MARK 3321 EXAM #3 QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+
Brand Ans✓✓✓A name, term, symbol, design or combination thereof
that identifies a seller's products and differentiates them from
competitor's products
Brand equity Ans✓✓✓The value of company and brand names
Brand loyalty Ans✓✓✓Consistent preference for one brand over all
others
Planned obsolescence Ans✓✓✓The practice of modifying products so
those that have already been sold become obsolete before they actually
need replacement
Implied warranty Ans✓✓✓An unwritten guarantee that the good or
service is fit for the purpose for which it was sold
Product item Ans✓✓✓A specific version of a product that can be
designated as a distinct offering among an organization's products
Product Ans✓✓✓Everything, both favorable and unfavorable, that a
person receives in an exchange
,Family branding Ans✓✓✓Marketing several different products under
the same brand name
Brand mark Ans✓✓✓The elements of a brand that cannot be spoken
Product line depth Ans✓✓✓The number of product items in a product
line
Brand name Ans✓✓✓That part of a brand that can be spoken, including
letters, words and numbers
Product line extension Ans✓✓✓Adding additional products to an
existing product line in order to compete more broadly in the industry
Trademark Ans✓✓✓The exclusive right to use a brand or part of a
brand
Global brand Ans✓✓✓A brand that obtains at least a third of its
earnings from outside its home country, is recognizable outside its home
base of customers, and has publicly available marketing and financial
data
Shopping product Ans✓✓✓A product that requires comparison
shopping because it is usually more expensive than a convenience
product and is found in fewer stores
,Convenience product Ans✓✓✓A relatively inexpensive item that merits
little shopping effort
Warranty Ans✓✓✓A confirmation of the quality or performance of a
good or service
Private brand Ans✓✓✓A brand name owned by a wholesaler or a
retailer
Product mix Ans✓✓✓All products that an organization sells
Consumer product Ans✓✓✓A product bought to satisfy an individual's
personal wants
Product line Ans✓✓✓A group of closely related product items
Specialty product Ans✓✓✓A particular item for which customers search
extensively and are very reluctant to accept substitutes
Universal product codes Ans✓✓✓A series of thick and thin vertical
lines (bar codes), readable by computerized optical scanners, that
represent numbers used to track products
, Generic product name Ans✓✓✓Identifies a product by class or type and
cannot by trademarked
Product mix width Ans✓✓✓The number of product lines an
organization offers
Informational labeling Ans✓✓✓A type of package labeling designed to
help consumers make proper product selections and lower their
cognitive dissonance after the purchase
Co-branding Ans✓✓✓Placing two or more brand names on a product or
its package
Unsought product Ans✓✓✓A product unknown to the potential buyer or
a known product that the buyer does not actively seek
Product modification Ans✓✓✓Changing one or more of a product's
characteristics
Business product (industrial product) Ans✓✓✓A product used to
manufacture other goods or services, to facilitate an organizations's
operations, or to resell to other customers
Captive brand Ans✓✓✓A brand manufactured by a third party for an
exclusive retailer, without evidence of that retailer's affiliation
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+
Brand Ans✓✓✓A name, term, symbol, design or combination thereof
that identifies a seller's products and differentiates them from
competitor's products
Brand equity Ans✓✓✓The value of company and brand names
Brand loyalty Ans✓✓✓Consistent preference for one brand over all
others
Planned obsolescence Ans✓✓✓The practice of modifying products so
those that have already been sold become obsolete before they actually
need replacement
Implied warranty Ans✓✓✓An unwritten guarantee that the good or
service is fit for the purpose for which it was sold
Product item Ans✓✓✓A specific version of a product that can be
designated as a distinct offering among an organization's products
Product Ans✓✓✓Everything, both favorable and unfavorable, that a
person receives in an exchange
,Family branding Ans✓✓✓Marketing several different products under
the same brand name
Brand mark Ans✓✓✓The elements of a brand that cannot be spoken
Product line depth Ans✓✓✓The number of product items in a product
line
Brand name Ans✓✓✓That part of a brand that can be spoken, including
letters, words and numbers
Product line extension Ans✓✓✓Adding additional products to an
existing product line in order to compete more broadly in the industry
Trademark Ans✓✓✓The exclusive right to use a brand or part of a
brand
Global brand Ans✓✓✓A brand that obtains at least a third of its
earnings from outside its home country, is recognizable outside its home
base of customers, and has publicly available marketing and financial
data
Shopping product Ans✓✓✓A product that requires comparison
shopping because it is usually more expensive than a convenience
product and is found in fewer stores
,Convenience product Ans✓✓✓A relatively inexpensive item that merits
little shopping effort
Warranty Ans✓✓✓A confirmation of the quality or performance of a
good or service
Private brand Ans✓✓✓A brand name owned by a wholesaler or a
retailer
Product mix Ans✓✓✓All products that an organization sells
Consumer product Ans✓✓✓A product bought to satisfy an individual's
personal wants
Product line Ans✓✓✓A group of closely related product items
Specialty product Ans✓✓✓A particular item for which customers search
extensively and are very reluctant to accept substitutes
Universal product codes Ans✓✓✓A series of thick and thin vertical
lines (bar codes), readable by computerized optical scanners, that
represent numbers used to track products
, Generic product name Ans✓✓✓Identifies a product by class or type and
cannot by trademarked
Product mix width Ans✓✓✓The number of product lines an
organization offers
Informational labeling Ans✓✓✓A type of package labeling designed to
help consumers make proper product selections and lower their
cognitive dissonance after the purchase
Co-branding Ans✓✓✓Placing two or more brand names on a product or
its package
Unsought product Ans✓✓✓A product unknown to the potential buyer or
a known product that the buyer does not actively seek
Product modification Ans✓✓✓Changing one or more of a product's
characteristics
Business product (industrial product) Ans✓✓✓A product used to
manufacture other goods or services, to facilitate an organizations's
operations, or to resell to other customers
Captive brand Ans✓✓✓A brand manufactured by a third party for an
exclusive retailer, without evidence of that retailer's affiliation
