Question 1

A strategy of harvesting may be employed in the decline stage of a product life to

Accepted Answer

A)   maintain primary demand for a product category.
B)   acquire as many new customers as possible.
C)   maintain the ability to meet ongoing customers' requests.
D)   eliminate all production costs.
E)   reposition the product.F) B) and D)
G) A) and B)

Question 2

The two most common pricing alternatives for products in the introduction stage of the product life cycle are

Accepted Answer

A)   skimming pricing and penetration pricing.
B)   price lining and product line pricing.
C)   markdown pricing and quantity discount pricing.
D)   skimming pricing and bundle pricing.
E)   penetration pricing and experience curve pricing.F) A) and C)
G) A) and B)

Question 3

The primary purpose of a trademark is to

Accepted Answer

A)   legally protect a product's brand name or trade name and prevent others from using it.
B)   allow a company to use the brand name on multiple products in its product line.
C)   legally identify the product as having met government standards for its product item.
D)   help consumers identify a genuine product from a counterfeit product.
E)   capitalize on the brand equity a consumer associates with the symbol, sound, or image.F) A) and C)
G) C) and E)

Question 4

When Proctor & Gamble revamped Pantene shampoo and conditioner with a new vitamin formula and relaunched the brand with a multimillion-dollar advertising and promotion campaign, what strategy did it use to manage the product through its life cycle?

Accepted Answer

A)   market modification
B)   product redevelopment
C)   market-product synergy
D)   product positioning
E)   product modificationF) None of the above
G) B) and C)

Question 5

Pez was originally sold in Europe as ________ in plain headless dispensers.

Accepted Answer

A)   chewing gum
B)   a breath mint
C)   an antacid
D)   a pain reliever
E)   candyF) D) and E)
G) C) and D)

Question 6

The 3M Co. is a master of the ________ pricing strategy. According to a 3M manager, "We hit fast, price high, and get the heck out when the me-too products pour in."

Accepted Answer

A)   penetration
B)   cost-plus
C)   ROI
D)   market-oriented
E)   skimmingF) B) and D)
G) B) and E)

Question 7

What role do people play in the managing of services?

Accepted Answer

Many services depend on people for the c...

Question 8

Which step in the sequential process of building the brand equity pyramid is most difficult to achieve?

Accepted Answer

A)   easing consumers' decision making
B)   forming a brand personality
C)   creating a consumer-brand connection
D)   rewarding loyal customer behavior
E)   developing brand licensing criteriaF) A) and D)
G) A) and E)

Question 9

Which of the following is one of the four alternatives for branding strategy that companies can employ?

Accepted Answer

A)   retailer branding
B)   intermediary branding
C)   brand licensing
D)   multiproduct branding
E)   commercials brandingF) A) and B)
G) None of the above

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 and other products under the name of a reseller because the segment attracted to the reseller is different from its own market.F) B) and E)
G) C) and D)

Question 11

What agency registers the trademarks of a firm?

Accepted Answer

A)   U.S. Chamber of Commerce Trademark and Servicemark Office
B)   U.S. Department of Commerce Trademark Registry
C)   United Nations Global Trademark Clearinghouse
D)   U.S. Federal Trade Commission-Trademark Division
E)   U.S. Patent and Trademark OfficeF) D) and E)
G) A) and E)

Question 12

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

Accepted Answer

A)   a usage
B)   a risk
C)   a value
D)   an emotional
E)   a psychologicalF) B) and D)
G) None of the above

Question 13

Which of the following statements about product line extensions is most accurate?

Accepted Answer

A)   A product line extension strategy typically leads to increased advertising costs.
B)   There are no risks associated with a product line extension strategy.
C)   When the Clorox Co. joins with Kroger supermarkets to advertise Clorox products in a local newspaper, it is engaged in a product line extension.
D)   A product line extension is a form of multiproduct branding.
E)   A product line extension is a form of multibranding.F) B) and E)
G) D) and E)

Question 14

Service firms can manage their physical environment to influence customers' perceptions through

Accepted Answer

A)   service delivery management.
B)   relationship management.
C)   customer experience management.
D)   exposure management.
E)   impression management.F) D) and E)
G) B) and E)

Question 15

The three main benefits packaging provides to manufacturers, retailers, and consumers include which of the following?

Accepted Answer

A)   personal
B)   communication
C)   financial
D)   societal
E)   aestheticF) B) and C)
G) A) and E)

Question 16

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 17

The GPS SmartSole is a discreet wearable insole that fits in the shoe and provides GPS tracking of the wearer. This product is being marketed as an inexpensive solution for caregivers whose charges are prone to wandering, like those with Alzheimer's or autism. When the insoles were first made available to consumers, what was the marketing objective for the company at that early stage of the product life cycle?

Accepted Answer

A)   stress differentiation from other saving products
B)   maintain brand loyalty
C)   allow users to spend time doing other things
D)   create awareness and stimulate trial
E)   target a whole new group of consumersF) B) and E)
G) All of the above

Question 18

In the late 1950s and 1960s, television westerns were extremely popular and included Gunsmoke, Bonanza, Wagon Train, and The Big Valley. When ratings declined as viewers' tastes changed, production companies found the networks no longer wanted to buy and televise such shows. The production companies used a(n)  ________ strategy and stopped production on all television westerns when the networks stopped showing them.

Accepted Answer

A)   diversification
B)   aggregation
C)   segmentation
D)   deletion
E)   harvestingF) C) and D)
G) A) and E)

Question 19

Figure 10-4
-Figure 10-4 above shows that in 1995, CDs were in the ________ stage of the product life cycle, while cassette tapes were in the ________ stage.

Accepted Answer

A)   introduction; growth
B)   growth; introduction
C)   maturity; growth
D)   harvest; decline
E)   growth; declineF) A) and E)
G) C) and D)

Question 20

In which stage of the product life cycle do marginal competitors begin to leave the market?

Accepted Answer

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

Exam 10: Managing Successful Products, Services, and Brands

Figure 10-4 -Figure 10-4 above shows that in 1995, CDs were in the stage of the product life cycle, while cassette tapes were in the stage.

Correct Answer
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In which stage of the product life cycle do marginal competitors begin to leave the market?

Correct Answer
verified

What agency registers the trademarks of a firm?

Correct Answer
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Which step in the sequential process of building the brand equity pyramid is most difficult to achieve?

Correct Answer
verified

The three main benefits packaging provides to manufacturers, retailers, and consumers include which of the following?

Correct Answer
verified

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

Correct Answer
verified

When Proctor & Gamble revamped Pantene shampoo and conditioner with a new vitamin formula and relaunched the brand with a multimillion-dollar advertising and promotion campaign, what strategy did it use to manage the product through its life cycle?

Correct Answer
verified

A strategy of harvesting may be employed in the decline stage of a product life to

Correct Answer
verified

The primary purpose of a trademark is to

Correct Answer
verified

What role do people play in the managing of services?

Correct Answer
verified
Many services depend on people for the c...
View Answer

Pez was originally sold in Europe as ________ in plain headless dispensers.

Correct Answer
verified

Mixed branding refers to a branding strategy in which a firm

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

Correct Answer
verified

Service firms can manage their physical environment to influence customers' perceptions through

Correct Answer
verified

The two most common pricing alternatives for products in the introduction stage of the product life cycle are

Correct Answer
verified

Correct Answer
verified

The 3M Co. is a master of the ________ pricing strategy. According to a 3M manager, "We hit fast, price high, and get the heck out when the me-too products pour in."

Correct Answer
verified

Which of the following is one of the four alternatives for branding strategy that companies can employ?

Correct Answer
verified

Which of the following statements about product line extensions is most accurate?

Correct Answer
verified

Exam 10: Managing Successful Products, Services, and Brands

Figure 10-4 -Figure 10-4 above shows that in 1995, CDs were in the ________ stage of the product life cycle, while cassette tapes were in the ________ stage.

Correct AnswerverifiedShow Answer

In which stage of the product life cycle do marginal competitors begin to leave the market?

Correct AnswerverifiedShow Answer

What agency registers the trademarks of a firm?

Correct AnswerverifiedShow Answer

Which step in the sequential process of building the brand equity pyramid is most difficult to achieve?

Correct AnswerverifiedShow Answer

The three main benefits packaging provides to manufacturers, retailers, and consumers include which of the following?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When Proctor & Gamble revamped Pantene shampoo and conditioner with a new vitamin formula and relaunched the brand with a multimillion-dollar advertising and promotion campaign, what strategy did it use to manage the product through its life cycle?

Correct AnswerverifiedShow Answer

A strategy of harvesting may be employed in the decline stage of a product life to

Correct AnswerverifiedShow Answer

The primary purpose of a trademark is to

Correct AnswerverifiedShow Answer

What role do people play in the managing of services?

Correct AnswerverifiedMany services depend on people for the c...View AnswerShow Answer

Pez was originally sold in Europe as ________ in plain headless dispensers.

Correct AnswerverifiedShow Answer

Mixed branding refers to a branding strategy in which a firm

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

Correct AnswerverifiedShow Answer

Service firms can manage their physical environment to influence customers' perceptions through

Correct AnswerverifiedShow Answer

The two most common pricing alternatives for products in the introduction stage of the product life cycle are

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The 3M Co. is a master of the ________ pricing strategy. According to a 3M manager, "We hit fast, price high, and get the heck out when the me-too products pour in."

Correct AnswerverifiedShow Answer

Which of the following is one of the four alternatives for branding strategy that companies can employ?

Correct AnswerverifiedShow Answer

Which of the following statements about product line extensions is most accurate?

Correct AnswerverifiedShow Answer

Figure 10-4 -Figure 10-4 above shows that in 1995, CDs were in the stage of the product life cycle, while cassette tapes were in the stage.

Correct Answer
verified

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
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Correct Answer
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Correct Answer
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Correct Answer
verified
Many services depend on people for the c...
View Answer

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

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
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