special topic in management

timer Asked: Oct 4th, 2020

Question Description

The purpose of this assignment is to encourage you to create options.

Today, one of the biggest challenges that manufacturers face is commoditization. In business, commoditization is defined as the process by which goods that have economic value and are distinguishable in terms of attributes end up becoming simple commodities in the eyes of the market or consumers. This is true of personal computers, for example. It is hard to distinguish brands such as Lenovo, HP, ACER and Dell on the basis of their attributes. Commoditization understandably creates significant challenges for marketers. One way that they are trying to overcome them is by engaging in design thinking.

The most popular form of design thinking that many marketers like to engage in is called Human Centered Design. Human Centered Design is a structured approach that seeks to identify interests, factual research and options. Marketers use it to find new features or attributes in products that consumers are likely to be receptive to.

Imagine that you are a marketer or sales person for a commoditized product of your choice and that you are trying to persuade consumers to pay more for it. Please identify three to five features for that product based on 1) the interests/needs of the consumer, 2) on research and/or data and on 3) how it can be introduced to the product or how it is marketed. It is very important that you use the interests and needs of the consumer as your starting point. Think, before all else, of the need that you are trying to satisfy for the consumer. That is the starting point of design thinking.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

This question has not been answered.

Create a free account to get help with this and any other question!

Related Tags

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors