MKTG 361 Exam 3 UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Product - CORRECT ANSWER associated services
actual product
features/design
brand name
label - CORRECT ANSWER provides the information consumers need to make their purchase
decisions
communication tool
Packaging provides benefits to - CORRECT ANSWER retailers
consumers
Co-branding risks - CORRECT ANSWER conflicts of interest between the co brands
customers for the brand being too different
augmented product - CORRECT ANSWER non physical aspects of the product like financing
and support of associated services
Product mix - CORRECT ANSWER all products and product lines offered by a firm
Premium brands - CORRECT ANSWER offer the consumer a private label that is at least
comparable and generally superior to a manufacturer's brand quality
Shopping good - CORRECT ANSWER consumer durables like a washer or refrigerator-
buyers make a lot of comparisons and do not know which brand before the process
Specialty good - CORRECT ANSWER compares many alternatives, lots of time and effort
involved and consumer has a good idea of the brand before searching
, iphone
Brand equity - CORRECT ANSWER assets and liabilities linked to a brand that add or subtract
from a product or service
Which does not actually constitute a product that can be individually valued by the consumer so he is
willing to make an exchange - CORRECT ANSWER shipment of goods to target store-the
consumer does not directly pay for the delivery of the goods
Depth vs Breadth - CORRECT ANSWER Depth is the number of items in a product line
Breadth is the number of product lines that a firm maintains
Branding - CORRECT ANSWER includes slogans and logos
Core-customer value - CORRECT ANSWER the basic problem solving benefits that
consumers are seeking
brand repositioning - CORRECT ANSWER the strategy in which marketers change a brand's
focus to target new markets or realign the brand with changing market preferences
risks associated with brand licensing - CORRECT ANSWER diluting brand equity through
overexposure
undervaluing the brand in a licensing agreement
Firms decrease depth - CORRECT ANSWER refocus marketing efforts on profitable items
eliminate unprofitable items
Brands are most commonly owned by - CORRECT ANSWER manufacturers
labels must include - CORRECT ANSWER ingredients
where the product was made
safety precautions
QUESTIONS AND CORRECT ANSWERS
Product - CORRECT ANSWER associated services
actual product
features/design
brand name
label - CORRECT ANSWER provides the information consumers need to make their purchase
decisions
communication tool
Packaging provides benefits to - CORRECT ANSWER retailers
consumers
Co-branding risks - CORRECT ANSWER conflicts of interest between the co brands
customers for the brand being too different
augmented product - CORRECT ANSWER non physical aspects of the product like financing
and support of associated services
Product mix - CORRECT ANSWER all products and product lines offered by a firm
Premium brands - CORRECT ANSWER offer the consumer a private label that is at least
comparable and generally superior to a manufacturer's brand quality
Shopping good - CORRECT ANSWER consumer durables like a washer or refrigerator-
buyers make a lot of comparisons and do not know which brand before the process
Specialty good - CORRECT ANSWER compares many alternatives, lots of time and effort
involved and consumer has a good idea of the brand before searching
, iphone
Brand equity - CORRECT ANSWER assets and liabilities linked to a brand that add or subtract
from a product or service
Which does not actually constitute a product that can be individually valued by the consumer so he is
willing to make an exchange - CORRECT ANSWER shipment of goods to target store-the
consumer does not directly pay for the delivery of the goods
Depth vs Breadth - CORRECT ANSWER Depth is the number of items in a product line
Breadth is the number of product lines that a firm maintains
Branding - CORRECT ANSWER includes slogans and logos
Core-customer value - CORRECT ANSWER the basic problem solving benefits that
consumers are seeking
brand repositioning - CORRECT ANSWER the strategy in which marketers change a brand's
focus to target new markets or realign the brand with changing market preferences
risks associated with brand licensing - CORRECT ANSWER diluting brand equity through
overexposure
undervaluing the brand in a licensing agreement
Firms decrease depth - CORRECT ANSWER refocus marketing efforts on profitable items
eliminate unprofitable items
Brands are most commonly owned by - CORRECT ANSWER manufacturers
labels must include - CORRECT ANSWER ingredients
where the product was made
safety precautions
