MARKETING 201 FINAL EXAM STUDY TERMS
QUESTIONS WITH ACCURATE ANSWERS
Advantages to primary research correct answer specific to immediate needs of
firm
can limit bias
Advantages to secondary research correct answer saves time
can be free or inexpensive
Associated services/Augmented product correct answer the non-physical
attributes of the product including product warranties, financing, product
support, and after-sale service
Benefits of internet/multichannel retailing correct answer deeper/broader
selection
personalization
gain insights into consumer shopping behavior
increase customer satisfaction and loyalty
expand market presence
Benefits of shopping in stores for customers correct answer browsing
touching and feeling
personal service
cash and credit
entertainment and social interaction
,instant gratification
risk reduction (internet security, credit cards, etc)
Brand associations correct answer the mental links that consumers make
between a brand and its key product attributes; can involve a logo, slogan, or
famous personality
Brand awareness correct answer measures how many consumers in a market are
familiar with the brand and what it stands for; created through repeated
exposures of the various brand elements in the firm's communications to
consumers
Brand dilution correct answer occurs when a brand extension adversely affects
consumer perceptions about the attributes the core brand is believed to hold
Brand elements correct answer brand name, logo, symbol, character, packaging,
or slogan
Brand equity correct answer the set of assets and liabilities linked to a brand that
add to or subtract from the value provided by the product or service
Brand extension correct answer the use of the same brand name for new
products being introduced to the same or new markets or categories, reduces
probability of failure
Brand loyalty correct answer occurs when a consumer buys the same brand's
product or service repeatedly over time rather than buying from multiple
suppliers within the same category. less sensitive to price.
, Brand ownership correct answer manufacturer or national brands
private label, store, house, or own brands (more profitable)
exclusive co-brands (makes your store unique)
premium brands (comparable/superior to manufacturer)
generic brands (no-frills, low price)
copycat brands (mimic a manufacturer brand in appearance, lower quality, lower
price)
Brand personality correct answer refers to a set of human characteristics
associated with a brand, which has symbolic or self-expressive meanings for
consumers
Brand repositioning/rebranding correct answer marketer's change a brand's focus
to target new markets or realign the brand's core emphasis with changing market
preferences
Branding correct answer can use name, logo, symbols, characters, slogans, jingles,
or even distinctive packages to create a brand
Breadth correct answer number of product lines offered by a firm, also known as
variety
Channel member characteristics correct answer larger firms are less likely to use
supply chain intermediaries (buy directly from supplier), can gain more control,
lower costs, etc.
QUESTIONS WITH ACCURATE ANSWERS
Advantages to primary research correct answer specific to immediate needs of
firm
can limit bias
Advantages to secondary research correct answer saves time
can be free or inexpensive
Associated services/Augmented product correct answer the non-physical
attributes of the product including product warranties, financing, product
support, and after-sale service
Benefits of internet/multichannel retailing correct answer deeper/broader
selection
personalization
gain insights into consumer shopping behavior
increase customer satisfaction and loyalty
expand market presence
Benefits of shopping in stores for customers correct answer browsing
touching and feeling
personal service
cash and credit
entertainment and social interaction
,instant gratification
risk reduction (internet security, credit cards, etc)
Brand associations correct answer the mental links that consumers make
between a brand and its key product attributes; can involve a logo, slogan, or
famous personality
Brand awareness correct answer measures how many consumers in a market are
familiar with the brand and what it stands for; created through repeated
exposures of the various brand elements in the firm's communications to
consumers
Brand dilution correct answer occurs when a brand extension adversely affects
consumer perceptions about the attributes the core brand is believed to hold
Brand elements correct answer brand name, logo, symbol, character, packaging,
or slogan
Brand equity correct answer the set of assets and liabilities linked to a brand that
add to or subtract from the value provided by the product or service
Brand extension correct answer the use of the same brand name for new
products being introduced to the same or new markets or categories, reduces
probability of failure
Brand loyalty correct answer occurs when a consumer buys the same brand's
product or service repeatedly over time rather than buying from multiple
suppliers within the same category. less sensitive to price.
, Brand ownership correct answer manufacturer or national brands
private label, store, house, or own brands (more profitable)
exclusive co-brands (makes your store unique)
premium brands (comparable/superior to manufacturer)
generic brands (no-frills, low price)
copycat brands (mimic a manufacturer brand in appearance, lower quality, lower
price)
Brand personality correct answer refers to a set of human characteristics
associated with a brand, which has symbolic or self-expressive meanings for
consumers
Brand repositioning/rebranding correct answer marketer's change a brand's focus
to target new markets or realign the brand's core emphasis with changing market
preferences
Branding correct answer can use name, logo, symbols, characters, slogans, jingles,
or even distinctive packages to create a brand
Breadth correct answer number of product lines offered by a firm, also known as
variety
Channel member characteristics correct answer larger firms are less likely to use
supply chain intermediaries (buy directly from supplier), can gain more control,
lower costs, etc.
