Q: What are the benefits of concept testing of products?
A: Release a new product without adequate concept testing is akin to sailing through uncharted waters;…
Q: State the types of benefits an employee can receive from a firm.
A: Employee benefits are accompanied by salary, which is offered by a company. These benefits are…
Q: How can a business firm improve the quality of its products or services?
A: A product is a tangible object that is placed on the market for acquisition, attention, or…
Q: How is a marketing-oriented firm different from a production-oriented firm or a sales-oriented firm?
A: Marketing is concept which brings the idea of manipulation of customers by informing them various…
Q: What are the benefits of innovative products?
A: Innovative items can introduce new technology or methods of doing things. When the gas and electric…
Q: Why is sales forecasting important?
A: To make informed decisions, an accurate forecast of future sales is required. Sales forecasting is…
Q: What are the challenges of cultural diversity in an organization?
A: Business executives perceive that doctrine education adds completely different views to a team,…
Q: ‘Marketing to the bottom of the pyramid (BOP) offers opportunities to companies but at the same time…
A: Marketing has a huge role to play for companies to grow in the market and expand their business.…
Q: What is meant by a pricing strategy?
A: Price is important because it can influence whether or not a customer buys a product. After all,…
Q: What is the difference between brand insistence and brand preference?
A: A brand can be denoted as a name, symbol, design, word, or sentence that differentiates a product…
Q: List and explain a variety of pricing objectives?
A: Pricing objectives refers to various type of goals that give suitable guidance to a firm, in order…
Q: identify whether you think exploratory, descriptive or causal research would be the most…
A: An initial study on a speculative or theoretical idea is known as exploratory research. This style…
Q: Define distribution channel.
A: Many manufacturers do not sell products or services directly to consumers; instead of relying on…
Q: What would be the Segmenting (demographics, psychographics, behavioral) for dishing washing liquid…
A: The segmenting activity is related to marketing function where potential customers are first…
Q: 10
A: Market segmentation is the strategy of dividing the market of potential customers into groups or…
Q: Do you think social media would work well in smaller companies? Why or why not?
A: Social media is technology which works in collaboration with computer and internet technology. It…
Q: Discuss the different strategies available to companies for setting prices.
A: Pricing is the determination of the price for the product to be sold to the buyers. Pricing strategy…
Q: How organization ensures that its employees are motivated or not?
A: Employee motivation is essential for reasons which are numerous. It notably assists management in…
Q: What is meant by Brand equity?
A: Indeed, many businesses are frequently referred to by their brand, which means they are frequently…
Q: explain Shoprite Holdings below intermediaries that adds value by bridging the gap between the…
A: The intermediaries like the wholesalers, merchants, distributors, agents and facilitators are an…
Q: Describe common channel structures and strategies and the factors that influence their choice
A: Management of channels supports the development of a distribution structure for selling and…
Q: Video games a Select one: O True O False
A: Creative industries refers to the activities which involves generation and exploration of knowledge,…
Q: What type of market is Huy Fong targeting with its sriracha sauce?
A: Market- It is a place where makers, retailers or distributors sell and customers buy that product.…
Q: How marketers collect primary data and secondary data?
A: Market research provides marketers with valuable data to help them make decisions. Although primary…
Q: Define the term product.
A: Market demonstrates a places which is solely used for buying and selling process. Market could be…
Q: 8. Does retailing involve the selling of goods and services to a consumer? Why or why not?
A: Retailing is the process in the distribution system or the Supply Chain management which includes…
Q: Explain Statistical Process Control (SPC).
A: During World War II, the United States saw a significant increase in the use of control charts to…
Q: What are the five levels of needs in Maslow’s hierarchy? How are a person’s needs related to…
A: Maslow's Hierarchical needs concept was suggested by Abraham Maslow and is known to be one of the…
Q: Explain the term layoff in business.
A: Business- It is well defined as an enterprising or organizational entity that is engaged in…
Q: Name the two general categories in which products can be grouped?
A: Product: A product is considered as a tangible good, but it can also be an intangible in terms of…
Q: How brands differentiate and position their products in the minds of their target markets. In…
A: Product differentiation is a marketing strategy aimed at making a company's products and services…
Q: Assume you are part of a Ford focus group. The interviewers are interested in your comments about…
A: Market research is one of the most important activity for any company. It helps the company to…
Q: Describe criticism. Explain how you would practice effective criticism of your peers’ speeches in…
A: Understanding what constitutes effective criticism is the first step in dealing with it at work.…
Q: Discuss two major flaws of markup pricing.
A: Markup pricing is a method of determining the price of a product or service. This pricing combines…
Q: How psychological pricing is different from differential pricing?
A: A pricing strategy is a plan of action in which a price is determined for the product depending on…
Q: How does plan strategy, ploy strategy, and pattern strategy are adopted in the corporate world?
A: Even though the term "strategy" has typically been defined in only one way, it has been used…
Q: How product life-cycle leads to new product development?
A: Marketers, executives, and designers all benefit from understanding the product life cycle. It…
Q: Is marketing information as important to small firms as it is to larger firms? Explain.
A: Every business will try to create value for customers and shareholders. Shareholders will receive…
Q: Define target market.
A: Marketing ensures that product information and product reaches to customers who wants to consume it.…
Q: Explain everyday low prices (EDLPs).
A: Price is the monetary value paid for a product in a marketing exchange. It could also be things you…
Q: What are the objectives of pricing?
A: Pricing is said to value or price which is attached to the product and at which it would be sold to…
Q: Imagine that you are opening a new yoga studio in a local area. Based on your research, you found…
A: Marketing mix helps in making the communication with the prospective customers more effective.
Q: Explain what is a commercial database?
A: Commerce is very important for the world. As a result of increase in commercial activities, there…
Q: A firm recently spent $100 on Google AdWords and generated 100 extra visits to the firm’s web site,…
A: Internet has taken over the world and marketers are making full use of it. There are so many digital…
Q: What is meant by sales forecast?
A: Accurate sales forecasting is critical for business success. It affects hiring, payroll,…
Q: • Assume that you need to do a market research before launching a “car service at doorstep” business…
A: Qualitative Data Collection: It's about people's perceptions, thus qualitative data is descriptive…
Q: Identify the major components of the marketing concept.
A: A marketing plan is a step-by-step guide to introducing and delivering your product or service to…
Q: What was the purpose of the Americans with Disabilities Act (ADA)?
A: A person must have a physical or mental impairment that significantly limits one or more major life…
Q: 4. The most POPULAR BASES of grouping markets. 5. The focus of your campaign’s positioning when it…
A: Organizations manufacture goods or produce products (services) to sell in the market. While taking…
Q: Which issues should be considered when selecting a brand name?
A: A good brand name should be unique and distinctive so that the target customers can easily recognize…
Explain Value Is Based upon Perceived Satisfaction?
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- Please explain each stage of Maslow's hierarchy of needs. As you read about this model, which need do you find yourself thinking about the most and why?Discuss Maslow's hierarchy of needs as it relates to one's pursuit of personal and professional growth and advancement?Why is the understanding of want satisfaction so important to marketers?