Advertisements
Advertisements
Question
Explain the following term/concept.
Product
Advertisements
Solution
Product refers to the goods or services that are offered to the customers for sale and are capable of satisfying the need of the customer. The product can be intangible or tangible, as it can be in the form of services or goods. The business needs to decide the right type of product through extensive market research. The success of the business depends on the impact of the product in the minds of the customer.
APPEARS IN
RELATED QUESTIONS
Explain 3Ps in the marketing of services.
Which of the following is a factor of marketing mix?
The collection of utilities is known as:
Marketing mix does not include ____________.
Harshit is planning a start-up venture for offering mobile pet care services at the door step. He has decided to charge 1000 for a heated hydrobath and blow dry of a pet and 500 for shampoo and conditioning. Identify the elements of the marketing mix which is not being described in the above case.
Under which of the following situations is a company not likely to fix a lower price for its product?
Define the marketing mix.
Marketing uses ______.
|
CASE STUDY Tata Motors-owned Jaguar Land Rover on Friday reported a 4.9 per cent declinein retail sales at 88,121 units in the second quarter ended on September 30, 2020. The company had posted retail sales of 92,710 units in the same quarter previous fiscal year, Sales of the Jaguar brand were at 17,340 units in the second quarter as against 19248 units in the year-ago period, down 9.9 per cent. Similarly, sales of Land Rover brand were down 3.63 per cent at 70,781 units as compared to 73,462 units in the same quarter a year ago. While there was improvement in sales in the second quarter, it remained constrained by semiconductor shortages, the company said in a statement. “The company continues to see strong demand for its products, with global retail orders again setting new records in the quarter,” it said adding, as on September 30, 2022, the total order book has grown to 2.05 lakh units, up around 5,000 orders from June 30, 2022. Demand for the new Range Rover, new Range Rover Sport and Defender remained strong, accounting for over 1.45 lakh of the 2.05 lakh orders, it added. |
With reference to above case study, answer the following questions:
- Explain the advantages of training Tata motor employees.
- Analyse and advise on any two suitable promotional mix for Tata motors.
- In the context of above case study, Analyze any five advantages of advertising to manufacturers.
______ denotes the money value of a product or service. It is the amount of money seller is asking for the product or service he offers for sale or the amount which buyers are to pay for it.
Marketing mix for products consists of ______.
The term marketing mix refers to ______.
What is place mix?
Define the term ‘marketing mix’.
An appropriate marketing mix is necessary to enable an enterprise to meet its goals. Elaborate.
Which of the following best describes the Product element of the marketing mix?
What does the Price element of the marketing mix refer to?
What is the primary purpose of the Promotion element in the marketing mix?
Which tools are included in the Promotion element of the marketing mix?
Which sub-elements are included under the Price element of the marketing mix?
