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1-216 PLACE UTILITY KNOWLEDGE The value to consumers that comes from having the offering available where consumers need it constitutes utility. a. time b. place c. possession d. market e. form Answer: b Page(s): 20 LO: 5 AACSB: Analytic QD: Easy Rationale: Text term definition—place utility. 1-217 PLACE UTILITY APPLICATION Which of the following statem

MAN | 615 | Management Strategies | question bank | 1-216 PLACE UTILITY KNOWLEDGE 

1-226 VIDEO CASE 1: 3M COMPREHENSION 3M inventor, David Windorski took this approach when he developed the Post-it ® Flag Highlighter: a. He first asked students to identify their needs and wants. b. He asked students to bring him their five favorite office product items they used for studying. c. He patented his idea and sold it to 3M. d. He started with his id

MAN | 615 | Management Strategies | question bank | 1-226 VIDEO CASE 1: 3M COMPREH

quiz_2.docx-Question 1 1.25 out of 1.25

1-214 FORM UTILITY APPLICATION The process of taking wool off sheep and using it to make soft sweaters shows how manufacturing can create utility. a. time b. place c. possession d. market e. form Answer: e Page(s): 20 LO: 5 AACSB: Analytic QD: Hard Rationale: The value to consumers that comes from the production or alteration of a product or service constitut

MAN | 615 | Management Strategies | question bank | 1-214 FORM UTILITY APPLICATION

1-184 SOCIETAL MARKETING CONCEPT COMPREHENSION Innovators at 3M developed Scotch-Brite ® Never Rust Wool Soap Pads from recycled plastic bottles. Even though these soap pads are more expensive than competitive brands (Brillo and SOS), customers are willing to pay the premium price. Customers appreciate the value of a superior product (they don’t rust

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