which of the following activties do marketers use as a way to lower product costs?

Answer 1

There are several activities that marketers commonly use to lower product costs. Some of them include:

1. Economies of scale: Increasing production volume to benefit from lower unit costs and higher efficiency.
2. Strategic sourcing: Finding and negotiating with suppliers to obtain better prices, terms, and quality for the materials, components, and services required.
3. Value engineering: Analyzing and redesigning products to reduce costs without sacrificing functionality or quality.
4. Lean manufacturing: Implementing methods to eliminate waste, improve efficiency, and reduce production costs.
5. Material substitution: Replacing expensive raw materials with more cost-effective alternatives without compromising product quality.
6. Supply chain optimization: Enhancing logistics, inventory management, and transportation processes to minimize costs.
7. Outsourcing: Utilizing external resources, manufacturing facilities, or expert services to reduce production costs.
8. Cost sharing: Collaborating with other companies or strategic partners to share expenses related to production, marketing, and distribution.
9. Continuous improvement: Encouraging employees to identify and implement cost-saving ideas, streamlining processes, and increasing productivity.
10. Pricing strategies: Utilizing competitive pricing, promotional offers, discounts, or bundling strategies to stimulate sales and offset costs.