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COB 300 Marketing Antwerp Exam Questions and Answers
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COB 300 Marketing Antwerp Exam Questions and Answers
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COB 300: Marketing Antwerp ExamQuestions and Answers
Augmented Product - Answers -additional services and benefits
actual product - Answers -attributes that combine delivery of core value
core product - Answers -what buyer really buys
product - Answers -bundle of benefits; more than tangible features
brand equity - Answers -added value endowed to products by brand
brand name - Answers -spoken part of brand
brand mark - Answers -symbol or design
consumer brand equity - Answers -effect that brand knowledge has on consumer
response to marketing of that brand
financial brand equity - Answers -discounted future income streams attributed to the
brand
brand awareness - Answers -association of brand name with category need
brand association - Answers -strong, favorable, unique
vertical line extension - Answers -same product line but different prices
horizontal line extension - Answers -same product and same price
brand dilution - Answers -loss of clear positioning and meaning
cannibalization - Answers -new product eating up sales of old
product life cycle - Answers -1. product development stage
2. introduction stage
3. growth stage
4. maturity stage
5. decline stage
, Characteristics of a Service - Answers -1. Intangibility
2. Inseparability
3. Inconsistency
4. Perishability
5. Absence of Ownership
7 P's of Service Marketing - Answers -Product
Price
Place
Promotion
People
Process
Physical Evidence
Service Profit Chain - Answers -1. Internal service quality
2. Satisfied productive service employees
3. Greater service value
4. Satisfied and loyal customers
5. Healthy service-profits and growth
Service Differentiation - Answers -difficult to compare services prior to purchase leads
to intense price competition
Final Price formula - Answers -=list price - (incentives+allowances)+extra fees
Value formula - Answers -=perceived benefits/price
Value based pricing - Answers -using buyers' perceptions of value as basis for setting
price
good value pricing - Answers -re-engineering company's operations to become low cost
producer without sacrificing quality to attract large number of value-conscious
customers
Value added pricing - Answers -attach value added service
ex: Louis Vuitton
pricing objectives - Answers -maximizing current profit
product leadership - Answers -high price to cover high R&D
Market Skimming - Answers -high price to skim maximum revenues layer by layer from
the segments willing to pay high price ex: iphones
market penetration - Answers -lower price to attract large target audience
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