MKTG 320 ACTUAL EXAM 2024-2025
QUESTIONS AND WELL DETAILED
CORRECT ANSWERS ALREADY
GRADED A++
Product
CORRECT ANSWERS - everything, both favorable and unfavorable, that a
person receives in an exchange
business product (industrial product)
- CORRECT ANSWERS - a product used to manufacture other goods or
services, to facilitate an organization's operations, or to resell to other customers
consumer product
- CORRECT ANSWERS - a product bought to satisfy an individual's personal
wants or needs
convenience product
- CORRECT ANSWERS - a relatively inexpensive item that merits little
shopping effort
shopping product
- CORRECT ANSWERS - a product that requires comparison shopping
because it is usually more expensive than a convince product and is found in
fewer stores
specialty product
- CORRECT ANSWERS - a particular item for which consumers search
extensively and are very reluctant to accept substitutes
,unsought product
- CORRECT ANSWERS - a product unknown to the potential buyer or a
known product that the buyer does not actively seek
product item
- CORRECT ANSWERS - a specific version of a product that can be
designated as a distinct offering among an organization's products
product line
- CORRECT ANSWERS - a group of closely related product items
product mix
- CORRECT ANSWERS - all products that an organization sells
product mix width
- CORRECT ANSWERS - the number of product lines an organization offers
product line depth
- CORRECT ANSWERS - the number of product lines an organization offers
product modification
- CORRECT ANSWERS - changing one or more of a product's characteristics
planned obsolescence
- CORRECT ANSWERS - the practice of modifying products so those that
have already been sold become obsolete before they actually need replacement
,product line extension
- CORRECT ANSWERS - adding additional products to an existing product
line in order to compete more broadly in the industry
Brand
- CORRECT ANSWERS - a name, term, symbol, design, or combination
thereof that identifies a seller's products and differentiates them from
competitors' products
brand name
- CORRECT ANSWERS - that part of a brand that can be spoken, including
letters, words, and numbers
brand mark
- CORRECT ANSWERS - the elements of a brand that cannot be spoken
brand equity
- CORRECT ANSWERS - the value of a company or brand name
global brand - CORRECT ANSWERS - a brand that obtains at least a one-
third of its earnings from outside its home country, is recognizable outside its
home base of customers, and has publicly available marketing and financial data
brand loyalty - CORRECT ANSWERS - consistent preference for one brand
over all others
manufacturer's brand - CORRECT ANSWERS - the brand name of a
manufacturer
, private brand - CORRECT ANSWERS - a brand name owned by a wholesaler
or a retailer
captive brand - CORRECT ANSWERS - a brand manufactured by a third
party for an exclusive retailer, without evidence of that retail's affiliation
individual branding - CORRECT ANSWERS - using different brand names
for different products
family branding - CORRECT ANSWERS - marketing several different
products under the same brand name
co-branding - CORRECT ANSWERS - placing two or more brand names on a
product or its package
trademark - CORRECT ANSWERS - the exclusive right to use a brand or part
of a brand
service mark - CORRECT ANSWERS - a trademark for a service
generic product name - CORRECT ANSWERS - identifies a product by class
or type and cannot be trademarked
persuasive labeling - CORRECT ANSWERS - a type of package labeling that
focuses on a promotional theme or logo, and consumer information is secondary
informational labeling - CORRECT ANSWERS - a type of package leveling
designed to help consumers make proper product selections and lower their
cognitive dissonance after the purchase
QUESTIONS AND WELL DETAILED
CORRECT ANSWERS ALREADY
GRADED A++
Product
CORRECT ANSWERS - everything, both favorable and unfavorable, that a
person receives in an exchange
business product (industrial product)
- CORRECT ANSWERS - a product used to manufacture other goods or
services, to facilitate an organization's operations, or to resell to other customers
consumer product
- CORRECT ANSWERS - a product bought to satisfy an individual's personal
wants or needs
convenience product
- CORRECT ANSWERS - a relatively inexpensive item that merits little
shopping effort
shopping product
- CORRECT ANSWERS - a product that requires comparison shopping
because it is usually more expensive than a convince product and is found in
fewer stores
specialty product
- CORRECT ANSWERS - a particular item for which consumers search
extensively and are very reluctant to accept substitutes
,unsought product
- CORRECT ANSWERS - a product unknown to the potential buyer or a
known product that the buyer does not actively seek
product item
- CORRECT ANSWERS - a specific version of a product that can be
designated as a distinct offering among an organization's products
product line
- CORRECT ANSWERS - a group of closely related product items
product mix
- CORRECT ANSWERS - all products that an organization sells
product mix width
- CORRECT ANSWERS - the number of product lines an organization offers
product line depth
- CORRECT ANSWERS - the number of product lines an organization offers
product modification
- CORRECT ANSWERS - changing one or more of a product's characteristics
planned obsolescence
- CORRECT ANSWERS - the practice of modifying products so those that
have already been sold become obsolete before they actually need replacement
,product line extension
- CORRECT ANSWERS - adding additional products to an existing product
line in order to compete more broadly in the industry
Brand
- CORRECT ANSWERS - a name, term, symbol, design, or combination
thereof that identifies a seller's products and differentiates them from
competitors' products
brand name
- CORRECT ANSWERS - that part of a brand that can be spoken, including
letters, words, and numbers
brand mark
- CORRECT ANSWERS - the elements of a brand that cannot be spoken
brand equity
- CORRECT ANSWERS - the value of a company or brand name
global brand - CORRECT ANSWERS - a brand that obtains at least a one-
third of its earnings from outside its home country, is recognizable outside its
home base of customers, and has publicly available marketing and financial data
brand loyalty - CORRECT ANSWERS - consistent preference for one brand
over all others
manufacturer's brand - CORRECT ANSWERS - the brand name of a
manufacturer
, private brand - CORRECT ANSWERS - a brand name owned by a wholesaler
or a retailer
captive brand - CORRECT ANSWERS - a brand manufactured by a third
party for an exclusive retailer, without evidence of that retail's affiliation
individual branding - CORRECT ANSWERS - using different brand names
for different products
family branding - CORRECT ANSWERS - marketing several different
products under the same brand name
co-branding - CORRECT ANSWERS - placing two or more brand names on a
product or its package
trademark - CORRECT ANSWERS - the exclusive right to use a brand or part
of a brand
service mark - CORRECT ANSWERS - a trademark for a service
generic product name - CORRECT ANSWERS - identifies a product by class
or type and cannot be trademarked
persuasive labeling - CORRECT ANSWERS - a type of package labeling that
focuses on a promotional theme or logo, and consumer information is secondary
informational labeling - CORRECT ANSWERS - a type of package leveling
designed to help consumers make proper product selections and lower their
cognitive dissonance after the purchase
