
To analyze: The effects of various marketing methods on a product.

Answer to Problem 22AA
Marketing is important as a product itself cannot go home to home and let the company earn profits, it is marketing which allows a company to spread information about their product. And helps their products to attract consumer.
Explanation of Solution
We have taken candy as an example to show how marketing methods affect a product.
Marketing Method | How effective would it be? Why? |
Redesign Packaging | A better packaging helps in attracting consumers. |
New uses for a product | Customers prefer those products which carry multiple uses to it as it satisfies their demands from a single product and they need not to spend money on different products. |
New advertising | Advertising helps in informing the customers about the products available in the market. |
Adding new ingredients | New ingredients would add to the flavor of the product thereby enabling the consumers to buy it more. |
Introduction: Marketing is an activity and procedure for creating, communicating information about products that have value for customers and society.
Chapter 11 Solutions
Economics Today and Tomorrow, Student Edition
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