UCF MAR 3023 Exam 3 Review (Ch. 9 -
12 Study Guide) correctly answered
already passed
Calculating segment profitability - correct answer Segment size
x segment adoption percentage
x purchase behaviour (x amount of times purchased per year)
x profit margin %
- Fixed costs
Calculating market share ratios - correct answer company's sales / total market
share x 100
Changing product mix breadth - correct answer Decrease: to address changing
market conditions or meet internal strategic priorities (ex: to focus on a
different product line)
Increase: to capture new or evolving markets and increase sales (ex: adding a
new line of jam products to compliment its bread line)
Top 5 global brands in order - correct answer 1. Apple
2. Google
3. Microsoft
4. Coke
5. Amazon
Changing product assortment depth - correct answer Increase: changing
consumer preference or to preempt competitors while boosting sales
, Decrease: realign firms resources. eliminate unprofitable and low margin items
Advantages to using the same brand name for new products - correct answer -
Brand is already established; spend less on consumer awareness and brand
association
-Perception can carry over
-synergy between existing products can increase sales
What firms should consider in order to prevent negative consequences of
brand extensions - correct answer - evaluate the fit between the product class
of the core brand and the extension
-evaluate perception of core brand attributes and apply to extension
-refrain from overally extending the brand into too many products and
categories
-should consider if brand extension distances from core
What are the 5 steps of STP Analysis? - correct answer 1. Establish Strategy or
Objectives
2. Use Segmentation Methods
3. Evaluate Segment Attractiveness
4. Select Target Market
5. Identify and Develop Positioning Strategy
Idea generation - correct answer development of viable new product ideas.
Sources of new product ideas - correct answer 1. internal R&D
2. R&D consortia
3. licensing
12 Study Guide) correctly answered
already passed
Calculating segment profitability - correct answer Segment size
x segment adoption percentage
x purchase behaviour (x amount of times purchased per year)
x profit margin %
- Fixed costs
Calculating market share ratios - correct answer company's sales / total market
share x 100
Changing product mix breadth - correct answer Decrease: to address changing
market conditions or meet internal strategic priorities (ex: to focus on a
different product line)
Increase: to capture new or evolving markets and increase sales (ex: adding a
new line of jam products to compliment its bread line)
Top 5 global brands in order - correct answer 1. Apple
2. Google
3. Microsoft
4. Coke
5. Amazon
Changing product assortment depth - correct answer Increase: changing
consumer preference or to preempt competitors while boosting sales
, Decrease: realign firms resources. eliminate unprofitable and low margin items
Advantages to using the same brand name for new products - correct answer -
Brand is already established; spend less on consumer awareness and brand
association
-Perception can carry over
-synergy between existing products can increase sales
What firms should consider in order to prevent negative consequences of
brand extensions - correct answer - evaluate the fit between the product class
of the core brand and the extension
-evaluate perception of core brand attributes and apply to extension
-refrain from overally extending the brand into too many products and
categories
-should consider if brand extension distances from core
What are the 5 steps of STP Analysis? - correct answer 1. Establish Strategy or
Objectives
2. Use Segmentation Methods
3. Evaluate Segment Attractiveness
4. Select Target Market
5. Identify and Develop Positioning Strategy
Idea generation - correct answer development of viable new product ideas.
Sources of new product ideas - correct answer 1. internal R&D
2. R&D consortia
3. licensing
