Final questions- COURSE FIGHTER |

Business Finance – COURSEFIGHER.COM
Final questions- COURSE FIGHTER |

Instructions to students

Use of examples, flow charts, diagram provide better illustration of the answers (provided they are they are right ones) and helps in grading.

Please note:

  • Answers are based on you wrote and not what you “really meant” or “intended say.”
  • Quality and not quantity counts.
  • Use paragraphs and sub headings as required for better readability; it also helps in grading.

Chapter 9

Setting Product Strategy and Introducing New Offerings

  • Explain the five layers of the product described in the text book the marketer needs to understand to adequately serve the consumer?
  • Name and briefly describe the phases involved in the development of a new product. Provide a flow chart.
  • Explain the concepts of product-mix width, length, depth, and consistency.
  • Name and describe the five criteria for effective product adoption and diffusion?
  • Explain stages in consumers’ adoption of a new product.
  • You are planning to introduce a new version of Tablet with very advanced features not available till now.You are aware that as a new product this product will go thru the product life cycle stages. Describe the various stages product life cycle, customer segments to be targeted at different stages and the corresponding marketing mix used in each stage. Draw the product life cycle chart and briefly explain each step in the PLC. Provide examples. State how the marketing mix changes with product life cycle.

Chapter 10

Designing and Managing Services

  • Services marketing programs are impacted by four distinctive characteristics. Name and explain with examples.
  • Describe GAP model of service quality and the five gaps. Which is the most gap difficult to fill?
  • What is the intangibility of service? How might a package delivery service deal with the intangibility characteristic of services?
  • In the service sector, excellence requires three broad areas of marketing – explain this using service triangle model.

Chapter 11

Developing Pricing Strategies

  • What is price elasticity of demand? Why is it important to know the price elasticity of demand?
  • Companies bringing out a new product can choose between two broad strategies: a skimming price, and penetration pricing. Describe the differences between the two.What are some of the requirements for these pricing strategies to be effective?
  • Describe value pricing, cost plus pricing and competitive pricing methods. Sate the advantages and disadvantages of each method.