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- As a newly appointed CFO of a microfinance, you realize the products on offer are not viable and therefore you decide to overhaul the product development process and product pricing. Highlight the key aspects you will focus on to ensure products are viable.Is downsizing an unethical practice if manufacturers do not inform con- sumers that the package contents are less than they were previously?3 Describe the good/service you purchased, including the type of item, brand name, and price. Explain how the seller provided value to you through form, place, time, and possession utility. How might you improve this?
- What strategies can small-scale producers adopt to compete with corporations that have very large advertising budgets and brand loyalty?Describe "part-worth utility" and explain how it assists in Conjoint Analysis to create a variety of products. Why is profit maximization not the main goal for marketing professionals like you? What else in the business or product would you want to uphold to ensure its long- term welfare? Explain why.How likely is the sales manager will be successful in the short term in cut the price as strategy to stimulate interest and convince other business operators to buy products from our company?
- What are unsought products? Give an example of an unsoughtproduct, and explain how it might be marketed.Is it possible to market a product without identifying their market? If so, is it possible to identify the target market after a few months of operations? Explain and elaborate and give examples if possible with your discussion.Explain with the use of examples, why do some products experience long successful lives while others have very short life cycles?