MKT 3401 MODULE 6 QUESTIONS AND ANSWERS
moodle essays
Implementation - Answers - Once the information has been gathered concerning market
analysis and strategy development, emphasis can be placed on Level 3 in the
Marketing Strategy Framework, which is ________________________.
Implementation - Answers - ________________ is also referred to in business settings
as the marketing mix, which is how a company is able to blend product, price, place,
and promotion in a way that effectively reaches a target market.
target market
refining product offerings, adjusting price offerings, or designing unique promotions -
Answers - A key responsibility of the marketing manager is to design the marketing mix
in a way that satisfies the needs of their ___________________. These decisions will
help companies gain competitive advantages by _____________(3)____________ that
are appealing to customers.
involvement - Answers - here are several categories of products. Depending on what
category of product a company is marketing, customers will engage in different levels of
____________ when making a purchase.
Involvement - Answers - ______________ refers to the time and effort the consumer
spends in searching and evaluating a purchase. As the consumer moves through the
various categories, the levels of involvement change from low risk and low investment
to slightly more risky and a higher investment.
convenience - Answers - One type of category of product is ___________________. It
involves products that are low risk and low involvement purchases such as snacks,
drinks, and other inexpensive purchases.
Shopping - Answers - _______________ is another category of product and includes
items such as computers, home appliances, or clothing that involves more time and
effort in making a decision.
Specialty Products - Answers - ________________ is a third category of product and
could include items such as designer goods, gourmet cooking products, or high-end
cosmetics.
unsought products - Answers - The final category of product is ___________________
which are those products a consumer is forced to purchase for the first time. More time
and effort is spent in learning about the product or service they now need.
unsought products
, high - Answers - this is an example of which category of product?
For example, college graduates realize they must furnish their new apartment with
appliances. This would be their first purchase of these products and would require in-
depth research in learning about the various options available. The level of involvement
will be _________ because of the risk and cost involved. They will depend on different
sources to learn about the options available before making a purchase.
warranty, packaging, and the company brand. - Answers - The various components that
make up a product are the _________(3)__________
point of differentiation - Answers - The warranty, even though not a glamorous part of a
product, can be a ____________________________.
implied - Answers - ___________ warranty which is usually meant for products of
convenience. Even though it is not stated on the package, it is assumed that the
company produces a good product and the consumer can be assumed the product is
acceptable.
written
brand - Answers - ____________ warranty indicates the company stands behind the
product and will provide a remedy if there is a problem. A confident warranty can also
strengthen a company's ________.
how a confident warranty can strengthen a companys brand - Answers - this is an
example of?
when Lee Lacocca took over as chairman for Chrysler, he recognized the company's
brand was weak because the public's perception was that Chrysler cars we poorly made
and unreliable. Lacocca wanted to change this negative perception by marketing their
standard K-Car as reliable and dependable. The point of differentiation was that the K-
Car was going to have one of the first 100,000-mile bumper-to-bumper warranties in the
industry. This bold move demonstrated to consumers that any company who could
guarantee a car's efficiency for 100,000 miles must be confident that the car is reliable.
The warranty worked to help restore confidence in the company and also improved
sales.
contain and protect - Answers - The first function of packaging is to
_______________________ the product. Even though it sometimes goes
unappreciated, it is critical that products are properly transported and arrive safely at
their destination.
the first function, to contain and protect the product - Answers - this is an example of
what function of packaging?
For example, eggs are not broken, milk has not spoiled, computers and electronics
arrive at your home not damaged; crystals and breakable items can be delivered safely
to homes or stores.
moodle essays
Implementation - Answers - Once the information has been gathered concerning market
analysis and strategy development, emphasis can be placed on Level 3 in the
Marketing Strategy Framework, which is ________________________.
Implementation - Answers - ________________ is also referred to in business settings
as the marketing mix, which is how a company is able to blend product, price, place,
and promotion in a way that effectively reaches a target market.
target market
refining product offerings, adjusting price offerings, or designing unique promotions -
Answers - A key responsibility of the marketing manager is to design the marketing mix
in a way that satisfies the needs of their ___________________. These decisions will
help companies gain competitive advantages by _____________(3)____________ that
are appealing to customers.
involvement - Answers - here are several categories of products. Depending on what
category of product a company is marketing, customers will engage in different levels of
____________ when making a purchase.
Involvement - Answers - ______________ refers to the time and effort the consumer
spends in searching and evaluating a purchase. As the consumer moves through the
various categories, the levels of involvement change from low risk and low investment
to slightly more risky and a higher investment.
convenience - Answers - One type of category of product is ___________________. It
involves products that are low risk and low involvement purchases such as snacks,
drinks, and other inexpensive purchases.
Shopping - Answers - _______________ is another category of product and includes
items such as computers, home appliances, or clothing that involves more time and
effort in making a decision.
Specialty Products - Answers - ________________ is a third category of product and
could include items such as designer goods, gourmet cooking products, or high-end
cosmetics.
unsought products - Answers - The final category of product is ___________________
which are those products a consumer is forced to purchase for the first time. More time
and effort is spent in learning about the product or service they now need.
unsought products
, high - Answers - this is an example of which category of product?
For example, college graduates realize they must furnish their new apartment with
appliances. This would be their first purchase of these products and would require in-
depth research in learning about the various options available. The level of involvement
will be _________ because of the risk and cost involved. They will depend on different
sources to learn about the options available before making a purchase.
warranty, packaging, and the company brand. - Answers - The various components that
make up a product are the _________(3)__________
point of differentiation - Answers - The warranty, even though not a glamorous part of a
product, can be a ____________________________.
implied - Answers - ___________ warranty which is usually meant for products of
convenience. Even though it is not stated on the package, it is assumed that the
company produces a good product and the consumer can be assumed the product is
acceptable.
written
brand - Answers - ____________ warranty indicates the company stands behind the
product and will provide a remedy if there is a problem. A confident warranty can also
strengthen a company's ________.
how a confident warranty can strengthen a companys brand - Answers - this is an
example of?
when Lee Lacocca took over as chairman for Chrysler, he recognized the company's
brand was weak because the public's perception was that Chrysler cars we poorly made
and unreliable. Lacocca wanted to change this negative perception by marketing their
standard K-Car as reliable and dependable. The point of differentiation was that the K-
Car was going to have one of the first 100,000-mile bumper-to-bumper warranties in the
industry. This bold move demonstrated to consumers that any company who could
guarantee a car's efficiency for 100,000 miles must be confident that the car is reliable.
The warranty worked to help restore confidence in the company and also improved
sales.
contain and protect - Answers - The first function of packaging is to
_______________________ the product. Even though it sometimes goes
unappreciated, it is critical that products are properly transported and arrive safely at
their destination.
the first function, to contain and protect the product - Answers - this is an example of
what function of packaging?
For example, eggs are not broken, milk has not spoiled, computers and electronics
arrive at your home not damaged; crystals and breakable items can be delivered safely
to homes or stores.
