Question

write a paragraph in your own word about 13.1 The importance of offering a product suitable for the intended

Answer 1

A product is manufactured to fulfil the needs and wants of the consumers and it creates value for them as these consumers form the intended market for the product. By creating value for them, a brand is established and positive value proposition among the consumers in the market is built. It pays benefits to the producer company as the list of returning customers increases and brand loyalty also grows. Such association between the firm and the intended market is only possible when the product on offer is capable to suit the requirements of the intended market. Hence, it is very important for the firm to develop a product that is based upon the suitability of the audience, rather focussed upon the imagination of the producers as marketing myopia.
Besides, the offering of the product that suits the intended market, build local acceptability in the quick time and firm can grow the business as well as consolidate the market share. Besides, the value based pricing can also be used by the firm if suitability as conformance to quality is the focus of product on offer. Therefore, It is important for the firm to offer the product that is suitable in terms of quality, price and other features to the market for that it is manufactured.