In one example French red apples, well boxed, are sold at 55 dinars per box, whilst not so attractive Iranian greens are sold for 28 dinars per box. In export the quality standards are set by the importer. In Africa, Maritim , found, generally, that there are no consistent standards for product quality and grading, making it difficult to do international trade regionally. The key question is, can we ensure continuity of supply?
The differences between products and services are based on different factors, including tangibility, perishability, variability, and heterogeneity. Taking these statistics into consideration, online marketing is a critical element of a complete marketing strategy. It is vital for marketers to use online tools such as social media and digital advertising, both on website and mobile device applications, and internet forums. Considering an appropriate distribution channel for products purchased online is also an important step.
It includes the key feature of a product. It forms the basis for other product offering levels. For example, the key feature of a car is to travel from one place to another. Therefore, a simple and small car with no additional features is a core product.
Customer perceptions about the core brand are adversely affected. Brand names seem too old-fashioned or familiar. The marketer on his own augments the product, by adding an extra facility or an extra feature to the product. To get a better understanding of how this works, consider this example. An investor approaches the shareholders of Company A whose stock shares are selling for $15 per share.
“Perceptions” of the product’s benefits may also dictate the design. A refrigerator in Africa is a very necessary and functional item, kept in the kitchen or the bar. In Mexico, the same item is a status symbol and, therefore, kept in the living room. The application the product is put to also affect the design. In the UK, railway engines were designed from the outset to be sophisticated because of the degree of competition, but in the US this was not the case.
The potential product is tomorrow’s product carrying with it all the improvements and finesse possible under the given technological, economic and marketers rely on three types of social media: social networking sites, thought-sharing sites, and competitive condition. There are no limits to the ‘potential product’. Only the technological and economic resources of the firm set the limit.
-brand awareness. -perceived value. -brand associations. In response to increased consumer demand for healthful beverages, companies like Coca-Cola and Pepsi introduced new product lines like fruit juice to _____ their product mix.