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Exam (elaborations)

Mgt 103 Final Exam Questions And Answers

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  • MGT 103
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  • MGT 103

Mgt 103 Final Exam Questions And Answers what factor is estimated or measured for each of the cells in a market-product grid each cell in the grid can show the estimated market size of a given product sold to a specific market segmentation. what are some criteria used to decide which segment ...

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  • October 23, 2024
  • 29
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGT 103
  • MGT 103
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UpperClass
Mgt 103 Final Exam Questions And Answers

what factor is estimated or measured for each of the cells in a market-product grid each

cell in the grid can show the estimated market size of a given product sold to a specific market

segmentation.




what are some criteria used to decide which segment to choose for targets? possible

criteria include market size, expected growth, competitive position, etc




How are marketing and product synergies different in a market-product grid? marketing

synergies run horizontally across a market product grid. each row represents an oppourtunity for

efficiency in the marketing efforts to a market segment.




what is the difference between product positioning and product repositioning product

positions refers to the place a product occupies in consumers minds. product repositioning

involves changing the place a product occupies in a customers mind relative to competitors.




Why do marketers use perceptual maps in product positioning decisions? perceptual maps

are a means of displaying in two dimensions the location of products or brands in the minds of

customers

,Mgt 103 Final Exam Questions And Answers
80/20 rule 20% of users account for 80% of sales




Market Segmentation the process of dividing a market into meaningful, relatively similar,

and identifiable segments or groups




usage rate the quantity consumed or the number of store visits during a specific period




what are the four main types of consumer products They are: (1) convenience products—

items that the consumer purchases frequently, conveniently, and with a minimum of shopping

effort; (2) shopping products—items for which the consumer compares several alternatives on

criteria such as price, quality, or style; (3) specialty products—items that the consumer makes a

special effort to search out and buy; and (4) unsought products—items that the consumer does

not know about or knows about but does not initially want.




what is the difference between a product line and a product mix a product line is a group

of products or service items that are closely related because they satisfy a class of needs, are used

together, etc. a product mix is all of the products lines offered by an organization




What kind of innovation would an improved electric toothbrush be? continuous

innovation - no new learning required by consumers

, Mgt 103 Final Exam Questions And Answers

Why can an "insignificant point of difference" lead to new-product failure? the product

must have superior characteristics that deliver unique benefits to the user compared to those of

competitors that must be sufficient enough to motivate a change in consumer behavior.




what marketing metric might you use in a marketing dashboard to discover which states have

weak sales? the marketing metric "annual percentage change in unit volume by state" will

help




what is the new product strategy development stage in the new product development process

both SWOT analysis and environmental scanning to asses its strengths and weaknesses




what are the main sources of new product ideas? 1:employee and coworkers suggestions


2:customer and supplier suggestion

3:r&d labs

4:analysis of competitors products

5: smaller tech firms

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