Business Essentials (11th Edition)
11th Edition
ISBN: 9780134129969
Author: Ronald J. Ebert, Ricky W. Griffin
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
Chapter 1, Problem 1.13A
Identify a product, either a good or a service, that will take advantage of this opportunity. Although you will refine this throughout the semester, write a four- to six-sentence description of your product and how it will spark buyer interest.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Choose an engineering product/services that you want to promote and create a short
paragraph of advertisement to convince the consumers that this product is worth to
invest
Provide an original example of a product or service to which you are brand loyal, meaning no other brand can be substituted. How long have you been using this particular brand? Explain the reasons for your brand loyalty.
Consider the four aspects of market segmentation, and describe how the company segments the market for this particular product or service.
Explain the gap model of customer satisfaction
Put yourself in the place of a seller of a product and explain how you would overcome each of these gaps. Use a real product.
Chapter 1 Solutions
Business Essentials (11th Edition)
Ch. 1 - Prob. 1.1QRCh. 1 - Prob. 1.2QRCh. 1 - Prob. 1.3QRCh. 1 - Prob. 1.4QRCh. 1 - Prob. 1.5QACh. 1 - Prob. 1.6QACh. 1 - Prob. 1.7QACh. 1 - Prob. 1.8QACh. 1 - Prob. 1.9AECh. 1 - Prob. 1.10AE
Ch. 1 - Prob. 1.11ACh. 1 - Prob. 1.12ACh. 1 - Identify a product, either a good or a service,...Ch. 1 - Prob. 1.14ACh. 1 - Prob. 1.15TECh. 1 - Prob. 1.16TECh. 1 - Prob. 1.17TECh. 1 - Prob. 1.18TECh. 1 - Prob. 1.19EECh. 1 - Prob. 1.20EECh. 1 - Prob. 1.21EECh. 1 - Prob. 1.23CCh. 1 - Prob. 1.24CCh. 1 - Prob. 1.25CCh. 1 - Prob. 1.26CCh. 1 - Prob. 1.27CCh. 1 - Prob. 1.28CCh. 1 - Prob. 1.29CCh. 1 - Prob. 1.30CCh. 1 - Prob. 1.31C
Additional Business Textbook Solutions
Find more solutions based on key concepts
The Warm and Toasty Heating Oil Company used to deliver heating oil by sending trucks that printed out a ticket...
Essentials of MIS (12th Edition)
What are some organizational issues that must be addressed when two large firms merge or grow rapidly like Amaz...
Principles of Management
The Warm and Toasty Heating Oil Company used to deliver heating oil by sending trucks that printed out a ticket...
Essentials of MIS (13th Edition)
Time period.
Gitman: Principl Manageri Finance_15 (15th Edition) (What's New in Finance)
What is a depreciation schedule?
Construction Accounting And Financial Management (4th Edition)
Discussion Questions 1. What characteristics of the product or manufacturing process would lead a company to us...
Managerial Accounting (4th Edition)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- Describe further the difference of Subway Fast food resto from the competition. Please also select an attribute important to the consumers (you are also a customer) and elaborate why you use this product or avail this service. Provide a particular target market and elaborate why they are the appropriate segment to target to. Explain well if what you think is the value proposition of your chosen product or service.arrow_forwardThe first step in implementing the marketing concept is to provide a product that satisfies customers; True or Falsearrow_forwardChoose a product for which you are interested in creating a marketing plan. It can be a product that already exists, or one you would like to launch. It must be a legal product. Specifically describe your product. The most important requirement for this assignment is that the reader has a clear understanding of your product, what it does for the consumer, and how it works or functions. Some information you should include is the name of your product. If you are choosing to create about a product you would like to launch, be sure to create a name for your product and try to be creative. Explain the features and benefits, making sure to differentiate between these two concepts. The “product” section is the most important of the four Ps of marketing: product, price, place, and promotion. Effectively completing this part of the project should set you up for success for the rest of the project.arrow_forward
- Write a sales letter to introduce new fancy soap and give attractive offers to your customer.arrow_forwardOn your own, develop a product that you think would sell on the consumer market today. It can be a new invention or an innovation to an existing item that does not currently exist. Identify some of the features of your product with respect to each type of utility (at least 2 per utility where applicable), including each of the major components of form utility. Depending on your product, some of the major types of form utility may not apply and that is perfectly fine. Be sure to indicate why they do not apply if that is the case. PRODUCT DESCRIPTION TYPE OF UTILITY PRODCUT/SERVICE FEATURES FORM MATERIAL SCENT FLAVOUR COLOUR DESIGN PACKAGING PLACE , INFORMATION, TIME , POSSESSIONarrow_forwardA heavy truck parts maker is able to tender on a pre-production study contract of a new type of truck ventilator unit worth $25,000 net profit if it wins the contract. Tendering costs would be about $2,000. The chances of winning the contract are 50 percent. If the company wins the contract, it must decide on the level of marketing it should make to increase its chances of getting further production contract worth $55,000 net profit. Promotion at a high level costs $18,000 with a resulting probability of winning the contract of 0.8. At medium level promotion, it costs $12,000 with a probability of 75 percent and at a low level, it costs $8,000 with a probability of 60 percent. Should the initial study contract be lost, the company can still bid on the production contract at an additional tender cost of $6,000. The probability of winning the production contract from this stage is 30 percent. a) Draw a decision tree to show the relationship between the various options which arise as the…arrow_forward
- Describe FOUR (4) options you might take if your customer believes your product did not fulfill their needs.arrow_forwardDoes the stand or belief of a company affect product sales? or do customers only care about pricing, brands, features, etc.arrow_forwardYour R&D department has slightly changed one of your company’s products. It is not really “new and improved,” but you know that putting this statement on the package and in advertising will increase sales. What would you do?arrow_forward
- What is a value proposition? discuss the five winning value propositions on which company might position its products? Give an example of eacharrow_forwardWhat is the best way to get new idea from a customer? What do you think the best method in generating new ideas? Give a concrete example of product mix in the market. How product packaging affects you as a consumer? Limit your answer to 200 words per question, but IN YOUR OWN WORDS.arrow_forwardIdentify a product important to you that you purchased where you felt that the seller had done a particularly good job of understanding your needs and helping you select and truly benefit from the purchase and use of the product. What were the aspects of design of the product and/or the whole product that you believed were at the heart of this very favorable experience?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
How to Create a Marketing Plan | Step-by-Step Guide; Author: Visme;https://www.youtube.com/watch?v=4ti_uK60nLk;License: Standard YouTube License, CC-BY
My Marketing Plan Process - 6 Steps to Marketing Any Business (Products or Services); Author: Neil Patel;https://www.youtube.com/watch?v=qn_Po40ZI2E;License: Standard YouTube License, CC-BY