COB 300D - Final Exam Questions with
Answers Verified by Experts
How a customer interacts with a product can be considered what type of segmentation variable?
Correct Answ_Behavioristic
The Consumer Buying Decision process has five stages, what is the fourth stage called, titled or
named? Correct Answ_Purchase
When marketers at Consolidated Chocolate Company tried to determine demand for their
product, they found that at 50 cents, consumers wanted 2,000 bars; at $1.00, they wanted 6,000
bars; and at $1.50, they wanted 4,000 bars. What can Consolidated conclude? Correct
Answ_Consolidated Chocolate Company is a prestige good
Sarah makes a special trip to purchase her favorite thumbprint cookies... What type of consumer
good are these cookies to Sarah? Correct Answ_Specialty
Of the following examples, which approach best represents MIXED branding? Correct
Answ_General Electric manufacturers both its own brand of GE dishwasher and another
dishwasher branded with the KENMORE name.
, When Sharp first introduced its line of graphing calculators, it set the price quite high; it has
lowered the price as competitors have entered the market. The pricing strategy initially used by
Sharp is called Correct Answ_Price skimming
The classifications of innovators, early adopters, early majority, late majority, and laggards are
all based on Correct Answ_When consumers begin buying a new product
Under known circumstances and normal product identification, Kellogg's company branding
approach Correct Answ_Multiproduct branding and multibranding approach
Betty Smith operates a wedding preparation service that aids brides-to-be in the planning of their
weddings by providing the necessary equipment, supplies, and services. To maintain a quality
image and a standardized offering, Betty provides extensive training for each of her employees.
What unique aspect of services is Betty trying to address? Correct Answ_Inconsistency
Which of the following statement about price elasticity of demand is the MOST accurate?
Correct Answ_The more substitutes a product has, the more likely it is to be price elastic
Answers Verified by Experts
How a customer interacts with a product can be considered what type of segmentation variable?
Correct Answ_Behavioristic
The Consumer Buying Decision process has five stages, what is the fourth stage called, titled or
named? Correct Answ_Purchase
When marketers at Consolidated Chocolate Company tried to determine demand for their
product, they found that at 50 cents, consumers wanted 2,000 bars; at $1.00, they wanted 6,000
bars; and at $1.50, they wanted 4,000 bars. What can Consolidated conclude? Correct
Answ_Consolidated Chocolate Company is a prestige good
Sarah makes a special trip to purchase her favorite thumbprint cookies... What type of consumer
good are these cookies to Sarah? Correct Answ_Specialty
Of the following examples, which approach best represents MIXED branding? Correct
Answ_General Electric manufacturers both its own brand of GE dishwasher and another
dishwasher branded with the KENMORE name.
, When Sharp first introduced its line of graphing calculators, it set the price quite high; it has
lowered the price as competitors have entered the market. The pricing strategy initially used by
Sharp is called Correct Answ_Price skimming
The classifications of innovators, early adopters, early majority, late majority, and laggards are
all based on Correct Answ_When consumers begin buying a new product
Under known circumstances and normal product identification, Kellogg's company branding
approach Correct Answ_Multiproduct branding and multibranding approach
Betty Smith operates a wedding preparation service that aids brides-to-be in the planning of their
weddings by providing the necessary equipment, supplies, and services. To maintain a quality
image and a standardized offering, Betty provides extensive training for each of her employees.
What unique aspect of services is Betty trying to address? Correct Answ_Inconsistency
Which of the following statement about price elasticity of demand is the MOST accurate?
Correct Answ_The more substitutes a product has, the more likely it is to be price elastic
