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Exam (elaborations)

MGT 103 EXAM 2 Questions and Answers (100% Pass)

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  • MGT 103
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  • MGT 103

MGT 103 EXAM 2 Questions and Answers (100% Pass)

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  • October 29, 2024
  • 62
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGT 103
  • MGT 103
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ExamArsenal
1|Page | © copyright 2024/2025 | Grade A+




MGT 103 EXAM 2 Questions and
Answers (100% Pass)
· Product Adoption Stages


✓ 1. Awareness

✓ 2. Interest

✓ 3. Evaluation

✓ 4. Trial

✓ 5. Adoption




Types of Product Adopters


✓ 1. Innovators

✓ 2.Early Adopters

✓ 3.Early Majority

✓ 4.Late Majority

✓ 5.Laggards




· Product Life Cycle


✓ introduction, growth, maturity, decline




Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

Goods


✓ tangible attributes that a consumer's five senses can perceive.




Idea


✓ a thought that leads to a product or action




nondurable good


✓ is an item consumed in one or a few uses, such as food products and

fuel.




durable good


✓ is one that usually lasts over many uses, such as appliances, cars, and

smartphones. This classification method also provides direction for

marketing actions.




Services


✓ are intangible activities or benefits that an organization provides to

satisfy consumers' needs in exchange for money or something else of

value.




Consumer products

Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

✓ products purchased by the ultimate consumer; Convenience,

✓ Shopping,

✓ Specialty,

✓ Unsought




business products (also called B2B products or industrial products)


✓ are products organizations buy that assist in providing other products

for resale. Some products can be considered both consumer and

business items. sales are often the result of derived demand; that is,

sales of business products frequently result (or are derived) from the

sale of consumer products; become part of final product, Support

products;




Convenience products


✓ are items that the consumer purchases frequently, conveniently, and

with a minimum of shopping effort. toothpaste




Shopping products


✓ are items for which the consumer compares several alternatives on

criteria such as price, quality, or style. bed




Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

Specialty products


✓ are items that the consumer makes a special effort to search out and

buy. car




Unsought products


✓ are items that the consumer does not know about or knows about but

does not initially want. fire extinguisher




. Product positioning


✓ refers to the place a product occupies in consumers' minds based on

important attributes relative to competitive products




Packaging Functions


✓ -protect the product and maintain its functional form

✓ -provide customer convenience

✓ -promotes the product's features and uses

✓ -communicates quality through symbols




· Branding




Master01 | October, 2024/2025 | Latest update

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