Home › BBA Marketing › Marketing › Creating Products and Pricing Strategies › Creating a product strategy involves choosing wh…
Creating a product strategy involves choosing which set of items?
ASales targets, discount ladders, credit terms and taxes
BShipping routes, warehouse sites, fleet size and fuel
CMedia plans, ad budgets, celebrity faces and slogans
DBrand name, packaging, colors, warranty and service
Answer & Solution
Correct answer: D. Brand name, packaging, colors, warranty and service
1. Marketing strategy typically starts with the product, because price and distribution depend on it.
2. Product strategy means choosing a brand name, packaging, colors and a warranty.
3. It also means choosing accessories and a service program to go with the item.
4. Shipping routes belong to place, media plans to promotion and discount ladders to price.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.3 Developing a Marketing Mix_
Related questions
Big data and analytics are used to provide consumers with which two things?Big data refers to which of the following?Database marketing is sometimes given which other name?What does the information in a marketing database help managers do?One-to-one marketing means creating what?What are shopbots?How does online technology help sellers rather than buyers?What effect has the internet had on pricing power?