GB 350 Ch 10 Exam Questions and
Answers
shopping product - ANSWER-a product that requires comparison shopping because
it is usually more expensive than a convenience product and is found in fewer stores
(ex. appliances, furniture)
specialty product - ANSWER-a particular item for which consumers search
extensively and are reluctant to accept substitutes (ex. rolls royce, bose speakers,
Ruth's Chris Steak House)
unsought product - ANSWER-a product unknown to the potential buyer or a known
product that the buyer does not actively seek (ex. insurance)
product item - ANSWER-a specific version of a product that can be designated as a
distinct offering among an organization's products
product line - ANSWER-a group of closely related product items
product mix - ANSWER-all products that an organization sells
product mix width - ANSWER-the number of product lines an organization offers
product line depth - ANSWER-the number of product items in a product line
adjustments to product items, lines and mixes - ANSWER-1. product modification
2. product repositioning
3. product line extension or contraction
brand - ANSWER-a name, term, symbol, design, or combination thereof that
identifies a seller's products and differentiates them from competitors' products
brand name - ANSWER-that part of a brand that can be spoken, including letters,
words, and numbers
brand mark - ANSWER-the elements of a brand that cannot be spoken
brand equity - ANSWER-the value of a company or brand name
global brand - ANSWER-a brand that obtains at least one-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
branding strategies - ANSWER-1. manufacturers brand
Answers
shopping product - ANSWER-a product that requires comparison shopping because
it is usually more expensive than a convenience product and is found in fewer stores
(ex. appliances, furniture)
specialty product - ANSWER-a particular item for which consumers search
extensively and are reluctant to accept substitutes (ex. rolls royce, bose speakers,
Ruth's Chris Steak House)
unsought product - ANSWER-a product unknown to the potential buyer or a known
product that the buyer does not actively seek (ex. insurance)
product item - ANSWER-a specific version of a product that can be designated as a
distinct offering among an organization's products
product line - ANSWER-a group of closely related product items
product mix - ANSWER-all products that an organization sells
product mix width - ANSWER-the number of product lines an organization offers
product line depth - ANSWER-the number of product items in a product line
adjustments to product items, lines and mixes - ANSWER-1. product modification
2. product repositioning
3. product line extension or contraction
brand - ANSWER-a name, term, symbol, design, or combination thereof that
identifies a seller's products and differentiates them from competitors' products
brand name - ANSWER-that part of a brand that can be spoken, including letters,
words, and numbers
brand mark - ANSWER-the elements of a brand that cannot be spoken
brand equity - ANSWER-the value of a company or brand name
global brand - ANSWER-a brand that obtains at least one-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
branding strategies - ANSWER-1. manufacturers brand
