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MAR 3023 FINAL PRACTICE EXAMINATION 2026 QUESTIONS WITH ANSWERS GRADED A+

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MAR 3023 FINAL PRACTICE EXAMINATION 2026 QUESTIONS WITH ANSWERS GRADED A+

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MAR 3023 FINAL PRACTICE
EXAMINATION 2026 QUESTIONS WITH
ANSWERS GRADED A+

>> Product Strategy
Answer: Decisions on product mix, branding, packaging


>> Product Mix
Answer: Width, length, depth, consistency


>> Product Line
Answer: Group of related products


>> Product Item
Answer: Specific version


>> Line Extension
Answer: Variations (flavors, sizes)


>> Brand Extension
Answer: New category with same brand


>> Multibranding
Answer: Multiple brands in same category


>> New Product Strategy
Answer: Innovation types

, >> Continuous Innovation
Answer: Minor change


>> Dynamically Continuous Innovation
Answer: Noticeable change


>> Discontinuous Innovation
Answer: Major change


>> Adoption Process
Answer: Awareness → interest → evaluation → trial → adoption


>> Product Life Cycle Stages
Answer: Introduction → growth → maturity → decline


>> Introduction Stage
Answer: Low sales, high promotion


>> Growth Stage
Answer: Rapid sales, competition enters


>> Maturity Stage
Answer: Sales peak, price competition


>> Decline Stage
Answer: Sales fall, harvest or divest


>> Pricing Objectives
Answer: Survival, profit maximization, market share

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