Question 1

Vinyl records, cassette tapes, CDs, and music downloads (MP3 files)  are all members of the same

Accepted Answer

A)   product form.
B)   product mix.
C)   product line.
D)   product item.
E)   product class.F) All of the above
G) A) and D)

Question 2

In terms of the diffusion of innovation, early majority accounts for ________ percent of product adopters.

Accepted Answer

A)   2.5
B)   13.5
C)   16
D)   34
E)   50F) A) and E)
G) A) and D)

Question 3

Footwear is an example of a ________ while men's dress shoes are an example of a

Accepted Answer

A)   product line; product class.
B)   product family; product line.
C)   product class; product form.
D)   product brand; product line.
E)   product form; product class.F) A) and B)
G) A) and C)

Question 4

Figure 11-5
-The consumers represented by Segment B in Figure 11-5 above are called

Accepted Answer

A)   early adopters.
B)   late majority.
C)   laggards.
D)   early majority.
E)   innovators.F) B) and E)
G) A) and B)

Question 5

Which of the following statements about the introduction stage of the product life cycle is most accurate?

Accepted Answer

A)   If a firm's product is especially good, efforts should be made to create selective demand rather than primary demand to allow the firm to distinguish itself from competitors.
B)   During the introduction stage, it is best to avoid a skimming pricing strategy.
C)   During the introduction stage, it is best to avoid a penetration pricing strategy.
D)   A firm should introduce the identical product at several different price points in order to gauge customer price sensitivity.
E)   Because of large initial investment costs, overall industry profits often are negative.F) C) and E)
G) A) and B)

Question 6

Figure 11-3
-The product life cycle shown in Box C in Figure 11-3 above represents a ________ product.

Accepted Answer

A)   high-learning
B)   fashion
C)   low-learning
D)   fad
E)   generalizedF) A) and D)
G) C) and E)

Question 7

Twitter uses a stylized blue or white bird with no text as its

Accepted Answer

A)   copyright.
B)   trade name.
C)   patent.
D)   logo.
E)   label.F) B) and D)
G) A) and B)

Question 8

The desire for a product class rather than for a specific brand is called ________ demand.

Accepted Answer

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

Question 9

A good brand name has several characteristics, including that it should

Accepted Answer

A)   avoid the use of a humorous connotation.
B)   be simple and emotional.
C)   suggest but not copy entirely the leading brand.
D)   be patented.
E)   be easy to spell and pronounce.F) C) and E)
G) B) and D)

Question 10

Even though Liquid Paper correction fluid is in the ________ stage of its product life cycle, Sanford, its manufacturer, has not deleted it from its line because there is still a residual core of consumers who use the product.

Accepted Answer

A)   decline
B)   introduction
C)   growth
D)   maturity
E)   decelerationF) A) and B)
G) C) and D)

Question 11

Any word, device (design, sound, shape, or color) , or combination of these used to distinguish a seller's products or services is referred to as a

Accepted Answer

A)   brand name.
B)   copyright.
C)   trade name.
D)   trademark.
E)   label.F) A) and B)
G) A) and C)

Question 12

When a product reaches the decline stage of the product life cycle, a firm has two choices. One choice involves product deletion-dropping it from a firm's product line. The other is called ________, which retains the product in the product line but reduces marketing costs.

Accepted Answer

A)   skimming
B)   paring
C)   divesting
D)   milking
E)   harvestingF) None of the above
G) B) and D)

Question 13

When a company uses a product line extension, it

Accepted Answer

A)   markets a product under a new brand name so that consumers will view it as an entirely new product line.
B)   markets a new product with the current brand name to enter a new market segment in its product class.
C)   speeds up the movement of a product through its product life cycle.
D)   contracts with another firm to manufacture modified versions of the original products.
E)   applies the current brand name to enter a completely different product class.F) A) and B)
G) D) and E)

Question 14

If Procter & Gamble (P&G)  were to package a Gillette Fusion ProGlide Razor with its Gillette Fusion Hydragel, P&G would be engaged in

Accepted Answer

A)   a BOGO deal.
B)   product modification.
C)   product bundling.
D)   product repositioning.
E)   product differentiation.F) A) and E)
G) None of the above

Question 15

There are several reasons a consumer would be reluctant to adopt a new product. For example, a consumer might be reluctant to adopt a new product because of a psychological barrier, which occurs when

Accepted Answer

A)   there is no incentive to change.
B)   there are physical, economic, or social risks.
C)   there are cultural differences or image problems.
D)   the financial commitment is too great.
E)   the product is not consistent with existing habits.F) B) and E)
G) B) and D)

Question 16

A manufacturer of a new sparkling water arranges to give free samples of the product at all Costco stores to

Accepted Answer

A)   stimulate laggard usage of the product.
B)   inhibit the innovation diffusion process.
C)   encourage product trial and adoption.
D)   erect product adoption barriers against its competitors.
E)   circumvent the typical adoption cycle.F) C) and D)
G) B) and D)

Question 17

Imagine that Eveready has developed solar rechargeable batteries that cost only slightly more to produce than the rechargeable batteries currently available. These solar batteries can be recharged by sunlight up to five times, after which they must be discarded. Unfortunately, the production process cannot be patented, so competitors could enter the market within a year. Which of the following would be the least sound marketing program decision?

Accepted Answer

A)   Select a skimming pricing strategy to position the product as "premium."
B)   Seek widespread distribution to gain a foothold in what might be a potentially huge market.
C)   Limit production capacity until you are certain consumers will actually want the product.
D)   Avoid a connection to the Eveready brand until the product has proven itself.
E)   Use multiple brand names to discourage other competitors from entering the market.F) B) and C)
G) None of the above

Question 18

Figure 11-1
-Figure 11-1 above represents the stages of the product life cycle. What does the curve labeled X represent?

Accepted Answer

A)   total variable costs
B)   total fixed costs
C)   total industry profit
D)   total industry sales revenue
E)   total research and development costsF) None of the above
G) A) and C)

Question 19

Sealy, the self-proclaimed largest manufacturer of mattresses in the United States, recently set out to redefine its place in the bedrooms of America. No longer was it going to be known as simply a mattress company. Now the name Sealy was going to be known as the world's leading "sleep wellness provider." This is an example of

Accepted Answer

A)   reverse marketing.
B)   demarketing.
C)   repositioning.
D)   resegmenting.
E)   positioning.F) B) and D)
G) A) and E)

Question 20

For any product to be successful, it must be purchased by

Accepted Answer

A)   early adopters and laggards.
B)   early majority and late majority.
C)   late majority and laggards.
D)   innovators and early majority.
E)   innovators and early adopters.F) D) and E)
G) A) and B)

Exam 11: Managing Successful Products, Services, and Brands

There are several reasons a consumer would be reluctant to adopt a new product. For example, a consumer might be reluctant to adopt a new product because of a psychological barrier, which occurs when

Correct Answer
verified

In terms of the diffusion of innovation, early majority accounts for ________ percent of product adopters.

Correct Answer
verified

Footwear is an example of a ________ while men's dress shoes are an example of a

Correct Answer
verified

When a product reaches the decline stage of the product life cycle, a firm has two choices. One choice involves product deletion-dropping it from a firm's product line. The other is called ________, which retains the product in the product line but reduces marketing costs.

Correct Answer
verified

Correct Answer
verified

Figure 11-5 -The consumers represented by Segment B in Figure 11-5 above are called

Correct Answer
verified

When a company uses a product line extension, it

Correct Answer
verified

Even though Liquid Paper correction fluid is in the ________ stage of its product life cycle, Sanford, its manufacturer, has not deleted it from its line because there is still a residual core of consumers who use the product.

Correct Answer
verified

A good brand name has several characteristics, including that it should

Correct Answer
verified

Correct Answer
verified

A manufacturer of a new sparkling water arranges to give free samples of the product at all Costco stores to

Correct Answer
verified

Vinyl records, cassette tapes, CDs, and music downloads (MP3 files) are all members of the same

Correct Answer
verified

If Procter & Gamble (P&G) were to package a Gillette Fusion ProGlide Razor with its Gillette Fusion Hydragel, P&G would be engaged in

Correct Answer
verified

Figure 11-3 -The product life cycle shown in Box C in Figure 11-3 above represents a ________ product.

Correct Answer
verified

The desire for a product class rather than for a specific brand is called ________ demand.

Correct Answer
verified

For any product to be successful, it must be purchased by

Correct Answer
verified

Twitter uses a stylized blue or white bird with no text as its

Correct Answer
verified

Which of the following statements about the introduction stage of the product life cycle is most accurate?

Correct Answer
verified

Figure 11-1 -Figure 11-1 above represents the stages of the product life cycle. What does the curve labeled X represent?

Correct Answer
verified

Any word, device (design, sound, shape, or color) , or combination of these used to distinguish a seller's products or services is referred to as a

Correct Answer
verified

Exam 11: Managing Successful Products, Services, and Brands

There are several reasons a consumer would be reluctant to adopt a new product. For example, a consumer might be reluctant to adopt a new product because of a psychological barrier, which occurs when

Correct AnswerverifiedShow Answer

In terms of the diffusion of innovation, early majority accounts for ________ percent of product adopters.

Correct AnswerverifiedShow Answer

Footwear is an example of a ________ while men's dress shoes are an example of a

Correct AnswerverifiedShow Answer

When a product reaches the decline stage of the product life cycle, a firm has two choices. One choice involves product deletion-dropping it from a firm's product line. The other is called ________, which retains the product in the product line but reduces marketing costs.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Figure 11-5 -The consumers represented by Segment B in Figure 11-5 above are called

Correct AnswerverifiedShow Answer

When a company uses a product line extension, it

Correct AnswerverifiedShow Answer

Even though Liquid Paper correction fluid is in the ________ stage of its product life cycle, Sanford, its manufacturer, has not deleted it from its line because there is still a residual core of consumers who use the product.

Correct AnswerverifiedShow Answer

A good brand name has several characteristics, including that it should

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A manufacturer of a new sparkling water arranges to give free samples of the product at all Costco stores to

Correct AnswerverifiedShow Answer

Vinyl records, cassette tapes, CDs, and music downloads (MP3 files) are all members of the same

Correct AnswerverifiedShow Answer

If Procter & Gamble (P&G) were to package a Gillette Fusion ProGlide Razor with its Gillette Fusion Hydragel, P&G would be engaged in

Correct AnswerverifiedShow Answer

Figure 11-3 -The product life cycle shown in Box C in Figure 11-3 above represents a ________ product.

Correct AnswerverifiedShow Answer

The desire for a product class rather than for a specific brand is called ________ demand.

Correct AnswerverifiedShow Answer

For any product to be successful, it must be purchased by

Correct AnswerverifiedShow Answer

Twitter uses a stylized blue or white bird with no text as its

Correct AnswerverifiedShow Answer

Which of the following statements about the introduction stage of the product life cycle is most accurate?

Correct AnswerverifiedShow Answer

Figure 11-1 -Figure 11-1 above represents the stages of the product life cycle. What does the curve labeled X represent?

Correct AnswerverifiedShow Answer

Any word, device (design, sound, shape, or color) , or combination of these used to distinguish a seller's products or services is referred to as a

Correct AnswerverifiedShow Answer

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