Name and Describe four Categories of new Products.
Please use a product as an example in each of the four categories.
Please provide a 2 page paper on this assignment.
I would like you to explain your answer with details and examples.
The category I would like to use is furniture. The product is mattresses
example: Category: Kitchen Appliances. Product: Smart Refrigerator. Description: RFID and AI technology know when food needs reordering and can place orders automatically. The unit will periodically scan UPC bar codes of food or by manual entry of frequently bought items, like milk, bread, and fruit. The unit will be connected to the internet via wifi and a supermarket like Foodtown or FreshDirect, and place orders on behalf
of customers. Test marketing and Product development were completed nearly a decade ago. Currently, the smart refrigerator is in the Introductory stage. Early adopters are taking advantage of this technology. In the next 5 to 10 years, it will exceed the early growth stages as adoption becomes more mainstream. Between 10-15 years, approximately 90% of households will have at least one smart kitchen device in their home and thus reach peak maturity level. After 15 years, this technology should decline, at which time, a new concept in household convenience would emerge