IQ #8 MODULE 8 MARKETING MANAGEMENT

TO ACHIEVE MARKET LEADERSHIP, FIRMS MUST OFFER PRODUCTS AND SERVICES OF SUPERIOR QUALITY THAT PROVIDE UNSURPASSED CUSTOMER VALUE

• TRUE

• FALSE

IT REFERS TO A SET OF ATTRIBUTES AND CONDITIONS BUYERS NORMALLY EXPECT WHEN THEY PURCHASE THIS PRODUCT.

• CORE BENEFIT

• BASIC PRODUCT

• EXPECTED PRODUCT

• AUGMENTED PRODUCT

THESE ARE TANGIBLE GOODS THAT NORMALLY SURVIVE MANY USES

• NONDURABLE GOODS

• SERVICES

• CONVENIENCE GOODS

• DURABLE GOODS

THESE ARE CONVENIENCE GOODS CONSUMERS PURCHASE ON A REGULAR BASIS

• STAPLES

• IMPULSE GOODS

• EMERGENCY GOODS

• UNSOUGHT GOODS

GOODS THAT ENTER THE MANUFACTURER'S PRODUCT COMPLETELY

• CAPITAL ITEMS

• SUPPLIES

• MATERIALS AND PARTS

• BUSINESS SERVICES

ALSO CALLED PRODUCT ASSORTMENT

• PRODUCT WIDTH

• PRODUCT MIX

• PRODUCT LENGTH

• PRODUCT DEPTH

THE ONE ELEMENT OF THE MARKETING MIX THAT PRODUCES REVENUE

• PRODUCT

• PLACE

• PROMOTION

• PRICE

THIS STRATEGY SETS AN ARTIFICIALLY HIGH PRICE AND THEN OFFERS THE PRODUCT AT SUBSTANTIAL SAVINGS, FOR EXAMPLE "FROM 359, NOW 299"

• CASH REBATES

• LOSS LEADER PRICING

• CASH REBATES

• PSYCHOLOGICAL DISCOUNTING

PRICES VARY BY SEASON, DAY, OR HOUR.

• IMAGE PRICING

• LOCATION PRICING

• TIME PRICING

• CHANNEL PRICING

BRAND LEADERS DO NOT FACE LOWER-PRICED STORE BRANDS

• TRUE

• FALSE

Answer explanation

BRAND LEADERS ALSO FACE LOWER-PRICED STORE BRANDS.