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MGT 103 - Bates Final Questions and Answers (100% Pass) $13.49   Add to cart

Exam (elaborations)

MGT 103 - Bates Final Questions and Answers (100% Pass)

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  • MGT 103
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  • MGT 103

MGT 103 - Bates Final Questions and Answers (100% Pass)

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  • October 29, 2024
  • 66
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGT 103
  • MGT 103
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1|Page | © copyright 2024/2025 | Grade A+




MGT 103 - Bates Final Questions
and Answers (100% Pass)
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

Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

✓ 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



Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

✓ 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




Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

✓ 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




brand extension


✓ extending an existing brand name to new product categories



Master01 | October, 2024/2025 | Latest update

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