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5 Written questions

5 Matching questions

  1. Product life cycle
  2. late majority
  3. Price elasticity
  4. selective demand
  5. multibranding
  1. a the preference for a specific brand
  2. b The stages that a product goes through in the marketplace: introduction, growth, maturity, and decline
  3. c Percentage change in quantity demanded that results from a percentage change in price
  4. d giving each product a distinct name
  5. e skeptical; below average social status

5 Multiple choice questions

  1. Use of a name, phrase, design, symbol, or combination of these to identify a product and distinguish it from the competition
  2. a high initial price used to help the company recover the costs of development as well as capitalize on the price insensitivity of early buyers
  3. fear of debt; neighbors and friends are information sources
  4. a product diffuses, or spreads, through the population, resulting in most sales not being in the introduction stage
  5. changing certain characteristics such as quality, or style to attract new users and inspire more usage (wrinkle free and stain-free clothing with nanotechnology)

5 True/False questions

  1. Brand equityThe added value that a brand name gives to a product beyond its functional benefits


  2. harvesting, deletiona company retains the product but reduces marketing costs


  3. Line extensionUsing a current brand name to enter a new market segment in its product class


  4. subbrandingcombines a coporate or family brand with a new brand to distinguish a part of its product line from others (gatorade rain)


  5. family branding (corporate branding)branding all of a firm's products with the same name


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