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Essay Questions for the final

Essay Questions for the final - remind people about a...

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BUS 1100 - R1501 Introduction to Business OCC - Fall 2009 Professor Lorencz Preparation for Essay Questions 1. Identify and discuss four characteristics of a new product that influences the rate of product diffusion. Observability - how visible is the product to other potential customers Trialability - How easily can a person try it before they buy it. Complexity - is your product easy to understand and use Compatibility - how easy is it to use with the existing way of doing things. Relative advantage - how much better are the benefits of your product compared to another product 2. What is the purpose of promotion? How do marketers use it to increase the chance a consumer will buy? Promotion helps make a person want to buy a product. Promotion is used to inform people, to persuade people and to
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Unformatted text preview: remind people about a product. 3. Discuss challenges in developing distribution channels in foreign markets. 4. Discuss four major elements of culture and how they impact marketing abroad. Language- what language do they speak and understand, if they can't understand the product, then they can't use it Religion- what people believe determines what people buy. Communication- what are the ways they communicate and what is proper Education- what is their education level 5. Identify and explain the key components of a balance sheet. Assets = liabilities + owners equity Assets are the things that the company owns Liabilities are what the company owes Owners equity are the claims the owners have against the assets...
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