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MGT 103 Chapter 10 Exam Questions and Answers $8.49
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MGT 103 Chapter 10 Exam Questions and Answers
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product - Answer-good or service created to have value and satisfy customer needs can be exchanged for something else of value/money nondurable/durable good - Answer-goods that can be used right away/lasts over a period of time services - Answer-intangible activities an organization provides...

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  • October 22, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mgt 103 chapter 10 exam questions and answers
  • product answer good or service created to have v

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MGT 103 Chapter 10 Exam Questions
and Answers
product - Answer-good or service created to have value and satisfy customer needs
can be exchanged for something else of value/money

nondurable/durable good - Answer-goods that can be used right away/lasts over a
period of time

services - Answer-intangible activities an organization provides for money/something of
value

consumer/business products - Answer-items bought by consumers/products used to
assist other products for resale

convenience product - Answer-purchased frequently and convenient access

shopping product - Answer-items where consumer takes time to compare price, quality,
style

specialty products - Answer-items customers make a special effort to look for and buy

unsought products - Answer-not actively looked for, wanted, or known

derived demand - Answer-sales of business products based on sale of consumer
products
i.e. increased purchase of cars will increase purchase of spray paint for cars

product item - Answer-specific product that has unique price/brand/size

product line - Answer-group of products that are closely related to satisfy a class of
needs
i.e. Nike

product mix - Answer-includes all product lines

continuous innovation - Answer-consumer doesn't have to learn anything new really
i.e. new and improved toothpaste, new attributes

dynamically continuous innovation - Answer-only minor changes in behavior for product
i.e. electric toothbrush

discontinuous innovation - Answer-consumer must learn about a new product
completely

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