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Discuss How product mix strategies can be used to make product more effective in market? Explain answer with the help
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- How product mix strategies can be used to make product more effective in market? Elaborate your answer with the help of example.Select 4 products in various stages of the product life cycle. Note what stage of the life cycle that they are in and why you believe that they are in this stage. What are some marketing strategies that could be used to extend the product life cycle for that product or category?Explain what is meant by a hierarchy of needs and provide examples of one or more products that enable you to satisfy each of the four levels of need.
- What role does market basket analysis play in understanding product affinities and optimizing product offerings?What is the Product Thread? How does it applies to the current market Mix and productHow should the organization differentiate its products? What are the product’s features, advantages, and benefits? Assess the extent to which the brand’s current positioning aligns with the product’s points of differentiation.
- For Further Research (Individual) Select a company that has products under the same corporate brand name that includes products that represent a down- ward line stretch as well as products that represent an upward line stretch. Identify at least one product that fits within each category and identify what specific at- tributes separate each from the other.Cite one example of product or services and use the process of the 7 stages of new market development.Q: Choose a brand of your choice, outline the important macro- and microenvironmental factors that would need to be considered in trying to satisfy the needs and wants of its consumers in that market.