BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
The process of deciding how to get goods into customers hand
|
|
|
Dictate how much to charge for goods and services.
|
|
|
Obtaining developing, maintaining, and improving a product.
|
Detailed explanation-1: -Product/service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to. market opportunities. A tangible, or physical, item and the customer benefits that it offers is known as a(n) good.
Detailed explanation-2: -Product service management (sometimes product/service management) is the process of shaping a company’s offerings in response to demand stemming from market fluctuations. A product service manager (PSM) anticipates customer needs and then guides product development to meet them.
Detailed explanation-3: -What are Products and Services? A product is a tangible item that is put on the market for acquisition, attention, or consumption, while a service is an intangible item, which arises from the output of one or more individuals.
Detailed explanation-4: -Definition: A product is the item offered for sale. A product can be a service or an item. It can be physical or in virtual or cyber form. Every product is made at a cost and each is sold at a price. The price that can be charged depends on the market, the quality, the marketing and the segment that is targeted.
Detailed explanation-5: -Product development–also called new product management–is a series of steps that includes the conceptualization, design, development and marketing of newly created or newly rebranded goods or services. Product development includes a product’s entire journey–from the initial idea to after its market release.