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the products does not existing in market are the products cannot exist from the customers.
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∙ 11y ago
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What is the definition of market mapping?
A research method that identifies the key customer requirements in a market and how existing products are positioned in that market. Market mapping is an important way of identifying gaps in the market.
What is product line filling?
To add new products to a product line, e.g. if you have a shampoo, you'll add more different shampoos to the product line to increase the market share. This might include that your new product has minor enhancements compared to the existing products (including the products of you competitors). To add new products to a product line, e.g. if you have a shampoo, you'll add more different shampoos to the product line to increase the market share. This might include that your new product has minor enhancements compared to the existing products (including the products of you competitors). "Line filling is the type of product line extension to introduce new version of existing product in the market."
What do marketing researchers do?
Based on the interpretation of data collected in marketing research, market researchers make recommendations for enhancing or eliminating existing products as well as developing new products.
What do you mean by marketing research?
: the collection (collation and analysis) of data from existing and potential customers regarding market conditions for the products and services of a business.
What are differences between innovative and imitative products?
Innovative products are unique and original, offering new features or technologies not seen before. Imitative products, on the other hand, replicate existing products with little to no differentiation, often aiming to capitalize on the success of others. Innovative products typically drive market evolution, while imitative products may struggle to stand out in a crowded market.
What are existing products?
Products that exist today
Explain the nature and benefits of International Marketing?
Enhances the domestic competitiveness Takes advantage of international trade technology Increase sales and profits Extend sales potential of the existing products Maintain cost competitiveness in your domestic market Enhance potential for expansion of your business Gains a global market share Reduce dependence on existing markets Stabilize seasonal market fluctuations
State three ways in which a sports shoe retailer could use market research?
To predict future changesTo explain sales patterns of existing products and market trendsTo assess the most favoured designs, styles and promotions
Does marketing cause improvement in existing products?
No, marketing sells products as they have been made. Company research and customer feedback and fault fixing lead to improvement in existing products.
There is a wide variety of desired goods and services in a market system because?
There is a wide variety of desired goods and services in a market system because people can always make money by developing new and better products to compete with existing ones.
Product design just restyling of existing products?
NO
How do you prevent sweat shops from existing?
By not purchasing their products
