Answered

A company introduces a new flavor of coffee that fails in the market. What key challenge in meeting consumer needs does this example illustrate?

A. Focusing on consumer benefit and learning from past mistakes
B. Understanding consumer demographics
C. Conducting market research
D. Creating brand awareness



Answer :

GinnyAnswer

Final answer:

The importance of understanding consumer demographics, conducting market research, and learning from past mistakes in meeting consumer needs.


Explanation:

Understanding consumer demographics: The failure of the new coffee flavor in the market highlights the importance of understanding the demographics of the consumer base. Different regions and demographics have varying preferences and needs.

Conducting market research: Market research plays a critical role in determining consumer preferences and market demand. Without adequate research, companies may introduce products that do not align with consumer needs.

Focus on consumer benefit and learning from past mistakes: Companies should focus on learning from previous failures and continuously strive to offer products that provide value and meet consumer needs to succeed in the market.


Learn more about Consumer needs and market research here:

https://brainly.com/question/47825554


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