Explain How Marketers View a Product Under the Total Product

question 31

Essay

Explain how marketers view a product under the total product concept.Give examples.

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Definitions:

Commissions

Payments made to employees or agents based on the value of sales or similar transactions they facilitate or complete.

Gainsharing

A performance-based compensation strategy where employees receive bonuses based on improvements in the company's productivity, efficiency, or profitability.

Piece-rate Plans

A compensation system where employees are paid based on the quantity of work completed, rather than hours worked.

Gainsharing Plans

Performance-based compensation programs where savings or gains from increased productivity and cost-efficiency are shared with employees.