USC BUAD 307 Final Exam Questions With Correct Answers
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Course
BUAD 307
Institution
BUAD 307
USC BUAD 307 Final Exam Questions
With Correct Answers
Three Dimensions of a Product - answerAugmented, Core, Branded
Difference between services and tangible goods - answerIntangibility, Inseparability,
Heterogeneity, Perishable
4 Elements of a Successful CSM Program - answerOffering, Funding...
BRIGHTSTARS EXAM STUDY SOLUTIONS 8/15/2024 2:05 PM
USC BUAD 307 Final Exam Questions
With Correct Answers
Three Dimensions of a Product - answer✔✔Augmented, Core, Branded
Difference between services and tangible goods - answer✔✔Intangibility, Inseparability,
Heterogeneity, Perishable
4 Elements of a Successful CSM Program - answer✔✔Offering, Funding Mechanism, Employee
Management, System Support
Differentiate between Product Width and Depth - answer✔✔Breadth: Number of product lines
offered by a firm
Depth: Number of categories within a product, Kelloggs breakfast: Nutrigrain, Special K, Pop
tarts
Revenue growth options based on Market-Product Matrix - answer✔✔Market Penetration,
Market Development, Product Development, Diversification
Standard approach for new product development - answer✔✔New Product Strategy, Idea
Generation, Idea Screening, Business Analysis, Prototype Product Development, Test Marketing,
commercialization
Describe the new product adoption curve - answer✔✔The process by which the use of an
innovation spreads throughout the market group, over time and across various categories of
adopters is referred to as diffusion of innovation.
Criteria for Predicting new success - answer✔✔Compatibility- A diffusion process depends on
various consumer features, including international cultural differences. (Chinese firefox different
because user surf internet differently)
, BRIGHTSTARS EXAM STUDY SOLUTIONS 8/15/2024 2:05 PM
-Observability: When products are easily observed, their benefits or uses are easily
communicated to others, so diffusion happens faster. (Lots of Prius commercials and people saw
them on the road, so they wanted to try them out; Botox not diffused fast because people don't
want to talk about it).
-Complexity and Trialability: Products that are relatively less complex are also relatively easier
to try. These will diffuse faster. (Simply Apple, easier, than new speaker set to accompany tv
brand)
Name Product Life Cycle stages - answer✔✔Introduction, Growth stage, maturity stage, decline
stage
Difference between a brand and brand equity - answer✔✔1. Brand: A name shape symbol and/or
design that communicates a product's attributes, benefits, values, and personality
2. Brand Equity: The set of assets and liabilities linked to a brand that add to or subtract from the
value provided by the product or service
Distinguish between manufacturer brands and private label - answer✔✔1. Manufacturer's
brands: Brands owned and managed by the manufacturer, i.e. Coca Cola
2. Private Label Brands: Brands developed and marketed by a retailer and available only from
that retailer Costs of developing and marketing a manufacturer's brand are prohibitive
Challenges faced by Manufacturer brands? - answer✔✔1. Some manufacturers prefer to make
only private-label merchandise because the costs of developing and marketing a manufacturer's
brand are prohibitive
2. Accessibility to audience via ads. Demographics harder to reach in large now, more effort
required
3. Other firms manufacturer both their own national brand and merchandise for other brands or
retailers
Difference between line extension and brand extension - answer✔✔1. Line Extension (vertical):
The use of the same brand name within the same product line and represents an increase in a
product line's depth -different types of toothpaste
2. Brand/Category Extension (horizontal): The use of the same brand name for new products
being introduced to the same or new markets - Colgate making toothpaste, toothbrushes, etc.
Extension benefits - answer✔✔1. New revenue sources
2. Reduced costs and risks for product introductions
3. Satisfy consumers desire for something different, and block competitors
4. Move customers to higher price points
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