Q: What unique value are we supposed to bring to customers?
A: Customer - An individual or business entity that makes a purchase transaction of a product or…
Q: How can companies adopt a holistic approach to managing new product development?
A: New product development is bringing a new product into the market with all the components that an…
Q: What are non manufactured goods?
A: NON-MANUFACTURED GOODS
Q: It is not necessarily true that all new products benefit consumers or society. What are some new…
A: New products launched in the society can be useful or harmful. It depends upon the way how consumers…
Q: Why do you think competing businesses endeavor to differentiate? How can external factors regulate…
A: Competition in business is the challenge or contention among the organizations selling comparative…
Q: How can observations and experiments help organizations develop new products and services that meet…
A: Forecasting is the process of making assumptions of future events based on past and present…
Q: Would current customers benefit from the product?
A: Business analysis is a test to evaluate a new-product idea, usually before any prototype has been…
Q: What is crowdsourcing?
A: Crowdsourcing is a sourcing method adapted by individuals or an organization to obtain input such as…
Q: How do companies use target markets to sell products?
A: The selection of the target market is the second stage in the marketing planning process. This step…
Q: What are some of the key components in whether a business operates B2B or B2C
A: The B2B business basically deals only with other businesses and does not deal with consumers. On the…
Q: What others think or how others perceive us will influence our choice of product or service.…
A: Customers behavior states the attitude and personality of customers that are seen when they make…
Q: In your own opinion, how does experience in availing a product or service could affect one's…
A: Customer experience is the amount of the multitude of associations that a customer has with an…
Q: Company performance will improve if they take competitor into consideration. Do you agree?
A: Competitors Competitors are all of the external organizations that can become a substitute for the…
Q: What are points of difference and why are they important?
A: There are different organizations and industries that are active these days. There are different…
Q: What is business process management? What role does it play in allowing a company to differentiate…
A: Management is a process of doing things with the help of others. It involved managing, forecasting,…
Q: Where should we produce or source our products?
A: Product Sourcing - It's the process by which a business succeeds in getting or achieving a product…
Q: What does adverse impact mean? and how might it apply to hospitality companies?
A: With respect to the decisions on business employment, an adverse impact refers to the inconsistency…
Q: What are the Advantages of Using IT in a Competitive Environment?
A: Information Technology (IT) is very crucial part of the environment. The changes in IT raises…
Q: Why is it important to observe consumers and customers to develop new products?
A: Consumer is an individual or organization that consumes or purchases products or services from the…
Q: Why is it important to actually observe consumers and customers to develop new products?
A: Forecasting is the process of making assumptions of future events based on past and present…
Q: Select an organization that you purchase products or services from and identify the organization’s…
A: A customer touch point refers to any kind of interaction customer is going to have with…
Q: Do you think providing the resources and opportunities has a huge impact to the marketing strategy…
A: Marketing strategy : It is a process of reaching potential customers and turning them in to…
Q: How can our customers influence each other?
A: Customers - Customers are those who are involved in the transactional activity against the sale and…
Q: What is a good? What are the differences betweentangible and intangible products?
A: Marketing refers to the activities performed to promote a product/service in a way that attracts…
Q: To what extent has the use of technology influenced product and service development?
A: The impact of technology on service strategy:
Q: How can the company differentiate its goods and/or services from those of its competitors?
A: The following is the response:
Q: Why is the way in which companies develop their products and services so important?
A: Companies develop new products to get growth and sustain in the markets for the long run. The…
Q: Describe what is a good ? What are the differences between tangible and intangible product?
A: Goods - Goods include merchandise, supplies, raw materials, and completed items. All commodities…
Q: What is the importance of customer experience to a business success?
A: Customers play a vital role for every organization as they help to drive revenues for the business,…
Q: Create a list of potential target markets of different companies whether it offer products or…
A: List of potential target market of different companies are explained below:
Q: How do consumer products differ from industrial products?
A: Products are offerings of the company for the customers in order to fulfill their needs. A product…
Q: How to build long-term relationship with your clients? /
A: To build and maintain long term relationships with the clients is very much important and essential…
Q: Why should owners of confectionery business develop their product and how should this be done?
A: Product development and marketing go hand-in-hand. Product development needs a marketing department…
Q: discuss in detail what are key success factors of a cosmetic business
A: Cosmetic business is related to manufacturing and selling of healthcare products, facial products,…
Q: What do you need to consider before engaging a company from a specialized industry?
A: A specialized industry is a market where the accounting procedures and financial reporting are…
Q: How will a company will market their product online when customers have so many other options and…
A: When customers have several options and the competition is tougher, the company will market its…
Q: What is a Design in business?
A: Business is buying or selling of products and services to satisfy human needs and requirements and…
Q: Will the new product cannibalize sales of existing products or will it increase revenues by reaching…
A: Market cannibalization is a loss in the sale of company's existing product by the introduction of a…
Q: How can companies learn more about their customers with different cultural backgrounds
A: The world is getting more modest. Countries and networks are turning out to be more different.…
What challenges does a company face in developing new products or services?
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- 1. What is the importance of products and services in your life? 2. How important are products and services in organization or business ?How can observations and experiments help organizations develop new products and services that meet customers' needs?How effective is the organization's branding and brand recognition?
- Select an organization that you purchase products or services from and identify the organization’s touch points. Are they effective? Can they be improved? If so, how?What technical benefits may a business experience by selling its products via Amazon rather than its own e-commerce website?What characteristics help companies gain competitive advantage in the marketplace?Does every company acquire a competitive advantage?