Question 1

Customer value can assume numerous forms. For Pez Candy, Inc., customer value manifests itself in the form of

Accepted Answer

A)   an upbeat jingle.
B)   character candy dispensers.
C)   a stylish logotype.
D)   sour taste.
E)   sugar coating.F) C) and D)
G) C) and E)

Question 2

Gatorade is most likely in which stage of its product life cycle?

Accepted Answer

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

Question 3

Your product has been suffering from steadily eroding sales. You have tried a number of options to revitalize the product's sales and profits, but after seven changes in your strategy, you have yet to find success. Which of the following actions would be the least appropriate next step?

Accepted Answer

A)   Delete the product from the line.
B)   Retain the product, but reduce its marketing costs.
C)   Stimulate primary demand.
D)   Stimulate selective demand.
E)   Rebrand the product.F) A) and B)
G) A) and C)

Question 4

Many U.S. consumers purchase store brands like Kirkland at Costco because they provide a lower cost alternative to other brands. Companies like Costco use a ________ strategy to sell products that they do not manufacturer themselves.

Accepted Answer

A)   generic branding
B)   multibranding
C)   co-branding
D)   multiproduct branding
E)   private brandingF) B) and C)
G) A) and B)

Question 5

When Coca-Cola promoted Coke as a morning beverage for those consumers who don't drink coffee, it used a ________ strategy.

Accepted Answer

A)   product modification
B)   brand modification
C)   market-product extension
D)   diversification
E)   market modificationF) A) and B)
G) C) and E)

Question 6

Which of the following quotes from a new-product adopter would signal the need for a firm to counteract a psychological barrier?

Accepted Answer

A)   "I feel self-conscious wearing this."
B)   "What if I can't make the monthly payments?"
C)   "I don't want to try this if it means I have to swallow it with milk."
D)   "It looks just like the old version."
E)   "Sure I'll try it; why not!"F) A) and B)
G) A) and E)

Question 7

There is no set time that a product takes to move through its life cycle. But as a rule,

Accepted Answer

A)   services are highly affected by social trends while tangible goods are not.
B)   consumer products have shorter life cycles than business products.
C)   business products typically show very short maturity stages.
D)   technological change tends to lengthen product life cycles.
E)   product life cycles are longer for ideas than for services.F) A) and B)
G) A) and C)

Question 8

Figure 11-7
-Companies can employ several different branding strategies. In Figure 11-7 above, B represents a ________ strategy.

Accepted Answer

A)   retailer branding
B)   multiproduct branding
C)   multibranding
D)   private branding
E)   mixed brandingF) None of the above
G) A) and B)

Question 9

The fourth and final 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 brands identity and meaning.
D)   create an intense, active, and loyal consumer-brand connection.
E)   reward loyal customer behavior.F) B) and D)
G) C) and D)

Question 10

Mixed 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)   markets some products under its own name(s)  and other products under the name of a reseller because the segment attracted to the reseller is different from its own market.F) D) and E)
G) All of the above

Question 11

What is the marketing objective for the decline stage of the product life cycle?

Accepted Answer

A)   start harvesting
B)   add outlets
C)   stress differentiation
D)   gain awareness
E)   maintain brand loyaltyF) A) and E)
G) A) and B)

Question 12

Which of the following statements about perceptual benefits conveyed by a product's packaging and labeling is false?

Accepted Answer

A)   Packaging and labeling convey a brand's positioning and build brand equity.
B)   Packaging and labeling have been shown to enhance brand recognition and facilitate the formation of strong, favorable, and unique brand associations.
C)   The legal requirements for the conveyance of information are an important component of perceptual benefits.
D)   Changes in packaging and labeling can update or uphold a brand's image in consumers' minds.
E)   The color, shape, and graphics of a package or label can help distinguish one brand from another.F) C) and E)
G) A) and D)

Question 13

Three important aspects of product life cycles are their length, the shape of their sales curves, and

Accepted Answer

A)   the propensity for consumers to switch brands.
B)   the difference between product classes and forms.
C)   the impact of word-of-mouth.
D)   whether competitors create rival offerings.
E)   how environmental forces change the environment.F) D) and E)
G) C) and D)

Question 14

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

Accepted Answer

A)   product paring.
B)   down trading.
C)   product deflation.
D)   trading down.
E)   product simplification.F) B) and E)
G) A) and E)

Question 15

Define brand equity. List the four sequential steps used to develop brand equity. Which step is the most difficult?

Accepted Answer

Brand equity is the added value a brand ...

Question 16

If a customer is reluctant to try a new product because she's afraid it might make her ill, the product is most likely facing ________ barrier.

Accepted Answer

A)   a usage
B)   a risk
C)   a value
D)   an emotional
E)   a psychologicalF) A) and B)
G) B) and E)

Question 17

Hot-Can Café Latte coffee comes in single-serving, self-heating containers. Not only does this benefit people on the go, it is a popular product with backpackers and hunters because they can still have hot coffee when there is no electricity - no heat source necessary! This demonstrates which benefit of good packaging?

Accepted Answer

A)   communication benefit
B)   perceptual benefit
C)   financial benefit
D)   societal benefit
E)   functional benefitF) A) and D)
G) A) and C)

Question 18

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

Accepted Answer

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

Question 19

Figure 11-6
-Figure 11-6 above shows the sequential process of building brand equity. F represents the fourth and last step, which is to

Accepted Answer

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

Question 20

Figure 11-1
-Figure 11-1 above represents the stages of the product life cycle. What does the section of the graph labeled B represent?

Accepted Answer

A)   progression
B)   maturity
C)   growth
D)   accelerated development
E)   declineF) B) and D)
G) A) and B)

Exam 11: Managing Successful Products, Services, and Brands

There is no set time that a product takes to move through its life cycle. But as a rule,

Correct Answer
verified

If a customer is reluctant to try a new product because she's afraid it might make her ill, the product is most likely facing ________ barrier.

Correct Answer
verified

Three important aspects of product life cycles are their length, the shape of their sales curves, and

Correct Answer
verified

The fourth and final step in the sequential process of building brand equity is to

Correct Answer
verified

Mixed branding refers to a branding strategy in which a firm

Correct Answer
verified

Gatorade is most likely in which stage of its product life cycle?

Correct Answer
verified

Figure 11-1 -Figure 11-1 above represents the stages of the product life cycle. What does the section of the graph labeled B represent?

Correct Answer
verified

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

Correct Answer
verified

What is the marketing objective for the decline stage of the product life cycle?

Correct Answer
verified

Figure 11-6 -Figure 11-6 above shows the sequential process of building brand equity. F represents the fourth and last step, which is to

Correct Answer
verified

Figure 11-7 -Companies can employ several different branding strategies. In Figure 11-7 above, B represents a ________ strategy.

Correct Answer
verified

Many U.S. consumers purchase store brands like Kirkland at Costco because they provide a lower cost alternative to other brands. Companies like Costco use a ________ strategy to sell products that they do not manufacturer themselves.

Correct Answer
verified

When Coca-Cola promoted Coke as a morning beverage for those consumers who don't drink coffee, it used a ________ strategy.

Correct Answer
verified

Which of the following quotes from a new-product adopter would signal the need for a firm to counteract a psychological barrier?

Correct Answer
verified

Which of the following statements about perceptual benefits conveyed by a product's packaging and labeling is false?

Correct Answer
verified

Customer value can assume numerous forms. For Pez Candy, Inc., customer value manifests itself in the form of

Correct Answer
verified

Correct Answer
verified

Your product has been suffering from steadily eroding sales. You have tried a number of options to revitalize the product's sales and profits, but after seven changes in your strategy, you have yet to find success. Which of the following actions would be the least appropriate next step?

Correct Answer
verified

Define brand equity. List the four sequential steps used to develop brand equity. Which step is the most difficult?

Correct Answer
verified
Brand equity is the added value a brand ...
View Answer

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

Correct Answer
verified

Exam 11: Managing Successful Products, Services, and Brands

There is no set time that a product takes to move through its life cycle. But as a rule,

Correct AnswerverifiedShow Answer

If a customer is reluctant to try a new product because she's afraid it might make her ill, the product is most likely facing ________ barrier.

Correct AnswerverifiedShow Answer

Three important aspects of product life cycles are their length, the shape of their sales curves, and

Correct AnswerverifiedShow Answer

The fourth and final step in the sequential process of building brand equity is to

Correct AnswerverifiedShow Answer

Mixed branding refers to a branding strategy in which a firm

Correct AnswerverifiedShow Answer

Gatorade is most likely in which stage of its product life cycle?

Correct AnswerverifiedShow Answer

Figure 11-1 -Figure 11-1 above represents the stages of the product life cycle. What does the section of the graph labeled B represent?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What is the marketing objective for the decline stage of the product life cycle?

Correct AnswerverifiedShow Answer

Figure 11-6 -Figure 11-6 above shows the sequential process of building brand equity. F represents the fourth and last step, which is to

Correct AnswerverifiedShow Answer

Figure 11-7 -Companies can employ several different branding strategies. In Figure 11-7 above, B represents a ________ strategy.

Correct AnswerverifiedShow Answer

Many U.S. consumers purchase store brands like Kirkland at Costco because they provide a lower cost alternative to other brands. Companies like Costco use a ________ strategy to sell products that they do not manufacturer themselves.

Correct AnswerverifiedShow Answer

When Coca-Cola promoted Coke as a morning beverage for those consumers who don't drink coffee, it used a ________ strategy.

Correct AnswerverifiedShow Answer

Which of the following quotes from a new-product adopter would signal the need for a firm to counteract a psychological barrier?

Correct AnswerverifiedShow Answer

Which of the following statements about perceptual benefits conveyed by a product's packaging and labeling is false?

Correct AnswerverifiedShow Answer

Customer value can assume numerous forms. For Pez Candy, Inc., customer value manifests itself in the form of

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Your product has been suffering from steadily eroding sales. You have tried a number of options to revitalize the product's sales and profits, but after seven changes in your strategy, you have yet to find success. Which of the following actions would be the least appropriate next step?

Correct AnswerverifiedShow Answer

Define brand equity. List the four sequential steps used to develop brand equity. Which step is the most difficult?

Correct AnswerverifiedBrand equity is the added value a brand ...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Brand equity is the added value a brand ...
View Answer

Correct Answer
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