BUSI 2208 Lecture Notes - Lecture 2: Requirement, Marketing Mix
Document Summary
With an understanding of the basic product mix and benefits, a company can now begin to make important product decisions. Design decisions: the basic decision here to identify how strong the design will be in the entire product mix. Will it be a supplement to the features or will the features be designed around a unique design. Quality decisions: the quality of the proud needs is kept with the other elements of the marketing mix. A high price can be charged if the product has superior quality. Here also, the company can charge a premium price for additional desirable benefits from features. Branding decisions: branding decision remain some of the most important as it turns a product into something beyond just a good. A brand can have the power to generate instant sales as well cement confidence in the product"s quality and reliability.
