MAR 4156 Final Exam Questions with Correct
Answers
Product components Correct Answer-Core components
Packaging components
Service components
Core components Correct Answer-consists of the physical product—the
platform that contains the essential technology—and all its design and
functional features.
• Product platform
• Design features
• Functional features
Packaging components Correct Answer-includes style features,
packaging, labeling, trademarks, brand name, quality, price, and all other
aspects of a product's package
Service components Correct Answer-support services component
includes repair and maintenance, instructions, installation, warranties,
deliveries, and the availability of spare parts.
Product's tangible attributes Correct Answer-can be assessed in physical
terms such as weight, dimensions, or materials used.
For example, a flat-panel TV with an LCD screen that measures 42
inches across. The unit weighs 100 pounds, is four inches thick, and has
a tuner capable of receiving high-definition TV signals over the air.
,Intangible product attributes Correct Answer-including status associated
with product ownership, a manufacturer's service commitment, and a
brand's overall reputation or mystique, are also important.
For example: "the best" tv or "cool" tv
Product classification Correct Answer--Consumer goods
-Industrial goods
Consumer goods Correct Answer-are in their final form and are
consumed by individuals.
-consumed for satisfaction
Industrial goods Correct Answer-are used in the process of creating
other goods
and services.
-consumed for profit
Buyer orientation Correct Answer-is a composite measure of the amount
of effort a customer expends, the level of risk associated with a
purchase, and buyer involvement in the purchase.
Buyer orientation framework Correct Answer-includes such categories
as convenience, preference, shopping, and specialty goods.
, Brand Correct Answer--Bundle of images and experiences in the
customer's mind
-A promise made by a particular company about a particular product
-A quality certification
-Differentiation between competing products
-Companies develop logos, distinctive packaging, and other
communication devices to provide visual representations of their brands.
Brand Image Correct Answer-the sum of impressions about a brand
Brand Equity Correct Answer--The added value that accrues to a
product as a result of investments in the marketing of the brand
-An asset that represents the value created by the relationship between
the brand and customer over time
Brand Equity Benefits Correct Answer--Greater loyalty
-Less vulnerability to marketing actions
-Less vulnerability to marketing crises
-Larger margins
-More inelastic(insensitive) consumer response to price increases
-More elastic(sensitive) consumer response to price decreases
-Increased marketing communication effectiveness
Local Brand Correct Answer--Brands that have achieved success in a
single national market
Answers
Product components Correct Answer-Core components
Packaging components
Service components
Core components Correct Answer-consists of the physical product—the
platform that contains the essential technology—and all its design and
functional features.
• Product platform
• Design features
• Functional features
Packaging components Correct Answer-includes style features,
packaging, labeling, trademarks, brand name, quality, price, and all other
aspects of a product's package
Service components Correct Answer-support services component
includes repair and maintenance, instructions, installation, warranties,
deliveries, and the availability of spare parts.
Product's tangible attributes Correct Answer-can be assessed in physical
terms such as weight, dimensions, or materials used.
For example, a flat-panel TV with an LCD screen that measures 42
inches across. The unit weighs 100 pounds, is four inches thick, and has
a tuner capable of receiving high-definition TV signals over the air.
,Intangible product attributes Correct Answer-including status associated
with product ownership, a manufacturer's service commitment, and a
brand's overall reputation or mystique, are also important.
For example: "the best" tv or "cool" tv
Product classification Correct Answer--Consumer goods
-Industrial goods
Consumer goods Correct Answer-are in their final form and are
consumed by individuals.
-consumed for satisfaction
Industrial goods Correct Answer-are used in the process of creating
other goods
and services.
-consumed for profit
Buyer orientation Correct Answer-is a composite measure of the amount
of effort a customer expends, the level of risk associated with a
purchase, and buyer involvement in the purchase.
Buyer orientation framework Correct Answer-includes such categories
as convenience, preference, shopping, and specialty goods.
, Brand Correct Answer--Bundle of images and experiences in the
customer's mind
-A promise made by a particular company about a particular product
-A quality certification
-Differentiation between competing products
-Companies develop logos, distinctive packaging, and other
communication devices to provide visual representations of their brands.
Brand Image Correct Answer-the sum of impressions about a brand
Brand Equity Correct Answer--The added value that accrues to a
product as a result of investments in the marketing of the brand
-An asset that represents the value created by the relationship between
the brand and customer over time
Brand Equity Benefits Correct Answer--Greater loyalty
-Less vulnerability to marketing actions
-Less vulnerability to marketing crises
-Larger margins
-More inelastic(insensitive) consumer response to price increases
-More elastic(sensitive) consumer response to price decreases
-Increased marketing communication effectiveness
Local Brand Correct Answer--Brands that have achieved success in a
single national market
