Upper Iowa University Forecasted Income before Tax Questions

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avpbyr99

Business Finance

Description

Answer the two discussion questions below using the attached pages from the book ONLY! No other sources.

Additional to the answers ill need 8 replies.

1. What is a product? Describe the differences between convenience products, shopping products, specialty products, and unsought products. What is the difference between a product line and a product mix?

2. Describe each of the stages of the product development process. Discuss the choices that a marketer makes at each stage.

Describe the process in terms of a physical product that you are familiar with, or take the role of product manager for a company that manufacturers home lighting. You have been tasked with developing a line of table lamps that use LEDs

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Explanation & Answer

Attached.

Running Head: DISCUSSION QUESTIONS

Discussion Questions
Student’s Name
Institutional Affiliation

1

DISCUSSION QUESTIONS

2
What is a Product?

The book reading defines a product as anything or any time that can be traded
commercially to satisfy human wants. However, a product is a broad paradigm that involves both
tangible and intangible things. This implies that goods and services are all products. Examples of
products include Apple iPhones, Google services, and online investment options. However,
products are categorized in various ways. Convenience products are frequently purchased in
which little planning is conducted. These products are cheap, widely available and extensively
promoted. Secondly, shopping products are opposite to the convenience products as they are less
frequently purchases and involve considerable planning before a p...


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