BATES MGT 103 MIDTERM 2 WITH COMPLETE SOLUTION

BATES MGT 103 MIDTERM 2 WITH COMPLETE SOLUTION
Question :product positioning
Correct answer:-relative position on where your product
sits in the consumers mind in comparison to others
-determines how best to communicate their products
benefits to target consumers and satisfy there needs and
wants
Question :increasing customer lifetime value
Correct answer:-more often and larger purchases
-loyalty
-lower the cost to serve
-move loyal customers to lower cost channels
ex/golf ball aimed at future group
Question :brand loyalty
Correct answer:process designed to telescope in on the
core consumer

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