MEJO 475 Final Questions with
Accurate Answers
Advertising correct answer Any paid form of non-personal presentation and
promotion of ideas, goods, or services by an identified sponsor
Attitude correct answer A person's consistently favorable or unfavorable
evaluations, feelings, and tendencies toward an object or idea
Belief correct answer A descriptive thought that a person holds about something
Brand correct answer A name, term, sign, symbol, or design, or a combination of
these, that identifies the product or service of one seller or group of sellers and
differentiates them from those of competitors
Brand Equity correct answer The differential effect that knowing the brand name
has on customer response to the product or its market
Brand Extension correct answer extending an existing brand name to new
product categories
Brand Valuation correct answer The total financial value of a brand
Break-Even Pricing correct answer Setting price to break even on the costs of
making and marketing a product or setting price to make a target return
,Business Analysis correct answer A review of the sales, cost, and profit
projections for a new product to find out whether these factors satisfy the
company's objectives
Business Promotions correct answer Sales promotion tools used to generate
business leads, stimulate purchases, reward customers, and motivate salespeople
Causal Research correct answer Marketing research to test hypotheses about
cause and effect relationships
Channel Conflict correct answer When individual channel members have
disagreements over goals, roles, and rewards
Channel Level correct answer Each layer of marketing intermediaries that
performs some work in bringing the product and its ownership closer to the final
buyer
Commercialization correct answer Introducing a new product into the market
Concentrated Marketing correct answer A market-coverage strategy in which a
firm goes after a large share of one or a few segments or niches
Concept Testing correct answer Testing new product concepts with a group of
target consumers to find out if the concepts have strong consumer appeal
Consumer Promotions correct answer Sales promotion tools used to boost short-
term customer buying and engagement or enhance long-term customer
relationships
, Consumer-Generated Marketing correct answer Brand exchanges created by
consumers themselves - both invited and uninvited - by which consumers are
playing an increasing role in shaping their own brand experiences and those of
other consumers
Content Marketing correct answer Creating, inspiring, and sharing brand
messages and conversations with and among consumers across a fluid mix of
paid, owned, earned, and shared channels
Conventional Marketing System correct answer Consists of one or more
independent producers, wholesalers, and retailers
Each wants to maximize their own profit and there is no formal assignment of
roles and resolving channel conflict
Cost-Based Pricing correct answer Setting prices based on the costs of producing,
distributing, and selling the product plus a fair rate of return for effort and risk
Cost-Plus Pricing correct answer Adding a standard markup to the cost of the
product
Crowdsourcing correct answer Inviting broad communities of people - customers,
employees, independent scientists and researchers, and even the public at large -
into the new product innovation process
Culture correct answer The set of basic values, perceptions, wants, and behaviors
learned by a member of society from family and other important institutions
Accurate Answers
Advertising correct answer Any paid form of non-personal presentation and
promotion of ideas, goods, or services by an identified sponsor
Attitude correct answer A person's consistently favorable or unfavorable
evaluations, feelings, and tendencies toward an object or idea
Belief correct answer A descriptive thought that a person holds about something
Brand correct answer A name, term, sign, symbol, or design, or a combination of
these, that identifies the product or service of one seller or group of sellers and
differentiates them from those of competitors
Brand Equity correct answer The differential effect that knowing the brand name
has on customer response to the product or its market
Brand Extension correct answer extending an existing brand name to new
product categories
Brand Valuation correct answer The total financial value of a brand
Break-Even Pricing correct answer Setting price to break even on the costs of
making and marketing a product or setting price to make a target return
,Business Analysis correct answer A review of the sales, cost, and profit
projections for a new product to find out whether these factors satisfy the
company's objectives
Business Promotions correct answer Sales promotion tools used to generate
business leads, stimulate purchases, reward customers, and motivate salespeople
Causal Research correct answer Marketing research to test hypotheses about
cause and effect relationships
Channel Conflict correct answer When individual channel members have
disagreements over goals, roles, and rewards
Channel Level correct answer Each layer of marketing intermediaries that
performs some work in bringing the product and its ownership closer to the final
buyer
Commercialization correct answer Introducing a new product into the market
Concentrated Marketing correct answer A market-coverage strategy in which a
firm goes after a large share of one or a few segments or niches
Concept Testing correct answer Testing new product concepts with a group of
target consumers to find out if the concepts have strong consumer appeal
Consumer Promotions correct answer Sales promotion tools used to boost short-
term customer buying and engagement or enhance long-term customer
relationships
, Consumer-Generated Marketing correct answer Brand exchanges created by
consumers themselves - both invited and uninvited - by which consumers are
playing an increasing role in shaping their own brand experiences and those of
other consumers
Content Marketing correct answer Creating, inspiring, and sharing brand
messages and conversations with and among consumers across a fluid mix of
paid, owned, earned, and shared channels
Conventional Marketing System correct answer Consists of one or more
independent producers, wholesalers, and retailers
Each wants to maximize their own profit and there is no formal assignment of
roles and resolving channel conflict
Cost-Based Pricing correct answer Setting prices based on the costs of producing,
distributing, and selling the product plus a fair rate of return for effort and risk
Cost-Plus Pricing correct answer Adding a standard markup to the cost of the
product
Crowdsourcing correct answer Inviting broad communities of people - customers,
employees, independent scientists and researchers, and even the public at large -
into the new product innovation process
Culture correct answer The set of basic values, perceptions, wants, and behaviors
learned by a member of society from family and other important institutions
