Mk411

11. Describe a product, and then give an example of a time when the demand for this product might be high and the demand for this product might be low. (2-4 sentences. 2.0 points)

In my opinion, the first P i.e. ‘Product’ is the most important component of the marketing mix. It is an instrument using which value is delivered to the customer. It is a ‘bundle of benefits’ that can be offered to and appreciated by a particular set of consumers. Products or services lie at the heart of a marketing strategy; they serve as means of differentiation for the company or a brand representative of a firm. If a customer purchases a product and it does not meet her expectations, then she

To attest that this exam was done on your own, without assistance from other persons, please print (equivalent to signing) your name here:

- Please put your name, student number, and professor’s name on the front of this exam

Product- A product is anything that can be offered to a market to satisfy a want or need, products include physical goods, services, experience, events, persons, places, properties organisations, information and ideas. It is therefore the combination of goods

1. Review the marketing definition of product. Why do you think marketers define product so broadly? How does the definition of product affect quality? I looked at the definition of product and it is very short and boring. I think it is defined this way because so many people have their own meaning of the term and how it works. I think it affects the quality a great deal. If the definition is not intriguing to viewers and customers it does not draw people in.

For a product of your choice, discuss the characteristics of each stage of the product lifecycle and explain the marketing strategy you would implement.

There are various ‘products’ some name it components or levels that constitute a product offered by a company. These can be described as core product, actual product, augmented product and potential product.

A product may be defined as everything, both favorable and unfavorable, that a person receives in an exchange.

The term "product" refers to tangible, physical products as well as services. A product is everything one receives in an exchange,

2. ___________ utility refers to the value or usefulness that comes from a customer being able to take possession of a product.

Anything that satisfies a consumer's need is called a 'product'. It may be a tangible product (clothes, crockery, cars, houses, gadgets) or an intangible service (banking, health care, hotel service, airline service). Irrespective of the kind of product, all products introduced into the market undergo a common life cycle. To understand what this product

1.Core product: “what the buyer is really buying?” (E.g. Charels Revson [Revlon] recognizes that: “In the factory we make cosmetics; in the store – we sell hope”). Product concept is the idea about benefits, not features.

Product – Product can be defined as the goods or services which is made to fulfil customer’s demands and needs. While making the product company should take care about its quality and features must be according to the customer’s needs to satisfy them.

Product: This is the most important thing in the mix, the physical product or the service that the entity is offering for sale to the public. Alpha ltd will need to market this to the customers by telling them the unique features and benefits the product has to offer as Alpha ltd did