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COB 300 Marketing Final Exam (Mert Tokman) with verified answers
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COB 300 Marketing Final Exam (Mert Tokman) with verified answers
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COB 300 Marketing Final Exam (MertTokman)
What company is a world-class new-product machine? - correct answer ✔✔Apple
Radical Innovation - correct answer ✔✔High degree of learning. Basically a new product. Discontinuous
Incremental Innovation - correct answer ✔✔Almost no learning from customer. Continuous
Dynamically Continuous Innovation - correct answer ✔✔Not entirely new learning (electric toothbrush)
Benefits of Virtual Reality - correct answer ✔✔Simulates tough situations. Useful for education. Virtual
buildings (classrooms, conference rooms). Good for destructive testing
Characteristics of Service - correct answer ✔✔Intangible. No shelf life. Personality aspect (consumers
have a hard time distinguishing between employee and company as a whole)
4 Product Types - correct answer ✔✔Convenience
Shopping
Specialty
Unsought
4 P's of Marketing Mix - correct answer ✔✔Price
Product
Promotion
Place (distribution)
Types of Business Products - correct answer ✔✔Raw Materials
, Manufactured Materials
Component Parts
Capital Equipment
Accessories
MRO (maintenance repair or operation)
Different Levels of a Product Portfolio - correct answer ✔✔Product Category
Brands
SKUs (Stock Keeping Unit) -- barcodes
The ________ the variety, the _________complex the supply chain - correct answer ✔✔higher, more
7 Stages in New-Product Process - correct answer ✔✔Strategy Development
radical vs incremental innovation
Idea Generation
incremental? look at customer feedback
radical? R&D
Screening and Evaluation
do we have resources? is it possible? market
to sell to?
Business Analysis
will we make money?
BEP, sales promotions
Development
alpha test
beta test
actual product created
Market Testing
find a sample to test on
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