Business Essentials
11th Edition
ISBN: 9780134138282
Author: Ronald J. Ebert, Ricky W. Griffin
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
Chapter 1, Problem 1.13A
Identify a product, either a good or a service, that will take advantage of this opportunity. Although you will refine this throughout the semester, write a four- to six-sentence description of your product and how it will spark buyer interest.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Choose an engineering product/services that you want to promote and create a short
paragraph of advertisement to convince the consumers that this product is worth to
invest
You are required to develop a brief marketing plan for a fruit beverage (fruty blast) that you will launch in Saint Vincent.
Description of the Product: What exactly is the product? What are the features and how do these benefit consumers?
Target Market for the Product: Which group of consumers is the product targeted to?
Brief Overview of the Marketing Mix for the Product. This should be a concise description of how you will address product features, distribution, promotion, and pricing for the product.
Conclusion: What value does this product offer to consumers that makes it unique or superior to other similar products on the market, and that is it likely to make it successful?
Provide an original example of a product or service to which you are brand loyal, meaning no other brand can be substituted. How long have you been using this particular brand? Explain the reasons for your brand loyalty.
Consider the four aspects of market segmentation, and describe how the company segments the market for this particular product or service.
Chapter 1 Solutions
Business Essentials
Ch. 1 - Prob. 1.1QRCh. 1 - Prob. 1.2QRCh. 1 - Prob. 1.3QRCh. 1 - Prob. 1.4QRCh. 1 - Prob. 1.5QACh. 1 - Prob. 1.6QACh. 1 - Prob. 1.7QACh. 1 - Prob. 1.8QACh. 1 - Prob. 1.9AECh. 1 - Prob. 1.10AE
Ch. 1 - Prob. 1.11ACh. 1 - Prob. 1.12ACh. 1 - Identify a product, either a good or a service,...Ch. 1 - Prob. 1.14ACh. 1 - Prob. 1.15TECh. 1 - Prob. 1.16TECh. 1 - Prob. 1.17TECh. 1 - Prob. 1.18TECh. 1 - Prob. 1.19EECh. 1 - Prob. 1.20EECh. 1 - Prob. 1.21EECh. 1 - Prob. 1.23CCh. 1 - Prob. 1.24CCh. 1 - Prob. 1.25CCh. 1 - Prob. 1.26CCh. 1 - Prob. 1.27CCh. 1 - Prob. 1.28CCh. 1 - Prob. 1.29CCh. 1 - Prob. 1.30CCh. 1 - Prob. 1.31C
Additional Business Textbook Solutions
Find more solutions based on key concepts
The Warm and Toasty Heating Oil Company used to deliver heating oil by sending trucks that printed out a ticket...
Essentials of MIS (12th Edition)
What are some organizational issues that must be addressed when two large firms merge or grow rapidly like Amaz...
Principles of Management
The Warm and Toasty Heating Oil Company used to deliver heating oil by sending trucks that printed out a ticket...
Essentials of MIS (13th Edition)
Time period.
Gitman: Principl Manageri Finance_15 (15th Edition) (What's New in Finance)
What is a depreciation schedule?
Construction Accounting And Financial Management (4th Edition)
Discussion Questions 1. What characteristics of the product or manufacturing process would lead a company to us...
Managerial Accounting (4th Edition)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- Think about a product that failed. Why did this product fail to capture market share? What about the estimated market size, design, price, positioning, start-up costs, or the competitor led to its demise? Pick a product/service that another classmate hasn't discussed.arrow_forward1. Using your Creative Mind, conceptualize a new product or service. What is the purpose or use of your product or service? Does your product concept appeal to the senses and emotions? Does your product or service have aesthetic appeal? Will it elevate its intended consumers to a new level of self-actualization?arrow_forwardHow would an entrepreneur apply comfort with risk when developing a product or service?arrow_forward
- Which of these is not a good reason to generate new products? New products help you increase your share of the market New products increase your profitability New products serve the need for news for your marketing calendar (Incorrect) New products provide growth for your portfolioarrow_forward1) Would you purchase a hybrid food product that mixes plant-based meat with real animal products? Why/why not? 2) Propose a new food product that contains a mix of plant-based meat ingredients and real animal products Describe your product idea in detail. What is it? How is it eaten? What ingredients would your idea contain? Why do you think it would be popular?arrow_forwardAs a marketing consultant, a prospective business man has approach you to advise him on his intention of venturing into the market with a new product. 1. Illustrate to him the potential stages of the market his product needs to survive to be successful on the market.arrow_forward
- What is the meaning of the Business rule given below? Explain. "Find the opportunity first before coming up with a new product or service in the future"arrow_forwardmagine you are a consultant hired to advise the Board of Directors about an innovative development that can lead the company to either sell a new product or enter a new market for an existing product. The company is a chicken farm that exports eggs 1. give an overview of the new product idea or new market. There must be a rationale/justification for, the product/service/ new market, This must be clearly described and a unique value proposition should also be included here.arrow_forwardCreate a fictitious Business/Product idea and answer the following •You cannot use an existing Brand or Company. However the actual product/service offering does not have to be an innovation. For example, you can choose to create a branded bakery as a business. The business to have a product, therefore the business cannot be a service alone (for example, if you choose a car wash as a business, you must also sell related products).arrow_forward
- One of your friends is contemplating opening food cart near your campus. She seeks your advice about size of the prospective customer base and how to market the business according to the 7 Ps. What strategies can you share with your friend to assist in launching the business? Assume you are about to graduate. How would you apply marketing principles to your job search? In what ways would you be able to create, communicate, and deliver value as a potential employee, and what would that value be, exactly? How would you prove that you can deliver that value? What is the difference between a need and a want? How do marketers create wants? Provide examples. Explain how Apple employed the marketing concept in designing, promoting, and supplying the iPhone. Identify the key benefit(s) for consumers relative to comparable competitive offerings.arrow_forwardPrepare an essay comparing and contrasting a 4-P (price, product, place, and promotion) approach to marketing versus the value approach (creating, communicating, and delivering value). What would you expect to be the same and what would you expect to be different between two companies who apply one or the other approach?arrow_forwardExplain the gap model of customer satisfaction Put yourself in the place of a seller of a product and explain how you would overcome each of these gaps. Use a real product.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
How to Create a Marketing Plan | Step-by-Step Guide; Author: Visme;https://www.youtube.com/watch?v=4ti_uK60nLk;License: Standard YouTube License, CC-BY
My Marketing Plan Process - 6 Steps to Marketing Any Business (Products or Services); Author: Neil Patel;https://www.youtube.com/watch?v=qn_Po40ZI2E;License: Standard YouTube License, CC-BY