Linda Evans has been given the task of developing the product element of her company's marketing mix. List the components that will likely be included in this element of the marketing mix
What will be an ideal response?
Product variety, quality, design, features, brand name, packaging, sizes, services, warranties, and returns are the key elements of the product portion of the marketing mix.
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Brown & Smith, Inc engages in the design, development, making, and retail selling of designer jewelry in North America
Before approving a new design, the company draws it on a computer and then produces models to show potential consumers and get their reactions. This allows the company to analyze the possible customer reaction. Identify the concept testing method used here. A) conjoint analysis B) perceptual mapping C) virtual reality testing D) rapid prototyping E) digital fabrication
Apart from retaining good customers, most marketers want to constantly increase their "share of customer." What does this mean in marketing terms?
A) Marketers want to increase their market share. B) Marketers want to increase the share they get of the customer's purchasing in their product categories. C) Marketers want to diversify their operations and customize their products to cater to the entire market. D) Marketers want to continuously increase their customers' levels of satisfaction. E) Marketers want to turn satisfied customers into delighted customers.
People buy expectations, not products, according to Ted Levitt, author of The Marketing Imagination
Indicate whether the statement is true or false
Plans for new product development generally fall within the scope of aggregate planning
Indicate whether the statement is true or false