MGT 103 Quiz 3 And Answers
Explain how marketing managers use perceptual maps to position products in the marketplace
4 steps:
1. identify the important attributes for a product brand or class
2. discover how target customers rate competing products or brands with respect to these
attribute...
Explain how marketing managers use perceptual maps to position products in the marketplace
4 steps:
1. identify the important attributes for a product brand or class
2. discover how target customers rate competing products or brands with respect to these
attributes
3. discover where the customer's product or brand is on these attributes in the minds of potential
customers
4. Reposition the company's product or brand in the minds of potential customers
examples of demographic variables age, gender, race, ethnicity
examples of geographic variables region, state size, climate
examples of psychographic variables personality attributes, motives, lifestyle
examples of behavioristic variables volume usage, end use, benefit expectations, brand
loyalty, price sensitivity
, MGT 103 Quiz 3 And Answers
80/20 rule A marketing rule of thumb that 20 percent of purchasers account for 80 percent
of a product's sales.
describe 4 I's of services intagibility, inconsistency, inseparability, inventory
Recognize how services differ and how they can be classified. can be delivered by people
or equipment, can be provided for by for-profit or non-profit organizations, and they can be
government sponsored
3 different ways consumers purchase and evaluate services search attributes: attributes
that customers can readily evaluate prior to purchase (size, price, tv quality)
experience attributes: can only be evaluated after purchase (haircut, flight, meal in restaurant)
credence: can never really be confidently evaluated (therapy, pet food, religious services
to eliminate service inconsistencies, companies rely on ______ and ________.
standardization and training
positioning act of designing the company's offer and image so that it
occupies a distinct and valued place in the target customer's
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