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Review the concepts of goods, services, needs, wants,
Review the concepts of goods, services, needs, wants, stakeholders, and value proposition in your text. Then, pick a good or service you like?one that you believe has a strong value proposition. Perhaps you might choose your favorite snack food, vehicle, smart phone or watch. Put yourself in the position of being a Marketing Manager for a moment, and identify the specific sources of value (i.e. what benefits does that product or service offer that would satisfy the needs of a customer.)
- Describe at least two values offered by this product or service.
- What other sources of value might be developed for the product you identified? You can be creative with this response. Think outside the box and come up with a new value that you feel could be developed for your product.
- How might these values be communicated to customers? What methods would you use to communicate or promote the product and its value to a prospective customer and why?
This question was answered on: Feb 21, 2020
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