MKTG104 Product Management

Assignment No. 1_ Module 5 – Finals _01April2023

Answer in google docs the 30-point score- Assignment in Asynchronous Class.

After reading the posted Material for Module 5, you are given a Task as Assignment 1- Finals.

This Final period, time of submission will be strictly monitored.

Given the discussion in our materials and your individual reading, answer the following items:

Question No. 1. Enumerate and discuss the five stages involved on how consumer purchase a product or
service. (20 pts or 4 pts. each)

Problem recognition

Understanding the need for a service or product is the first stage in the decision-making process for
consumers. Whether motivated internally or externally, need recognition yields the same outcome: a
want.

Information search

Consumers once more rely on internal and external considerations, as well as previous contacts with a
product or brand, both favorable and unfavorable, while investigating their options. They may peruse
possibilities in person or check online sources like Google or customer reviews during the information
stage.

Alternatives evaluation

At this stage in the purchasing process, potential customers have established standards for what they
need from a product. They are now comparing their potential options to related alternatives.

Purchase decision

The consumer will recognize your product as the greatest choice and choose to buy it if you've done your
job well.

Post-purchase evaluation

Both the buyer and the seller must reflect throughout this phase of the purchasing process.
Question No. 2. What are the 4P’s of Marketing Mix? Discuss each. (20 pts or 5 pts. each)

Product: The business sells the product.

It could be a product from the apparel business or from the beverage sector, such as a soft drink or
garments.

Price: Simply said, price is the amount you charge for your product (or service).

Even if it's easy to grasp, it's really challenging to determine the "correct" pricing. the one that not only
generates the greatest volume of sales but also the greatest volume of revenue.

Place: Location can also be referred to as "place."

It's all about location, location, location, as they say in marketing. You must choose a location where your
clients are. Expecting them to come to you is unrealistic; you must go to them.

Promotion: It's time to promote your offer once you've optimized the previous three Ps of marketing.

To understand how the product satisfies the requirements or wishes of the public, the public must be
informed about the product and its attributes.

Stay Safe and God Bless!

DR. DONABEL A. ASUNCION

Professor