Various differentiation methods can be used to distinguish essentially identical products so they will be regarded and accepted as separate products by the target market (Makhitha & Cant, 2016:57). Discuss differentiation strategy in the context of any business which implements this strategy.
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Various differentiation methods can be used to distinguish essentially identical products so they
will be regarded and accepted as separate products by the target market (Makhitha & Cant,
2016:57). Discuss differentiation strategy in the context of any business which implements this
strategy.
Step by step
Solved in 3 steps
- The manager must first determine the type of relationship that exists among the various products in a line,Explain with an example?Which of the following statements is NOT true about the product life cycle?Single choice. a. In general, competition tends to move toward pure competition. b. Each stage may have a different target market. c. As industry sales rise, industry profits also rise. d. Industry profits start to decrease in market growth.The evolution of brands can be tracked with the use of the Greiner’s model. With the aid of a diagram, explain how brands will go through several stages and crises and need to resolve these crises to continue growing.
- Product Differentiation Give examples for Product Differentiation of: Financial Perspective Customer Perspective Internal-Business-Process Perspective and Learning and Growth PerspectivePick a favorite product (it must be a thing, like a flux capacitor, not a food item). Discuss the enhanced product, the core product, and the essential benefit of the product. Explain each factor in detail. Using this same favorite product , differentiate the product from that of a competing product. Address the features, performance quality, conformance quality, durability, reliability, and repairability of favorite product from that of a competing product. Explain the basis of findings.What are the characteristics of a successful product differentiation strategy?
- Brand equity is a marketing term that describes a brand’s value. That value is determined by consumer perception of and experiences with the brand. If people think highly of a brand, it has positive brand equity. When a brand consistently under-delivers and disappoints to the point where people recommend that others avoid it, it has negative brand equity.Explain the brand asset valuator model andBrand Resonance model of brand equity to build a strong brand?ABC Company has just added additional products to their current product line to compete more broadly in their industry. This action is commonly referred to as which of the following? Question 1 options: a) Product line extension b) Product repositioning c) Product adaptation d) Product modificationFor a marketing project, I am working on manufacturing and selling product (Ramen). I must write about ‘PRICE’ for the product we make. Following are the details which I should include. I have required a detailed explanation about how price affects and the changes based on the following information. (Include all information together and a long explanation) Our product is a premium grocery item, and we want to be perceived as a high-quality brand. The price for a single serving is $6.99 Price for 4 servings - 17.99 (Above market price) Pricing approach Odd-even pricing will be used. And it always must be above market price. Adjustments: Quantity Discounts – For retailers when we have some kits that are about to expire. Trade Discounts (Wholesalers and Retailers) Promotional Allowances to reduce price of the product to retailers so that they include it in their catalogs, and we sell more overall) And will the price change over time? If so, how? (Since it is ramen, It doesn’t…
- Costing systems attempt to explain how products consume resources but do not indicate the joint benefits of having multiple products.”Required:Citing examples of at least two costing systems,a. Explain the statement above.b. Explain how the addition of a new product to the product range may affect the cost of existing productsc. Outline the consequences, in terms of profitability, of decision to increase/decrease the product range.d. Identify six costing systems.Brand equity is a marketing term that describes a brand’s value. That value is determined by consumer perception of and experiences with the brand. If people think highly of a brand, it has positive brand equity. When a brand consistently under-delivers and disappoints to the point where people recommend that others avoid it, it has negative brand equity. Use the BRANDZ Model to explain the brand equity of Shan foods.