Question 1

Private branding refers to a branding strategy in which a firm __________.

Accepted Answer

A)  gives each product a distinct name when each brand is intended for a different market segment
B)  uses different brand names for the same product across multiple countries
C)  uses one name for all its products in a product class
D)  produces products but sell them under the brand name of a wholesaler or retailer
E)  contractually,and for a fee,allows other firms to use its brand name,requiring that the product be made to its specificationsF) B) and E)
G) A) and C)

Question 2

Consumer advocates believe the practice of downsizing by consumer products firms has resulted in __________.

Accepted Answer

A)  lower product prices for consumers because of lower labor,raw material,and packaging costs
B)  a greener environment due to the reduction in the amount of packaging,thereby reducing the amount of waste disposed in landfills
C)  fewer product choices for consumers that led to riding prices
D)  keeping prices from rising in response to the psychological barriers consumers have developed for downsized products
E)  a subtle,deceptive,yet legal practice of disguising a price increaseF) B) and D)
G) A) and B)

Question 3

Which of the following is a characteristic of the growth stage of the product life cycle?

Accepted Answer

A)  advertising emphasis switches to primary demand
B)  a growing proportion of repeat purchasers to initial purchasers
C)  the number of distribution outlets shrinks due to growing inefficiencies
D)  profit margins increase as sales increase
E)  no new product features are added to maximize profitsF) A) and C)
G) All of the above

Question 4

Reducing the number of features,qualities,or price when repositioning a product is referred to as __________.

Accepted Answer

A)  product paring
B)  trading down
C)  down trading
D)  product deflation
E)  product simplificationF) C) and E)
G) A) and D)

Question 5

An aging baby boomer population has led to increased interest in developing and marketing products to satisfy the needs of this large market.As a result,moisturizing lotions and creams like Oil of Olay are now repositioned as "age-defying" products.This is an example of which product repositioning action?

Accepted Answer

A)  reaching a new market
B)  reacting to a competitor's position
C)  trading up
D)  changing the value offered
E)  product modificationF) A) and B)
G) B) and C)

Question 6

Profits tend to consume a disproportionate share of management and financial resources relative to their worth throughout which stage of the product life cycle?

Accepted Answer

A)  innovation
B)  growth
C)  maturity
D)  decline
E)  harvestF) A) and B)
G) D) and E)

Question 7

The first step in the sequential building process of brand equity involves __________.

Accepted Answer

A)  developing positive brand awareness
B)  creating a consumer-brand connection
C)  easing consumers' decision making
D)  eliciting the proper consumer responses to a brand's identity and meaning
E)  establishing a brand's meaning in the minds of consumersF) A) and C)
G) All of the above

Question 8

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts.One of these indexes is the CDI or __________.

Accepted Answer

A)  category development index
B)  consumer development index
C)  competitive development index
D)  channel development index
E)  customization development indexF) A) and B)
G) A) and C)

Question 9

Explain the difference between trading up and trading down when repositioning a product.

Accepted Answer

Often a company decides to reposition it...

Question 10

The strategy of trading down involves __________.

Accepted Answer

A)  adding product features but using lower quality product materials
B)  reducing product features and but using higher quality product materials or ingredients
C)  reducing the number of features,quality,or price of a product
D)  seeking a less price-sensitive target market
E)  changing to a mass merchandiser retailer like Wal-Mart or TargetF) A) and B)
G) B) and E)

Question 11

The second step in the sequential process of building brand equity is to __________.

Accepted Answer

A)  develop positive brand awareness
B)  establish a brand's meaning in the minds of consumers
C)  elicit the proper consumer responses to a brand's identity and meaning
D)  create a consumer-brand connection
E)  reward loyal customer behaviorF) A) and B)
G) A) and C)

Question 12

When the National Cattlemen's Beef Association developed the "Beef,It's What's for Dinner" advertising campaign,it was trying to stimulate __________ demand.

Accepted Answer

A)  selective
B)  generic
C)  derived
D)  primary
E)  secondaryF) B) and D)
G) C) and D)

Question 13

What aspect of the product/service element of the marketing mix warrants special attention by service marketers?

Accepted Answer

Branding-since services are intangible,t...

Question 14

During the maturity stage of the product life cycle,profit declines PRIMARILY because __________.

Accepted Answer

A)  there are fewer and fewer competitors in the market
B)  promotional expenditures increase
C)  production costs increase the more a firm has to manufacture the same product
D)  there is fierce price competition among sellers
E)  more consumers enter the market seeking bargainsF) A) and B)
G) A) and C)

Question 15

The product life cycle refers to __________.

Accepted Answer

A)  the average life span of a product
B)  a concept that describes the stages a new product goes through from product concept to commercialization
C)  a concept that describes the stages a product goes through in the marketplace-early growth,accelerated development,maturity,and decline
D)  a concept that describes the stages a product goes through in the marketplace-introduction,growth,maturity,and decline
E)  the amount of time it takes a product innovation to completely diffuse in the marketplaceF) A) and B)
G) A) and C)

Question 16

3D OLED (organic light-emitting diode) HDTVs,such as the 55"model from LG Electronics,are in which stage of the product life cycle?

Accepted Answer

A)  introduction
B)  growth
C)  maturity
D)  decline
E)  harvestF) B) and D)
G) None of the above

Question 17

What is multiproduct branding? What are its advantages? Disadvantages?

Accepted Answer

Multiproduct branding occurs when a comp...

Question 18

What is the difference between multiproduct branding and multibrand strategies? What advantages are offered by each of these two approaches?

Accepted Answer

The manufacturer may use either a multip...

Question 19

Gatorade offers a range of product offerings.The firm uses one name for all its products in a product class.Gatorade is using a __________ strategy.

Accepted Answer

A)  multibranding
B)  family branding
C)  co-branding
D)  dual branding
E)  mixed brandingF) C) and E)
G) A) and D)

Question 20

The use of brand names is especially important for services because of which unique characteristic of services?

Accepted Answer

A)  inventory costs
B)  inseparability
C)  inconsistency
D)  invisibility
E)  intangibilityF) A) and B)
G) C) and D)

Exam 10: Managing Successful Products, Services, and Brands

3D OLED (organic light-emitting diode) HDTVs,such as the 55"model from LG Electronics,are in which stage of the product life cycle?

Correct Answer
verified

Correct Answer
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Consumer advocates believe the practice of downsizing by consumer products firms has resulted in __________.

Correct Answer
verified

Which of the following is a characteristic of the growth stage of the product life cycle?

Correct Answer
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The first step in the sequential building process of brand equity involves __________.

Correct Answer
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The second step in the sequential process of building brand equity is to __________.

Correct Answer
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Explain the difference between trading up and trading down when repositioning a product.

Correct Answer
verified
Often a company decides to reposition it...
View Answer

What aspect of the product/service element of the marketing mix warrants special attention by service marketers?

Correct Answer
verified
Branding-since services are intangible,t...
View Answer

Gatorade offers a range of product offerings.The firm uses one name for all its products in a product class.Gatorade is using a __________ strategy.

Correct Answer
verified

What is multiproduct branding? What are its advantages? Disadvantages?

Correct Answer
verified
Multiproduct branding occurs when a comp...
View Answer

What is the difference between multiproduct branding and multibrand strategies? What advantages are offered by each of these two approaches?

Correct Answer
verified
The manufacturer may use either a multip...
View Answer

When the National Cattlemen's Beef Association developed the "Beef,It's What's for Dinner" advertising campaign,it was trying to stimulate __________ demand.

Correct Answer
verified

Profits tend to consume a disproportionate share of management and financial resources relative to their worth throughout which stage of the product life cycle?

Correct Answer
verified

The strategy of trading down involves __________.

Correct Answer
verified

Reducing the number of features,qualities,or price when repositioning a product is referred to as __________.

Correct Answer
verified

The product life cycle refers to __________.

Correct Answer
verified

Private branding refers to a branding strategy in which a firm __________.

Correct Answer
verified

The use of brand names is especially important for services because of which unique characteristic of services?

Correct Answer
verified

During the maturity stage of the product life cycle,profit declines PRIMARILY because __________.

Correct Answer
verified

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts.One of these indexes is the CDI or __________.

Correct Answer
verified

Exam 10: Managing Successful Products, Services, and Brands

3D OLED (organic light-emitting diode) HDTVs,such as the 55"model from LG Electronics,are in which stage of the product life cycle?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Consumer advocates believe the practice of downsizing by consumer products firms has resulted in __________.

Correct AnswerverifiedShow Answer

Which of the following is a characteristic of the growth stage of the product life cycle?

Correct AnswerverifiedShow Answer

The first step in the sequential building process of brand equity involves __________.

Correct AnswerverifiedShow Answer

The second step in the sequential process of building brand equity is to __________.

Correct AnswerverifiedShow Answer

Explain the difference between trading up and trading down when repositioning a product.

Correct AnswerverifiedOften a company decides to reposition it...View AnswerShow Answer

What aspect of the product/service element of the marketing mix warrants special attention by service marketers?

Correct AnswerverifiedBranding-since services are intangible,t...View AnswerShow Answer

Gatorade offers a range of product offerings.The firm uses one name for all its products in a product class.Gatorade is using a __________ strategy.

Correct AnswerverifiedShow Answer

What is multiproduct branding? What are its advantages? Disadvantages?

Correct AnswerverifiedMultiproduct branding occurs when a comp...View AnswerShow Answer

What is the difference between multiproduct branding and multibrand strategies? What advantages are offered by each of these two approaches?

Correct AnswerverifiedThe manufacturer may use either a multip...View AnswerShow Answer

When the National Cattlemen's Beef Association developed the "Beef,It's What's for Dinner" advertising campaign,it was trying to stimulate __________ demand.

Correct AnswerverifiedShow Answer

Profits tend to consume a disproportionate share of management and financial resources relative to their worth throughout which stage of the product life cycle?

Correct AnswerverifiedShow Answer

The strategy of trading down involves __________.

Correct AnswerverifiedShow Answer

Reducing the number of features,qualities,or price when repositioning a product is referred to as __________.

Correct AnswerverifiedShow Answer

The product life cycle refers to __________.

Correct AnswerverifiedShow Answer

Private branding refers to a branding strategy in which a firm __________.

Correct AnswerverifiedShow Answer

The use of brand names is especially important for services because of which unique characteristic of services?

Correct AnswerverifiedShow Answer

During the maturity stage of the product life cycle,profit declines PRIMARILY because __________.

Correct AnswerverifiedShow Answer

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts.One of these indexes is the CDI or __________.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified
Often a company decides to reposition it...
View Answer

Correct Answer
verified
Branding-since services are intangible,t...
View Answer

Correct Answer
verified

Correct Answer
verified
Multiproduct branding occurs when a comp...
View Answer

Correct Answer
verified
The manufacturer may use either a multip...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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