Business Studies - 0450 CIE

Product:

Gbogbo ọrọ náà

The product is the first and most important part of the marketing mix: if it does not meet customers' needs, no amount of clever pricing or advertising will save it. From the idea on a drawing board to the day it is taken off the shelves, every product travels through a predictable life, and smart firms manage that journey.

In this lesson you will learn the value and risk of developing new products, the power of brand image and packaging, and the product life cycle with its extension strategies. You will be able to draw and read a life-cycle diagram and explain how each stage changes a firm's pricing and promotion decisions.

Ebumnobi

The limitations and benefits of developing new products
Brand image; impact on sales and customer loyalty
The role of packaging
The product life cycle: main stages and extension strategies; draw and interpret a product life cycle diagram
How stages of the product life cycle can influence marketing decisions, e.g. promotion and pricing decisions

Akọmọ Ojú-ẹkọ

Products do not sell forever; sales rise, peak and eventually fall. A firm that understands the life cycle knows when to invest, when to harvest profit and when to refresh or replace a product. The exam rewards you for drawing the cycle, reading it, and linking each stage to the right marketing decisions.

Ọ dị na ngwa Green Bridge

Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.

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Ọ dị na Android, Windows, macOS, na Linux

Ayẹwo Ẹkọ

Ekele diri gi maka imecha ihe karịrị na Product:. Ugbu a na ị na-enyochakwa isi echiche na echiche ndị dị mkpa, ọ bụ oge iji nwalee ihe ị ma. Ngwa a na-enye ụdị ajụjụ ọmụmụ dị iche iche emebere iji kwado nghọta gị wee nyere gị aka ịmata otú ị ghọtara ihe ndị a kụziri.

Ị ga-ahụ ngwakọta nke ụdị ajụjụ dị iche iche, gụnyere ajụjụ chọrọ ịhọrọ otu n’ime ọtụtụ azịza, ajụjụ chọrọ mkpirisi azịza, na ajụjụ ede ede. A na-arụpụta ajụjụ ọ bụla nke ọma iji nwalee akụkụ dị iche iche nke ihe ọmụma gị na nkà nke ịtụgharị uche.

Jiri akụkụ a nke nyocha ka ohere iji kụziere ihe ị matara banyere isiokwu ahụ ma chọpụta ebe ọ bụla ị nwere ike ịchọ ọmụmụ ihe ọzọ. Ekwela ka nsogbu ọ bụla ị na-eche ihu mee ka ị daa mba; kama, lee ha anya dị ka ohere maka ịzụlite onwe gị na imeziwanye.

The four stages of the product life cycle, in order, are: A. growth, introduction, decline, maturity B. introduction, growth, maturity, decline C. maturity, growth, introduction, decline D. introduction, maturity, growth, decline Answer: B
At which stage are sales of a product at their peak and levelling off? A. introduction B. growth C. maturity D. decline Answer: C
An action taken to prolong the maturity stage of a product is called: A. a launch strategy B. an extension strategy C. price skimming D. market research Answer: B
A strong brand image mainly helps a business by: A. lowering its production costs B. building customer loyalty and allowing higher prices C. removing the need for packaging D. ending the product life cycle Answer: B
Which is NOT a role of packaging? A. protecting the product B. giving information C. attracting customers D. setting the interest rate Answer: D