Exam (elaborations)

POM 207 Correctly And Completely Answered Questions|63 Pages

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________ allowances are price reductions given for turning in an old item when buying a new one. 1. Promotional 2. Trade-in 3. Depreciation 4. Segmented 5. Functional - ️️Trade-in ________ are a form of product that consists of activities, benefits, or satisfactions offered for sale tha...

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Uploaded on August 2, 2024
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POM 207 Correctly And Completely
Answered Questions
________ allowances are price reductions given for turning in an old item when buying a new one.

1. Promotional

2. Trade-in

3. Depreciation

4. Segmented

5. Functional - ✔ ✔ Trade-in

________ are a form of product that consists of activities, benefits, or satisfactions offered for sale that
are essentially intangible and do not result in the ownership of anything.

1. Liabilities

2. Services

3. Brands

4. Consumer products

5. Specialty products - ✔ ✔ Services

________ are ambassadors who enthusiastically share their passion for a company's products with large
circles of friends and acquaintances.

1. Leading adopters

2. Brand evangelists

3. Surrogate consumers

4. Market mavens

5. Innovators - ✔ ✔ Brand evangelists

,________ are consumer products and services that customers usually buy frequently, immediately, and
with minimal comparison and buying effort.

1. Unsought products

2. Capital items

3. Shopping products

4. Convenience products

5. Supplies and repair services - ✔ ✔ Convenience products

________ are formed by noting current prices, remembering past prices, or assessing the buying
situation.

1. Product line prices

2. Seasonal prices

3. Reference prices

4. Time-based prices

5. Product bundle prices - ✔ ✔ Reference prices

________ are human needs that are shaped by culture and individual personality.

1. Necessities

2. Wants

3. Demands

4. Values

5. Exchanges - ✔ ✔ Wants

________ are low-growth, high-share businesses/products that need less investment to hold their
market share.

1. Stars

,2. Cash cows

3. Question marks

4. Dogs

5. Bears - ✔ ✔ Cash cows

________ are society's relatively permanent and ordered divisions whose members share similar values,
interests, and behaviors.

1. Social classes

2. Societal norms

3. Reference groups

4. Universal cultures

5. Social networks - ✔ ✔ Social classes

________ calls for meeting the present needs of consumers and businesses while also preserving or
enhancing the ability of future generations to meet their needs.

1. Sustainable marketing

2. Ambush marketing

3. Consumerism

4. Environmentalism

5. Strategic planning - ✔ ✔ Sustainable marketing

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place
relative to competing products in the minds of target consumers.

1. Mass customization

2. Targeting

3. Segmentation

4. Differentiation

, 5. Positioning - ✔ ✔ Positioning

________ consists of evaluating each market segment's attractiveness and selecting one or more
segments to enter.

1. Positioning

2. Mass customization

3. Market targeting

4. Market segmentation

5. Differentiation - ✔ ✔ Market targeting

________ include banks, credit companies, insurance companies, and other businesses that help insure
against the risks associated with the buying and selling of goods.

1. Financial intermediaries

2. Physical distribution firms

3. Resellers

4. Marketing services agencies

5. Wholesalers - ✔ ✔ Financial intermediaries

________ involves actually distinguishing the firm's market offering to create superior customer value.

1. Mass customization

2. Differentiation

3. Market segmentation

4. Diversifying

5. Targeting - ✔ ✔ Differentiation

________ involves creating a video, e-mail, mobile message, advertisement, or other marketing event
that is so infectious that customers will seek it out or pass it along to their friends.

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POM 207 Correctly And Completely Answered Questions|63 Pages

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