Marketing 300 Final Exam (UW-Madison) –
Questions and Answers
Product - -the need-satisfying offering of a firm
-Product assortment - -the set of all product lines and individual products that a firms
sells.
-Quality - -a product's ability to satisfy a customer's needs or requirements
-Individual product - -a particular product within a product line
-Product line - -a set of individual products that are closely related
-Branding - -the use of a name, term, symbol, or design - or a combination of these - to
identify a product
-Brand name - -a word, letter, or a group of words or letters
-Trademark - -those words, symbols, or marks that are legally registered for use by a
single company
-Service mark - -those words, symbols, or marks that are legally registered for use by a
single company to refer to a service offering
-Brand familiarity - -how well customers recognize and accept a company's brand
-Brand rejection - -potential customers won't buy a brand - unless its image is changed
-Brand nonrecognition - -final customers don't recognize a brand at all - even though
intermediaries may use the brand name for identification and inventory control
-Aided awareness - -able to identify a brand with help of a list of brand types to choose
from
-Unaided awareness - -able to identify a brand without any help necessary
-Brand preference - -target customer usually choose the brand over other brands, perhaps
because of habit or favorable past experience
-Brand insistence - -customers insist on a firm's branded product and are will to search for
it
-Brand equity - -the value of a brand's overall strength in the market
, -Lanham Act - -law that spells out what kinds of marks (included brand names) can be
protected and the exact method of protecting them
-Family brand - -a brand name that is used for several products
-Licensed brand - -a well-known brand that sellers pay a fee to use
-Individual brands - -separate brand names used for each product
-Generic products - -products that have no brand at all other than identification of their
contents and the manufacturer or intermediary
-Manufacturer brands - -brands created by producers
-Dealer brands - -brands created by intermediaries - sometimes referred to as private
brands
-Private brands - -brands created by intermediaries - sometimes referred to as dealer
brands
-Battle of the brands - -competition between dealer brands and manufacturer brands
-Packaging - -promoting, protecting, and enhancing the product
-Universal product code (UPC) - -barcode, systematic codes to label food and gain ability
to track purchases at checkout
-Federal Fair Packaging and Labeling Act - -law requiring that consumer goods be clearly
labeled in easy-to-understand terms
-Warranty - -what the seller promises about its products
-Magnuson-Moss Act - -law requiring that producers provide a clearly written warranty if
they choose to offer any warranty
-Consumer products - -products meant for final consumer
-Convenience products - -products a consumer needs but isn't willing to spend much time
and effort shopping for
-Staples - -products that are bought often, routinely, and without much thought
-Impulse products - -products that are bought quickly as unplanned purchases because of
a strongly felt need
Questions and Answers
Product - -the need-satisfying offering of a firm
-Product assortment - -the set of all product lines and individual products that a firms
sells.
-Quality - -a product's ability to satisfy a customer's needs or requirements
-Individual product - -a particular product within a product line
-Product line - -a set of individual products that are closely related
-Branding - -the use of a name, term, symbol, or design - or a combination of these - to
identify a product
-Brand name - -a word, letter, or a group of words or letters
-Trademark - -those words, symbols, or marks that are legally registered for use by a
single company
-Service mark - -those words, symbols, or marks that are legally registered for use by a
single company to refer to a service offering
-Brand familiarity - -how well customers recognize and accept a company's brand
-Brand rejection - -potential customers won't buy a brand - unless its image is changed
-Brand nonrecognition - -final customers don't recognize a brand at all - even though
intermediaries may use the brand name for identification and inventory control
-Aided awareness - -able to identify a brand with help of a list of brand types to choose
from
-Unaided awareness - -able to identify a brand without any help necessary
-Brand preference - -target customer usually choose the brand over other brands, perhaps
because of habit or favorable past experience
-Brand insistence - -customers insist on a firm's branded product and are will to search for
it
-Brand equity - -the value of a brand's overall strength in the market
, -Lanham Act - -law that spells out what kinds of marks (included brand names) can be
protected and the exact method of protecting them
-Family brand - -a brand name that is used for several products
-Licensed brand - -a well-known brand that sellers pay a fee to use
-Individual brands - -separate brand names used for each product
-Generic products - -products that have no brand at all other than identification of their
contents and the manufacturer or intermediary
-Manufacturer brands - -brands created by producers
-Dealer brands - -brands created by intermediaries - sometimes referred to as private
brands
-Private brands - -brands created by intermediaries - sometimes referred to as dealer
brands
-Battle of the brands - -competition between dealer brands and manufacturer brands
-Packaging - -promoting, protecting, and enhancing the product
-Universal product code (UPC) - -barcode, systematic codes to label food and gain ability
to track purchases at checkout
-Federal Fair Packaging and Labeling Act - -law requiring that consumer goods be clearly
labeled in easy-to-understand terms
-Warranty - -what the seller promises about its products
-Magnuson-Moss Act - -law requiring that producers provide a clearly written warranty if
they choose to offer any warranty
-Consumer products - -products meant for final consumer
-Convenience products - -products a consumer needs but isn't willing to spend much time
and effort shopping for
-Staples - -products that are bought often, routinely, and without much thought
-Impulse products - -products that are bought quickly as unplanned purchases because of
a strongly felt need
