Marketing 3010 Final Exam UPDATED
QUESTIONS AND CORRECT ANSWERS
What are the five decisions a company makes about an individual product - CORRECT
ANSWER Product attributes, branding, packaging, labeling, product support services
What are the benefits of branding for sellers - CORRECT ANSWER Differentiation, loyalty,
lower promotion costs, brand as a valuable asset
What are the benefits of branding for buyers - CORRECT ANSWER Simplifies decisions,
signals quality, provides social status
What is brand equity - CORRECT ANSWER The impact of knowing a brand name on how
customers evaluate a product
What are the four major branding decisions - CORRECT ANSWER Brand positioning, brand
name, brand sponsorship, brand development
How can a company position its brand - CORRECT ANSWER Based on attributes, benefits,
and values
What are the four brand sponsorship options - CORRECT ANSWER Manufacturer brand,
private brand, licensed brand, co-branding
Which brand sponsorship is most common - CORRECT ANSWER Manufacturer brand
Which brand sponsorship is most risky - CORRECT ANSWER Co-branding
What is a manufacturer brand - CORRECT ANSWER The producer puts its own brand name
on the product
What is a private brand - CORRECT ANSWER A retailer puts its own brand name on the
product
, What is a licensed brand - CORRECT ANSWER A company pays to use another brand's name
or logo
What is co-branding - CORRECT ANSWER Two brands are used together on one product
What is line extension - CORRECT ANSWER New versions in the same product category,
using the same brand
What is brand extension - CORRECT ANSWER New product category, using the same brand
What is multibranding - CORRECT ANSWER New brand name, in the same category
What is a new brand - CORRECT ANSWER New category, with a new brand name
What is packaging - CORRECT ANSWER Designing and producing the container of a product
What is labeling - CORRECT ANSWER Putting information on the product package
What is a product line - CORRECT ANSWER A group of related products
What is product line length - CORRECT ANSWER Number of models
What is product line depth - CORRECT ANSWER Number of versions of each model
What is line filling - CORRECT ANSWER Adding more products within the current range
What is line stretching - CORRECT ANSWER Adding products outside the current range
QUESTIONS AND CORRECT ANSWERS
What are the five decisions a company makes about an individual product - CORRECT
ANSWER Product attributes, branding, packaging, labeling, product support services
What are the benefits of branding for sellers - CORRECT ANSWER Differentiation, loyalty,
lower promotion costs, brand as a valuable asset
What are the benefits of branding for buyers - CORRECT ANSWER Simplifies decisions,
signals quality, provides social status
What is brand equity - CORRECT ANSWER The impact of knowing a brand name on how
customers evaluate a product
What are the four major branding decisions - CORRECT ANSWER Brand positioning, brand
name, brand sponsorship, brand development
How can a company position its brand - CORRECT ANSWER Based on attributes, benefits,
and values
What are the four brand sponsorship options - CORRECT ANSWER Manufacturer brand,
private brand, licensed brand, co-branding
Which brand sponsorship is most common - CORRECT ANSWER Manufacturer brand
Which brand sponsorship is most risky - CORRECT ANSWER Co-branding
What is a manufacturer brand - CORRECT ANSWER The producer puts its own brand name
on the product
What is a private brand - CORRECT ANSWER A retailer puts its own brand name on the
product
, What is a licensed brand - CORRECT ANSWER A company pays to use another brand's name
or logo
What is co-branding - CORRECT ANSWER Two brands are used together on one product
What is line extension - CORRECT ANSWER New versions in the same product category,
using the same brand
What is brand extension - CORRECT ANSWER New product category, using the same brand
What is multibranding - CORRECT ANSWER New brand name, in the same category
What is a new brand - CORRECT ANSWER New category, with a new brand name
What is packaging - CORRECT ANSWER Designing and producing the container of a product
What is labeling - CORRECT ANSWER Putting information on the product package
What is a product line - CORRECT ANSWER A group of related products
What is product line length - CORRECT ANSWER Number of models
What is product line depth - CORRECT ANSWER Number of versions of each model
What is line filling - CORRECT ANSWER Adding more products within the current range
What is line stretching - CORRECT ANSWER Adding products outside the current range
