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MGT 103 Final Burrit Demil Questions and Answers (100% Pass)
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MGT 103 Final Burrit Demil Questions and Answers (100% Pass)
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1|Page | © copyright 2024/2025 | Grade A+MGT 103 Final Burrit Demil Questions
and Answers (100% Pass)
product
✓ a good, service, or idea consisting of a bundle of tangible and
intangible attributes that satisfies consumers' needs and is received in
exchange for money or something else of value
good
✓ A tangible product used to satisfy human wants
services
✓ intangible activities or benefits that an organization provides to satisfy
consumers' needs in exchange for money or something else of value
product life cycle
✓ describes the stages a new product goes through in the marketplace:
introduction, growth, maturity, and decline
marketing executives managing a product's life cycle in 3 ways
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ 1. modify the product itself by altering its characteristics, such as
product quality, performance, or appearance
✓ 2. modify the market by finding new customers for the product,
increasing a product's use among existing customers, or creating a
new use situation for the product
✓ 3. they can reposition the product using any one or a combination of
marketing mix elements
Four unique elements of services
✓ intangibility, inconsistency, inseparability, inventory
prepurchase search
✓ a search for information that aids a specific acquisition decision
Five Dimensions of Service Quality
✓ reliability, responsiveness, assurance, empathy, tangibles
customer contact audit
✓ a flowchart of the points of interaction between consumer and service
provider
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
seven Ps of services marketing
✓ product, price, place, promotion, people, physical environment,
process
roles of internal marketing
✓ have the attitude, skills, and commitment needed to meet customer
expectations
Customer Experience Management (CEM)
✓ the process of managing the entire customer experience within the
company
price objectives
✓ profit, sales, market share, unit volume, survival, social responsibility
pricing constraints
Master01 | October, 2024/2025 | Latest update
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