100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
MAR 3023 || A+ Guaranteed. CA$15.95   Add to cart
Quickly navigate to
Preview
  2.  
  3. MAR 3023
  4.  
  5. MAR 3023

Exam (elaborations)

MAR 3023 || A+ Guaranteed.
 8 views  0 purchase
  • Course
  • MAR 3023
  • Institution
  • MAR 3023

feature correct answers aspects that are build into the product benefit correct answers what the product does and what people get out of it core product benefits correct answers the basic level of benefits that the product has to offer to fit into the product category expected product bene...

[Show more]

Preview 2 out of 8  pages

Document information

  • August 7, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • feature

Written for

  • MAR 3023
  • MAR 3023

Seller

avatar-seller
FullyFocus

Reviews received

Content preview

MAR 3023 || A+ Guaranteed.
feature correct answers aspects that are build into the product

benefit correct answers what the product does and what people get out of it

core product benefits correct answers the basic level of benefits that the product has to offer to fit
into the product category

expected product benefits correct answers the benefits beyond the core benefits that consumers
expect from the product

augmented product benefits correct answers benefits above and beyond what the customer
expects

creeping features (Featuritis) correct answers the tendency to simply add features to a product
without thinking about its benefits

featuritis curve correct answers shows how adding features initially increases user happiness, but
at a certain point user happiness decreases with additional features because the product gets more
complicated to use

product correct answers a good, service, or idea consisting of a bundle of tangible and intangible
benefits

product item correct answers a specific product, identified by an ordering code

Stock-keeping unit (SKU) correct answers an ordering code

product line correct answers a group of closely related product items within an organization

product mix correct answers the set of product lines sold by a company

product life cycle correct answers the life of a typical product over four stages
1. introduction
2. growth
3. maturity
4. decline

introduction stage correct answers -slow growth as the market comes to accept the product
-may start out as unprofitable in the beginning
-there are few suppliers.
-focus on promotion and making people aware of the brand

growth stage correct answers -rapid growth
-competitors enter the market

, -competitive entry!!!!
-make variations in products to retain market share

maturity stage correct answers -slowing of growth
-competitive shakeout!!! - competitors exit the market and invest money elsewhere
-try to maintain brand loyalty
-try to keep products here for as long as possible

decline stage correct answers -decrease in sales
-"cash in" on customer loyalty or shut down?

product class life cycle correct answers an entire product category or industry

product form life cycle correct answers product forms within the class

brand product life cycle correct answers specific brands within a product form

market penetration correct answers selling more of the product to the same basic set of customers

wallet share correct answers the percentage of customers' expenditures that the firm accounts for

market development correct answers extending a product's life cycle by looking for new markets

product modification correct answers extending the product life cycle by altering a products
characteristics

product repositioning correct answers changing the position that a product occupies in the mind
of the consumer

brand development index (BDI) correct answers a tool used to determine how well a firm's brand
is performing in each geographic territory in which it sells

category development index (CDI) correct answers measures how an entire product category is
performing in the market

brand name correct answers a verbal label attached to a product

brand mark correct answers a nonverbal representation for the brand

trade character correct answers a personified representation of the brand

logo correct answers a brand name, brand mark, or both

trademark correct answers a brand name, brand mark, trade character, or logo that is legally
protected

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller FullyFocus. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$15.95. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75632 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$15.95
  • (0)
  Add to cart