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MGT 103 EXAM 2 Questions and Answers (100% Pass)
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MGT 103 EXAM 2 Questions and Answers (100% Pass)
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1|Page | © copyright 2024/2025 | Grade A+MGT 103 EXAM 2 Questions and
Answers (100% Pass)
· Product Adoption Stages
✓ 1. Awareness
✓ 2. Interest
✓ 3. Evaluation
✓ 4. Trial
✓ 5. Adoption
Types of Product Adopters
✓ 1. Innovators
✓ 2.Early Adopters
✓ 3.Early Majority
✓ 4.Late Majority
✓ 5.Laggards
· Product Life Cycle
✓ introduction, growth, maturity, decline
Master01 | October, 2024/2025 | Latest update
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Goods
✓ tangible attributes that a consumer's five senses can perceive.
Idea
✓ a thought that leads to a product or action
nondurable good
✓ is an item consumed in one or a few uses, such as food products and
fuel.
durable good
✓ is one that usually lasts over many uses, such as appliances, cars, and
smartphones. This classification method also provides direction for
marketing actions.
Services
✓ are intangible activities or benefits that an organization provides to
satisfy consumers' needs in exchange for money or something else of
value.
Consumer products
Master01 | October, 2024/2025 | Latest update
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✓ products purchased by the ultimate consumer; Convenience,
✓ Shopping,
✓ Specialty,
✓ Unsought
business products (also called B2B products or industrial products)
✓ are products organizations buy that assist in providing other products
for resale. Some products can be considered both consumer and
business items. sales are often the result of derived demand; that is,
sales of business products frequently result (or are derived) from the
sale of consumer products; become part of final product, Support
products;
Convenience products
✓ are items that the consumer purchases frequently, conveniently, and
with a minimum of shopping effort. toothpaste
Shopping products
✓ are items for which the consumer compares several alternatives on
criteria such as price, quality, or style. bed
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
Specialty products
✓ are items that the consumer makes a special effort to search out and
buy. car
Unsought products
✓ are items that the consumer does not know about or knows about but
does not initially want. fire extinguisher
. Product positioning
✓ refers to the place a product occupies in consumers' minds based on
important attributes relative to competitive products
Packaging Functions
✓ -protect the product and maintain its functional form
✓ -provide customer convenience
✓ -promotes the product's features and uses
✓ -communicates quality through symbols
· Branding
Master01 | October, 2024/2025 | Latest update
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