AGRI 210 REVIEW GUIDE - REAL EXAM QUESTIONS
WITH EXPERT VERIFIED ANSWERS FOR
GUARANTEED PASS | LATEST UPDATE 2025
market _____________ is grouping customers in segments or categories according to
some set of relevant characteristics - ✔✔segmentation
______________ segmentation is based on region or locale, may be an indicator of
cultural similarities - ✔✔geographic
age, income, size of household, education these are examples of
_____________________ market segmentation - ✔✔demographic
the process of creating the desired image in the customer's mind is known as
_______________ - ✔✔positioning
99 cent menus offered by fast food chains is an example of __________________ -
✔✔positioning
the set of competencies where the firm has a clear and distinctive advantage over the
competition is known as - ✔✔competitive advantage
providing customers with unique products and services that is unavailable from anyone
else, is - ✔✔differential advantage
________________________ is offering comparable quality and features at a lower
price - ✔✔cost leadership
, What is a standard product with no special services or features attached? -
✔✔generic
laggards means customers who are - ✔✔tradition-bound
what is the figure which is shown below? - ✔✔product life cycle
at the _____________________ stage of a product, there is no revenue -
✔✔development
decline stage means dropping the sales of a particular product and it is time for
replacement with other products. - ✔✔true
________ in a product's life cycle indicates rapid expansion in sales - ✔✔growth
revenue means price multiplies by ____________________ - ✔✔quantity (Sold)
suppose a new product is offered at a low price to get broad market acceptance. What
kind of pricing strategy is this? - ✔✔penetration
customer loyalty program is an example of which pricing strategy? - ✔✔discount
many people think, "we get for what you pay". what kind of pricing is this? -
✔✔prestige
what is a function of advertising? - ✔✔creating awareness and reinforcing customer
satisfaction
WITH EXPERT VERIFIED ANSWERS FOR
GUARANTEED PASS | LATEST UPDATE 2025
market _____________ is grouping customers in segments or categories according to
some set of relevant characteristics - ✔✔segmentation
______________ segmentation is based on region or locale, may be an indicator of
cultural similarities - ✔✔geographic
age, income, size of household, education these are examples of
_____________________ market segmentation - ✔✔demographic
the process of creating the desired image in the customer's mind is known as
_______________ - ✔✔positioning
99 cent menus offered by fast food chains is an example of __________________ -
✔✔positioning
the set of competencies where the firm has a clear and distinctive advantage over the
competition is known as - ✔✔competitive advantage
providing customers with unique products and services that is unavailable from anyone
else, is - ✔✔differential advantage
________________________ is offering comparable quality and features at a lower
price - ✔✔cost leadership
, What is a standard product with no special services or features attached? -
✔✔generic
laggards means customers who are - ✔✔tradition-bound
what is the figure which is shown below? - ✔✔product life cycle
at the _____________________ stage of a product, there is no revenue -
✔✔development
decline stage means dropping the sales of a particular product and it is time for
replacement with other products. - ✔✔true
________ in a product's life cycle indicates rapid expansion in sales - ✔✔growth
revenue means price multiplies by ____________________ - ✔✔quantity (Sold)
suppose a new product is offered at a low price to get broad market acceptance. What
kind of pricing strategy is this? - ✔✔penetration
customer loyalty program is an example of which pricing strategy? - ✔✔discount
many people think, "we get for what you pay". what kind of pricing is this? -
✔✔prestige
what is a function of advertising? - ✔✔creating awareness and reinforcing customer
satisfaction
