BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Setting discounts to clear products from inventory
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Determining where products will be offered for sale
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Focusing promotional activities on a new product’s release
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Eliminating products that are slow sellers
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Detailed explanation-1: -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-2: -the decision to drop a product (for example, in the decline stage of its life cycle) in order to use the costs associated with it to enhance profits or to release resources that could be more effectively used in other ways.
Detailed explanation-3: -What Are the 4 Ps of Marketing? Product, price, promotion, and place form the four Ps of the marketing mix. These are the key factors that are involved in introducing a product or service to the public.
Detailed explanation-4: -Managers may reposition the product by changing the marketing strategy. Or, they may decide to eliminate the product altogether. This is also known as product discontinuation. Weak prod-ucts are those with declining sales and profitability.