A marketer\'s product strategy focuses on a products benefits symbolic attribute
ID: 2462114 • Letter: A
Question
A marketer's product strategy focuses on a products benefits symbolic attributes physical characteristics Olivia owns a store that prepares gourmet chocolates, which are hand-made and sold on the premises. What type of product is Olivia selling? Accessory Specialty Shopping Convenience. Coke, Diet Coke, Cherry Coke, Coke Zero, and Coke with Lime conditions Coca Cola's of soft drinks. Product mix product life cycle product cluster product line Customers who choose one brand over another are displaying brand awareness brand recognition brand preference brand comprehension Your company increased the price of a products by S1.00 per unit. Customers seem willing to pay the extra dollar and sales volumes have not changed. Is this considered an elastic demand and why?Explanation / Answer
23) answer is (C) i.e Service attributes
product and service attributes is Main Focus of Marketer's Product Strategy
24) answer is (B) Specialty Product
25) answer is (a) Product mix
Product mix includes product line, packaging, and brand development. The Coca-Cola Company offers Coca-Cola Classic,Diet Coke, Caffeine-Free Diet Coke, Coke Zero with no carbohydrates, and varieties ofCoke with added flavorings, such as vanilla, lime, lemon, and cherry.
26) answer is (C) brand prefrence
One of the indicators of the strength of a brand in the hearts and minds of customers, brand preference represents which brands are preferred under assumptions of equality in price and availability.
27) This is inelastic Demand .. as in elasticity when price of product increased then demand would decrease but this is not happen in this case so it is a case of inelastic
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