Ray conducted marketing information management by collecting information from customers to design the theater system seats. The activities involved in pricing were information management and marketing analysis. Finally, Ray shows the use of the channel management function because he carefully selected retailers.
Developing a new product and making sure the product is profitable is a complex process that involves multiple stages and strategies. Here are the most common ones:
- Marketing information management: This involves collecting information about the customers, marketing, etc. to make the best decisions. This can be seen in Ray because all the process from selecting the product to selling it is based on research.
- Product management: This involves proper designing, production, and advertising of a product. This is applied by Ray because he works thoroughly in every stage to make sure the product is successful.
- Pricing: This involves determining the best pricing for a product to guarantee the product is sold and the producer obtains money. Ray uses the information collected from potential customers to determine the best price.
- Channel management function: This involves carefully selecting the channels to sell or advertise a product. Ray applies this because he analyzes all elements in the marketing to select the retailers.
Learn more about marketing in: https://brainly.com/question/15611949
