MBA 706 - Exam 3 | MOST RECENT EXAM 2026 ACTUAL
COMPLETE FREQUENTLY MOST TESTED REAL EXAM
QUESTIONS AND VERIFIED SOLUTIONS | GET IT 100%
ACCURATE!! ALREADY GRADED A+ | NEWEST EXAM |
JUST RELEASED!!
Traditional Marketing Mix - ANSWER-4 P's identified by
McCarthy (1960) :
Product (core of mix), Price, Promotion, Place
(Distribution)
New Marketing Mix - ANSWER-Expansion to include 3 softer
elements: People,
Physical Evidence, Process
Management
Product - ANSWER-Can be physical goods, services, and ideas.
Three elements of the Product - ANSWER-Product Attributes,
Product Benefits,
Marketing Support
Services
Product Attributes - ANSWER-the core product; features, styles,
product quality,
,brand name, packaging, size,
and color
Product Benefits - ANSWER-elements that consumers
perceive as meeting
their needs; typically refer to the product's performance
and its image
Marketing Support Services - ANSWER-additional elements to
the core product;
include delivery, installation, guarantees, after-sales service
and reputation.
Two dimensions for effective product management -
ANSWER-product life
cycle, portfolio
analysis
Product Strategy - ANSWER-In the long term, usually products
can be changed
radically. However, in the short term, only minor changes
are possible. Ex:
Package/label changes, new varieties,
accessories, etc.
Four types of product strategy - ANSWER-Market leader,
Market challenger,
, market follower, me-too/market
nicher
Market Challenger - ANSWER-challenges the leader and
other firms (more
aggressive)
Market follower - ANSWER-less aggressive
Me-too/Market nicher - ANSWER-Focus on part of the market; if
successful can
be very profitable
(Porsche)
Brand Strategies - ANSWER-Brands enable consumers to
identify products or services with promised benefits, and to
differentiate from competitors. Brands are related with a set of
consumer expectations about performance, quality, price, etc.
Intangible Asset.
Four brand strategies - ANSWER-Corporate
umbrella branding
Family umbrella
branding
Range
branding
Individual
branding
COMPLETE FREQUENTLY MOST TESTED REAL EXAM
QUESTIONS AND VERIFIED SOLUTIONS | GET IT 100%
ACCURATE!! ALREADY GRADED A+ | NEWEST EXAM |
JUST RELEASED!!
Traditional Marketing Mix - ANSWER-4 P's identified by
McCarthy (1960) :
Product (core of mix), Price, Promotion, Place
(Distribution)
New Marketing Mix - ANSWER-Expansion to include 3 softer
elements: People,
Physical Evidence, Process
Management
Product - ANSWER-Can be physical goods, services, and ideas.
Three elements of the Product - ANSWER-Product Attributes,
Product Benefits,
Marketing Support
Services
Product Attributes - ANSWER-the core product; features, styles,
product quality,
,brand name, packaging, size,
and color
Product Benefits - ANSWER-elements that consumers
perceive as meeting
their needs; typically refer to the product's performance
and its image
Marketing Support Services - ANSWER-additional elements to
the core product;
include delivery, installation, guarantees, after-sales service
and reputation.
Two dimensions for effective product management -
ANSWER-product life
cycle, portfolio
analysis
Product Strategy - ANSWER-In the long term, usually products
can be changed
radically. However, in the short term, only minor changes
are possible. Ex:
Package/label changes, new varieties,
accessories, etc.
Four types of product strategy - ANSWER-Market leader,
Market challenger,
, market follower, me-too/market
nicher
Market Challenger - ANSWER-challenges the leader and
other firms (more
aggressive)
Market follower - ANSWER-less aggressive
Me-too/Market nicher - ANSWER-Focus on part of the market; if
successful can
be very profitable
(Porsche)
Brand Strategies - ANSWER-Brands enable consumers to
identify products or services with promised benefits, and to
differentiate from competitors. Brands are related with a set of
consumer expectations about performance, quality, price, etc.
Intangible Asset.
Four brand strategies - ANSWER-Corporate
umbrella branding
Family umbrella
branding
Range
branding
Individual
branding
