BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -It’s important that brand managers focus on defining competition narrowly, as when we compute market shares. Product lines can be trimmed or supplemented depending on market opportunities, however the overall marketing mix should not be altered as this will confuse loyal customers.

Detailed explanation-2: -A brand manager is an individual who is responsible for developing and implementing the marketing plan for a single brand. A product category manager are individuals who are responsible for developing and implementing the marketing plan for all the brands and products within a product category.

Detailed explanation-3: -The total cost of ownership (TCO), then, is the total amount someone pays to own, use, and eventually dispose of a product. TCO is usually thought of as a concept businesses use to compare offerings. However, consumers also use the concept.

Detailed explanation-4: -Search qualities are the attributes that may be evaluated prior to purchase, as the customer learns about the competitive offerings. For example, when you go to a department store to purchase socks, you can just look at a pair and know before buying them whether you’ll like them.