EMKT503 Unit 8 Product Decisions Subjective Questions with Answers

EMKT503 Unit 8 Subjective Questions with Answers - Product Decisions

Q. Explain Product Levels.

Answer: Product levels include core benefit, basic, expected, augmented and potential product. This concept helps marketers take better decisions related to customers, markets and strategy. In examination, explain it with meaning, features and example.

Q. Explain Product Mix.

Answer: Product mix is the complete set of product lines and items offered by a company. This concept helps marketers take better decisions related to customers, markets and strategy. In examination, explain it with meaning, features and example.

Q. Explain Branding.

Answer: Branding creates identity, trust, recognition and differentiation. This concept helps marketers take better decisions related to customers, markets and strategy. In examination, explain it with meaning, features and example.

Q. Why is Product Decisions important?

Answer: Product Decisions is important because it helps managers understand customers, competitors and strategic market decisions. It improves planning, implementation and customer satisfaction.