Chapter 6 Questions
* Search for Information
* Evaluation of Alternatives
* Actual Purchase Decision
* Post-Purchase Contact with Firm
Marketing helps lure in potential buyers by association to a desire or effect. These avenues inform potential customers about the benefits of buying a particular product.
9) Describe a perfect market from the supplier's and customer's perspective? A perfect market from the supplier’s perspective is one without substitutes or competitions. They basically “own the market” making it difficult for new competitors to enter. Customers and suppliers do NOT influence pricing. A consumer’s perfect market is the literal opposite.The perfect market from the customer’s perspective is one in which there is a lot of competition resulting in pure price competition and available substitutes. 11) What are the components of the core product, actual product, and augmented product in a feature set? In a product feature set offers components of the core product are the core benefits a customer receives from buying the basic product. . The actual product consists of the set of characteristics designed to deliver the product’s core benefits. The augmented product consists of the additional benefits the consumer receives such as a warranty, support and repair personnel that will accompany the product. 13) How are product positioning and branding related? How are they different? Products are put in a specific market demographic because of its brand. Marketers attempt to present a unique, high value product that is especially suited to the specific needs of the segment customers (demographic). Product positioning is how the company displays its product to the consumer. This is similar because the company is making a...