Podcast
Questions and Answers
Carrying the proper assortment of products
provides the best opportunity of meeting
customer’s needs. The customer comes to
rely on primary resource, which means he
may be less likely to shop with competitor
Carrying the proper assortment of products provides the best opportunity of meeting customer’s needs. The customer comes to rely on primary resource, which means he may be less likely to shop with competitor
customer needs
Product mix is important in determining the
image of the business and brand, as it helps
to maintain consistency in the eyes of target
market
Product mix is important in determining the image of the business and brand, as it helps to maintain consistency in the eyes of target market
business image
Making use of product mix concept helps to
stay focus on core business. As buisness
grows, may be tempted to add more product
lines in an effort to reach more customer
Making use of product mix concept helps to stay focus on core business. As buisness grows, may be tempted to add more product lines in an effort to reach more customer
providing focus
By focusing on providing optimum product mix for customers, one will be able to weed out slow sellers and make room for more appealing items. One would not clutter precious selling and storage space with goods that would not sell, and one will continuously
offer the fresh products customers really wan
By focusing on providing optimum product mix for customers, one will be able to weed out slow sellers and make room for more appealing items. One would not clutter precious selling and storage space with goods that would not sell, and one will continuously offer the fresh products customers really wan
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defined as a group of products that are closely related to each other. They function in the same manner and are sold to the same customer groups.
defined as a group of products that are closely related to each other. They function in the same manner and are sold to the same customer groups.
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These products are marketed from the same
types of outlets and fall within a specified
price range.
These products are marketed from the same types of outlets and fall within a specified price range.
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The product line has:
❖ ______ refers to the number of product
variants in a line.
The product line has: ❖ ______ refers to the number of product variants in a line.
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The product line has:
❖ _____ refers to how closely
relate the products that make up the line.
The product line has:
❖ _____ refers to how closely relate the products that make up the line.
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The product line has:
❖ _____ refers to the percentage
of sales or profits that are derived from
only a few products in the line.
The product line has:
❖ _____ refers to the percentage of sales or profits that are derived from only a few products in the line.
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consists of a set of products that relates to one another while product mix combines several product lines.
consists of a set of products that relates to one another while product mix combines several product lines.
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starts when the new product is
launched. Because it takes time to roll out
the product in several markets and to fill the
dealer pipelines, sales growth is slow at this
stage.
starts when the new product is launched. Because it takes time to roll out the product in several markets and to fill the dealer pipelines, sales growth is slow at this stage.
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The Early adopters like to adopt the product and additional costumers start to buy the product. Seeing the attractive market opportunities competitors enter in the market.
The Early adopters like to adopt the product and additional costumers start to buy the product. Seeing the attractive market opportunities competitors enter in the market.
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They introduce the new product features and
expand the distribution chain. Profits increase during this stage as a) promotion costs are spread over the large volume and b) unit manufacturing cost fall faster than price decline. The rate of growth eventually changes from an accelerating rate to decelerating rate
They introduce the new product features and expand the distribution chain. Profits increase during this stage as a) promotion costs are spread over the large volume and b) unit manufacturing cost fall faster than price decline. The rate of growth eventually changes from an accelerating rate to decelerating rate
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Improve product quality and adds new
product features and improved styling
-Add new models and flanker products
-Enters new market segments
-Increase its distribution coverage and enters
new distribution channels
-Shifting from product awareness advertising
to product preference advertising
-Low down the price to attract the next layer of price-sentisitive buyers
Improve product quality and adds new product features and improved styling -Add new models and flanker products -Enters new market segments -Increase its distribution coverage and enters new distribution channels -Shifting from product awareness advertising to product preference advertising -Low down the price to attract the next layer of price-sentisitive buyers
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Here the product’s rate
of sales growth will sow down, and the
product will enter a stage of relative
maturity. This stage normally lasts longer
than the previous stages, and it poses
formidable challenges to marketing
management.
Here the product’s rate of sales growth will sow down, and the product will enter a stage of relative maturity. This stage normally lasts longer than the previous stages, and it poses formidable challenges to marketing management.
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Maturity stage can be subdivided into three
phases.
_____: The sales growth rate starts
to decline. There are no distribution channel
to fill
Maturity stage can be subdivided into three phases. _____: The sales growth rate starts to decline. There are no distribution channel to fill
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Maturity stage can be subdivided into three
phases.
______: Sales flatten on per capita
basis because of market saturation.
Maturity stage can be subdivided into three phases.
______: Sales flatten on per capita basis because of market saturation.
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Maturity stage can be subdivided into three
phases.
_______: The absolute level of sales
starts to decline, and customers start switching to other products.
Maturity stage can be subdivided into three phases.
_______: The absolute level of sales starts to decline, and customers start switching to other products.
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high price, low promo
high price, low promo
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high price, high promo
high price, high promo
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low price, high promo
low price, high promo
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low price, low promo
low price, low promo
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The company can try to expand the number
of brand users in three ways:
1.1 Convert Nonusers: The Company can try to attract nonusers to the product
1.2 Enter new market segments: Try to enter
new segments that use the product but not the brand.
1.3 Win competitors’ Customers: try to attract the competitors’ customers or adopt the
The company can try to expand the number of brand users in three ways: 1.1 Convert Nonusers: The Company can try to attract nonusers to the product 1.2 Enter new market segments: Try to enter new segments that use the product but not the brand. 1.3 Win competitors’ Customers: try to attract the competitors’ customers or adopt the
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Managers also try to stimulate sales by modifying the product’s characteristics through quality improvement, feature improvement, or style improvement.
Managers also try to stimulate sales by modifying the product’s characteristics through quality improvement, feature improvement, or style improvement.
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Product managers also try to stimulate sales by modifying other marketing mix elements.
Product managers also try to stimulate sales by modifying other marketing mix elements.
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The sales of most product forms and brands eventually decline. It might be slow, or rapid. Sales may plunge to zero or they may petrify at a low level.
The sales of most product forms and brands eventually decline. It might be slow, or rapid. Sales may plunge to zero or they may petrify at a low level.
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this strategy seeks to
increase market share of the current product
or services in the existing market.
this strategy seeks to increase market share of the current product or services in the existing market.
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enumerate the product life cycle
enumerate the product life cycle
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