Explain various levels of Product with examples? (10 Marks) For many a product is simply the tangible‚ phsysical entity that they may be buying or selling. You buy a new car and that’s the product - simple! Or maybe not. When you buy a car‚ is the product more complex than you first thought? In order to actively explore the nature of a product further‚ lets consider it as three different products - the COREproduct‚ the ACTUAL product‚ and finally the AUGMENTED product. These are known as the ’Three
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Assignment 1: Discuss the product decisions. Before discussing the product decisions‚ it is important to define a product and its classifications. Product A product can be defined as anything that can be offered to satisfy human needs. Further it can also be described as anything that is potentially vslued by a target market for the benefits or satisfaction it provides including objects‚ services‚ organizations‚ places‚ people and ideas.(woodruff 1996) A product is anything that can be
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to potential consumers. A typical product policy created by a business for a manufactured product might attempt to manage how the item will be perceived by its target market and could also contain information about how durable the product is. Product policy covers product planning and development‚ product line‚ product-mix‚ product branding or identification‚ product style‚ product positioning and production packaging. It includes product diversification. PRODUCT POLICY
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Levels of Product and Service Product Name: Itel Mobile Phone (Model: IT 6700). Introduction: Product planners need to think about products and services on three levels. Each level adds more customer value. The most basic level is core benefit. At the second level‚ product planners must turn the core benefit into actual product. Finally‚ product planners must build an augmented product around the core benefit and actual product by offering additional consumer services and benefits. Now I discuss
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GCF of 12x3‚ 14x6‚ and 18x2 11. Find the GCF of 17x5‚ x2133‚ and 4x9 12. Find the GCF of 18x6y3‚ 9x10y2‚ and 3x6y4 3. Factoring Monomials ****To factor a polynomial means to write the polynomial as a product of prime polynomials. 1. Find the GCF of each of the terms 2. Factor out the GCF from each of the terms 1. 6a3 + 15a = 2. 32b2 + 12b = 3. 12a5b2 + 16a4b = 4. 9x2 + 18y4 = 5. 7x2 – 15y = 6. y4 – 3y2 – 2y = 7. 2x5 + 3x4 –
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Product Levels: The Customer-value Hierarchy The marketers need to address five product levels. Each level adds more customer value‚and the five constitute a customer-value hierarchy. 1. Core Benefit The fundamental need or want that consumers satisfy by consuming the product or service. Example 1: In case of a car Transportation from one place to another. Example 2: The customer in search of a hotel room demand only rest and sleep from a marketer. 2. Basic Product
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your product‚ identify the proper target market and positioning the product to create maximum profits. The most important of STP marketing is determining exactly what benefits your product offers and who will benefit most from using it. STP is important for marketer to create a competitive advantage and marketing plan designed specifically for the customers who will be most likely to buy the product. The STP process allows marketer to identify the correct segment to market the product and
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launching your product and company in the market. The term “positioning” should be viewed both as a verb and a noun. As a verb‚ it can be defined as deploying a set of tools and processes used to influence and control the market’s perception of your product or company in relation to any competing alternatives. As a noun‚ it can be defined as an attribute or condition associated with your product. Nevertheless‚ positioning is not what your company physically does to a product—it is what your
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case of product and services and their complementary role in effectively marketing the firms offerings. 2. (a) What is STP strategy? The success of product/service largely depends on the effectiveness of proper segmentation by the marketer. Justify by taking two examples of your choice. (b) What is Marketing Research (MR)? Discuss its role and Importance in the marketing decision in a competitive environment. Comment on the application of MR and their benefits. 3. (a)
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scenario: product trial versus product advertising. The specific contributions of attitude strength and typw of behavior are examined‚ and results show that when ottitudes are based on trial they predict purchase very well. When attitudes are based on advertising‚ however‚ attitude-behavior consistency is significantly reduced. Implications for when attitude models should be applied in marketing research and practice are discussed. Attitude-Behavior Consistency: The Impact of Product Trial Versus
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