Explain what is meant by positioning and describe the bases marketers use to position products and services.
What will be an ideal response?
Positioning is developing a specific marketing mix to influence potential customers' overall perception of a brand, product line, or organization in general. Firms use a variety of bases for positioning:
ATTRIBUTE. Products may be associated with an attribute, feature, or particular customer benefit.
PRICE AND QUALITY. Firms may stress high price as a signal of quality or low price as a signal of value.
USE OR APPLICATION. Stressing use situations or special applications effectively positions the product.
PRODUCT USER. This position base associates the product with a personality or type of user.
PRODUCT CLASS. The product is associated with a particular category of products.
COMPETITOR. Positioning against a competitor, such as Avis positioning itself as No. 2 against Hertz.
EMOTION. Focuses on how the product makes customers feel.
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Search attributes:
A) are typical of manufactured products. B) cannot be measured before purchase. C) are normally high for service goods. D) refers to attributes of intangible products.
On January 1, 2018, Westside Sales issued $16,000 in bonds for $19,800. These are eight-year bonds with a stated interest rate of 10% that pay semiannual interest. Westside Sales uses the straight-line method to amortize the bond premium. After the first interest payment on June 30, 2018, what is the bond carrying amount? (Round your intermediate answers to the nearest dollar.)
A) $19,800 B) $19,562 C) $16,238 D) $16,000
On January 1, a company issued and sold a $400,000, 7%, 10-year bond payable, and received proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The carrying value of the bonds immediately after the first interest payment is:
A. $399,800. B. $396,200. C. $395,800. D. $400,200. E. $400,000.
What are the supply chain implications of the lean system emphasis on small lot sizes?
What will be an ideal response?