marketing chapter 3 test 1

4 utilities of customer value
Place, and
Ease of Possession.
utility consists of everything the manufacturer has put into a product, from its aesthetics to its durability.
Making offerings available when customers want them.
Where the consumer takes ownership of the offering
ease of possession
The attributes that make it possible to transfer title to an offering from the seller to the buyer—price, payment plan, and any warranties or guarantees that go into a purchase.
segmenting STP Process
Consumers’ criteria for making purchase decisions represent a powerful means of separating them into unique segments for targeting.
value propostion
is a statement that targets potential customers and describes why they should buy a specific offering from a specific company.
focuses marketing resources on those groups of potential customers who are likely to have greater demand for a product.
is the practice of creating an identity in the minds of prospective customers that allows one offering to stand out among many.
occurs when a firm strategically changes the brand’s current image or personality.