Explain the product concept?

Q: How can I introduce a product to the decision point in the product life cycle?

A: Product life cycle is a chain of events within which a product survives and goes on its existence…

Q: Describe how to create a brand, brand equity and setting product strategy for market offering?

A: A brand can be in the form of a specific name, particular design or a certain term which makes it…

Q: Which product attributes in TiVo seem to be problematic to you? If you were to introduce…

A: Answer of this question is given below:

Q: Explain the importance of the product life cycle concept in marketing. Name and explain each of its…

A: Product life cycle refers to marketing concept which explains that every product that exists in the…

Q: Why is it important for marketers to understand the product life cycle?

A: The notion of a "product life cycle" defines the usual stages that a product goes through from the…

Q: What is Customer-centred new-product development?

A: Customer-centric is a fundamental orientation. Every business should follow it, but following it…

Q: List the factors that influence purchase decisions and product use?

A: Consumer purchase behavior refers to the actions and thoughts that a customer makes and goes through…

Q: What impact would the new product probably haveon total sales, profits, market share, and return…

A: Profit is the difference between the total cost and the total revenue.  Profit=TR-TC Sales means the…

Q: Give an example for product concept?

A: The product concept is based on the understanding that consumers will choose the product if it has…

Q: What makes a product unique

A: In general, a Product is defined as a set of tangible and non-tangible benefits a consumer gets…

Q: how would such costs and benefits be different over the product life cycle"

A: The cost and benefits are different over the product life cycle as:

Q: What are the must have questions to prove the acceptability of an oorganic product's packaging?

A: Packaging configuration decides to accomplish two objectives: safe appearance and successful…

Q: How would the introduction of the product affectexisting products? Would the new product cannibalize…

A: Businesses are primarily concerned with developing new items and marketing them to customers. There…

Q: How does product differentiation contribute to customer loyalty and repeat purchases

A: Product differentiation is a marketing strategy and concept that involves creating and promoting…

Q: What are the advantages and disadvantages of attempting to reposition a product in the mind of…

A: Introduction :  Repositioning is the process of altering perception once more while utilizing extra…

Q: How can introduce a  product to the growth stage in the product life of the cycle

A: The product life cycle is the pathway of the company's product. The important stages in the…

Q: What is the difference between product feature and product characteristics?

A: What are Product Features? Product feature  - Product features are characteristics that any product…

Q: What role does market basket analysis play in understanding product affinities and optimizing…

A: Market Basket Analysis (MBA) is a powerful analytical technique used in retail and e-commerce to…

Q: What do you mean by brand equity and brand positioning ?

A: Brand is a logo,symbol,sign,etc used by companies to differentiate their products from others.…

Q: s should be taken to establish a new product br

A: Features of branding: 1) Trustworthiness. The brand's distinctive and special features build an…

Q: What is our core product? Actual product? Augmented product?

A: All products are divided into three levels. These levels of products are: The core product The…

Q: Discuss several total products that are more than their direct features?

A: Total products are a term that refers to a product's or service's package of services; customers use…

Q: What is a price? How does the price of a productdiffer from the cost of the product to the consumer?

A: Price is an element/component of the marketing mix. It is described as the amount of money need to…

Q: In light of the above, write a paragraph in which you discuss the

A: Answer is about brand acceptance. But In the absence of context a general description is being…

Q: Select a product you are familiar with and explain the stages of the product’s life cycle and…

A: Introduction:The iPhone, a flagship product of Apple Inc., is a perfect example of a product with a…

Q: What is the difference between the core product, theactual product, and the augmented product?

A: There are different levels of products to extent how much they are essential to the customer. There…

Q: How does product placement contribute to brand awareness and brand recall?

A: Product placement is a marketing tactic that involves promoting specific goods or services in…

Q: Customer satisfaction improves the product?

A: Yes, Customer satisfaction improves the product . It is widely believed that satisfied customers not…

Product and Service Innovation

Product innovation is the introduction of either a new product or an existing product with significant improvements related to its characteristics. Improvements could be in various specifications and areas such as technical, technological, physical use, software updates, overall size and texture, and so on. For instance, consider the Apple Watch; they release different series every year with significant updates and improvements such as using cellular technology, monitoring your heart rate, acting as your fitness partner, measuring blood oxygen level, and so on. We see the addition of features in every series, and these improvements make them a different product altogether.