Chapter11: Product Concepts, Branding, And Packaging
Section: Chapter Questions
Problem 4DYMP
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Question
Explain the product concept?
Expert Solution
Step 1
Product is the offering of the firm which is sold to the target market to gain profit.
Product is a vital element of the marketing mix which is produced after identifying the needs of the customers to serve them and fulfill their requirements.
Product is tangible in nature which can be seen and touched, so marketers apply various product strategies to attract customers.
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