Tutorial Questions

Chapter 4: Product

1. Define product and identify the type of consumer product for the brands below (6 marks)
a) Bugatti
-Specialty
b) Prego pasta sauce
-Convinience
c) Ogawa Smart Reluxe Massage Chair
-Specialty
d) Sony Bravia 4K TV
-Shopping

2. You own a retail store concept like Uniqlo. After three (3) years, you decide to develop new
product. Explain what is your new product using the new product development process. (10 marks)
-My new product will be a tote bag.
Firstly for idea generation,I will collect information from the retail store’s staff and refer to customer’s
feedbacks to understand their needs for the tote bag.
Secondly,idea screening.We need to make sure the bag concept align with the brand style which is for
uniqlo is minimalism and functionality.
Next,business analysis. Calculate the costs of production, including materials, manufacturing, and
logistics.
For the development, Conduct internal testing on these prototypes for durability, functionality, and
overall quality to makesure they meet our standards.
Next,test marketing.I will launch a limited batch to get information from customer response then
change what needs to be changed.
Lastly for commercialization,promote to social media to get attention from all over the world

Chapter 5: Price
1. List 3 types of pricing objectives. (3 marks)
-Profit oriented,Sales-oriented and status quo
2. Explain with the aid of examples, the two (2) cost determinant of price. (6 marks)
The first cost determinant of price is markup pricing which is the most popular method used by
wholesalers and retailers to establish a selling price,does not directly analyze the costs of
production.The second one is Break-even pricing which is analysis that determines what sales volume
must be reached before the company breaks even and no profits are earned
3. Briefly explain four (4) factors that influence price. (8 marks)
-Competition
-Distribution Strategy
-Promotion strategy
-Perceived Quality
Submit in gc by 10am.