1. Innovation is the Key to Product Progress
... person depends upon the innovative features of the product. Whereas, in a market where the consumer is less learned the importance of innovation is lesser due to the fact that the consumers in this market have less knowledge. To further understand the mind of our consumers, lets take a look at a Simple Model of Consumer Decision Making. Table 1. A Simple Model of Consumer Decision Making. The ... efforts are on top. In these efforts we see that the Product is first on the list of efforts. When we talk about the product we have to remember that innovation is the basic necessity for the e...
- Word Count: 1350
- Approx Pages: 5
- Grade Level: High School