BUS 240 – Final Exam Study Guide, 2025/2026 –
Comprehensive Review Material
competition, costs, company objectives, customers, channel members - correct answer ✔✔ 5
C's of pricing
Product, Price, Place, Promotion - correct answer ✔✔ 4 P's of marketing
no frills products offered at a low price w/o any branding info - correct answer ✔✔ generic
brand
buying something that has been purchased before but changing something about it - correct
answer ✔✔ adapted buy
a supply chain system in which there is no common ownership and no contractual relationships,
but the dominant channel member controls the channel relationship - correct answer ✔✔
administered marketing channel
the process of buying and selling goods or services to be used in the production of other goods
and services, for consumption by the buying organization, or for resale by wholesalers and
retailers - correct answer ✔✔ B2B
the process in which businesses sell to consumers - correct answer ✔✔ B2C
A segmentation method that divides customers into groups based on how they use the product
or service. Some common behavioral measures include occasion and loyalty. - correct answer
✔✔ behavioral segmentation
,the grouping of consumers on the basis of the benefits they derive from products/services -
correct answer ✔✔ benefit segmentation
measures how many consumers in a market are familiar with the brand and what it stands for;
created through repeated exposures of the various brand elements in the firm's
communications to consumers - correct answer ✔✔ brand awareness
occurs when a brand extension adversely affects consumer perceptions about the attributes the
core brand is believed to hold - correct answer ✔✔ brand dilution
the set of assets and liabilities linked to a brand that adds or subtracts from the value provided
by the product/service - correct answer ✔✔ brand equity
the use of the same brand in a different product line - correct answer ✔✔ brand extension
contractual arrangement between firms where one firm allows another to use its brand name,
logo, symbols in exchange for a negotiated fee - correct answer ✔✔ brand licensing
occurs when a consumer buys the same brand's product/service repeatedly over time rather
than buy from multiple suppliers within the same category - correct answer ✔✔ brand loyalty
a strategy where marketers change a brand's focus to target new markets or realign the brand's
core emphasis w/changing market preferences - correct answer ✔✔ brand
positioning/repositioning
the point at which the number of units sold generates just enough revenue to equal the total
costs; at this point, profits are zero - correct answer ✔✔ break-even point
need recognition
, information search
evaluation of alternatives
purchase decision
purchase
post-purchase - correct answer ✔✔ buying process steps
the process in which consumers sell to other consumers - correct answer ✔✔ C2C
retailers that offer a narrow variety but a deep assortment of merchandise - correct answer ✔✔
category specialists
the practice of marketing two or more brands together, on the same package or promotion -
correct answer ✔✔ co-branding
Threatening or punishing the other channel member for not undertaking certain tasks. Delaying
payment for late delivery would be an example. - correct answer ✔✔ coercive power
a type of service gap; refers to the difference between the actual service provided to customers
and the service that the firm's promotion program promises - correct answer ✔✔
communication gap
A person who purchases goods and services for personal use - correct answer ✔✔ consumer
runs steadily throughout the year and therefore is suited to products and services that are
consumed continually at relatively steady rates and that require a steady level of persuasive or
reminder advertising - correct answer ✔✔ continuous advertising
Comprehensive Review Material
competition, costs, company objectives, customers, channel members - correct answer ✔✔ 5
C's of pricing
Product, Price, Place, Promotion - correct answer ✔✔ 4 P's of marketing
no frills products offered at a low price w/o any branding info - correct answer ✔✔ generic
brand
buying something that has been purchased before but changing something about it - correct
answer ✔✔ adapted buy
a supply chain system in which there is no common ownership and no contractual relationships,
but the dominant channel member controls the channel relationship - correct answer ✔✔
administered marketing channel
the process of buying and selling goods or services to be used in the production of other goods
and services, for consumption by the buying organization, or for resale by wholesalers and
retailers - correct answer ✔✔ B2B
the process in which businesses sell to consumers - correct answer ✔✔ B2C
A segmentation method that divides customers into groups based on how they use the product
or service. Some common behavioral measures include occasion and loyalty. - correct answer
✔✔ behavioral segmentation
,the grouping of consumers on the basis of the benefits they derive from products/services -
correct answer ✔✔ benefit segmentation
measures how many consumers in a market are familiar with the brand and what it stands for;
created through repeated exposures of the various brand elements in the firm's
communications to consumers - correct answer ✔✔ brand awareness
occurs when a brand extension adversely affects consumer perceptions about the attributes the
core brand is believed to hold - correct answer ✔✔ brand dilution
the set of assets and liabilities linked to a brand that adds or subtracts from the value provided
by the product/service - correct answer ✔✔ brand equity
the use of the same brand in a different product line - correct answer ✔✔ brand extension
contractual arrangement between firms where one firm allows another to use its brand name,
logo, symbols in exchange for a negotiated fee - correct answer ✔✔ brand licensing
occurs when a consumer buys the same brand's product/service repeatedly over time rather
than buy from multiple suppliers within the same category - correct answer ✔✔ brand loyalty
a strategy where marketers change a brand's focus to target new markets or realign the brand's
core emphasis w/changing market preferences - correct answer ✔✔ brand
positioning/repositioning
the point at which the number of units sold generates just enough revenue to equal the total
costs; at this point, profits are zero - correct answer ✔✔ break-even point
need recognition
, information search
evaluation of alternatives
purchase decision
purchase
post-purchase - correct answer ✔✔ buying process steps
the process in which consumers sell to other consumers - correct answer ✔✔ C2C
retailers that offer a narrow variety but a deep assortment of merchandise - correct answer ✔✔
category specialists
the practice of marketing two or more brands together, on the same package or promotion -
correct answer ✔✔ co-branding
Threatening or punishing the other channel member for not undertaking certain tasks. Delaying
payment for late delivery would be an example. - correct answer ✔✔ coercive power
a type of service gap; refers to the difference between the actual service provided to customers
and the service that the firm's promotion program promises - correct answer ✔✔
communication gap
A person who purchases goods and services for personal use - correct answer ✔✔ consumer
runs steadily throughout the year and therefore is suited to products and services that are
consumed continually at relatively steady rates and that require a steady level of persuasive or
reminder advertising - correct answer ✔✔ continuous advertising
