Ch 11 and 12

Question 1

Product approach to selling a product

Answer 1

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

Question 2

Production approach to selling a product

Answer 2

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

Question 3

Sales approach to selling a product

Answer 3

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

Question 4

Marketing approach to selling a product

Answer 4

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

Question 5

Ansoff Market Penetration

Answer 5

Increasing sales of existing products in existing markets

Question 6

Ansoff market development

Answer 6

Selling existing products in new markets

Question 7

Ansoff product development

Answer 7

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

Question 8

Ansoff diversification

Answer 8

Predicting new products for new markets (more risk)