MKT 305 Exam questions and
answers graded A+
What is Branding? - ANS✅✅The use of a name, symbols, and design to identify a product
Is branding different than brand name? - ANS✅✅yes, the brand name is an aspect of branding
What are favorable conditions for branding? - ANS✅✅1. Product is easy to label and identify
2. Product quality is easy to maintain to match price
3. Dependable and widespread availability is possible
4. Demand for product is strong enough to make branding efforts profitable
5. There are economies of sale (branding should cause costs to drop and profits to increase)
6. Favorable shelf locations/display space in stores
What is Brand familiarity? - ANS✅✅how well customers recognize and accept a company's brand
What are the levels (in order) of brand familiarity? - ANS✅✅1. Brand rejection
2. Brand non-recognition
3. Brand recognition
4. Brand preference
5. Brand insistence
Define Brand Equity - ANS✅✅The value of a Brand's overall strength in a market
What are the "branding questions" - ANS✅✅1. What kind of branding?
, 2. Who does the branding?
What are the kinds of branding and what do they mean? - ANS✅✅1. Family branding: Multiple
products under the same brand name
2. Licenced branding: well known family brand that sellers pay a fee to use
3. Individual branding: Different brand name for each product
4. Generic branding: Products with no brand at all- products are identifiable only through contents
What are the options for who does the branding of a product? - ANS✅✅1. Manufacturer branding:
brands created by producers
2. Dealer/private branding: brands created by intermediaries
What promotes, protects, and enhances a product? - ANS✅✅Packaging
How many consumer product classes are there TOTAL? - ANS✅✅11
How many consumer product GROUPS for classes are there? - ANS✅✅4
What are the consumer product classes and the groups that the classes fall under? -
ANS✅✅Group 1: Convenience Products: Purchased quick with little effort (products consumers
need but aren't willing to spend time/effort shopping for)
-Staples: Products bought often without much thought
-Impulse products: Unplanned, quick buys based of strongly felt need
-Emergency Products: Products purchased immediately when need is great
Group 2: Shopping products: Products consumers feel is worth the time/effort to compare with
competing products
-Homogeneous shopping: Products basically the same and customer wants the lowest priced one
answers graded A+
What is Branding? - ANS✅✅The use of a name, symbols, and design to identify a product
Is branding different than brand name? - ANS✅✅yes, the brand name is an aspect of branding
What are favorable conditions for branding? - ANS✅✅1. Product is easy to label and identify
2. Product quality is easy to maintain to match price
3. Dependable and widespread availability is possible
4. Demand for product is strong enough to make branding efforts profitable
5. There are economies of sale (branding should cause costs to drop and profits to increase)
6. Favorable shelf locations/display space in stores
What is Brand familiarity? - ANS✅✅how well customers recognize and accept a company's brand
What are the levels (in order) of brand familiarity? - ANS✅✅1. Brand rejection
2. Brand non-recognition
3. Brand recognition
4. Brand preference
5. Brand insistence
Define Brand Equity - ANS✅✅The value of a Brand's overall strength in a market
What are the "branding questions" - ANS✅✅1. What kind of branding?
, 2. Who does the branding?
What are the kinds of branding and what do they mean? - ANS✅✅1. Family branding: Multiple
products under the same brand name
2. Licenced branding: well known family brand that sellers pay a fee to use
3. Individual branding: Different brand name for each product
4. Generic branding: Products with no brand at all- products are identifiable only through contents
What are the options for who does the branding of a product? - ANS✅✅1. Manufacturer branding:
brands created by producers
2. Dealer/private branding: brands created by intermediaries
What promotes, protects, and enhances a product? - ANS✅✅Packaging
How many consumer product classes are there TOTAL? - ANS✅✅11
How many consumer product GROUPS for classes are there? - ANS✅✅4
What are the consumer product classes and the groups that the classes fall under? -
ANS✅✅Group 1: Convenience Products: Purchased quick with little effort (products consumers
need but aren't willing to spend time/effort shopping for)
-Staples: Products bought often without much thought
-Impulse products: Unplanned, quick buys based of strongly felt need
-Emergency Products: Products purchased immediately when need is great
Group 2: Shopping products: Products consumers feel is worth the time/effort to compare with
competing products
-Homogeneous shopping: Products basically the same and customer wants the lowest priced one
