MGT 103 Quiz 3 And Answers
Explain how marketing managers use perceptual maps to position products in the marketplace
4 steps:
1. identify the important attributes for a product brand or class
2. discover how target customers rate competing products or brands with respect to these
attribute...
Explain how marketing managers use perceptual maps to position products in the marketplace
4 steps:
1. identify the important attributes for a product brand or class
2. discover how target customers rate competing products or brands with respect to these
attributes
3. discover where the customer's product or brand is on these attributes in the minds of potential
customers
4. Reposition the company's product or brand in the minds of potential customers
examples of demographic variables age, gender, race, ethnicity
examples of geographic variables region, state size, climate
examples of psychographic variables personality attributes, motives, lifestyle
examples of behavioristic variables volume usage, end use, benefit expectations, brand
loyalty, price sensitivity
, MGT 103 Quiz 3 And Answers
80/20 rule A marketing rule of thumb that 20 percent of purchasers account for 80 percent
of a product's sales.
describe 4 I's of services intagibility, inconsistency, inseparability, inventory
Recognize how services differ and how they can be classified. can be delivered by people
or equipment, can be provided for by for-profit or non-profit organizations, and they can be
government sponsored
3 different ways consumers purchase and evaluate services search attributes: attributes
that customers can readily evaluate prior to purchase (size, price, tv quality)
experience attributes: can only be evaluated after purchase (haircut, flight, meal in restaurant)
credence: can never really be confidently evaluated (therapy, pet food, religious services
to eliminate service inconsistencies, companies rely on ______ and ________.
standardization and training
positioning act of designing the company's offer and image so that it
occupies a distinct and valued place in the target customer's
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card for the summaries. There is no membership needed.
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 UpperClass. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £12.78. You're not tied to anything after your purchase.
