COB 300D Test #2 Questions and
Answers|Latest Update
SERVICE PROFIT CHAIN Correct Answ_chain that links service firm profits with
employee and customer satisfaction
INTERNAL MARKETING Correct Answ_orienting and motivating customer-contact
employees and supporting service employees to work as a team to provide customer satisfaction
INTERACTIVE MARKETING Correct Answ_training service employees in the fine art of
interacting with customers to satisfy their needs
BRAND EQUITY Correct Answ_differential effect that knowing brand name has on
customer response to the product or its marketing
BRAND VALUE Correct Answ_total financial value of a brand
STORE BRANDS (PRIVATE BRANDS) Correct Answ_brand created and owned by a
reseller of a product or service
,CO-BRANDING Correct Answ_practice of using the established brand names of two
different companies on the same product
LINE EXTENSIONS Correct Answ_extending an existing brand name to new forms, colors,
sizes, ingredients, or flavors of an existing product category
BRAND EXTENSION Correct Answ_extending an existing brand name to new product
categories [i.e.crest toothpaste --> whitening strips --> mouthwash]
NEW PRODUCT DEVELOPMENT Correct Answ_development of original products,
product improvements, product modifications, and new brands through the firm's own product
development efforts
IDEA GENERATION Correct Answ_systematic search for new product ideas
CROWDSOURCING Correct Answ_inviting broad communities of people- customers,
employees, independent scientists and researchers, and even the public at large- into the new
product innovation process
, IDEA SCREENING Correct Answ_screening new product ideas to spot good ones and drop
poor ones as soon as possible
PRODUCT CONCEPT Correct Answ_detailed version of the new product idea stated in
meaningful consumer terms
CONCEPT TESTING Correct Answ_testing new product concepts with a group of target
customers to find out if the concepts have strong consumer appeal
MARKETING STRATEGY DEVELOPMENT Correct Answ_designing an initial marketing
strategy for a new product based on the product concept
BUSINESS ANALYSIS Correct Answ_review of the sales, costs, and profit projections for a
new product to find out whether these factors satisfy the company's objectives
PRODUCT DEVELOPMENT Correct Answ_developing the product concept into a physical
product to ensure that the product idea can be turned into a workable market offering
Answers|Latest Update
SERVICE PROFIT CHAIN Correct Answ_chain that links service firm profits with
employee and customer satisfaction
INTERNAL MARKETING Correct Answ_orienting and motivating customer-contact
employees and supporting service employees to work as a team to provide customer satisfaction
INTERACTIVE MARKETING Correct Answ_training service employees in the fine art of
interacting with customers to satisfy their needs
BRAND EQUITY Correct Answ_differential effect that knowing brand name has on
customer response to the product or its marketing
BRAND VALUE Correct Answ_total financial value of a brand
STORE BRANDS (PRIVATE BRANDS) Correct Answ_brand created and owned by a
reseller of a product or service
,CO-BRANDING Correct Answ_practice of using the established brand names of two
different companies on the same product
LINE EXTENSIONS Correct Answ_extending an existing brand name to new forms, colors,
sizes, ingredients, or flavors of an existing product category
BRAND EXTENSION Correct Answ_extending an existing brand name to new product
categories [i.e.crest toothpaste --> whitening strips --> mouthwash]
NEW PRODUCT DEVELOPMENT Correct Answ_development of original products,
product improvements, product modifications, and new brands through the firm's own product
development efforts
IDEA GENERATION Correct Answ_systematic search for new product ideas
CROWDSOURCING Correct Answ_inviting broad communities of people- customers,
employees, independent scientists and researchers, and even the public at large- into the new
product innovation process
, IDEA SCREENING Correct Answ_screening new product ideas to spot good ones and drop
poor ones as soon as possible
PRODUCT CONCEPT Correct Answ_detailed version of the new product idea stated in
meaningful consumer terms
CONCEPT TESTING Correct Answ_testing new product concepts with a group of target
customers to find out if the concepts have strong consumer appeal
MARKETING STRATEGY DEVELOPMENT Correct Answ_designing an initial marketing
strategy for a new product based on the product concept
BUSINESS ANALYSIS Correct Answ_review of the sales, costs, and profit projections for a
new product to find out whether these factors satisfy the company's objectives
PRODUCT DEVELOPMENT Correct Answ_developing the product concept into a physical
product to ensure that the product idea can be turned into a workable market offering
