MKTG 400 Exam questions and
answers graded A+
Introduction stage - ANS✅✅when a product is introduced to the target market, sales grow slowly
and profit is minimal, create consumer awareness and stimulate the initial purchase
Primary Demand - ANS✅✅the desire for the product class rather than for a specific brand
Selective Demand - ANS✅✅preference for a specific brand, more competitors
Growth stage - ANS✅✅rapid increase in sales, competitors appear, advertising shifts emphasis to
stimulating selective demand
Maturity stage - ANS✅✅slowing of total industry sales, competitors begin to leave the market,
marketing attention is directed toward holding market share through product differentiation
Decline stage - ANS✅✅stage that occurs when sales drop
Deletion - ANS✅✅a decline stage strategy that drops the product entirely from the company line
Harvesting - ANS✅✅a decline stage strategy when a company retains the product but reduces
marketing costs
High learning product - ANS✅✅significant customer education is required and there is an
extended introductory period
Low learning product - ANS✅✅little learning is required by the consumer and the benefits of
purchase are readily understood
Diffusion of innovation - ANS✅✅when a product diffuses, or spreads, through the population, the
rate at which consumers adopt a given product or service
, Product modification - ANS✅✅altering one or more of a product's characteristics, such as quality,
performance, or appearance to increase value
Market modification - ANS✅✅when a company tries to find new customers, increase a product's
use among existing customers, or create new use situations
Product repositioning - ANS✅✅changes the place a product occupies in a consumer's mind
Trading up - ANS✅✅adding value to the product through additional features or higher-quality
materials
Trading down - ANS✅✅reducing a product's number of features, quality, or price
Downsizing - ANS✅✅reducing package content without changing package size and price
Trademark - ANS✅✅A brand that has exclusive legal protection for both its brand name and its
design
Branding - ANS✅✅basic decision in marketing products in which an organization uses a name,
phrase, design, and symbols to identify its products
Brand name - ANS✅✅any word, device, to distinguish a seller's products or services (nike swoosh,
white Apple for Apple)
Multiproduct branding - ANS✅✅a company uses one name for all its products in a product class
Multibranding - ANS✅✅a branding strategy that involves giving each product a distinct name
Mixed branding - ANS✅✅a branding strategy where a firm markets products under its own
name(s) and that of a reseller because the segment attracted to the reseller is different from its own
market
Product line extension - ANS✅✅incremental improvement of an existing product line the company
already sells
answers graded A+
Introduction stage - ANS✅✅when a product is introduced to the target market, sales grow slowly
and profit is minimal, create consumer awareness and stimulate the initial purchase
Primary Demand - ANS✅✅the desire for the product class rather than for a specific brand
Selective Demand - ANS✅✅preference for a specific brand, more competitors
Growth stage - ANS✅✅rapid increase in sales, competitors appear, advertising shifts emphasis to
stimulating selective demand
Maturity stage - ANS✅✅slowing of total industry sales, competitors begin to leave the market,
marketing attention is directed toward holding market share through product differentiation
Decline stage - ANS✅✅stage that occurs when sales drop
Deletion - ANS✅✅a decline stage strategy that drops the product entirely from the company line
Harvesting - ANS✅✅a decline stage strategy when a company retains the product but reduces
marketing costs
High learning product - ANS✅✅significant customer education is required and there is an
extended introductory period
Low learning product - ANS✅✅little learning is required by the consumer and the benefits of
purchase are readily understood
Diffusion of innovation - ANS✅✅when a product diffuses, or spreads, through the population, the
rate at which consumers adopt a given product or service
, Product modification - ANS✅✅altering one or more of a product's characteristics, such as quality,
performance, or appearance to increase value
Market modification - ANS✅✅when a company tries to find new customers, increase a product's
use among existing customers, or create new use situations
Product repositioning - ANS✅✅changes the place a product occupies in a consumer's mind
Trading up - ANS✅✅adding value to the product through additional features or higher-quality
materials
Trading down - ANS✅✅reducing a product's number of features, quality, or price
Downsizing - ANS✅✅reducing package content without changing package size and price
Trademark - ANS✅✅A brand that has exclusive legal protection for both its brand name and its
design
Branding - ANS✅✅basic decision in marketing products in which an organization uses a name,
phrase, design, and symbols to identify its products
Brand name - ANS✅✅any word, device, to distinguish a seller's products or services (nike swoosh,
white Apple for Apple)
Multiproduct branding - ANS✅✅a company uses one name for all its products in a product class
Multibranding - ANS✅✅a branding strategy that involves giving each product a distinct name
Mixed branding - ANS✅✅a branding strategy where a firm markets products under its own
name(s) and that of a reseller because the segment attracted to the reseller is different from its own
market
Product line extension - ANS✅✅incremental improvement of an existing product line the company
already sells
