Question 1. Briefly explain brand extensions and give an example. What might be an advantage and a disadvantage of using brand extensions? (10 points)

Question 2. What is a product line? What is product line filling? What is product line stretching? Give an example for each. (10 points)

Question 3. What is positioning? What are perceptual maps? What are the advantages of using perceptual maps? (10 points)

Question 4. Briefly explain the five new product adopter consumer groups by explaining the individual differences in adopting innovations (hint: innovators, early adopters, etc.). (15 points)

Question 5. Briefly explain the four market segmentation strategies and give an example for each. (Hint: geographic, demographic, psychographic, behavioral segmentation) (15 points)

Question 6. Briefly explain the four market targeting strategies and give an example for each. (Hint: full market coverage, multiple segments, single segment, individual) (15 points)

Question 7: Each product has a life cycle, although its shape and length may not be known in advance. Explain each of the four stages in the Product Life Cycle and describe the sales, profits, competitors and marketing strategies at each stage. (20 points)

Question 8: Think about one of the customer service experiences you have had with a company. Explain the service you received and evaluate the companys performance. What did you appreciate, what did you hate? What should they do in order to provide a better service next time? (5 points)