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A product decision refers to the choices made regarding the development, design, features, and marketing of a product. This encompasses determining what to produce, how to position it in the market, and identifying the target audience. Effective product decisions are crucial for meeting customer needs, achieving competitive advantage, and driving business success. Ultimately, these decisions shape the overall product strategy and influence its lifecycle.
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What is a extent decision?
A decision regarding how much or how many of a product to produce.
How do you calculate marginal utility and its impact on consumer decision-making?
Marginal utility is calculated by determining the change in satisfaction or benefit from consuming one additional unit of a good or service. It impacts consumer decision-making by influencing how much of a product a consumer is willing to buy based on the additional satisfaction gained from each unit. Consumers tend to purchase more of a product when the marginal utility is higher and less when it decreases.
How managerial economic tools such as marginal revenue marginal product marginal cost and marginal profit can be used to inform decision making?
basic economic tools in manaregial economics
What factors must a firm consider while addressing the make or Buy decision?
A firm must consider whether they will save money by having someone else produce their products. They must also consider the how much they will make producing another product instead of the product they will outsource.
What is the country of origin effect on consumer behavior?
The Country of Origin effect is a psychological factor that impacts consumers when they see where a product is made. Studies have shown consumers will take all of the factors they know about a place, such as their political leanings, to reach a decision about a product which has absolutely nothing to do with the politics of that country.
What is product-policy decision?
Product Policy plays a very significant and crucial role in the product establishment and its growth in the market.The marketer has to keep mind the product policy decision while introducing a product.It acts asa tool in the hands of the marketer.It involves the four majordecisions:1. Individual Product decision-It involves decisions related to product attribute, product branding, product packaging, productlabelingand productsupportservices.2. Product Line decision: It involves decision like ProductProductline stretching and Product Line filling.3. Product Mix Decision-It involves decision like Product mix width, Product mix length, Product depth, Product consistency.4. Product Positioning Decision.
What is product-decision policy?
Product Policy plays a very significant and crucial role in the product establishment and its growth in the market.The marketer has to keep mind the product policy decision while introducing a product.It acts asa tool in the hands of the marketer.It involves the four majordecisions:1. Individual Product decision-It involves decisions related to product attribute, product branding, product packaging, productlabelingand productsupportservices.2. Product Line decision: It involves decision like ProductProductline stretching and Product Line filling.3. Product Mix Decision-It involves decision like Product mix width, Product mix length, Product depth, Product consistency.4. Product Positioning Decision.
What is policy decision?
Product Policy plays a very significant and crucial role in the product establishment and its growth in the market.The marketer has to keep mind the product policy decision while introducing a product.It acts asa tool in the hands of the marketer.It involves the four majordecisions:1. Individual Product decision-It involves decisions related to product attribute, product branding, product packaging, productlabelingand productsupportservices.2. Product Line decision: It involves decision like ProductProductline stretching and Product Line filling.3. Product Mix Decision-It involves decision like Product mix width, Product mix length, Product depth, Product consistency.4. Product Positioning Decision.
What is production decisions?
Product Policy plays a very significant and crucial role in the product establishment and its growth in the market.The marketer has to keep mind the product policy decision while introducing a product.It acts asa tool in the hands of the marketer.It involves the four majordecisions:1. Individual Product decision-It involves decisions related to product attribute, product branding, product packaging, productlabelingand productsupportservices.2. Product Line decision: It involves decision like ProductProductline stretching and Product Line filling.3. Product Mix Decision-It involves decision like Product mix width, Product mix length, Product depth, Product consistency.4. Product Positioning Decision.
What is a extent decision?
A decision regarding how much or how many of a product to produce.
The three major subdivisions of the product decision are?
The three major subdivisions of the product decision are product design, product features, and product branding. Product design involves the aesthetics and functionality of the product, product features are the specific characteristics or functionalities the product offers, and product branding focuses on the image and perception of the product in the market.
What is a place decision?
finding out how to get your product to the consumers.
When you develop a new product based on the decision tree what are the reasons for developing the new product?
Haha
Which type of decision is deciding whether to introduce a new product line?
structured
What are the purposes of a product costing?
planing, cost controlling, directly and decision making.
What is a limited decision making product?
a product where the consumers are relatively indifferent to the product or service. marketing tools can sway their decisions on products such as sugar, bread, crisps etc
What is Discontinuation decision making in management accounting?
This is the decision made when a multi-production company stops the production of a product that shows loss. The decision helps accountants to control investment on unproductive ventures.
