The _______ refers to the consumer's perception of the product as a bundle of values of utilitarian and symbolic values that satisfy functional, social, psychological, and other wants and needs

Solution 1

Correct Option Is Product Differentiation Strategy,

As It Refers To The Consumer’s Perception Of The Product As A Bundle Of Value Of Utilitarian And Symbolic Values That Satisfy Functional, Social, Psychological, And Other Wants And Needs.

Product Concept Means He Understanding Of The Dynamics Of The Product In Order To Showcase The Best Qualities And Maximum Features Of The Product.

The Marketing Mix Refers To The Set Of Actions, Or Tactics, That A Company Uses To Promote Its Brand Or Product In The Market. The 4ps Make Up A Typical Marketing Mix - Price, Product, Promotion And Place.

Product Life Cycle (Plc) Is The Cycle Through Which Every Product Goes Through From Introduction To Withdrawal Or Eventual Demise. ... In This Stage, Sales Take Off, The Market Knows Of The Product; Other Companies Are Attracted, Profits Begin To Come In And Market Shares Stabilize.

The Communications Mix Involves All The Tools You Use To Communicate With Your Customers Or Potential Customers. This Could Be Through Advertising, Social Media, Product Packaging, Direct Marketing, Websites, Events, Exhibitions – The List Goes On! Successful Campaigns Consider All Elements Of The Communications Mix.

Solution 2

Correct Option Is Product Element

As The Major Activites Of The Product Element Of A Marketing Mix Includes The Way The Goods And Services Is Designed And Classified , Positioned , Branded And Packed.

Utility Is A Term In Economics That Refers To The Total Satisfaction Received From Consuming A Good Or Service. ... The Economic Utility Of A Good Or Service Is Important To Understand, Because It Directly Influences The Demand, And Therefore Price, Of That Good Or Service.

Pricing Is One Of The Four Main Elements Of The Marketing Mix. Pricing Is The Only Revenue-generating Element In The Marketing Mix (The Other Three Elements Are Cost Centres—that Is, They Add To A Company's Cost). Pricing Is Strongly Linked To The Business Model.

Distribution Is The Process Of Making A Product Or Service Available For The Consumer Or Business User Who Needs It. This Can Be Done Directly By The Producer Or Service Provider, Or Using Indirect Channels With Distributors Or Intermediaries. ... The Overall Distribution Channel Should Add Value To The Consumer.

Growth Is The Process Of Designing And Conducting Experiments To Optimize And Improve The Results Of A Target Area.