ACTUAL EXAM 2 VERSIONS (VERSION A AND B)
COMPLETE 350 QUESTIONS WITH DETAILED VERIFIED
ANSWERS (100% CORRECT ANSWERS)/ALREADY
GRADED A+
VERSION A
What is Ingredient branding? - CORRECT ANSWER ✔✔ - a Brand features Another
brand in its product
Why do we buy? - CORRECT ANSWER ✔✔ - Functional, habitual, cost, emotional,
social, self expressive benefits
What is an upmarket extension? - CORRECT ANSWER ✔✔ - Involves introducing a
brand at a higher price point
What is equal pay cobranding? - CORRECT ANSWER ✔✔ - Both brands are
featured prominently
What is sponsorship branding? - CORRECT ANSWER ✔✔ - Two or more brands
sponsor an event such as sports for shared exposure and goodwill
Consumer buying process - CORRECT ANSWER ✔✔ - Recognize problem,
information, search, evaluation of alternatives, purchase decision, purchase,
post purchase evaluation.
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,What is a line extension? - CORRECT ANSWER ✔✔ - Add a new product to an
existing line
What is a Brand extension? - CORRECT ANSWER ✔✔ - When a brand is extend it
to a completely new product category.
What is a flanker brand? - CORRECT ANSWER ✔✔ - When a company already
offering a brand in that product market introduces a new brand to serve a
different segment of that market.
What is a down market extension? - CORRECT ANSWER ✔✔ - The companies
introducing a Brand target at an audience, looking for a lower price point
What is a holistic marketing concept? - CORRECT ANSWER ✔✔ - Looks at the
interconnectedness between marketing and other aspects and departments of
the business.
What is a societal marketing concept? - CORRECT ANSWER ✔✔ - Looks at the
benefit of the product or service to society as a whole noches the individual
consumer.
What is a marketing concept? - CORRECT ANSWER ✔✔ - Focused on meeting the
needs and wants of the market and seek feedback from the market
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,What is a production concept? - CORRECT ANSWER ✔✔ - Companies using this
concept believe that success comes from making products that are readily
available in highly affordable
What is a product concept? - CORRECT ANSWER ✔✔ - Focuses on efficient and
cost-effective mass production profits primarily from a low cost unit
What is a Selling concept? - CORRECT ANSWER ✔✔ - That left alone consumers
will not buy and need to be pushed to purchase through more aggressive,
promotional efforts
What is channel conflict? - CORRECT ANSWER ✔✔ - This occurs when the same
or competing channels have conflicting goals
What is customer experience? - CORRECT ANSWER ✔✔ - The totality and quality
of the interactions and engagement. A customer has with a company there by
informing the perception in opinion of the brand.
What is the buyers journey? - CORRECT ANSWER ✔✔ - The buyers journey
includes the awareness, stage consideration stage and decision stage
What is the business buying process? - CORRECT ANSWER ✔✔ - Recognize
problem, opportunity, conduct information, church on products and suppliers,
develop need specifications document, request for proposals from vendors,
vendor, selection, performance review.
What are the roles in the business buying center? - CORRECT ANSWER ✔✔ -
Includes users, influencers, decision, makers, buyers, and gatekeepers
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, What is a user - CORRECT ANSWER ✔✔ - Users are those who use the product
often initiate the purchase and provide post. Purchase feedback.
What is an influencer? - CORRECT ANSWER ✔✔ - Influencers are those who
developed the specifications and RFPs they also evaluate alternative products
What is a decision maker? - CORRECT ANSWER ✔✔ - Decision makers are often
those that have the power to make the final purchase decision. They are
typically mid-level or upper management.
What is a gatekeeper? - CORRECT ANSWER ✔✔ - Those that control the flow of
information to and from the buying group. They might include administrative or
tech personal.
What is a product? - CORRECT ANSWER ✔✔ - What the buyers getting in the
exchange with the seller
What is a core benefit? - CORRECT ANSWER ✔✔ - The core benefit represents
the fundamental need met buy the product
What is a generic product? - CORRECT ANSWER ✔✔ - A simplified version of the
product providing only the basic features for functionality. This is also known as
the minimum viable product.
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