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Essay Available:
Pages:
1 page/≈275 words
Sources:
1 Source
Style:
APA
Subject:
Management
Type:
Coursework
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 5.83
Topic:

Product Strategy as Part of the Marketing Mix

Coursework Instructions:

Product strategy, as part of the marketing mix, should be driven by consumer needs. Consumers make purchase decisions based on perceived benefits. Sometimes translating desired benefits to product design, features, and overall product strategy can be challenging for marketers. Define the word "product" as it relates to business, specifically marketing. Discuss specific real-world examples of products that have been successful and products that have been unsuccessful. Cite your examples.

Coursework Sample Content Preview:

Product Strategy as Part of the Marketing Mix
Regarding business and marketing, a product refers to any physical or digital good, service, or commodity produced for sale. Any good being offered for sale is considered a product. When marketing a product, it is important to identify the target audience (Larkina, Ovcharenko & Tagaev, 2018). Such can help businesses determine what marketing will most effectively reach the target audience. If a product does not reach the right audience, it can fail to reach the company's intended profit level. When a product is poorly marketed can cause missed opportunities for the business.
A product can best be identified by its features, benefits, and packaging. These three factors are very important when determining how well a product will sell in the marketplace. How goods are packaged can make all the difference in whether or not a customer will purchase them. A package'...
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