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MGT 103 Bates Final Questions and Answers $13.39   Add to cart

Exam (elaborations)

MGT 103 Bates Final Questions and Answers

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  • Course
  • MGT 103
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  • MGT 103

MGT 103 Bates Final Questions and Answers

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  • August 4, 2024
  • 65
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGT 103
  • MGT 103
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MGT 103 Bates Final
Questions and Answers

non durable goods


✓✓~ goods that last a short period of time - consumer and advertising




durable goods


✓✓~ things that last for a while - personal and selling




Convenience Products


✓✓~ Items that the consumer purchases frequently, conveniently, and

with a minimum of shopping effort




Shopping Products


✓✓~ Items for which the consumer compares several alternatives on

criteria such as price, quality, or style




Specialty Products

,✓✓~ Items that a consumer makes a special effort to search out and

buy




Unsought Products


✓✓~ Items that the consumer does not know about or knows about but

does not initially want




product class


✓✓~ the entire product category or industry (sneakers)




product form


✓✓~ different versions of the greater category (running shoes vs

climbing shoes)




Product line


✓✓~ subtle feature variations, different colors




product mix


✓✓~ all products that an organization sells

,SKU (stock Keeping units)


✓✓~ identification numbers of each item being purchased




New product


✓✓~ function differences, adding new features to existing products




the product concept


✓✓~




Positioning


✓✓~ The place that a brand occupies in the mind of its consumers

relative to competing brands




Reverse Positioning


✓✓~ When a firm positions itself in a way that runs counter to the

direction in which the rest of the market is moving; withhold attributes

that competitors consider necessary to compete




Continuous Innovation

, ✓✓~ No need to reeducate consumers

Easy transition for consumers once aware of the new features




Dynamically Continuous Innovation


✓✓~ Minor changes in consumer behavior needed

Marketers educate consumers on use and benefits




Discontinuous Innovation


✓✓~ Consumers must learn entirely new consumption patterns

Marketers must gain awareness from consumers

Marketers must educate about benefits and proper use of an innovative product

Most expensive type of product innovation from a marketer's perspective




Product line extension


✓✓~ adding additional products to an existing product line in order to

compete more broadly in the industry




jump in innovation


✓✓~ significant jump in innovation or technology

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