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COB 300 Marketing Exam 2 questions well answered to pass
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COB 300 Marketing Exam 2 questions well answered to pass
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COB 300 Marketing Exam 2Product - correct answer ✔✔Good, service, or idea consisting of a bundle of tangible and intangible
attributes that satisfy consumers needs
Consumer Product - correct answer ✔✔Products purchased by the ultimate consumer
Business Product - correct answer ✔✔(B2B) Products an organization buys that assist in providing other
products for resale
Convenience Product - correct answer ✔✔Items a consumer purchases frequently, conveniently, and
with minimum shopping effort
Shopping Product - correct answer ✔✔Items the consumer compares to several alternatives on specific
criteria
Unsought Product - correct answer ✔✔Items the consumer does not know about and/or buy
Product Line - correct answer ✔✔Group of products or services that are closely related
Product Mix - correct answer ✔✔All of the product lines offered by an orgnization
Discontinuous Innovation - correct answer ✔✔Making the consumer learn entirely new consumption
patterns to use the product
Customer Experience Management (CEM) - correct answer ✔✔Process of managing the entire customer
experience within the company
Development - correct answer ✔✔Stage that turns the idea on paper into a prototype
, Idea Generation - correct answer ✔✔Second stage that involves developing a pool of concepts to serve
as candidates for new products
Market Testing - correct answer ✔✔Stage involving exposing actual products to perspective consumers
under realistic conditions
New-Product Process - correct answer ✔✔Seven stages an organization goes through to identify
opportunities and convert them into salable products or services
New-Product Strategy Development - correct answer ✔✔Stage that defines the role for a new product in
terms of objectives
Product Item - correct answer ✔✔Specific product that has a unique brand, size, price
Services - correct answer ✔✔Intangible activities that satisfy a consumers needs/wants
Durable Good - correct answer ✔✔An item consumed in one or two uses
Nondurable Good - correct answer ✔✔An item that lasts over many uses
Continuous Innovation - correct answer ✔✔Consumers do not need to learn new behaviors
Screening & Evaluation - correct answer ✔✔Stage that internally and externally evaluates ideas to
eliminate those that warrant no further effort
Business Analysis - correct answer ✔✔Stage that specifies the features of the product and the marketing
strategy
Commercialization - correct answer ✔✔Stage that positions and launches a new product
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