Consumer Innovativeness and Readiness towards New Age Technology Products: I- Phone7
- Country : India
- Subject : Marketing
In this Study, we explore and present our findings on consumer behavior element regarding new product launched into an established product class. Consumers who repurchased a new product may switch to the competing product because of continued competitive marketing effort of competitive company. A new product model should capture this dynamic element of consumer behavior and the effect of marketing variables on decision to repurchase the new product or switch to a competing product was likely to be based on direct product experience
The main Objective of this research is to create a model that would capture consumer behavior and acceptance of any new product for example iPhone 7. How is new product an improvement over an existing product? How does it address an unmet need? Product innovation is crucial because it helps to gain a sustainable competitive advantage over rivals which also raises the scope to revitalize mature businesses and compete in new markets.
In this study, with the help of a focus group survey, various traits of the product are assessed. The investigation also discusses the effect of marketing efforts taken by the firm to launch this new product into an established product class.