MGT 103 Final Exam Study Guide Questions
and Answers with Verified Solutions | Latest
Updated 2026
positioning the act of designing the company's offering
and
image to occupy a distinctive and valued
place in
the target customer's mind
head to head strategy competing directly with competitors on
similar
product attributes in the same target
market
differntiation strategy strong, favorable, distinctive, and
compelling
associations that distinguish a brand from
the
crowd are fundamental to brand success
product positioning statement identifies the target market and needs
satisfied, the
product (service) class or category in
which the
organization's offering competes, and the
offering's
unique benefits or attributes provided
, intangible can't touch or hold it, no change of
ownership.
every service has
inseparability delivered and consumed at the same time,
customers must be present at the
consumption of
the service and can't take home, every
service has
inconsistency difficult to standardize
no inventory unused service capacity from one time
period,
cannot be stored for future use
search attributes customers can readily evaluate prior to
purchase
(size, price)
experience attributes can only be evaluated after purchase, or
once
customer has experienced (haircut, meal)
credence can never be confidently evaluated, even
after
purchase (medical diagnosis, religious
service)
and Answers with Verified Solutions | Latest
Updated 2026
positioning the act of designing the company's offering
and
image to occupy a distinctive and valued
place in
the target customer's mind
head to head strategy competing directly with competitors on
similar
product attributes in the same target
market
differntiation strategy strong, favorable, distinctive, and
compelling
associations that distinguish a brand from
the
crowd are fundamental to brand success
product positioning statement identifies the target market and needs
satisfied, the
product (service) class or category in
which the
organization's offering competes, and the
offering's
unique benefits or attributes provided
, intangible can't touch or hold it, no change of
ownership.
every service has
inseparability delivered and consumed at the same time,
customers must be present at the
consumption of
the service and can't take home, every
service has
inconsistency difficult to standardize
no inventory unused service capacity from one time
period,
cannot be stored for future use
search attributes customers can readily evaluate prior to
purchase
(size, price)
experience attributes can only be evaluated after purchase, or
once
customer has experienced (haircut, meal)
credence can never be confidently evaluated, even
after
purchase (medical diagnosis, religious
service)
