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What is AIDA technique?
AIDA is an acronym used in marketing when a person is selling a product or service. A- Awareness: To attract the attention of the customer. I - Interest: To raise customer interest by focusing on and demonstrating advantages and benefits of products/services D - Desire: To convince customers that they want and desire the product or service and that it will satisfy their needs. A - Action: To lead customers towards taking action and/or purchasing.
What is the difference between product and commodities?
In marketing, a product is anything that can be offered to a market that might satisfy a want or need. Like something PRODUCED. A transportable article of trade or commerce, especially an agricultural or mining product. Like rice, or wood.
5 reasons for merger?
Five reasons for a merger include Capital, satisfy customer needs, gain talented staff, new market opportunities and product development
The power of a good or service to satisfy a human need is called utility?
To satisfy human "wants" and not "needs"
Why is there such a wide variety of desired goods and services?
people have unlimited needs and wants, economics change over time, products are improved to satisfy consumers needs and wants because of the diversity of goods wanted this is why such a wide variety of goods is in the market.
What is product characteristics?
A product characteristic is an attribute or property of the product that describes the product's ability to satisfy its purpose in a larger system.
Differences between product market and generic market?
The generic product-market includes a broad group of products that satisfy a general, yet similar, need. The starting point in determining product-market boundaries is to identify the particular need or want that a group of products satisfy. Since people with a similar need may not satisfy the need in the same manner, generic product-markets are often heterogeneous, containing different end-user groups and several types of related products.The product-type product-market includes all brands of a particular product type. The product type is a product category or product classification that offers a specific set of benefits intended to satisfy a customer's need or want in a specific way. Differences in the products within a product-type product-market may exist, creating product-variants.
When can say that a certain product has value?
We can say that a certain product has a value when it is sold on Market and if many people demands on it. Products are produced to satisfy our needs and wants.
Why type of engineering turns ideas and concepts into a product intended to satisfy a specific need?
The type of engineering that turns ideas and concepts into products intended to satisfy specific needs is called product engineering. This field involves the design, development, and manufacturing of products, focusing on functionality, usability, and market demands. Product engineers collaborate across disciplines to ensure that the final product meets both technical specifications and consumer expectations. Their work often spans the entire product lifecycle, from initial conception to production and beyond.
How can firms satisfy a customers need?
Needs of the customers can be satisfied by delivering them the valuable products in terms of physical product and after sales services. these product and services must be provided after conducting research& development program.
How does a product get recall?
If your product poses an imminent threat of property damage or bodily injury, Products Recall Coverage should respond. It will respond to voluntary or involuntary (government or 3rd party-imposed) recalls that satisfy the policy trigger.
What type of engeneering turns ideas and concepts into a product ontended to satisfy a specific need?
The type of engineering that turns ideas and concepts into products intended to satisfy a specific need is called product engineering. This field involves the design, development, and testing of new products, ensuring they meet user requirements and market demands. Product engineers collaborate with various disciplines, including mechanical, electrical, and software engineering, to create functional and marketable solutions. Their work often encompasses the entire product lifecycle, from initial concept to production and beyond.
What type of engineering turns idea and concept into a product intended to satisfy a specific need?
Design is the type of engineering turns ideas and concepts into a product intended to satisfy a specific need.
What are the three key philosophies of total quality management?
The basic principles for the Total Quality Management (TQM) philosophy of doing business are to 1) satisfy the customer, 2) satisfy the supplier, and 3) continuously improve the business processes.
What products and services that satisfy the needs and wants of target customer?
maybe money can satisfy the consumers because they can buy what they want and their needs
What types of products can a consumer find on eBay?
eBay, an online auction house, has products that can satisfy anyone. Any product that anyone is looking for can be found on eBay because of the size of the entity and the amount of people that actively sell stuff within the online auction house.
What is market offering?
Marketing Offer - some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
