Marketing 350 Courtney Worsham Exam #3 || Questions and 100% Verified Answers.
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Course
Mktg 350 Courtney Worsham
Institution
Mktg 350 Courtney Worsham
Sku correct answers stock keeping unit
•Smallest unit of a product
•Example: blue jeans" size 8, acid wash, rock star jean, 34 waist, boot
Product Mix correct answers The complete set of all products and services offered by a firm
Product Lines correct answers groups of associated ite...
Marketing 350 Courtney Worsham Exam #3 || Questions
and 100% Verified Answers.
Sku correct answers stock keeping unit
•Smallest unit of a product
•Example: blue jeans" size 8, acid wash, rock star jean, 34 waist, boot
Product Mix correct answers The complete set of all products and services offered by a firm
Product Lines correct answers groups of associated items that consumers tend to use together or
think of as part of a group of similar products or services
•Example: BMW's product lines (brands) include BMW, cars targeted at middle-aged
professionals; the MINI, cars targeted to the young adult market; Rolls-Royce, cars targeted at
the ultra-wealthy market; and BMW Motorrad, its motorcycle line
➢ Breadth (width) correct answers represents a count of the number of product lines offered by
the firm; BMW has four, as indicated by the four columns in the chart above
•"Mix Width"
•Decrease Breadth: Sometimes it is necessary to delete entire product lines to address changing
market conditions or meet internal strategic priorities
•Increase Breadth: Firms often add new product lines to capture new or evolving markets and
increase sales
Depth correct answers equals the number of products within a product line. Within BMW's
Rolls-Royce brand, for example, it offers Phantom, Wraith, and Ghost models.
•Decrease Depth: Sometimes it is necessary to delete products within a product line
•Increase Depth: Adding a product onto a product line
•Example: "vote on new scent of pinesol"→still a product in cleaner line just adding a new scent
to that line
Manufacturer/national brands correct answers owned and managed by the manufacturer. With
these brands, the manufacturer develops the merchandise, produces it to ensure consistent
quality, and invests in a marketing program to establish an appealing brand image
•Carries the same name wherever it is sold
•Example: Ralph Lauren is Ralph Lauren even if it is sold at Nordstrom
, Manufacturer/national brands correct answers •Manufacturer will market their product
•The majority of the brands marketed in the United States are manufacturer brands, and
manufacturing firms spend millions of dollars each year to promote their brands.
•By owning their brands, manufacturers retain more control over their marketing strategy, are
able to choose the appropriate market segments and positioning for the brand, and can build the
brand and thereby create their own brand equity
•Examples: Nike, Coca-Cola, KitchenAid
➢ Retailer/Store Brand (aka private-label brands or private label brand) correct answers are
products developed by retailers. In some cases, retailers manufacture their own products,
whereas in other cases they develop the design and specifications for their retailer/store brands
and then contract with manufacturers to produce those products.
Some national brand manufacturers work with retailers to develop a special version of their
standard merchandise offering to be sold exclusively by the retailer
Premium correct answers intended to compete with the national brands
Generic correct answers peanut butter called peanut butter
Copycat correct answers mimics national brand... "Dr.. Thunder" is a copycat of Dr. Pepper
Exclusive co-brand correct answers bring in a designer to exclusively make product...Lilly
Pulitzer for Target
Store brand correct answers is only available at that retail store....creates store loyalty...all
marketing, production, and developing is done by retailer
•Examples: costco and trader joe's have based their brand identities around their store brand
Brands establish loyalty correct answers customers overtime learn to trust certain brands
Brands protect from competition and price competition correct answers because they are more
established in the mkt and they have a more loyal customer base...certain brands are also
perceive to be superior quality
➢ Brands are Assets correct answers they can be legally protected through trademarks and
copyrights
Brand Awareness correct answers measures how many consumers in a market are familiar with
the brand and whit it stands for and have an opinion about it
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