the marketing mix: product & product portfolios

Question 1

what is the purpose of most enterprises?

Answer 1

to sell goods and services

Question 2

what is the marketing mix?

Answer 2

is all the factors an enterprise must consider in order to sell its products successfully to its target customers

Question 3

what are the 4 P’s?

Answer 3

product
price
place
promotion

Question 4

product:
what does the product include?

Answer 4

the goods and the services that are being marketed

Question 5

product:
what does the product include all elements of?

Answer 5

that are being sold to customers

Question 6

product:
what must the product meet?

Answer 6

the needs of the customer

Question 7

product:
what may need to be different when targeting consumers when products is targeted at business markets?

Answer 7

equipments sold to gyms will usually have additional features to those sold for home use

Question 8

what does the product portfolio comprise?

Answer 8

all the products (goods and services) that are enterprise offers

Question 9

what may some enterprises concentrate on?

Answer 9

one type of product

Question 10

what may some enterprise offer?

Answer 10

a range of items for example, Old El Paso offer a range of Mexican food

Question 11

why does an enterprise require to consider many factors with its products?

Answer 11

to ensure they meet their aims

Question 12

what are the 5 factors to meet their aims?

Answer 12

1. how many products to make
2. which products to launch and when
3. when to withdraw a product
4. which products are currently doing well or badly and forecast which will do well or badly in the future
5. how to increase sales