Exam (elaborations)
BUSI 406 UNC Final Exam Questions with complete solution
- Course
- Institution
BUSI 406 UNC Final Exam Questions with complete solution
[Show more]
Seller
Follow
lizmwikali72
Reviews received
Content preview
BUSI 406 UNC Final Exam Questions withcomplete solution
Product Life Cycle - ANSWER-introduction, growth, maturity, decline
Greater Comparative Advantage means faster growth
new product - ANSWER-a good, service, or idea that is perceived by some
potential customers as new
continuous innovation - ANSWER-a modification of an existing product that sets
one brand apart from its competitors
ex. a new toothpaste flavor
dynamic continuous innovation - ANSWER-a modification of an existing product
that sets one brand apart from its competitors that require minor changes in
customer behavior.
Ex. Bluetooth stethoscope
discontinuous innovation - ANSWER-a totally new product that creates major
changes in the way we live
Ex. Self driving car
Why do new products fail? - ANSWER-No discernible benefits
Poor match between features and customer desires
Overestimation of market size
Incorrect positioning
Price too high or too low
Inadequate distribution
Poor promotion
, Inferior product
New Product Development Process - ANSWER-idea generation, idea screening,
idea evaluation, development, commercialization
channel of distribution - ANSWER-any series of firms or individuals who
participate in the flow of products from producer to final user or consumer
direct channel - ANSWER-a distribution channel in which producers sell directly
to consumers
indirect channel - ANSWER-intermediaries are inserted between the producer
and consumers and perform numerous channel functions
regrouping activities - ANSWER-adjust the quantities or assortments of products
handled at each level in a channel of distribution
Sorting - ANSWER-separating products into grades and qualities desired by
different target markets
Assorting - ANSWER-putting together a variety of products to give a target
market what it wants
traditional channel systems - ANSWER-a channel in which the various channel
members make little or no effort to cooperate with each other
corporate channel systems - ANSWER-corporate ownership all along the
channel
administered channel systems - ANSWER-the channel members informally
agree to cooperate with each other
ex. Miller Beer
contractual channel systems - ANSWER-the channel members agree by contract
to cooperate with each other
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 or Stuvia-credit 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 lizmwikali72. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81113 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now