1. Think of a product that you ought to sell as an entrepreneur/ businessman in the future. Describe the product. 2. How much price do you ought to charge on your product? 3. What are your reasons for your price? Justify the price of your product based on the input cost, value of the product and

Read the following article. It discusses the critical marketing difference between features and benefits of a product. https://www.entrepreneurship.org/articles/2007/01/productservice-features-and-benefits 1. In your own words, describe the difference between a feature of a product and the benefit which a customer gets from a product. 2. Considering paint used by a homeowner: 1. Please describe 4 paint features you have found from looking at paint websites. 2. Please describe three benefits which are delivered by one of, or a combination of the features you described.

Create your own brand. State what product/ service you want to sell in the market and why you think this product would be purchased by the consumers. Who are your rivals and What different do you have to offer to the consumers? Now, choose 2-3 elements from the brand elements mix and state the reason why you choose them and how those elements would work for your company. (For eg: if you are choosing a brand logo, create a logo for your brand, if choosing a brand name, create a name for your brand, etc.?

Which of the following is/are generally accepted as (a) bad reason(s) for product extensions? Select one: a. Flanking price points of the current products b. Competitive parity c. Customer preference heterogeneity d. Creating branded variants