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Bates mgt 103 midterm 2 Questions and Answers (100% Pass)
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Bates mgt 103 midterm 2 Questions and Answers (100% Pass)
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1|Page | © copyright 2024/2025 | Grade A+Bates mgt 103 midterm 2 Questions
and Answers (100% Pass)
product positioning
✓ -relative position on where your product sits in the consumers mind in
comparison to others
✓ -determines how best to communicate their products benefits to target
consumers and satisfy there needs and wants
increasing customer lifetime value
✓ -more often and larger purchases
✓ -loyalty
✓ -lower the cost to serve
✓ -move loyal customers to lower cost channels
✓ ex/golf ball aimed at future group
brand loyalty
✓ process designed to telescope in on the core consumer
✓ -focus on most involved consumers
✓ -80% of sales come from 20% of consumers
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
durable goods
✓ personal, relationship built, typically $$$
nondurable goods
✓ consumer, advertising, need to be replaced
convenience products
✓ consumer purchases them frequently, convienentley, and with
minimum effort
✓ -no personal investment
shopping products
✓ -consumer compare alt types; price, quantity, and style
✓ -brand is a little more important
speciality products
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ -consumer makes special effort to search and get
✓ -brand insistence!!
✓ -higher priced and harder to find
✓ -brand promotion focus
unsought products
✓ -consumer doesn't know bout until they need
✓ -dont initially want
product class
✓ ex/ running shoes
product form
✓ -specific version of product class
✓ ex/ hard surface running shoes
product line
Master01 | October, 2024/2025 | Latest update
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