BUS 360 - Exam 3 Questions with Correct Answers Latest Update 2025/2026
anything that is of value to a customer and can be offered through a voluntary marketing
exchange - Answers product
the complete set of all products offered by a firm. Typically it consists of groups of associated
items which consumers might use together or think of as a group of similar products - Answers
product assortment/product mix
groups of associated items, including those consumers use together or think of as part of a
group of similar products - Answers product lines
an assortment of items that the customer sees as reasonable substitutes for one another, all
offered by the same firm - Answers product category
the names, terms, design, symbols and other features that distinguish a seller's goods or
service from those of other sellers - Answers brands
the number of product lines or variety offered by a firm - Answers product line breadth
the number of categories within a product line - Answers product line depth
the number of individual items within a product category; the smallest unit available for
inventory control - Answers stock keeping units (SKUs)
number of stock keeping units within a category - Answers category depth
increasing BREADTH:
used to:
1. capture new or evolving m___
2. increase s___
3. c___ in new v___ - Answers markets
sales
venues
decreasing BREADTH:
used to:
,1. address changing m__ c___
2. p___ competitors while increasing s___ - Answers 1. market conditions
2. preempt; sales
increasing DEPTH:
used to:
1. address changing c___ p___
2. p___ competitors while increasing s__ - Answers 1. consumer preferences
2. preempt; sales
decreasing DEPTH:
used to:
-e___ u____ items
-refocus m___ efforts on more p___ items - Answers -eliminate unprofitable
-marketing; profitable
changing SKUs:
1. stimulate s___
2. react to consumer d___ - Answers 1. sales
2. demand
product line decisions for services:
many of the same product line strategies are used to make s___ decisions
ex. bank offer diff types of accounts for diff individual consumer needs - Answers service
,brand element:
spoken component of branding
can either describe product/service characteristics and/or can be composed of words invented
or derived from colloquial or contemporary language - Answers brand name
brand element:
the location of pages on the internet which often substitutes for the firm's name - Answers
URLs or Domain names
brand element:
visual branding elements that stand for corporate names or trademarks
symbols or logos without words - Answers symbols/logos
brand element:
brand symbols that could be human, animal, or animated - Answers characters
brand element:
short phrases used to describe the brand or persuade consumers about some characteristics of
the brand - Answers slogans
brand element:
audio messages about the brand that are composed of words or distinctive music - Answers
jingles
value of branding for customer and marketer:
, 1. facilitates p___
2. establishes l___
3. protects from c____
4. reduce marketing c___
5. represents an a___
6. impacts m__ v___ - Answers 1. purchasing
2. loyalty
3. competition
4. costs
5. asset
6. market value
value of branding for customer and marketer:
-EASILY recog by consumers
-signifies a certain QUALITY level
-helps consumers make QUICK decisions - Answers facilitates purchasing
value of branding for customer and marketer:
-consumers learn to TRUST specific brands
-consumers feel strong affinity towards brands - Answers establishes loyalty
value of branding for customer and marketer:
-strong brands have a more loyal customer base
-less impacted by competitive price pressures - Answers protects from competition
anything that is of value to a customer and can be offered through a voluntary marketing
exchange - Answers product
the complete set of all products offered by a firm. Typically it consists of groups of associated
items which consumers might use together or think of as a group of similar products - Answers
product assortment/product mix
groups of associated items, including those consumers use together or think of as part of a
group of similar products - Answers product lines
an assortment of items that the customer sees as reasonable substitutes for one another, all
offered by the same firm - Answers product category
the names, terms, design, symbols and other features that distinguish a seller's goods or
service from those of other sellers - Answers brands
the number of product lines or variety offered by a firm - Answers product line breadth
the number of categories within a product line - Answers product line depth
the number of individual items within a product category; the smallest unit available for
inventory control - Answers stock keeping units (SKUs)
number of stock keeping units within a category - Answers category depth
increasing BREADTH:
used to:
1. capture new or evolving m___
2. increase s___
3. c___ in new v___ - Answers markets
sales
venues
decreasing BREADTH:
used to:
,1. address changing m__ c___
2. p___ competitors while increasing s___ - Answers 1. market conditions
2. preempt; sales
increasing DEPTH:
used to:
1. address changing c___ p___
2. p___ competitors while increasing s__ - Answers 1. consumer preferences
2. preempt; sales
decreasing DEPTH:
used to:
-e___ u____ items
-refocus m___ efforts on more p___ items - Answers -eliminate unprofitable
-marketing; profitable
changing SKUs:
1. stimulate s___
2. react to consumer d___ - Answers 1. sales
2. demand
product line decisions for services:
many of the same product line strategies are used to make s___ decisions
ex. bank offer diff types of accounts for diff individual consumer needs - Answers service
,brand element:
spoken component of branding
can either describe product/service characteristics and/or can be composed of words invented
or derived from colloquial or contemporary language - Answers brand name
brand element:
the location of pages on the internet which often substitutes for the firm's name - Answers
URLs or Domain names
brand element:
visual branding elements that stand for corporate names or trademarks
symbols or logos without words - Answers symbols/logos
brand element:
brand symbols that could be human, animal, or animated - Answers characters
brand element:
short phrases used to describe the brand or persuade consumers about some characteristics of
the brand - Answers slogans
brand element:
audio messages about the brand that are composed of words or distinctive music - Answers
jingles
value of branding for customer and marketer:
, 1. facilitates p___
2. establishes l___
3. protects from c____
4. reduce marketing c___
5. represents an a___
6. impacts m__ v___ - Answers 1. purchasing
2. loyalty
3. competition
4. costs
5. asset
6. market value
value of branding for customer and marketer:
-EASILY recog by consumers
-signifies a certain QUALITY level
-helps consumers make QUICK decisions - Answers facilitates purchasing
value of branding for customer and marketer:
-consumers learn to TRUST specific brands
-consumers feel strong affinity towards brands - Answers establishes loyalty
value of branding for customer and marketer:
-strong brands have a more loyal customer base
-less impacted by competitive price pressures - Answers protects from competition
