Value The aim of marketing to is to create value. It does this in 2 ways‚ within the firm and outside the firm. Creating value within the firm At the Corporate/business unit level At this level‚ marketing creates value through corporate culture of customer first. This is then reinforced and measured so that it can transform from only values to action. It is measured by tools such as consumer research‚ customer visits and market orientation assessments. At the product level This is done
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Managing New Product Development New product development requires organizations to facilitate cooperation and coordination between department boundaries within the organization. To facilitate this cooperation and coordination‚ organizations form cross-functional new product development teams to lead and manage the development process for new products. There are several variations that these teams can be formed and managed. New product development teams can be structured into four types: functional
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Product * A good‚ idea‚ method‚ information‚ object or service created as a result of a process and serves a need or satisfies a want. It has a combination of tangible and intangible attributes (benefits‚ features‚ functions‚ uses) that a seller offers a buyer for purchase. The Product Concept * This orientation holds that consumers will favor those products that offer the most quality‚ performance‚ or innovative features. * A philosophy that a good product creates its own market‚
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CLASSIFICATIONS OF PRODUCT INTRODUCTION: The influx of wide ranges of consumable into the Nigerian market has provided a corresponding wide range of choice to the consumers. The competitive nature of the market place has therefore become a significant factor that producers can only ignore to their own peril. The purchasing power of the consumers is also affected by the economy of the Nation. It is as a result of the se factors that manufacturers must of necessity
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KENYATTA UNIVERSITY SCHOOL OF BUSINESS PROGRAMME: MBA COURSE: MARKETING MANAGEMENT COURSE CODE: BBA 504 LECTURER: ROSEMARY KOROS |No. |Name |Adm. No. |Signature | |1 |Kamande Micah Muchoki |D53/CTY/PT/20683/2010 |………………… | |2 |Ongwesa I. Valentine |D53/CTY/PT/21233/2010
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Compare the methods used to distribute two selected products and services In this report I will be comparing methods used by two different retailers on how they distribute two chosen products‚ of my choice‚ in two different retailing sectors. Seeing as the food and clothing sector both have very different styles of how they meet their product requirements‚ I will compare Tesco and JD; The products from these two companies itself that I’m going to compare is ‘Tesco Value Bread’ and Nike hoodies.
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Explain various levels of Product with examples? (10 Marks) For many a product is simply the tangible‚ phsysical entity that they may be buying or selling. You buy a new car and that’s the product - simple! Or maybe not. When you buy a car‚ is the product more complex than you first thought? In order to actively explore the nature of a product further‚ lets consider it as three different products - the COREproduct‚ the ACTUAL product‚ and finally the AUGMENTED product. These are known as the ’Three
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Product Product is the combination of goods and services the company offers to the target market. We know that McDonald’s is one of the top fast food franchises in the world and they offer variety of products for their customers in different country. McDonald’s emphasis on developing a menu that can satisfy their customer’s wants (2010). Marketing Mix McDonalds. McDonald’s product belongs to the convenience product group as their products area affordable and consumers buy their product frequently
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services marketing integrating customer focus across the firmChapter 01 Introduction to Services Multiple Choice Questions 1. (p. 4) In the simplest terms‚ _____ are deeds‚ processes and performances. A. Attributes B. Experiences C. Services D. Goods E. Benefits Difficulty: Easy 2. (p. 4) The maintenance contract offered by Sears on its Kenmore refrigerators‚ dishwashers and microwaves is an example of a(n) _______. A. Service B. Experience C. Attribute D. Good E. Benefit Difficulty:
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Every society and culture has different ways of interpreting and defining occurrences by the way their own culture or society functions. "A society ’s culture‚ consists of whatever it is one has to know or believe in order to operate in a manner acceptable to its members"(Geertz 242). The rituals‚ customs‚ ethics and morals that are attributed to the cultures have caused these differences. To understand how the people of one culture interpret a situation or event‚ one must evaluate the attributes
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