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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Products Strategies The current strategy for KFC Malaysia of the product strategy varies; they have used many strategies in order to perform well in the market. Below are some of their current strategies. Value Their current value added of their product is collaboration with hotlink‚ that when customer receives a sms from hotlink‚ they can go redeem the product of discounted food from KFC Malaysia outlet. Another value added of their products is free gifts‚ drinks upgrade to bigger portion. Scope
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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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Product distribution (or place) is one of the four elements of the marketing mix. An organization or set of organizations (go-betweens) involved in the process of making a product or service available for use or consumption by a consumer or business user. The other three parts of the marketing mix are product‚ pricing‚ and promotion. The distribution channel Distribution is also a very important component of Logistics & Supply chain management. Distribution in supply chain management refers to
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Psychological testing - is a field characterized by the use of samples of behavior in order to assess psychological construct(s)‚ such as cognitive and emotional functioning‚ about a given individual. The technical term for the science behind psychological testing is psychometrics. By samples of behavior‚ one means observations of an individual performing tasks that have usually been prescribed beforehand‚ which often means scores on a test. These responses are often compiled into statistical tables
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to the workings of the human immune system. 8. The ELISA test can also be used to detect antibodies that are produced in response to a specific antigen. Using information about how you completed this ELISA experiment‚ outline a procedure for testing for antibodies in the blood. 9. Explain why in sudden outbreaks‚ it may be better to test for disease antigens rather than for antibodies. The antibodies are there to help and kill of the antigens‚ but don’t contain the whole DNA strand. The
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development to come up with new product ideas and new ways to keep older brands fresh and appealing. They must also be mindful of existing consumers who are loyal to certain products while trying to attract new customers. Companies use market research to identify changing trends in consumer demands and to identify new product opportunities. These new products involve financial risk‚ and further market research helps the business to decide whether the new product will provide a return on investment
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for the purpose of improving decision making related to the identification and solution of problems and opportunities in marketing.” - Malhotra (2003) Importance of Marketing Research Introducing new products into international markets Uncovering international opportunities for existing products Ensuring marketing decisions are made on the solid foundation of knowledge BLUNDERS IN MARKETING (1) A Japanese hotel notice board: “You are invited to take advantage of the chambermaid”; Acapulco
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Product Hierarchy Nomin Amarsaikhan /Mina/ 101183046 Marketing Management Dr. Wan-Tran‚ Huang 11 November‚ 2012 Business Administration department‚ Asia University The Product hierarchy is developed top down. The starting point‚ if haven’t already done so‚ is to map out every one of target customer’s shopping missions and define all of the purchase drivers for each mission. According to the “Marketing management” 12th edition‚ by Philip Kotler and Kevin Lane Keller “The product hierarchy
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Problems in the News Media Polls by USA Today found only 36 percent of Americans believe that news organizations get the facts straight. A surprising stat at quick glance‚ but turn on the evening news and ponder that stat again. It’s not just the news; it’s the news media in general. Whether it’s political agenda‚ greed‚ or for the pure sake of entertainment: the news media isn’t doing their job. The United States media is becoming like the rest of TV‚ purely entertaining‚ only focused on ratings
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