CMS 341 LECTURE 4 EXAM
QUESTIONS WITH 100% VERIFIED
CORRECT ANSWERS!!
The 4 P's +1
- Product
- Place
- Price
- Promotion
- People
Model of Consumer Behavior
1. Environment
2. Buyer's black box (characteristics, decision process)
3. Response
Core Customer Value
- the core problem-solving
benefits or services. What is
the buyer buying?
Actual Product
- product and service features,
design, quality level, brand name and packaging
Augmented Product
- offering additional consumer services and benefits around the core benefit and actual product,
brand experiences
ex: Customization
Customization
, - the consumer changes the product to fit them (Bespoke Mascara)
Personalization
- the product changes to fit the consumer (Bite Beauty)
Product Line
- group of products that are closely related because
they function in a similar manner, are sold to the same customer groups (sub-brands)
Product Mix
- (product assortment/product portfolio), refers to the total number of product lines/types
Width
- number of different product lines (eyeshadow)
Depth
- number of versions offered for each product in the line (shades)
SWOT Analysis
QUESTIONS WITH 100% VERIFIED
CORRECT ANSWERS!!
The 4 P's +1
- Product
- Place
- Price
- Promotion
- People
Model of Consumer Behavior
1. Environment
2. Buyer's black box (characteristics, decision process)
3. Response
Core Customer Value
- the core problem-solving
benefits or services. What is
the buyer buying?
Actual Product
- product and service features,
design, quality level, brand name and packaging
Augmented Product
- offering additional consumer services and benefits around the core benefit and actual product,
brand experiences
ex: Customization
Customization
, - the consumer changes the product to fit them (Bespoke Mascara)
Personalization
- the product changes to fit the consumer (Bite Beauty)
Product Line
- group of products that are closely related because
they function in a similar manner, are sold to the same customer groups (sub-brands)
Product Mix
- (product assortment/product portfolio), refers to the total number of product lines/types
Width
- number of different product lines (eyeshadow)
Depth
- number of versions offered for each product in the line (shades)
SWOT Analysis
