MKT-395-001 Test #3 JSU (Dr. Thomas) Exam Questions And Answers
2 views 0 purchase
Course
MKT-497-001
Institution
MKT-497-001
What are some characteristics of INDUCED strategic behavior? - ANS -Market PULL
-In line with organization's strategy
-Modifications within the product line
-LOW risk of product failure
-LOW profit potential
What are some characteristic of AUTONOMOUS strategic behavior? - ANS ...
MKT-395-001 Test #3 JSU (Dr. Thomas)
Exam Questions And Answers
What are some characteristics of INDUCED strategic behavior? - ANS -Market PULL
-In line with organization's strategy
-Modifications within the product line
-LOW risk of product failure
-LOW profit potential
What are some characteristic of AUTONOMOUS strategic behavior? - ANS -Technology
PUSH
-Diverges from organization's strategy
-New-to-the-world products
-HIGH risk of product failure
-HIGH profit potential
Of the 4 product innovation teams, which team only contains one person? - ANS Product
manager
What are the 4 product innovation teams? - ANS -Product manager
-New product committee
-New product department
-New product venture team
For what is the new product VENTURE TEAM responsible? - ANS They represent
VARIOUS departments responsible for new product development, and they're dissolved after
the product is placed into the market
For what is the new product DEPARTMENT responsible? - ANS They GENERATE new
product ideas, with regard to major costs
For what is a product MANAGER responsible? - ANS They're responsible for the 4 Ps of
the marketing mix, as well as the development of the product
For what is the new product COMMITTEE responsible? - ANS They REVIEW the new
product proposals
, Explain the EXPECTED PRODUCT product level and provide an example. - ANS Set of
attributes buyer EXPECTS when purchasing the product (ie: kitchen, living room, bedrooms,
etc.)
Define "Product" - ANS Anything which can be offered to a market to satisfy a want/need
What is another name for proprietary product lines? - ANS Catalog product lines
T/F) PLC curves can be any shape. - ANS True
What does PLC stand for? - ANS Product Life Cycle
What are the 5 stages of the PLC? - ANS -Development
-Introduction
-Growth
-Maturity
-Decline
Explain INDUSTRIAL SERVICES product lines. - ANS Include solely intangibles, such as
maintenance, repair, consulting, etc.
What are the 4 types of product lines? - ANS -Proprietary
-Custom-built
-Custom-designed
-Industrial services
Explain CUSTOM-DESIGNED product lines. - ANS They're user-designed for a particular
user/limited number of users
Explain CUSTOM-BUILT product lines. - ANS Contain variations of proprietary products
and are marketer-designed
Explain PROPRIETARY product lines. - ANS Contain standard products and are usually
inventoried
What are some examples of product offering? - ANS -Ease of purchase
-Assistance with product delivery/disposal
-Services which help in receiving the full benefit of the product
-Payment
Define "Product offering" - ANS The complete package/bundle of benefits the customer
purchases
What are 6 types of products? - ANS -Physical good
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller DocLaura. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.39. You're not tied to anything after your purchase.
