Explain how firms obtain new products and why it is an important process for companies and customers.

Q: Identify three or four well-known firms that succeed through product differentiation

A: Product differentiation is a marketing strategy where products are differentiated on the basis of…

Q: Cite one example of product or services and use the process of the 7 stages of new market…

A: New market development is a process that involves finding business opportunities or creating new…

Q: Explain in details why firms must introduce new products and how they go about it.

A: ANSWER IS AS BELOW:

Q: Using a product that you have in your house or apartment, discuss how well you think it is…

A: The design of the product also influences the type of customers that need to tapped. The uniqueness…

Q: How do you think Philip Morris will announce its freshly developed items to its existing and…

A: Philip Morris International (PMI), a leading tobacco company, faces the challenge of announcing its…

Q: discuss the Five Generic Strategies in relation to a shoe company

A: A company can provide to every person in the market. But their needs will differ so much that they…

Q: List the key characteristic distinguishing business products from consumer products?

A: Some different organizations and industries are active these days. Some different products and…

Q: Describe IKEA's process for developing a new product

A: IKEA’s brand is associated with simple, low cost, stylish, good quality products. IKEA standardized…

Q: marketing strategies that can be utilized at the growth stage  to sustain the sales and…

A: In the product life cycle there are five stages Product Development Stage, Introduction Stage,…

Q: What are the alternatives?

A: In an organizational decision-making process, while collecting information, managers identify…

Q: Could you please show the Customer Relationship Framework in a clear figure?

A: INTRODUCTION -  A conceptual tool that can assist firms in understanding and managing their customer…

Q: Differentiate consumer and industrial product and provide sample companies that produces that…

A: The main goal or aim of any business is to develop a product or service and launch it in the market.…

Q: Information can come in many different forms, list five forms

A: There are various types of information that are being used days in various business and marketing…

Q: Is technology the primary determinant of the products in the firm? Explain how?

A: Technology refers to the processes through which inputs are converted into outputs. Technology is…

Q: How will consumers learn about the product/service?

A: Most of consumers come to know about the product either through media or through referrals. Media in…

Q: Why do  you think some customers prefer CD's or digital downloads?

A: Media are the communication networks or devices used to store and deliver data or information. The…

Q: How do companies add value to products via their marketing channels? Give an example and explain

A: Marketing channels are all set of people or organization that perform activities to transfer…

Q: What different strategies do firms use to extend the life cycles of their products throughout the…

A: The product life cycle gives the marketers an understanding of the stages of the product through…

Q: Is the Sheisedocompany offering a Product (Tangible) or Service (Intangible)? Explain why is it…

A: Intangible products are those products that cannot be seen, touched, tasted, or smelled. On the…

Q: how does an organization create a customer?

A: Creating and distributing products is essential for organizations operating in today's competitive…

Q: How do you promote your product/service to create an impact, differentiate from competitors and…

A: The aim of product differentiation is to gain a competitive advantage or to distinguish your product…

Q: How product mix strategies can be used to make product more effective in market? Elaborate your…

A: The product Mix refers to the combination of variety of products that a seller or brand sells under…

Q: Why is a Sales forecast and Sales Budget so important to the Supply Chain process?

A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…

Q: Products are invented and revised by which department? Marketing Production Research and…

A: The question is asking us to identify which department within a company is typically responsible for…

Q: What benefits do clients get from the combination of products and services?

A: The combination of product and service is known as a product-service hybrid, The iPod and iTunes,…