Marketing Strategy Chapter 6

1. Consider the number of product options available in the US consumer market. In virtually

every product category, consumers have many options to fulfill their needs. Are all these options really necessary? Is having this many choices a good thing for consumers? Why or why not? Is it a good thing for marketers and retailers that have to support and carry all of these product choices? Why or why not?

-When there are more options on the market in any product category competition occurs. Although we as consumers may not think we need so many options; having options is what allows us as consumers to be able to purchase products at reasonable prices. More competition in any product category forces manufacturers and retailers to offer the highest quality product at the best possible price. Therefore, consumers are able to search for and purchase the product that best suits them at the best possible price.

When there are less competitors, it makes it possible for a company to be a monopoly allowing them to charge higher prices. Therefore, I think it is necessary to have a variety of options because it gives consumers an advantage of being able to choose what is right for them since not all consumers have the same product preferences.

I think it is also a good thing for marketers and retailers to have to support and carry a broad variety of products. For marketers, more products allows them to attract a wide range of customers and market segments. For retailers, carrying a variety of products also allows them to appeal to and attract more customers.

2. Pricing strategy associated with services is typically more complex than the pricing of tangible goods. As a consumer, what pricing issues do you consider when purchasing services? How difficult is it to compare prices among competing services, or to determine the complete price of the service before purchase? What could service providers do to solve these issues?

-Because services are not a tangible...