Mba 706 exam 3 - Study guides, Class notes & Summaries

MBA 706 Exam 2 Study Guide Questions and Answers. 1. What is the difference between a want and a need from the consumer buying process’ perspective? o Need  Occurs when the consumer’s existing level of satisfaction and desired level of satisfaction are not the same  Based on internal (e.g., hunger, thirst, and fatigue) or external (e.g., advertising, window shopping, interacting with salespeople) stimuli  Consumers can "recognize needs" in a variety of settings and situati...

MBA 706 Exam 2 Study Guide Questions and Answers. 1. What is the difference between a want and a need from the consumer buying process’ perspective? o Need  Occurs when the consumer’s existing level of satisfaction and desired level of satisfaction are not the same  Based on internal (e.g., hunger, thirst, and fatigue) or external (e.g., advertising, window shopping, interacting with salespeople) stimuli  Consumers can "recognize needs" in a variety of settings and situati...

QUESTIONS AND ANSWERS

Product - ANSWER-_______ is the most essential decision in the 4Ps because it is what the consumer is receiving in the exchange. Intangibility - ANSWER-The extent to which you have something concrete Experience Marketing - ANSWER-Consumers ar buying the experience broadly - ANSWER-Define competition ___________ Product Mix - ANSWER-A company's product lines Breadth - ANSWER-Number of product lines. For example, Frigidaire sells refrigerators, washers, dryers, ranges, etc. Depth - ANSWER...

Product - ANSWER-_______ is the most essential decision in the 4Ps because it is what the consumer is receiving in the exchange. Intangibility - ANSWER-The extent to which you have something concrete Experience Marketing - ANSWER-Consumers ar buying the experience broadly - ANSWER-Define competition ___________ Product Mix - ANSWER-A company's product lines Breadth - ANSWER-Number of product lines. For example, Frigidaire sells refrigerators, washers, dryers, ranges, etc. Depth - ANSWER...

MBA 706 - Exam 3 with Complete Solutions

Market Segmentation - ANSWER-The process of dividing consumers into groups with similar consumer characteristics and product needs. Market Segmentation - ANSWER-Allows managers to break the market into small manageable groups, so that firms can tailor their offerings to satisfy different needs and wants. Three Marketing Strategies - ANSWER-Undifferentiated (Mass Marketing), Differentiated (Product-Variety), Concentrated (Target) Undifferentiated (Mass Marketing) - ANSWER-Firms sell a sing...

Product - ANSWER-_______ is the most essential decision in the 4Ps because it is what the consumer is receiving in the exchange. Intangibility - ANSWER-The extent to which you have something concrete Experience Marketing - ANSWER-Consumers ar buying the experience broadly - ANSWER-Define competition ___________ Product Mix - ANSWER-A company's product lines Breadth - ANSWER-Number of product lines. For example, Frigidaire sells refrigerators, washers, dryers, ranges, etc. Depth - ANSWER...

QUESTIONS AND ANSWERS

Market Segmentation - ANSWER-The process of dividing consumers into groups with similar consumer characteristics and product needs. Market Segmentation - ANSWER-Allows managers to break the market into small manageable groups, so that firms can tailor their offerings to satisfy different needs and wants. Three Marketing Strategies - ANSWER-Undifferentiated (Mass Marketing), Differentiated (Product-Variety), Concentrated (Target) Undifferentiated (Mass Marketing) - ANSWER-Firms sell a sing...