18. What are the main reasons that may hinder success of new products on the market?

Producer’s criteria for new products:

• There must be adequate market demand;

• The product must satisfy key financial criteria;

• The product must be compatible with environmental standards;

• The product must fit into the company’s present marketing structure.

Middleman’s Criteria for new products:

• The middleman must have a good working relationship with producer;

• The producer and middleman must have compatible distribution policies and practices;

• The product must satisfy key financial criteria.

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19. Compare the marketing of consumer and business goods.

Consumer product are intended for personal consumption by households.

Business products are intended for resale, for use in producing other products or providing services in an organization.

Classification of Consumer goods:

Convenience goods are a tangible product that the consumer feels comfortable purchasing without gathering additional information and then actually buys with a minimum of efforts.

Shopping goods are a tangible product for which a consumer wants to compare quality, price and perhaps style in several stores before making a purchase.

Specialty goods are a tangible product for which a consumer has a strong brand preference and is willing to expend substantial time and effort in locating the desired brand is called specialty good. The consumer is willing to forgo more accessible substitutes search for and purchase the desired brand.

Unsought good is a new product that the consumer is not yet aware of or a product that the consumer aware of but does not want right now.

Classification of business goods:

Raw materials are the business goods that become part of another tangible product prior to being processed in any way .

Raw materials include:

• Goods found in their natural state, such as minerals, land, and product of the forests and the sea (limited);

• Agricultural products , such as cotton, fruits, livestock, and animal products including eggs and raw milk.

Fabricating materials and parts are the business goods that become part of the finished product after having been processed to some extent fit into the category of fabricating materials and parts.

• Fabricating materials undergo further processing; examples include pig, iron going into still, yarn being woven into cloth, and flour becoming part of bread.

• Fabricating parts are assembled with no further change in form; they include such products as zippers in clothing and semiconductor chip in computers.

Installations are manufactured products that are an organization’s major, expensive and long-lived equipment. (dust furnaces still mill ).

20. Explain the features of business and non-profit marketing

Today marketing becomes a kind of philosophy of today's society, acquiring new forms, known as marketing models, which tend to describe an integrated system designed to solve certain problems.

Depending on the goal-setting marketing:

Business- is carried out by organizations and individuals working to achieve commercial success.

Non-profit – is carried out by organizations and individuals working in the public interest or another idea and not seeking to obtain financial gain.

The main differences between non-profit and business marketing