According to the concept of the product life cycle

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Reference no: EM132265601

1. The consumer buying process begins when:

- they enter a store.

- physical needs become greater than psychological needs.

- performance risk is minimized.

- consumers recognize that they have an unsatisfied need.

2. Consumer goods classes (convenience, shopping, etc.) are based on the:

- characteristics of the product.

- importance of the product’s brand name.

- buying habits of consumers.

- age, income, and occupation of consumers.

3. The intangibility of the service means that:

- advertising or other forms of promotion are of little importance to the services marketer.

- unused capacity cannot be shifted from one time period to another.

- brandnames or trademarks can’t be used because they must refer to tangible goods in order to be effective.

- the value of a service may be based on a customer’s experience.

4. According to the concept of the product life cycle,:

- new products may pass through a life cycle stage quickly, virtually skipping it.

- products spend a predetermined amount of time in each stage of the life cycle; this time span is determined by the product category.

- most products require the same level of marketing throughout their life cycle.

- all products begin at the introductory stage and move through the life cycles stages at a steady rate

Reference no: EM132265601

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