Marketing Exam
The Core 9th edition
Exam 2
Define Behavioral Segmentation - ANSWER-Dividing based on consumers' knowledge, attitudes, or responses to a product (occasion, benefit, loyalty, user status, and usage rate) hard to measure
.Define Brand Extension - - ANSWER-The practice of usi...
Marketing Exam
The Core 9th edition
Exam 2
Define Behavioral Segmentation - ANSWER-Dividing based on consumers' knowledge, attitudes, or responses
to a product (occasion, benefit, loyalty, user status, and usage rate) hard to measure
.Define Brand Extension - - ANSWER-The practice of using a current brand name to enter a different product
class (ex. Honda making lawn-mowers)
.Define Brand Licensing - ANSWER-a contractual agreement whereby one company (licensor) allows its brand
names(s) or trademark(s) to be used with products or services offered by another company (licensee) for a
royalty or fee
.Define Branding - ANSWER-Refers to the name, term, symbol, or design that is used to identify and
differentiate your product from competing products
.Define Co-Branding - ANSWER-the practice of pairing two or more strong brands to facilitate the marketing of
a joint product or service to their mutual benefit.
.Define Consumer Products - ANSWER-products purchased by the ultimate consumer
.Define Demographic segmentation - ANSWER-dividing based on consumer's' characteristics (age/life cycle
stage, gender, income, education, religion, ethnicity, and occupation)
.Define Geographic segmentation - ANSWER-Dividing based on geographical units (nations, states, cities,
neighborhoods, climate, etc)
, .Define Good - ANSWER-has tangible AND intangible attributes (touch, see, smell & warranties) Durable and
non-durable goods (cars & gas)
.Define Logistics - ANSWER-Consists of those activities that focus on getting the right amount of the right
product to the right place at the right time at the lowest possible cost
.Define Market Segmentation - ANSWER-aggregating prospective buyers into groups, or segments, that 1) have
common needs and 2) will respond similarly to marketing actions
.Define Marketing Channel - ANSWER-Individuals and firms involved in the process of making a product or
service available for use or consumption by consumers or industrial users
.Define Multi-Product Branding? - ANSWER-(aka family or corporate branding) Branding strategy in which a
company uses one name for all it's products in a product class
.Define Multibranding - ANSWER-Giving each product a distinct name when each brand is intended for a
different market segment (ex. Dewalt for professionals and Black & Decker for home tools)
.Define Positioning - ANSWER-The way a brand/product is defined by consumers on important product
attributes. (the place the product occupies in the consumers' minds relative to the competing brands/products)
.Define Price - ANSWER-The money or other considerations (including other products or services) exchanged
for ownership or use of the product or service
.Define Primary Data - ANSWER-Facts and figures that are newly collected for the project (more expensive,
specific to the project)
.Define Private Branding - ANSWER-When it manufactures products but sells them under the name of the
wholesaler or retailer. Private labeling/reseller branding (ex. Great Value)
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