GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Product Line (Depth, Extension & Contraction)
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Branding
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Packaging
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Product Modification
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Repositioning
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Detailed explanation-1: -In a general scenario, we’ve got five main factors that determine consumer behavior, i.e these factors regulate if a target customer purchases a product or not. These factors are namely Psychological, Social, Cultural, Personal, and Economic factors.
Detailed explanation-2: -Product adaptation refers to modifying the company’s existing product in a way that makes it fit better with local needs, as Nokia did by making its mobile phones for India dust-resistant.
Detailed explanation-3: -Product Mission and Vision. A product vision is the big-picture “why” of your company. Business Goals. A product strategy works toward long-term business goals (emphasis on “long-term”). Market Landscape. Product Analytics. Customer Insights. 30-Jul-2020
Detailed explanation-4: -Gather raw data from customers. Interpret the data in terms of customer needs. Organize the needs. Reflect on the Process.