Question

1. Read carefully the definition of the term product. Now, what is the basic goal of purchasing decisions? 2. Provide an example of tangible aspects of a product. 3. Provide an example of intangible aspects of a product. 4. Look closely at the consumer product categories. Provide a marketing example of each of the 4 categories cited in your text. Also, indicate why your example meets the definition of the category in question. 5. Define and provide a marketing example of each of the following terms: a. Product item b. Product line c. Product mix d. Product mix width e. Product mix depth f. Product line extension 6. After reading the material about brands, how do marketers attempt to encourage customer loyalty? Provide a marketing example.

Answer 1

Product :- The product is any item or service that is offered for sale in the market to earn profit by selling it. The product is manufactured by incurring cost. There is a fixed economic life or term life after which the product gets replaced.

The basic goals of purchasing decisions of the product is to fullfilling the requirements or neededness and the second goal is to incur low cost as much as possible and the next goal is to effectiveness in using the product As it is always said that the Simplicity always wins.

The tangible Aspects of the product are the Raw material used in manufacturing of the product second the material used for packaging

The Intangible Aspects of the product are the Cost of Goodwill in the product or we say various distribution expenses in the product all these leads to intangible aspects

There are four types of consumer product categories and that are covinience to use second one is for shoppping prefrences and the third one is due to speciality and the fourth is desireness

A marketing example of it is that we can purchase clothes for the convinience in living and then we try to buy best to best clothes dur to comparison basis and third we have clothes even we buy it due to shopping prefrence and the forth one is to create desireness

Product item ;- It means there is always a product item for which we have do marketing which is being offered for sale

Product Line :- It means diffrent types of product category under a single brand name in this case we needs to main focus or addvertise our brand

Product Mix :- It means the various products lines that are offered for sale in other terms we can also say it is a product assortment

Product mix width :- This means the number of the product lines in a single brand or product

Product mix depth:- The Product mix depth means the number of sub product that are offered for sale under a single product line

A Marketers can attempts to increase his customer royalty with the help of various ways such as making the brand awareness and show off the quality of his product better than all other ones and the third one is by providing various benefits such as various coupons and discounts allowed etc.

A marketing example is taking the company Hindustan Uniliver limites which has many product lines and various products under a single product line just like a soaps is a product line and various types of soaps are sub products aand they always giving advertisement in which they show their product better than all other ones