100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
MKT 353 - Chap6-Part1 || Questions and 100% Verified Answers. $11.49   Add to cart

Exam (elaborations)

MKT 353 - Chap6-Part1 || Questions and 100% Verified Answers.

 4 views  0 purchase
  • Course
  • MKT 353 - Chap6-Part
  • Institution
  • MKT 353 - Chap6-Part

Marketing Program correct answers The strategic combination of the four marketing mix elements The product receives the most attention because it is most responsible for fulfilling the customers' needs and wants The Marketing Program correct answers Involves creating an offering that is an ar...

[Show more]

Preview 2 out of 11  pages

  • August 25, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MKT 353 - Chap6-Part
  • MKT 353 - Chap6-Part
avatar-seller
FullyFocus
MKT 353 - Chap6-Part1 || Questions and 100% Verified
Answers.
Marketing Program correct answers The strategic combination of the four marketing mix
elements

The product receives the most attention because it is most responsible for fulfilling the
customers' needs and wants

The Marketing Program correct answers Involves creating an offering that is an array of physical
(tangible), service (intangible), and symbolic (perceptual) attributes designed to satisfy
customers' needs and wants
Due to commoditization, the core product typically becomes incapable of differentiating the
offering.
Most organizations work to enhance the service and symbolic elements of their offerings to stand
out in a crowded market.
Typically done by changing price, distribution, or promotion.

Product Strategy correct answers Defines what the organization does and why it exists

A product offering's real value comes from its ability to deliver benefits that enhance a
customer's situation or solve a customer's problems.

Products fall into two general categories:

1.Consumer products
2.Business products

Consumer products correct answers for personal use and enjoyment

Business products correct answers for resale, use in making other products, or use in a firm's
operations

Types of Consumer Products
(Exhibit 6.1) correct answers Convenience Products

Shopping Products

Specialty Products

Unsought Products

Types of Business Products
(Exhibit 6.1) correct answers Raw Materials

, Component Parts

Process Materials

Maintenance, Repair, and Operating Products

Accessory Equipment

Installations

Business Services

The Product Portfolio correct answers Product Line
A group of closely related product items

Product Mix or Portfolio
The total group of products offered by the firm

Strategic Decisions
Variety - number of product lines offered
Assortment - depth of each product line

Strategic Decisions correct answers Variety - number of product lines offered

Assortment - depth of each product line

Variety correct answers number of product lines offered

Assortment correct answers depth of each product line

Product Line correct answers A group of closely related product items

Product Mix or Portfolio correct answers The total group of products offered by the firm

Potential Benefits of Offering a Large Product Portfolio correct answers Economies of Scale

Package Uniformity

Standardization

Sales and Distribution

Efficiency

Equivalent Quality Beliefs

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller FullyFocus. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

82871 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$11.49
  • (0)
  Add to cart