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MKT 301 Test #2 Test

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5 Written Questions

5 Matching Questions

  1. Experience Marketing
  2. Brand
  3. House of Brands Approach
  4. Supply and Demand
  5. Packaging
  1. a Demand tends to decrease as price increases
  2. b combine brand image and brand personality
  3. c starts with a name; marketers should chose brand names that convey brand information; brand name meaning built over time; invoke a certain image
  4. d introduce a new brand for every product line (P&G)
  5. e the experience is the primary purchase, rather than a good/service

5 Multiple Choice Questions

  1. offers a slightly broader product line but less depth
  2. idea generation, refinement, obtain feedback, use results to develop prototype, test market on small scale, launch
  3. What is the most effective and efficient way to distribute the product? conflict may arise
  4. comprised of several product lines which can vary in breadth and depth
  5. network of firms which are interconnected, provides sellers access to goods/services and buyers a means of purchasing those goods

5 True/False Questions

  1. Setting the Right Priceimplement low initial price and gradually increase as product grows/becomes known


  2. Why improve products?better corporate pride, be consistent w/ image, attract customers, beat competition


  3. Break Even Pt Qtyfixed cost / (unit selling price - unit variable cost)


  4. Exchangecompany offers something, customer offers something in return; goal is to create mutual benefit to establish long-term customer relationships


  5. Value-Added Elementsessential to the product and expected; defines the business


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