Final Exam Study Guide
Five the questions below will be selected for the final exam. Each question will be worth 20 points
for a total of 100 points.
1. In what ways can brand extensions improve the odds of new-product success? Discuss one
brand extension you would recommend for your project business. In your discussion make sure
and cover the pros and cons of such a brand extension.
2.List and describe three advantages shared by strong brands that you will most likely need to
emulate to accomplish this objective for the company used in your project.
3. The vast array of products that consumers buy can be broken down into four main groups. List
the four main classifications of consumer goods and explain what elements are included within.
Give an example of one from your project company.
4. Your project company is contemplating introducing a product that is inferior to its competition
in its performance, design, and functionality. However, your project company believes that “good
brand marketing” can overcome these shortfalls. Why is this thinking incorrect?
5. As the marketing manager for a product often referred to as a “commodity,” you know that
incremental sales and profits lies not in physical differentiation but in “service” differentiation. As
you compose a memo to your boss regarding the concept of “service” differentiation, you note the
areas where service differentiation can make a difference. List and define three areas for service
differentiation.
6. Describe two gaps in the Service Quality model and describe (from a service aspect) how your
project company could improve the gaps you just listed.
7. Describe three Marketing Decisions that have to be made under the new retail marketing
environment.
8. List the stages of the consumer-adoption process. Discuss two characteristics that influence
the rate of adoption.
9. Define Word of Mouth (WOM). List three steps to improve the likelihood of starting positive
WOM buzz.
10. List and describe three of the wholesalers’ functions.