Mktg Again 3340 Final Exam Study Questions 2024.

Mktg Again 3340 Final Exam Study Questions 2024. 4 main classes of consumer products (Ch 10) and why it's important - correct answer 1 convenience (purchases frequently, conveniently, minimal effort) 2 shopping (compares alternatives on criteria like price and #) 3 specialties (makes special effort to search out and buy) 4 unsought (knows ab but does not initially want) important cuz the classification affects which products consumers buy and the mktg strategies used Difference between product line and product mix? (define each) - correct answer product line - group of product/service items that are closely related bc they satisfy a class of needs, are used together, sold to the same customer group, distribution thr uthe same outlets, or fall w/in agiven price range product mix - consists of all the product lines offered by an organization (portfolio) difference: product mix contains allll product lines What are some marketing reasons new products might fail? - correct answer marketing reasons: - insignificant point of difference - incomplete market and product protocol - not satisfying customer needs on a critical faactor - bad timing - no access to buyers (distribution issues aka) - poor execution of the marketing mix - too little market attractiveness (no real audience)