chapter 14 part 2

Question 1

Crowd-sourcing

Answer 1

A company or institution that takes a function once performed by employees and outsources it to an undefined and large community of people in the form of an open call

Question 2

standard or adapted product vs. standard or adapted promotion

• Stand prom & stand prod
• Adapt prom & stand prod
• Stand prom & adapt prod
• Adapt prom & adapt prod

Answer 2

• Straight extension
• Promotion adaption
• Product adaption
• Dual adaption

Question 3

the country where a product has been made, has a considerable influence on the quality perception of that product

Answer 3

country-of-origin effect

Question 4

Functions of branding (4)

Answer 4

• Distinguish a company’s offering
• Create identification and brand awareness
• To guarantee certain level of quality and satisfaction
• To help with promotion of the product

Question 5

Private label

Answer 5

the retailer’s own brand

Question 6

Form of cooperation between two or more brand, which can create synergies that create value for both participants, above the value they would expect to generate on their own

Answer 6

co-branding

Question 7

The supplier delivers an important key component to the final marketer

Answer 7

Ingredient branding

Question 8

Graph showing fewer products selling in large quantities versus many more products selling in low quantities. The low-quantity items create a long tail that generates more revenue overall. Even though a smaller quantity of each item is sold, there is a much greater variety of these items to sell

Answer 8

Long tail