Ch 11 and 12 Flashcards

1
Q

Product approach to selling a product

A

Produce goods or services that the company instinctively believe are right, and therefore it is assumes that the consumer will want to buy them

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Production approach to selling a product

A

Emphasis is on high volume production with low unit costs. Management pursue production and distribution efficiencies but there is little focus on customer needs
- can lead to low quality and excess being produced

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Sales approach to selling a product

A

A sales push is required through aggressive marketing, the sales team and sales manager are at the core of the business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Marketing approach to selling a product

A

Getting the right product to the right customer at the right place and the right time.
Identify customers needs and produce products that match them

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Ansoff Market Penetration

A

Increasing sales of existing products in existing markets

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Ansoff market development

A

Selling existing products in new markets

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Ansoff product development

A

Redesigning existing products or introducing new products for existing customers or markets

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Ansoff diversification

A

Predicting new products for new markets (more risk)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly