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Com 250 Final Exam University of Victoria Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution £6.31
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Com 250 Final Exam University of Victoria Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution
Com 250 Final Exam University of Victoria Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution
Com 250 Final Exam University of Victoria
What is a product? - ANS-tangible objects, services, events, persons, places,
organizations or ideas
what is a convince good - ANS-Gum, coffee, newspaper, etc
what is a shopping good - ANS-Ipad, Fridge, etc
What are specialty goods - ANS-lambo, Rolex watch
What are unsought goods? - ANS-coffin, organ/blood donation
What is a PRODUCT LIFESTYLE and what are its four stages? - ANS-the course of a
products sale and profits during its lifetime
1 introduction
2 growth
3 maturity
4 decline
profits are its greatest at its maturity stage
product life cycle each stages details - ANS-Introduction - slow sales, profits
non-existent, heavy expenses
Growth - rapid market acceptance and increasing profits
Maturity - slowdown in sales, profits level off or decline dealing with competition
Decline - sales fall off and profits drop
extended life of a profit - ANS-modifying the markets (creating new users)
modifying the product (change features, speed, food flavours)
modifying the market mix (three of the 4 P's - price change, new channel, promotions)
, things to consider when making a package for a product - ANS-its protects the product
(from damage, theft, tampering)
gives information on the product (shows what the product is or its use or flavour)
meets social concerns (eco packing)
provides promotion of the product (tool up the rim)
what is a product line
what is a product
what is a product mix - ANS-a variety of flavours (chips)
a oreo cookie
bought and owned by (ritz, oreo, triscuit)
what is a new product development strategy - ANS-new product
idea generation
idea screening
concept development/ testing
market strategy development
business analysis
product development
test marketing
commercialization
new product
(the whole in-between is RISK TIME COST)
the 4 p's - ANS-Product
Price
Place
Promotion
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