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Optical Business Management Inventory and Product Life Cycle - NAO ch. 2 sub 1 Questions And Answers With Verified Solutions | Latest Update 2025£8.14
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Optical Business Management Inventory and Product
Life Cycle - NAO ch. 2 sub 1 Questions And Answers
With Verified Solutions | Latest Update 2025
The reason "Product is King" is ______________________________________.
a. that products reflect your business personality.
b. that good products bring in the customers that you want to do business with.
c. products should be products that you personally like or you will not sell them.
d. without a good product, you will die a slow business death. - ANSWER d.
without a good product, you will die a slow business death.
Why is it important to understand the difference between generic and specific
product needs? - ANSWER Generic product needs are not going to provide the
motive for a customer to make a purchase. while people have generic needs, they
make purchases based upon how they will benefit.
Give 3 reasons why product mix is important. - ANSWER -The mix represents
everything that is needed or desired by your customer.
-It should be comprehensive and complete and reflect the customer base in your
area.
-The price points and products should reflect your position strategy.
What is meant by a product portfolio? - ANSWER Product lines within a
company represent brands that are a group of closely related products. For
example, a product portfolio could represent lines within a company portfolio
representing similarly related products but that appeal to different ages.
(ex. the frame board)
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