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A product is the complete package that the customer receives by purchasing the item/service. This experience is broken down into four levels. The first level being the core product that is the actual product feature and attributes, for example a car. The next level is the functional product that is how it performs; following the example, the speed of the car, the design of the car, etc. The third level is the augmented product which is additional perks to the product; such as GPS navigation systems for the car, a website that provides consumer with tips for keeping their car in top shape or extend the life, etc. Finally your question, the last level is the potential product which is the true solution that customers are seeking when they buy the product/service, which is the convenience or ability to get to places quickly and hassle free for the car.
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∙ 13y ago
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What is the difference between marketing potential and sales potentials?
Marketing Potential is the total amount of product customers will purchase in a specified period and Sales potential is the maximum percentage of market share a firm can expect for a product. In other words market potential is the total market value of your product and sales potential is the percent of the market your product can take over
How do you calculate market potential for a product?
# population x % awareness after one year x % who will actually try product x% availability from distribution channels = potential units
Meaning of product concept?
Product concept is the knowledge of a product and the act of being able to use the product to display its capabilities, potential and features to perspective buyers.
What is the degree to which the product offers utility to a potential customer?
Relevence
How can an entrepreneur seeking funds to launch a business convince potential leaders and investors that a market for the product or service really does exist?
Produce a survey result/response. And explain the potential need for the product.
Define potential product?
A potential product refers to what a product could have been or would be in future.
Is potential a noun or a verb?
Potential is a noun or an adjective; it is not a verb.Example used as a noun:The potential for our new product is unlimited.Example used as an adjective;The potential revenue from this product will please the stockholders.
What is the difference between marketing potential and sales potentials?
Marketing Potential is the total amount of product customers will purchase in a specified period and Sales potential is the maximum percentage of market share a firm can expect for a product. In other words market potential is the total market value of your product and sales potential is the percent of the market your product can take over
Definition of potential consumer?
A potential consumer is generally anyone who might buy a product or service. Any person who has access to the service or product and some means of paying for it could be a potential consumer.
What Potential purchaser of product is called?
client
How do you calculate market potential for a product?
# population x % awareness after one year x % who will actually try product x% availability from distribution channels = potential units
Meaning of product concept?
Product concept is the knowledge of a product and the act of being able to use the product to display its capabilities, potential and features to perspective buyers.
What is the degree to which the product offers utility to a potential customer?
Relevence
How can an entrepreneur seeking funds to launch a business convince potential leaders and investors that a market for the product or service really does exist?
Produce a survey result/response. And explain the potential need for the product.
Can an object have large voltage but a very low potential energy and why?
Yes. The potential energy in this case is the product of the voltage and the charge.
What is the different of marketing and advertisement?
Advertisement is communicating the existence of a product to the public and marketing is convincing a potential customer to buy a product.
What types of planning tactics would you recommend to effectively promote a product?
It depends on the product. However, promotion means getting the product seen by potential customers.
