Product

Question 1

What is the meaning of ‘Product’?

Answer 1

anything that has certain attributes or characteristics (be they tangible or intangible) a producer or manufacturer might offer in an exchange with customers, who believe (or can be brought to believe) they are of value to them.

Question 2

Give two examples of issues that should be considered during and after the creation of a product (2).

Answer 2

1. Will the product maintain its value over time?

2. How safe is the product? Might the product be offensive to some groups?

Question 3

What is the Value durability of a product?

Answer 3

the likelihood that a product will continue to maintain its value over time.

Question 4

Why might value durability not occur (2)?

Answer 4

1. Products are designed with current fashions in mind, and may consequently lose their value quite quickly  go out of fashion.
2. Products are made “cheaply” so that they break down more quickly than others.

Question 5

What safety risks may arise from designing and manufacturing a product?

Answer 5

. The materials of the product,
• Design,
• Production,
• Use,
• Product advertising,

Question 6

What is the traditional guideline for the marketers and consumers of a product?

Answer 6

marketer’s responsibility is to produce the products, but that it is the customer’s responsibility to ascertain whether, and to what extent, such a product may cause them harm.

Question 7

What problems do marketers face (3)?

Answer 7

Marketers face problems relating to energy consumption, use of scarce materials, availability of important products to those who are poor

Question 8

Is deception prohibited by legislation? Give an example of a deceptive product.

Answer 8

Yes in some countries (e.g. tobacco)

Question 9

When might marketing activity be criticised by the community, government and other concerned stakeholders?

Answer 9

When the promotion of legal but potentially harmful products, particularly when the company profits

Question 10

Why might there be a risk of buying products from the internet?

Answer 10

Substandard, hazardous products can be accessed well beyond their country of origin, even if they do not meet the standards of products produced within countries into which they may be imported

Question 11

What is planned obsolescence?

Answer 11

Planning or designing a product with an artificially limited usage life, so it will become unfashionable or no longer functional after a certain period of time