Unsought product Study guides, Class notes & Summaries

1. New product ideas come from ____. a. internal sources, using company R&D b. external sources, listening to distributors and suppliers c. external sources, watching and listening to customers d. Both A and C e. All of the above are source of new product ideas - Answer-e. All of the above are source of new product ideas. Frequent purchases, little planning, low customer involvement, low prices, widespread distribution, and convenient locations are characteristics of ____. a. shopping p...

What is a Product? correct answers anything that is of VALUE to a consumer and might satisfy a WANT or NEED thru MARKET EXCHANGE 2 main types of product correct answers physical objects (goods) and services other types of product correct answers organization, ppl, places, ideas what is a service correct answers intangible activity that satisfies consumer or business user needs services can not be _________ correct answers inventoried Services are ____ and _______ at the same time ...

mktg again 3340 Question and answers correctly solved 20244 main classes of consumer products (Ch 10) and why it's important - correct answer 1 convenience (purchases frequently, conveniently, minimal effort) 2 shopping (compares alternatives on criteria like price and #) 3 specialties (makes special effort to search out and buy) 4 unsought (knows ab but does not initially want) important cuz the classification affects which products consumers buy and the mktg strategies used Dif...

MKTG 3340 PRACTICE EXAM 2024. Product - correct answer anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want. Services - correct answer a form of product that consists of activities, benefits, or satisfactions and that is essentially intangible and does not result in the ownership of anything. Products and services - correct answer ---- are becoming more commoditized. •Companies are now creating and managing customer e...

MKTG 3340Product - correct answer anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want. Services - correct answer a form of product that consists of activities, benefits, or satisfactions and that is essentially intangible and does not result in the ownership of anything. Products and services - correct answer ---- are becoming more commoditized. •Companies are now creating and managing customer experiences with their ...

product correct answers is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. 5 Product Levels of Customer Value Hierarchy correct answers core benefit basic product expected product augmented product potential product core benefit correct answers the service or benefit the customer is really buying basic product correct answers the simplest f...

MKTG 3340 COMPLETE STUDY GUIDE TEST 2024. Product - correct answer anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want. Services - correct answer a form of product that consists of activities, benefits, or satisfactions and that is essentially intangible and does not result in the ownership of anything. Products and services - correct answer ---- are becoming more commoditized. •Companies are now creating and managin...

services vs products - The differences of products and services are based on tangibility, perishability, heterogeneity, and variability. Products are often tangible but can be intangible and are put on the market for acquisition, attention and consumption. Services are only intangible and are activities or benefits that an organization provides to satisfy consumer needs in exchange for money or something else of value. Majority of products carry an element of service. 3 layers of a product - ...

Market Segmentation - Aggregating consumers into groups that have similar needs and will be react similarly to a marketing action Product Differentiation - Involves the firm using different marketing mix actions such as product features and advertising, to help consumers perceive the product as being different and better than competing products Three market segmentation strategies - 1. One product and many segments 2.Multiple products in multiple segments 3. Mass customization Steps i...

Product correct answers Everything, both favorable and unfavorable, that a person receives in an excahange Convenience Product correct answers A relativelty inexpensive item that merits little shopping effort Shopping Product correct answers A product that requires comparison shopping because it is usualy more expensive than a convenience product and is found in fewer stores Specialty Product correct answers A particular item for which consumers search extensively and are very reluctant...