MAR 3023 Exam 3 ucf QUESTIONS WITH ANSWERS

MAR 3023 Exam 3 ucf QUESTIONS WITH \| \| \| \| \| \| \|




ANSWERS

product assortment (product mix) - CORRECT ANSWERS ✔✔the
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complete set of all products offered by a firm \| \| \| \| \| \| \| \|




Product lines - CORRECT ANSWERS ✔✔a group of related
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products under a single brand sold by the same company.
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4 types of products - CORRECT ANSWERS ✔✔convenience,
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shopping, specialty, unsought \| \|




Change Product Mix Breadth - CORRECT ANSWERS ✔✔• Increase
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Breadth
- True Religion Brand Jeans now are a lifestyle brand with apparel,
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belts, swimwear and fragrances
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• Decrease Breadth
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- Due to competitive changes, TCBY is now focusing on Yogurt.
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Change Product Mix Depth - CORRECT ANSWERS ✔✔Increase
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Depth: Band-Aid now has over 40 products to heal cuts
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Decrease Depth: McCormick spices eliminates dozens of
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products each year \| \|




Top 5 Global Brands - CORRECT ANSWERS ✔✔1.Apple
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, 2.Google \|




3.Microsoft \|




4.Coke
5.Amazon


What makes a brand? - CORRECT ANSWERS ✔✔brand name,
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URLs, logos and symbols, characters, slogans, jingles/sounds
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Product Line Decisions - CORRECT ANSWERS ✔✔How is this
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changing the product mix? \| \| \|




Does it increase breadth or depth?
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Is this research or advertising?
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brand elements - CORRECT ANSWERS ✔✔different components
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of a brand that identify and differentiate it
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Ways in which brands add value for both customers and the
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firm - CORRECT ANSWERS ✔✔- Brands facilitate purchasing
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- Brands establish loyalty
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- Brands protect from competition and price
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\| competition
- Brands reduce marketing costs
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- Brands are assets
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- Brands impact market value
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