Explain in details why firms must introduce new products and how they go about it.

Q: Five practical reasons why the the ultimate concrete product should segment their market

A: Marketers always focus on the selling of unique products to be diverse among their competitors when…

Q: Explain how firms obtain new products and why it is an important process for companies and…

A: Obtaining new product refers to New Product Development which is introducing a new product into the…

Q: what is the process for creating new products

A: Obtaining new product refers to New Product Development which is creating and introducing a new…

Q: Discuss the importance of brand, and why it is important for both customers and business firm?

A: Marketing performs all activities which is required to contribute into product awareness and…

Q: Explain why product extension and refinement are important.

A: Product extension is the strategy of introducing new items in the same product category under the…

Q: Why must firms introduce new products?

A: New products and services are the foundation of any organization. Most organizations have growth…

Q: 1) Describe how research and development leads to new products.

A: In both the government and business worlds and the public and private industry, the term R&D is…

Q: Based on the product life cycle concept, discuss the marketing strategies for the newly brand…

A: The product life cycle is the process through which a product goes from the time it is initially…

Q: Explain the importance of the product life cycle concept in marketing. Name and explain each of its…

A: Product life cycle refers to marketing concept which explains that every product that exists in the…

Q: Explain how product life-cycle strategies are summarised?

A: The product life cycle has four stages.  1.Introduction stage 2.Growth stage 3.Maturity stage…

Q: Describe the process of developing generic products and how it might alter the technology-driven…

A: The process of developing a generic product requires lot of research and analysis of the market and…

Q: Use Coca Cola's products to explain the different phases of the product life cycle.

A: Product life cycle is an important concept to identify the stage of the lifecycle of any product. It…

Q: how would such costs and benefits be different over the product life cycle"

A: The cost and benefits are different over the product life cycle as:

Q: Discuss and Understand the reasons behind success or failure of a new product?

A: When a new company enters the market as startup, they first thing they do is create a product or…

Q: Describe the process of Developing and Managing Products?

A: The process of developing and managing a product includes all the steps required to take it from…

Q: How Would You Describe Each Stage of the Product Lifecycle?

A: Introduction: Product life cycle is the total time that a product spent from getting introduced in…

Q: Where do ideas for new products come from?

A: The development of product is divided into two categories where development could be related to…

Q: How stages of the product life cycle relate to a firm’s marketing objectives and marketing mix…

A: Product life-cycle administration is the succession of policies by business management as a product…

Q: Describe the decisions companies make regarding their individual products and services, product…

A: Individual product or service decisions can refer to the decisions in the development and marketing…

Q: an

A: Giving you an example of the 3D television that are there in the market from few decades but it is…

Q: What is the relationship between branding, labeling, and packaging, and how should these be managed…

A: There are different marketing activities that are being done these days unlike selling. There is a…

Q: How does an organization’s product mix relate to its development of a product line? When should an…

A: The product mix and product line of the organization are closely related to each other. Many…

Q: How does branding benefit consumers and marketers?

A: When an organization creates a name, design or a symbol that can be recognized a belonging of that…

Q: What words would you use to describe each stage of the product lifecycle?

A: A product passes through various stages in it's life cycle since it's inception based on the market…

Q: Explain the importance of developing new products and describe the six categories of newproducts

A: New Product Development brings several challenges for the marketers. Two of them are: Market…

Q: How do brands help customers in product selection?

A: A particular brand is a name, symbol, design or any word which distinguish the product from the…

Q: Discuss how a new brand manufacturer would go about defining their market segment and then begin to…

A: Brand Manufacturer - These are those companies who are engaged in selling the entire product as its…

Q: Define Business products?

A: business product unit the product and services that people would like to buy to furnish their homes…

Q: how are products managed during the different stagesof the product life cycle?

A: The product life cycle refers to the period a product stays in the market. It defines the different…

Q: Why do new products fail

A: The  new  рrоduсt  оr  serviсe  dоes  nоt  fit  with  the  сustоmers'  рerсeрtiоns  оf  the  соre…

Q: What do you understand by the term 'product life cycle'? Illustrate your answer using an example of…

A: The product life cycle is the process that a product passes through from the time it is initially…

Q: familiar products and innovative products

A: Familiar product- Mostly consumer  prefer buying products from a brand they are preferring from last…

Q: How do you distinguish between a consumer productand a business product?

A: A product can be defined as any item which has the capacity to fulfill the needs of the customer or…

Q: Explain types of business products?

A: Business products are the goods and services needed in the process of creation of other goods and…

Q: Why do products have to be deleted from a product mix?

A: Product Mix refers to the total number of product lines that a company offers to its customers. In…