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...

Please search and answer questions (detailed instructions attached). Also, please cite sources. Thank you!!


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 briefly describe in paragraph form the four new paint products. For each product: 1. Describe what makes the product “new” 2. Describe the brand under which the product is delivered. Why does this product make sense/not make sense with that brand? 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 brand? 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 for the paint company’s marketing)? 1. Is it higher or lower than other products from that same brand? Why? 2. Is it higher or lower than other products from OTHER paint brands? Why?