Advertisements
Advertisements
Question
Explain three features of goods, as an element of Product Mix.
Advertisements
Solution
- Goods are one of the elements of the marketing mix or program.
- Marketer can actualise its goals by producing, selling, improving and modifying the goods.
- Goods include tangible and non-tangible features or benefits.
- Goods are the medium to offer benefits and satisfaction to consumers.
APPEARS IN
RELATED QUESTIONS
Explain five factors that should be taken into consideration while determining the price of a product or service.
What is meant by a product?
Explain the term:
Labelling
Explain five factors that affect the pricing decision of a product.
Define the term ‘product mix’.
A product is best described as a ______ bought because it can satisfy a customer's need.
Which of the following correctly lists the three main types of benefits that customers seek from a product?
Products may broadly be classified into which two categories?
Since customers buy a product for the benefits it gives them, a marketer designing a new product should treat the product primarily as a means of ______.
A customer purchases an expensive motorcycle not because of its transportation capability, but because riding it earns them acceptance from their friend group. This purchase motive best exemplifies which type of benefit?
