, or the Financial Aid Department, etc.) would utilize these eight steps
2. What improvements would you recommend to them.
Question #2-
In Chapter 13, Kotler and Keller (see attachment labeled, pg 376-378) discuss some of the unique issues surrounding luxury products. Then in Chapter 16, Kotler and Keller (see attachment labeled, pg 465-466) discuss how consumer psychology influence how consumers' perceive price. Finally, in the following Ted Talk video (see link below) from 2008, Benjamin Wallace details his experiences with trying some of the world's most expensive luxury products and if they were worth the price:
https://www.ted.com/talks/benjamin_wallace_on_the_price_of_happiness
Utilizing the information above, please discuss
1. What represents luxury to you and focus on two (2) examples of luxury when explaining what represents luxury to you,
2. Why do those two examples represent luxury to you, and how does price impact that perception?