Exam (elaborations)
MGT 103 - Bates Final Questions and Answers (100% Pass)
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MGT 103 - Bates Final Questions and Answers (100% Pass)
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1|Page | © copyright 2024/2025 | Grade A+MGT 103 - Bates Final Questions
and Answers (100% Pass)
non durable goods
✓ goods that last a short period of time - consumer and advertising
durable goods
✓ things that last for a while - personal and selling
Convenience Products
✓ Items that the consumer purchases frequently, conveniently, and with
a minimum of shopping effort
Shopping Products
✓ Items for which the consumer compares several alternatives on criteria
such as price, quality, or style
Specialty Products
✓ Items that a consumer makes a special effort to search out and buy
Unsought Products
Master01 | October, 2024/2025 | Latest update
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✓ Items that the consumer does not know about or knows about but
does not initially want
product class
✓ the entire product category or industry (sneakers)
product form
✓ different versions of the greater category (running shoes vs climbing
shoes)
Product line
✓ subtle feature variations, different colors
product mix
✓ all products that an organization sells
SKU (stock Keeping units)
✓ identification numbers of each item being purchased
New product
Master01 | October, 2024/2025 | Latest update
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✓ function differences, adding new features to existing products
the product concept
✓
Positioning
✓ The place that a brand occupies in the mind of its consumers relative
to competing brands
Reverse Positioning
✓ When a firm positions itself in a way that runs counter to the direction in
which the rest of the market is moving; withhold attributes that
competitors consider necessary to compete
Continuous Innovation
✓ No need to reeducate consumers
✓ Easy transition for consumers once aware of the new features
Dynamically Continuous Innovation
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ Minor changes in consumer behavior needed
✓ Marketers educate consumers on use and benefits
Discontinuous Innovation
✓ Consumers must learn entirely new consumption patterns
✓ Marketers must gain awareness from consumers
✓ Marketers must educate about benefits and proper use of an
innovative product
✓ Most expensive type of product innovation from a marketer's
perspective
Product line extension
✓ adding additional products to an existing product line in order to
compete more broadly in the industry
jump in innovation
✓ significant jump in innovation or technology
brand extension
✓ extending an existing brand name to new product categories
Master01 | October, 2024/2025 | Latest update
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