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UH - MARK 3337 - Exam 2 Review - Study Guide

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UH - MARK 3337 - Exam 2 Review - Study Guide

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background image product strategy is a well 
conceived plan that emphasizes 
becoming a product expert, selling 
specific benefits, and configuring 
value added solutions 
Become a company expert
What kind of information is needed 
is most selling situations?
Company culture and organization
Product information
Past performance
Understanding a feature benefit 
strategy 
What does federal express sell?
Transportation or peace of mind
What does amazon sell?
Products or product assortment and 
selection
What does Starbucks sell?
background image Coffee or the best 20 minutes of the 
day
Features versus benefits
Features include data, facts, and 
characteristics of product or service
Benefits include whatever gain is 
provided to the customer
General
Specific
EXAMPLE: (Feature) – the hotel 
conference rooms were recently 
redecorated
Hotel-offers 24  hours room service EXAMPLE: (Benefit)- all meetings will
be held in rooms that are attractive 
and comfortable
People can order  food and beverages at their 
background image convenience, anytime of day or 
night
What is positioning?
Positioning involves those decisions 
and activities intended to create and 
maintain a certain concept of the 
product in the customer’s mind Salesperson’s role in product  differentiation
Differentiation refers to the ability to
separate the product from that of the 
competition in a way that builds a 
competitive advantage Source of differentiation may be 
quality, price, convenience, economy, 
service value proposition is the set of 
benefits and values the salesperson 
background image configures to meet and exceed 
customers’ specific needs
Competitive analysis Value added product selling strategy 
is enhanced when based on a 
comprehensive analysis of the 
competitive situation including:
The product
It’s attributes
The benefits it offers Product positioning options
Position as new or mature
Position based on price
Position based on value added
Factors determining product life cycle  stage
Products perceived advantage over 
available substitutes 

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School: University of Houston
Department: Marketing
Course: Professional Selling
Professor: A. Vandaveer
Term: Summer 2015
Tags: Marketing
Name: Exam 2 Review
Description: These notes give you an outline of what is on the next Exam.
Uploaded: 03/11/2018
13 Pages 55 Views 44 Unlocks
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