MANAGEMENT

Detailed explanation-1: -What is the main reason why generic products can be sold at a reduced price? Less money is spent to promote them. They have less competition. They are available in more store locations.

Detailed explanation-2: -Identifying a target market allows marketers to focus on those most likely to purchase the product. Limiting the population funnels research and budgets to the customers with the highest profit potential.

Detailed explanation-3: -Product mix, also known as product assortment or product portfolio, refers to the complete set of products and/or services offered by a firm.

Detailed explanation-4: -A distribution channel, in simple terms, is the flow that a good or service follows from production or manufacturing to the final consumer/buyer. Distribution channels vary but typically include a producer, a wholesaler, a retailer, and the end buyer/consumer.

Detailed explanation-5: -The maturity stage is when the sales begin to level off from the rapid growth period. At this point, companies begin to reduce their prices so they can stay competitive amongst the growing competition.