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MKTG 350 WVU Exam 1 || very Flawless.
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Marketing Concept correct answers A business philosophy that makes customer satisfaction - now and in the future - the central focus of the entire organization Product correct answers -Anything that can be offered to a market; for attention -acquisition, use or consumption that might satisfy a...

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  • August 28, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • MKTG 350 WVU
  • MKTG 350 WVU

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MKTG 350 WVU Exam 1 || very Flawless.
Marketing Concept correct answers A business philosophy that makes customer satisfaction -
now and in the future - the central focus of the entire organization

Product correct answers -Anything that can be offered to a market; for attention
-acquisition, use or consumption that might satisfy a need or want

Good Service Noun Idea correct answers 4 Types of Product

Core correct answers Level of Product:
-Benefits

Actual correct answers Level of Product:
-Packaging, Features, Brand Name, Quality Level, Display

Augmented correct answers Level of Product:
-Delivery, Customer Service After Sale, Installation, Warranty

Product Customer correct answers The difference between attributes and benefits is that
attributes reside in the ________, while benefits reside in the _________
http://www.marketingprofs.com/Faqs/showfaq.asp?ID=89&CatID=4

Concrete Abstract correct answers The difference between the two different types of Attributes is
that:
___________ are tangible, physical characteristics of a product,
while ___________ are more subjective, intangible characteristics

Functional Psychosocial correct answers The difference between the two different types of
Benefit Consequences is that:
___________ are tangible outcomes of using a product, while __________ are the psychological
and social outcomes of a product

Perceived Risk correct answers Aspect of Benefits regarding undesirable consequences

Means end chain correct answers links consumers' knowledge about product attributes with their
knowledge about consequences and values

Attributes Functional Psychosocial Value correct answers The Means-End Chain goes in this
order:
________, _______ consequences, _______ consequences, _______

Background Data Marketing Strategy Support Implement correct answers The primary
responsibilities of a PRODUCT MANAGER are to:
Collect and analyze ________ ____
Use this data to develop a ________ _________

, Obtain Organizational _______ for the strategy
_______ the strategy through the Marketing Mix and Related Decisions

Product Line correct answers KitchenAid - Artisan series, Classic series, Professional
series, Commercial series are examples of a ______ _______

Product Mix correct answers Kraft Foods's array of products and categories is an example of a
______ ______

Marketing Programs Allocations Planning correct answers A Marketing Plan is a written
document containing the guidelines for the business center's _________ _______ and _________
over the ________ period

Current Situation Opportunities Threats Objectives Strategies Programs correct answers -Define
the ______ ________ facing the product.
-Define ______ and ______ facing the business.
-Establish ______ .
-Define the ______ and ______ necessary to achieve the objectives.

Customer Marketing Resource Geographic correct answers The Bases of Competition are:

Form Category Generic Budget correct answers The four levels of Competition are:
_____, e.g. Diet Coke/Diet Pepsi
_____, e.g. Cola/Lemon Lime
_____, e.g. Tea/Beer/Coffee
_____, e.g. Ice Cream/Clothes/Baseball Cards/Television Set

Brand correct answers With Product Form Competition, the Product Manager should convince
customers that the _____ is better than others

Product Form correct answers With Product Category Competition, the Product Manager should
convince customers that the _____ ______ is the best in the Product Category

Category Satisfy Needs correct answers With Generic Competition, the Product Manager should
convince customers that the Product ______ is the best way to ______ _____

Generic correct answers With Budget Competition, the Product Manager should convince
customers that the _____ Benefits are the most appropriate way to spend their money

Time Technology Product Life Cycle correct answers The factors that influence a product
manager's decision on which level of competition to focus on are ______, rate of _______
change, and the stage of the ______ _______ ______

Existing Definitions and Managerial Judgment correct answers Managerial Methods of
Determining Competition

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