NAME: ________________________

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5 Written Questions

5 Matching Questions

  1. Supply and Demand
  2. Unitary Elasticity
  3. Break Even Pt Qty
  4. Intangibility
  5. Brand Personalities
  1. a increase in sales exactly offsets a decrease in prices, so total revenue remains the same
  2. b determines whether a product is a pure good, pure service or hybrid of both
  3. c fixed cost / (unit selling price - unit variable cost)
  4. d Demand tends to decrease as price increases
  5. e capture specific info about the brand and holistic perceptions of the brand

5 Multiple Choice Questions

  1. Consumer tastes
    Price and availability of similar products
    Consumer income
  2. changing of the price based on the day, time, week, and even season (airlines)
  3. starts with a name; marketers should chose brand names that convey brand information; brand name meaning built over time; invoke a certain image
  4. need some trial or consumption before evaluation
  5. order, handle, ship

5 True/False Questions

  1. How to Pick a good Brand Nameinduce loyalty, allow for premium pricing, allow single firm to pursue multiple targets


  2. Skimming Strategyincentives are offered to distribution partners to push products through the channel; targets suppliers


  3. Bottom Up Approachcustomer and company co-create products


  4. Distribution Channelnetwork of firms which are interconnected, provides sellers access to goods/services and buyers a means of purchasing those goods


  5. Exchangecan be either a good or service; central offering in the marketing exchange


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