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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...

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  • October 23, 2024
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  • 2024/2025
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  • mgt 103 quiz 3 and answers

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  • MGT 103
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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

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

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