MARK 201 FINAL QUESTIONS WITH ACCURATE
ANSWERS
3 forms of advertising correct answer 1) informative advertising = inform about
products
(build demand and awareness)
2) persuasive advertising = offering better than others
(increase market share)
3) reminder advertising = brand in customer mind (maintain customer
relationships, increase retention rate)
3 types of research correct answer 1) exploratory - preliminary data
2) descriptive - describe problem, situations
3) casual - hypothesis testing
3 value based strategies correct answer 1) good value pricing - work to provide
everyday low prices
2) high low pricing - high prices but running frequent promotions
3) value added pricing- adding features to differentiate your offering and charge
higher price
5 steps in effective advertising correct answer 1) setting objectives
2) budget decisions
3) message decisions
4) media decisions
5) advertising evaluation
, Brand correct answer brand names and brand marks (starbucks and siren logo)
brand equity correct answer value of one brand over another as measured by the
perception of customers
brand positioning correct answer space a brand occupies in a consumers mind
brand sponsorships correct answer 1) national brand - created by the
manufacturer of the product
2) licensing - royalties paid in exchange for the use of the name on your product
3) private brand - follower brand and store brand (no name brand)
4) co branding - 2 existing brands to create one new brand
buyer readiness stages correct answer 1) awareness
2) knowledge
3) liking
4) preferences
5) conviction
6) purchase
channel design correct answer 1) analyzing customer needs; cost, variety of
products and delivery speed
2) setting channel objectives - depending on company and financial positions
3) setting alternatives - number of channels and type of intermediaries
ANSWERS
3 forms of advertising correct answer 1) informative advertising = inform about
products
(build demand and awareness)
2) persuasive advertising = offering better than others
(increase market share)
3) reminder advertising = brand in customer mind (maintain customer
relationships, increase retention rate)
3 types of research correct answer 1) exploratory - preliminary data
2) descriptive - describe problem, situations
3) casual - hypothesis testing
3 value based strategies correct answer 1) good value pricing - work to provide
everyday low prices
2) high low pricing - high prices but running frequent promotions
3) value added pricing- adding features to differentiate your offering and charge
higher price
5 steps in effective advertising correct answer 1) setting objectives
2) budget decisions
3) message decisions
4) media decisions
5) advertising evaluation
, Brand correct answer brand names and brand marks (starbucks and siren logo)
brand equity correct answer value of one brand over another as measured by the
perception of customers
brand positioning correct answer space a brand occupies in a consumers mind
brand sponsorships correct answer 1) national brand - created by the
manufacturer of the product
2) licensing - royalties paid in exchange for the use of the name on your product
3) private brand - follower brand and store brand (no name brand)
4) co branding - 2 existing brands to create one new brand
buyer readiness stages correct answer 1) awareness
2) knowledge
3) liking
4) preferences
5) conviction
6) purchase
channel design correct answer 1) analyzing customer needs; cost, variety of
products and delivery speed
2) setting channel objectives - depending on company and financial positions
3) setting alternatives - number of channels and type of intermediaries
