Marketers Respond to Charges of Planned Obsolescence with the Following

question 126

Essay

Marketers respond to charges of planned obsolescence with the following:
Consumers lead change and innovation.
The product sells itself.
The product will eventually wear out anyway.
For most technical products, customers want the latest innovations, even if the older model still works.
Companies do not want to lose their brands.

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Definitions:

Desired Return

The profit or return that an investor or company aims to achieve on an investment or project.

Investment

The dedication of assets to achieve an increase in value over time, including purchases of securities, real estate, and other items with the expectation of generating future income or profit.

Target Costing

A pricing strategy where a product's selling price is determined first based on market conditions, and then the goal is to meet or come under this price through cost control and design efficiencies.

Minimum Return

The lowest acceptable rate of return on an investment that a person or company would consider worthwhile.