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COB 300 - Marketing Exam 2 Hertzenberg questions well answered
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COB 300 - Marketing Exam 2 Hertzenberg questions well answered
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COB 300 - Marketing Exam 2Hertzenberg
Positioning - correct answer ✔✔- What it is: the space in a customers head or heart you want to own
- Positioning is internal
- Goals of Positioning
1) Meaningful
2) Valuable
3) Logical/emotionally powerful
4) OWNABLE
What are the 5 types of positioning strategies? - correct answer ✔✔1) By attributes and benefits
2) Price or quantity
3) Competition
4) Product class
5) Product Users
Attributes and Benefits - correct answer ✔✔Example: Apple ad showing how the full internet was used
on an iPhone
Price or Quantity - correct answer ✔✔Lowest prices
Competition - correct answer ✔✔Example: Coke vs. Pepsi ad -- Pepsi shows Coke in the ad to directly
attack it
* 1st place should never use this kind of advertising
Product Class - correct answer ✔✔Class of its own
E.g. prerecorded music
, Product User - correct answer ✔✔Example: Michael Jordan drank Gatorade -- so should you
What are the 4 steps in developing your position? - correct answer ✔✔1) Identifying attributes of
importance to TM
2) Assess TM's perceptions of you and competitors
3) Select positioning and execute through mix
4) Monitor the positioning
Perceptual Mapping - correct answer ✔✔Consumers group products to simplify buying
Marketers:
1) Identify self on map
2) Identify customer "ideal points"
3) Influence this map and/or their place on the map
What is new product innovation? - correct answer ✔✔In the marketplace, customers perceive it to be
new or differing from existing products. It could be entirely new or simply have additional features to
make existing product better.
New product development is an _____________ process - correct answer ✔✔ongoing
What are the 3 major expenses involved in new product development? - correct answer ✔✔1) High R&D
2) Increases speed of obsoleteness
3) High slotting fees
In order for a retailer to put you on their shelves, they must believe that you will be more
_____________ than whatever you replace - correct answer ✔✔profitable
If more companies are competing for space on a shelf, what happens to slotting fees? - correct answer
✔✔increase
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