Types of Benefit Sources in Marketing

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What type of benefits are associated with the physical nature or performance characteristics of a product?

Relationship benefits

Functional benefits (correct)

Market benefits

Process benefits

Which of the following is an example of a process benefit according to the text?

Loyalty rewards

Reduced search costs (correct)

Emotional connection to the brand

Jewel clarity and size

What can a large dispersion in perceived benefits and price lead to according to the text?

Product innovation

Brand dominance

Customer loyalty

Market confusion (correct)

In product positioning or repositioning, what is the key pricing issue during launch/repositioning mentioned in the text?

Addressable horizon Signup and view all the answers

When does price neutral pricing occur according to the text?

When there is a zone of indifference on the Price to Benefits map Signup and view all the answers

What should be considered when determining the new position of a product on the Price to Benefits map?

The likely response of the nearest competitor Signup and view all the answers

What type of response is most likely to occur when a firm implements Penetration Pricing?

Competitors may decrease their prices Signup and view all the answers

Which pricing strategy is described as 'skimming profits from early customers with the expectation of lowering prices later'?

Skim Pricing Signup and view all the answers

What is a potential disadvantage for a firm using Skim Pricing?

Missing volume target and forgoing profits Signup and view all the answers

How do Price Neutral Positioning and Value Advantaged Positioning differ in terms of competitive threats?

Price Neutral has more competitive threats Signup and view all the answers

What action might competitors be less likely to take in response to a firm adopting Value Disadvantaged Positioning?

Increase their prices Signup and view all the answers

Why might a firm consider using Penetration Pricing despite its potential downsides?

To quickly gain market share and establish a customer base Signup and view all the answers

Types of Benefit Sources in Marketing

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Questions and Answers

What type of benefits are associated with the physical nature or performance characteristics of a product?

Which of the following is an example of a process benefit according to the text?

What can a large dispersion in perceived benefits and price lead to according to the text?

In product positioning or repositioning, what is the key pricing issue during launch/repositioning mentioned in the text?

When does price neutral pricing occur according to the text?

What should be considered when determining the new position of a product on the Price to Benefits map?

What type of response is most likely to occur when a firm implements Penetration Pricing?

Which pricing strategy is described as 'skimming profits from early customers with the expectation of lowering prices later'?

What is a potential disadvantage for a firm using Skim Pricing?

How do Price Neutral Positioning and Value Advantaged Positioning differ in terms of competitive threats?

What action might competitors be less likely to take in response to a firm adopting Value Disadvantaged Positioning?

Why might a firm consider using Penetration Pricing despite its potential downsides?

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