MKTG 313 Study Guide - Quiz Guide: Value Proposition
MKTG 313 quiz
Product
Encompasses info., services, ideas, tangible products, or some combination of
these that satisfy the customer's needs with the right solution
Transactional Buyer
Buyers are well aware of their needs
Consultative Buyer
Lacks needs and awareness and will need clarification
Customized Solution Buyer
This process is referred to as product configuration. Quotation
management=huge for product configuration
Strategic Alliance Buyer
Most challenging, but substantial rewards
Features
Include data, facts, and characteristics of a product/service. Features make
benefits possible!
Benefits
Include whatever gain is provided to the customer (general, specific)
Positioning
Involves those decisions and activities intended to create and maintain a certain
concept of the product in the customer's mind (compared to the competition)
Differentiation
Refers to the ability to separate the product from that of the competition in a way
that builds a competitive advantage. Ex: price, convenience, quality, etc.
Value proposition
The set of benefits and values the salesperson configures to meet and exceed
customers' specific needs
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Document Summary
Encompasses info. , services, ideas, tangible products, or some combination of these that satisfy the customer"s needs with the right solution. Lacks needs and awareness and will need clarification. This process is referred to as product configuration. Include data, facts, and characteristics of a product/service. Include whatever gain is provided to the customer (general, specific) Involves those decisions and activities intended to create and maintain a certain concept of the product in the customer"s mind (compared to the competition) Refers to the ability to separate the product from that of the competition in a way that builds a competitive advantage. The set of benefits and values the salesperson configures to meet and exceed customers" specific needs. Details the customer can see (i. e. appearance of personnel and equipment) The ability to perform the desired service dependably, accurately, and consistently. The willingness to help customers and provide prompt service. Employee"s knowledge, courtesy, and ability to convey trust and confidence.
