INSTUCTIONS
Let’s consider the paint market (our topic) and where product development takes place
with paint. PLEASE DO THE FOLLOWING AND ANSWER IN PARAGRAPH FORM.
· Search online and identify at least four (4) new paint products introduced in the past 4 or 5 years.
Do NOT discuss tools use to apply paint, clean up paint, scrape paint, etc.
We are concerned entirely with the market of the paint itself.
· Then answer the following:
1. Please
iefly describe in paragraph form the four new paint products. For each product:
1. Describe what makes the product “new”
2. Describe the
and under which the product is delivered. Why does this product make
sense/not make sense with that
and?
3. In what sales channel (store types) can the product be found?
4. For each product, explain how it might enhance the “value” delivered to customers.
2. Which of the four new paint products you found seems likely to create the best long term
demand for product from that paint
and?
3. For the product you think which will generate the best long-term demand, what type of
CONSUMER RESEARCH might you recommend to learn about how consumers will respond
to the product?
1. Which research methodology?
2. What specific issues would you want to learn about?
REMEMBER: Color cannot be replicated effectively online — color is different on each computer and monitor. Color is also “backlit” on a monitory — nothing like real life. Your suggestions MUST take this into account.
4. Does the price of this product seem effective to you (effective meaning it is a good approach fo
the paint company’s marketing)?
1. Is it higher or lower than other products from that same
and? Why?
2. Is it higher or lower than other products from OTHER paint
ands? Why?