Podcast
Questions and Answers
a function within a company that deals with the planning or marketing or forecasting of a product or products through at all stages of the product lifecycle.
a function within a company that deals with the planning or marketing or forecasting of a product or products through at all stages of the product lifecycle.
Product Management
a “thing produced by labor or effort” or
the results of an act or a process”, and stems from the verb produce.
a “thing produced by labor or effort” or the results of an act or a process”, and stems from the verb produce.
Product
In marketing, a _____ is anything that
can be offered to a market that might
satisfy a want or need.
In marketing, a _____ is anything that can be offered to a market that might satisfy a want or need.
Product
form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.
form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.
Signup and view all the answers
____ products
- meant for longer use
- possess good to excellent quality
____ products
- meant for longer use
- possess good to excellent quality
Signup and view all the answers
_____ products
- meant for immediate consumption
- disposable in nature
_____ products
- meant for immediate consumption
- disposable in nature
Signup and view all the answers
The ____ can be defined as the set of satisfactions and dissatisfactions which a
customer receives from experience.
The ____ can be defined as the set of satisfactions and dissatisfactions which a customer receives from experience.
Signup and view all the answers
The ____ may be physiological, economic, social, or psychological.
The ____ may be physiological, economic, social, or psychological.
Signup and view all the answers
also known as benefits and is general intangible in nature.
also known as benefits and is general intangible in nature.
Signup and view all the answers
the one which is manufactured after a decision has been taken on what core product is going to be. quantifiable in nature and have
properties like color, branding, quality etc
the one which is manufactured after a decision has been taken on what core product is going to be. quantifiable in nature and have properties like color, branding, quality etc
Signup and view all the answers
Non-tangible benefit a product can offer. as the name suggests, arises by them and are by products of the core and actual products.
Non-tangible benefit a product can offer. as the name suggests, arises by them and are by products of the core and actual products.
Signup and view all the answers
this product offers additional consumer services and benefits
this product offers additional consumer services and benefits
Signup and view all the answers
develop product and service features, design, a quality level, a brand name & packaging
develop product and service features, design, a quality level, a brand name & packaging
Signup and view all the answers
what is the buyer really buying?
what is the buyer really buying?
Signup and view all the answers
also known as product
assortment, refers to the total number of
product lines that a company offers to its
customers
also known as product assortment, refers to the total number of product lines that a company offers to its customers
Signup and view all the answers
It is combination of products manufactured
or traded by the same business house to
reinforce their presence in the market,
increase market share and increase the
turnover for more profitability.
It is combination of products manufactured or traded by the same business house to reinforce their presence in the market, increase market share and increase the turnover for more profitability.
Signup and view all the answers
It is the sum total of all products that a
company offers
It is the sum total of all products that a company offers
Signup and view all the answers
It is the most basic type of
pricing and simply represents setting the
cost of a product at some level above the
cost of producing and distributing that
produc
It is the most basic type of pricing and simply represents setting the cost of a product at some level above the cost of producing and distributing that produc
Signup and view all the answers
is pricing that is established specifically to address and respond to the prices of competitiors’ products.
is pricing that is established specifically to address and respond to the prices of competitiors’ products.
Signup and view all the answers
It is a pricing strategy used
most frequently by new entrants to a
market or by companies who have
developed new products that have little to
no competition. Skimming establishes
pricing at a high price point to take
advantage of sales that will occur before
competition.
It is a pricing strategy used most frequently by new entrants to a market or by companies who have developed new products that have little to no competition. Skimming establishes pricing at a high price point to take advantage of sales that will occur before competition.
Signup and view all the answers
is a product mix pricing
strategy designed to gain market share by
introducing a new product or service at a
low price point to encourage consumers to
try the product. Companies using
this pricing may even price their
products at lower than cost to raise
awareness and capture a large share of
the market.
is a product mix pricing strategy designed to gain market share by introducing a new product or service at a low price point to encourage consumers to try the product. Companies using this pricing may even price their products at lower than cost to raise awareness and capture a large share of the market.
Signup and view all the answers
