Q: What are unsought products? Give an example of an unsoughtproduct, and explain how it might be…
A: Direct selling is the popular and effective promotional method of the company. In this sales…
Q: What does it mean to commercialize a product?
A: The process of bringing new products or services to market is referred to as commercialization.…
Q: What are the risks associated with backdoor (individualist) buying and selling?Why is Procurement…
A: Backdoor buying and selling is practice of purchase between suppliers and customers that goes…
Q: How does Increasing cross-selling and up-selling rather than raising product prices beneficial
A: Upselling is the practice of persuading customers to purchase a higher-end, equivalent product,…
Q: What does a technical code of buying ethics serve?
A: The ethics of conduct is driven by morals and universal ideals. Ethics is seen as an important…
Q: What is the price at which the product is starting tobe perceived as expensive?
A: Pricing refers to setting a price for a product or service at which it will be sold in the market…
Q: What are the basic reasons that motivate a buyer to buy?
A: Consumers are the king of market. The needs and wants of the consumer are satisfied by…
Q: What are the alternatives?
A: In an organizational decision-making process, while collecting information, managers identify…
Q: What are the ways of arriving at the price of a product?
A: 1. Know the market: The company needs to find out what customers are looking for, also what the…
Q: Why should a marketer be aware of competitors’prices?
A: A person who is responsible for creating a connection between a consumer and the product is known as…
Q: What do switching costs mean when it comes to the threat of buyer power?
A: Switching cost is can be described as the the cost incurred by a customer to change the dealer for a…
Q: If you were a buyer for zulily, what data would you like to have about past vendor performance?
A: The information that the buyer would love to extract about the past vendor performance will be:…
Q: Why is it important to considerthe buyer’s sensitivity to pricewhen pricing products?
A: The degree to which consumers behave on being aware about the price of a product is known as the…
Q: What is algorithmic pricing?
A: Algorithmic pricing is the act of working out offers and offers for an exchanged item by means of a…
Q: Why setting prices for business products is different from setting prices for consumer products?
A: Prices are the monetary value side by the company on the products and services as a part of exchange…
Q: True or False the porter's five forces can help companies identify and address risks The greater…
A: Porter's Five Forces is a model that identifies and analyzes five competitive forces that shape…
Q: How can a seller organization influenceperceptions of a buyer organization?
A: Selling is a process that involves influencing the buying decision of one or more…
Q: “Undercosting a product increases the profit from the product and benefits the firm.” Do you…
A: Undercosting of the product may increase the profit of the product while evaluating profitability of…
Q: What is the effect of switching costs on the danger of buyer power?
A: The bargaining power of the buyer is a component of Porter's Five Forces analysis, it is the power…
Q: What are the potential risks if the marketing mix is not considered?
A: Risks are present everywhere. Some of the risks can be predicted and can be avoided. But some risks…
Q: What are some advantages and disadvantages of technological advances designed to facilitate…
A: Modern sellers have new tools and technologies to attract their buyers. These technological…
Q: the threat of buyer power, what is the impact of switching costs?
A: The switching price is the expenses concerned by purchasers shifting between competitive…
Q: What is the highest price at which the product wouldstill be perceived as a bargain?
A: Perceived value is the own perception of the customer related to a particular product or service,…
Q: How do switching costs impact the threat of buyer power?
A: Switching costs impact the threat of buyer power in various ways.
Q: What is a price? How does the price of a productdiffer from the cost of the product to the consumer?
A: Price is an element/component of the marketing mix. It is described as the amount of money need to…
Q: Are buyers of Cuties just “paying more for the name,” or is it due to the economic benefits…
A: Brand equity is the value attached to the brand which is more than the value attached to its…
Q: When presenting your ideas to a potential buyer, what are some ways to stand out and have them…
A: Making your product stand out from the crowd is an essential piece of marketing.
Q: What rights do consumers have, and why do some critics feel buyers need more protection?
A: Consumerism can be defined as a social force which was designed with an objective of protecting the…
Q: What Is Sellers’ and Buyers’ Rights?
A: Sellers are individuals or entities that are involved in exchanging goods and services in exchange…
Q: the influence of switching costs on the danger of buyer power?
A: The bargaining power of buyer is a part of porters 5 forces analysis, it is the power which buyer…
Q: Explains the bargaining power of buyers.
A: There are many factors in the environment which affect the functioning of an organization. These…
Q: How does a car salesperson practice price discrimination?
A: Price Discrimination refers to the charging of different prices by the salesman from customers for…
Q: Explain the term Buyers?
A: Buyers are the essence of the success of any business enterprise. Without customers or clients,…
Q: Price and value communication canhave an impact on purchase intent and willingness to pay. true or…
A: Marketing gives brief explanation of methods and channels used for making customers aware of the…
Q: Define BUYER–SELLER RELATIONSHIPS?
A: Keeping focus on the relationship between buyer and seller is significant for companies. Therefore…
Q: 1-8. What is the difference between ultimate consumers and organizational buyers?
A: The ultimate consumer is the individual or group who utilizes or consumes a product. The purchaser…
Q: What is the advantage of having the information on the products?
A: Information on the products refers to various kinds of knowledge related to a particular product.…
Q: Why is buyer-seller relations important to profits ?
A: Marketing refers to the process of persuading customers to buy the appropriate product or services…
Q: What is Deficient products?
A: In our daily lives, we buy different types of products to meet our diverse needs. In this way, one…
Q: What is certain demand?
A: Marketing examines the needs and wants that are prevailing in marketing. It calls for marketing…
Q: What price is so low that consumers would questionthe product’s quality?
A: Product quality refers to a product's capacity to meet client expectations and criteria by combining…
Q: What is meant by the disposition of productsand product packaging, and why does it…
A: Disposition of products can be defined as an act of getting rid of a product or the packaging of a…
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- E3 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 customer perception.Buyer Analysis: Product Nopal 1. Identify your target customer, Describe customer demographics, address customers' needs, and discuss how buying decisions are made. Note: For question 2 Remember that you are selling this business plan to venture capitalists to seek funding. All they care is about money and profit). So it would be wise to illustrate the followings in your explanation. 2. Your business objectives, and marketing plan with (Product, Price, Promotion, and Place/distribution) to accomplish the goals. The amount of money you are asking for, profit goals, and the estimated time to break even. Strongly sell your project to venture capitalists. Convince them that it will be a loss to them if they do not invest in you!Find words which mean the following. 1 a company's sales expressed as a percentage of the total market 2 short-term tactics designed to stimulate stronger sales of a product 3 the situation in which there is only one seller of a product 4 companies offering similar goods or services to the same set of customers 5 a short and easily memorized phrase used in advertising 6 the division of a market into submarkets according to the needs or buying habits of different groups of potential customers 7 a small and specific market segment 8 a factor which makes you superior to competitors in a certain respect 9 a business's total sales revenue 10 a period during which an economy is working below its potential
- Among the identified 7P’s of marketing, which do you think are the three most appropriate marketing mix in a sari-sari store business, and why? Justify your answer by citing examples.Q 1. How do consumer personal characteristics influence buying behaviour? Q 2. What major psychological processes influence consumer responses to the marketing program? Q 3. What buying situations do organizational buyers face Q 4. Who participates in the business-to-business buying processQ 1. How do marketers classify products? Q 2. How can companies combine products to create strong co-brands or ingredient brands? Q 3. How can companies use packaging, labelling, warranties, and guarantees as marketing tools?
- Choose a product, develop a marketing mix, competitve advantage, pricing, media strategy You will need to choose a product that you would like to market: Using the Internet, you will need to develop all of the following: 1: A marketing mix and a competitive advantage for the product 2: A consumer survey designed to help determine the marketing mix and competitive advantage 3: A product line with at least two additional products in your line 4: A pricing strategy, a price, and a rationale explaining the price of each of your products Remember to consider turnover, competition, and elasticity of demand in your strategy 5: A contingency plan in case your product does not sell at the initial price along with a rationale for your plan 6: A media strategy for marketing the product including an image and position to be developed, types of promotion to be used, and media to be used Remember to specify the advantages of the chosen media, frequency, and continuity to be usedQ5) What is "business mean? What is the difference between business and selling? give an example! Explanation it correctly and details1.Grocery chains such as Abdullah Al-Othaim Markets track consumers’ purchasing habits through store loyalty cards like Iktisab. These cards collect purchasing data and build consumer profiles. How can grocers like Abdullah Al-Othaim Markets use these data to create value for the firm and consumers? (Minimum 150 words) 2.Identify a specific brand of your choice from the local market that has developed a high level of brand equity. What specific aspects of that brand establish its brand equity? Critically examine based on the concepts discussed in Chapter-11. (Minimum 150 words) 3.Coupons and rebates benefit different distribution channel members. Which would you prefer if you were a manufacturer, a retailer, and a consumer and why? Explain based on the concepts discussed in Chapter-15. ) (Minimum 150 words) 4.Some argue that retailers can be eliminated from the distribution channel because they only add costs to the final product without creating any…
- Rivalry among competing sellers grows in intensity when A) rivals have similar strategies and buyer demand is growing rapidly. B) rivals' products/services are sold at widely varying prices and the number of rivals is fewer than 5. C) buyer demand is growing slowly and the industry is composed of several competitors that are fairly equal in size and competitive capability. D) the products/services of rivals are strongly differentiated and buyers have high switching costs. E) there are so many industry rivals that it is very hard to anticipate any one competitor's actions.Q2. How can B&D increase the probability that the consumer will buy its new small appliance products? What are the success-factors (activities) associated with effective marketing your group can think of. List & explain each. Pls Answer the Question from Below Context : Black and Decker, a noted marketer of products for the do-it-yourself market, acquired the General Electric Company’s small home appliancebusiness in 1985 for $300 million. B&D had enjoyed a 50 percent market share in the worldwide market for power tools, but the recession of the early 1980s and competition, especially from the Japanese, forced changes in manufacturing and marketing at B&D and led to the GE acquisition. Makita of Japan, for instance, which offered competitive power tools at a lower price, and in a very short time its market share was nearly equal to B&D’s. Alongside emerged a host of other emerging brandsB&D executives realized that the company could not stand still, and ride on…АСTIVITY: Think at least 3 products that you want to buy with different brands, quality, and price . Products brand quality price 1. 2. 3. Guide Questions: 1. How did you arrive in your decision to buy that particular product? 2. Do you think you have selected the best product that will satisfy your needs?
