Exam (elaborations)
Marketing Principles Exam 2.pdf
- Course
- Mkt 300
- Institution
- Chamberlain College Of Nursing
Marketing Principles Exam
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Marketing Principles Exam 24 types of quantitative Research - correct answer 1. Descriptive
2. Correlational
3. Experimental
4. Quasi-experimental
Five steps of the Marketing Research Process - correct answer Step 1: Defining
the objectives and research needs
Step 2: Designing the research
Step 3: Data collection
Step 4: Analyzing data and developing insights
Step 5: Action plan and implementation
3 Critical Features of an Experiment - correct answer - Controlled
- Variables are held constant
- Random
2 Basic Brand Ownership Strategies - correct answer Manufacturer brand &
Private/Store Brand
The set of all product lines offered by a company - correct answer Product Mix
The number of product items in a product line - correct answer Product Line
Depth
Brand Dilution - correct answer The weakening of the core brand due to extensive
or inappropriate extensions
The four stages of the Product Life Cycle - correct answer -Introduction
, -Growth
-Maturity
-Decline
The 5 groups of consumers in the diffusion of innovation process - correct
answer -Innovators
-Early Adopters
-Early majority
-Late majority
-Laggards
Pronounced modification to an existing product - correct answer Dynamically
Continuous Innovation
Taking a competitor's product apart, analyzing it, and building a new improved
product - correct answer Reverse Engineering
Strategy used in the decline stage of the PLC that involves keeping the product
but reducing marketing expenses to minimum - correct answer Harvesting
The process of defining a marketing problem and opportunity, systematically
collecting and analyzing information, and recommending actions - correct answer
Marketing Research
The number of product lines an organization offers - correct answer Product Mix
Breadth
Information collected prior to the start of the research project (internal or
external) - correct answer Secondary data
Minor modification to an existing product - correct answer Continuous innovation
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