GB 350 Exam 3 Cascio
Functions and activities of channel intermediaries - CORRECT ANSWER-- merchant
wholesaler or distributor
- retailer
- agent and broker
Merchant wholesaler and/or distributor - CORRECT ANSWER-facilitate the movement
of products and services from the manufacturer to procedures, resellers, governments,
institutions, and retailers
Retailer - CORRECT ANSWER-offers an assortment of manufacturer's
products/services to end customers
Agent and broker - CORRECT ANSWER-represent the interests of retailers,
wholesalers, and manufacturers to potential customers in the marketing channel for a
fee or commission
Equivalent quality - CORRECT ANSWER-line items perceived as having similar quality
Advertising economies - CORRECT ANSWER-spread costs of promotion for multiple
items
Standardized components - CORRECT ANSWER-product lines allow firms to
standardize components, this reducing manufacturing and inventory costs
Efficient sales and distribution - CORRECT ANSWER-enables a targeted range of
choices to customers. which results in better distribution and retail coverage
Adjustments - CORRECT ANSWER-product items
product mixes
product lines
Product item adjustments - CORRECT ANSWER-product modifications that add,
remove, or change user capabilities
Product mix and line adjustments - CORRECT ANSWER-a company can adjust its
product mix by adding or removing a product line
Brand - CORRECT ANSWER-an essential component of product strategy
- name, term, symbols, design, or combination that identifies a seller's products and
differentiates them from competitor's
, Brand name - CORRECT ANSWER-part of a brand that can be spoken, including
letters, words, and numbers
Brand mark - CORRECT ANSWER-elements of a brand that cannot be spoken
Brand equity - CORRECT ANSWER-value of a company or brand name
Global brand - CORRECT ANSWER-brand that obtains at least one-third of its earnings
form outside its home country
Brand loyalty - CORRECT ANSWER-consistent preference for one brand over all others
Manufacturer's brand - CORRECT ANSWER-manufacturer produces and markets
brand under its own brand names
Product - CORRECT ANSWER-everything, both favorable and unfavorable, that a
person receives in an exchange
- tangingle goods
- services
- ideas
Business product - CORRECT ANSWER-a product used to manufacture other goods or
services, to facilitate an organization's operations, or to resell to other cusotmers
Consumer product - CORRECT ANSWER-a product bought to satisfy an individual's
personal wants or use
Types of consumer product purchases - CORRECT ANSWER-convenience, shopping,
specialty, unsought
Convenience consumer product purchase - CORRECT ANSWER-inexpensive items
that merit little shopping effort
Shopping consumer product purchase - CORRECT ANSWER-require comparison
shopping
Specialty consumer product purchases - CORRECT ANSWER-particular items for
which consumers search extensively and are reluctant to accept substitutes
Unsought consumer product purchase - CORRECT ANSWER-products unknown to the
potential buyer OR known products that the buyer does not actively seek
Product items - CORRECT ANSWER-specific versions of a product that can be
designated as a distinct offering among an organization's products
Functions and activities of channel intermediaries - CORRECT ANSWER-- merchant
wholesaler or distributor
- retailer
- agent and broker
Merchant wholesaler and/or distributor - CORRECT ANSWER-facilitate the movement
of products and services from the manufacturer to procedures, resellers, governments,
institutions, and retailers
Retailer - CORRECT ANSWER-offers an assortment of manufacturer's
products/services to end customers
Agent and broker - CORRECT ANSWER-represent the interests of retailers,
wholesalers, and manufacturers to potential customers in the marketing channel for a
fee or commission
Equivalent quality - CORRECT ANSWER-line items perceived as having similar quality
Advertising economies - CORRECT ANSWER-spread costs of promotion for multiple
items
Standardized components - CORRECT ANSWER-product lines allow firms to
standardize components, this reducing manufacturing and inventory costs
Efficient sales and distribution - CORRECT ANSWER-enables a targeted range of
choices to customers. which results in better distribution and retail coverage
Adjustments - CORRECT ANSWER-product items
product mixes
product lines
Product item adjustments - CORRECT ANSWER-product modifications that add,
remove, or change user capabilities
Product mix and line adjustments - CORRECT ANSWER-a company can adjust its
product mix by adding or removing a product line
Brand - CORRECT ANSWER-an essential component of product strategy
- name, term, symbols, design, or combination that identifies a seller's products and
differentiates them from competitor's
, Brand name - CORRECT ANSWER-part of a brand that can be spoken, including
letters, words, and numbers
Brand mark - CORRECT ANSWER-elements of a brand that cannot be spoken
Brand equity - CORRECT ANSWER-value of a company or brand name
Global brand - CORRECT ANSWER-brand that obtains at least one-third of its earnings
form outside its home country
Brand loyalty - CORRECT ANSWER-consistent preference for one brand over all others
Manufacturer's brand - CORRECT ANSWER-manufacturer produces and markets
brand under its own brand names
Product - CORRECT ANSWER-everything, both favorable and unfavorable, that a
person receives in an exchange
- tangingle goods
- services
- ideas
Business product - CORRECT ANSWER-a product used to manufacture other goods or
services, to facilitate an organization's operations, or to resell to other cusotmers
Consumer product - CORRECT ANSWER-a product bought to satisfy an individual's
personal wants or use
Types of consumer product purchases - CORRECT ANSWER-convenience, shopping,
specialty, unsought
Convenience consumer product purchase - CORRECT ANSWER-inexpensive items
that merit little shopping effort
Shopping consumer product purchase - CORRECT ANSWER-require comparison
shopping
Specialty consumer product purchases - CORRECT ANSWER-particular items for
which consumers search extensively and are reluctant to accept substitutes
Unsought consumer product purchase - CORRECT ANSWER-products unknown to the
potential buyer OR known products that the buyer does not actively seek
Product items - CORRECT ANSWER-specific versions of a product that can be
designated as a distinct offering among an organization's products
