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Exam (elaborations)

Bates mgt 103 midterm 2 Questions and Answers (100% Pass)

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  • Course
  • Mgt 103
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  • Mgt 103

Bates mgt 103 midterm 2 Questions and Answers (100% Pass)

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  • October 29, 2024
  • 19
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Mgt 103
  • Mgt 103
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ExamArsenal
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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