BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The company will make changes or upgrades to existing products to make it “new” again with customers who bought the 1st verison of the product as in the example of the iPhone
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The company will choose to delete or remove products from their product line when sales fall below a certain level because there is no demand for it.
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The company will develop new products to meet a need that has not yet been met or to compete with another company.
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Detailed explanation-1: -There are three core reasons why your product is not selling – the market research is inadequate, there is lack of awareness among the customers, or the product launch timing is poor.
Detailed explanation-2: -When deciding whether or not to discontinue a product, the decision should include the total costs, not just per-unit costs. You should review the fixed manufacturing costs, selling costs, transportation and storage costs, customer service costs and any other cost you can tie to the product.
Detailed explanation-3: -The four are introduction, growth, maturity, and then decline. Products and companies progress through these stages of development and the way that you know which stage they’re in is how much revenue they’re making over time.