201 Final Exam Correct 100%

during what stage do: sales and profits decline, prices and promotions budgets drop, competitors withdraw from market, marketing objective is to determine whether to maintain/harvest/or drop declining products? {Ans: decline}what type of product is a BMW {Ans: specialty}types of competition based approaches {Ans: premium pricing, EDLP, high/low pricing, leader pricing, coupon, rebate}What are the typical consumers to purchase a product at its "Growth" stage? {Ans: early adopters, early majority}What is a convenience product? {Ans: Frequent purchase, little planning/buying effort, low price (toothpaste, tide)}What is a Product? {Ans: anything that is of VALUE to a consumer and might satisfy a WANT or NEED thru MARKET EXCHANGE}