MGTA02H3 Chapter 6: Chapter 6 Textbook Notes

is the term that describes the actions a person takes in purchasing and using products and services. a) Marketing b) Market Research c) Consumer behaviour d) Consumer management

2. When using the total product concept, marketers think about a product as having different layers. The actual good or service that the consumer purchases when buying is the product. a) core b) actual c) fundamental d) augmented e) physical

A competitive strategy of striving to be the low-cost provider is particularly attractive when:

A) buyers are not price sensitive.

B) the industry is made up of a large number or equal-sized rivals.

C) there are many ways to achieve product differentiation that have value to buyers.

D) price competition is especially vigorous, buyers have low switching costs, and the majority of industry sales are made to a few, large volume buyers.

E) switching costs are high, price competition is strong, and buyers tend to use the industry's products in many different ways.