A company producing running shoes professional athletes is using the information system to support the fc strategy: Substitute products Low cost leadership Focus on market niche

Q: Does it help the product more if it's tailored to what the market wants

A: Yes, it can be said with justification, that a tailored strategy can help the product by leaps and…

Q: For the following products, indicate what factor(s) you would use to estimate market potential?…

A: Marketing strategies play an essential role in building the customer base, attracting the attention…

Q: What is the main difference between buying products and services for personal consumption and buying…

A: Introduction:- Buying refers to the series of steps that a person will take to make purchase…

Q: In what ways is the company Target addressing the needs and wants of its target consumers? please no…

A: Target Corporation -  It is the 2nd largest discount retailer and mass merchandiser in the USA.…

Q: Discuss approaches that a company can use to rectify a weakness in its customer value proposition.

A: Customer value proposition- A business way of creating value in its product and service while…

Q: Why is it essential to retain customers, and how can we relate customer retention with relationship…

A: Retention of customers: It is very important to retain customers as the business needs regular…

Q: What are the types of decisions related to each element of the marketing program for delivering a…

A: A Marketing program is a set of activities planned by the business that is designed to create a…

Q: Understanding the marketplace and customer needs and wants: What are a few (at least 4) trends…

A: Since this is a multipart question and the questions which are to be answered are not mentioned, I…

Product and Service Classification

Classification of goods and services categorized between industry and customer goods is known as Product and Service classification. It is based on brands, quality, and quantity which companies deliver to the concerned client. Industrial goods are produced for industrial work, whereas consumer goods are produced for personal consumption by the customers. Marketing and sales need technological methods, a healthy environment, proper market strategies, marketing environment in terms of productivity and profit.