Question 1

Co-branding involves

Accepted Answer

A)   combining a corporate brand with a family brand.
B)   pairing two or more strong brands to facilitate the marketing of a joint product.
C)   using the same brand names for the same product in multiple countries.
D)   using the same name for the original product and for all subsequent product line extensions.
E)   using a current brand name to enter a different product class.F) A) and E)
G) All of the above

Question 2

A manufacturer can successfully use mixed branding because

Accepted Answer

A)   it involves giving each product a distinct brand name.
B)   the segment attracted to the reseller product is different from its own targeted market segment.
C)   the company uses one name for all of its products for the sake of simplicity.
D)   it is easy to do.
E)   it produces lower profits for the reseller and higher profits for the manufacturer.F) B) and E)
G) A) and B)

Question 3

The marketing objective for a product in the ________ stage of the product life cycle is to create consumer awareness and stimulate trial.

Accepted Answer

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

Question 4

As product adopters in the diffusion of innovation, members of the early majority

Accepted Answer

A)   have a fear of debt and use neighbors and friends as information sources.
B)   are skeptical and have below average social status.
C)   are deliberate and use many informal social contacts.
D)   are leaders in social settings and have a slightly above average education.
E)   are venturesome, highly educated, and use multiple information sources.F) C) and E)
G) B) and D)

Question 5

A manufacturer of a new all-natural-ingredient shampoo and conditioner puts free samples of the product in Sunday newspapers 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) All of the above
G) B) and D)

Question 6

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

Accepted Answer

Often a company decides to reposition it...

Question 7

Describe the decline stage of the product life cycle. Explain the two strategies a company might employ if its product were in the decline stage of its product life cycle.

Accepted Answer

The decline stage occurs when sales drop...

Question 8

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 E)
G) A) and B)

Question 9

The life cycle of a product depends on product adoption by consumers as measured by

Accepted Answer

A)   sales.
B)   word-of-mouth.
C)   number of competitors.
D)   regulators.
E)   product proliferation.F) C) and D)
G) A) and E)

Question 10

Figure 10-7
-Companies can employ several different branding strategies. In Figure 10-7 above, C represents a ________ strategy.

Accepted Answer

A)   retailer branding
B)   multiproduct branding
C)   multibranding
D)   private branding
E)   mixed brandingF) B) and D)
G) A) and D)

Question 11

New Balance, Inc., successfully repositioned its athletic shoes to focus on fit, durability, and comfort rather than on going head-on against Nike and Adidas on professional sports and fashion, respectively. This product repositioning strategy was designed to

Accepted Answer

A)   react to a competitor's position.
B)   reach a new target market segment.
C)   catch a rising trend.
D)   change the value offered to its customers.
E)   accommodate its target audience preference for comfortable sneakers.F) A) and B)
G) A) and E)

Question 12

The time a product can be stored before it spoils is referred to as its

Accepted Answer

A)   product life cycle.
B)   use-by date.
C)   spoilage index.
D)   shelf life.
E)   expiration date.F) C) and D)
G) B) and E)

Question 13

The stylized blue and white waves that appear in an oval shape on every package of Ocean Spray brand products is an example of a

Accepted Answer

A)   copyright.
B)   operational ID.
C)   patent.
D)   brand name.
E)   label.F) A) and E)
G) B) and D)

Question 14

Figure 10-6
-Figure 10-6 above shows the sequential process of building brand equity. Segment A represents the first step, which is to

Accepted Answer

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

Question 15

Because of the intangible nature of services, consumers often perceive price as a possible indicator of the ________ of the service.

Accepted Answer

A)   profit or ROI
B)   customer value
C)   quality
D)   target market
E)   costF) None of the above
G) A) and B)

Question 16

During the introduction stage of the product life cycle, the strategy that discourages competitive entry by charging a low price for a new product is referred to as ________ pricing.

Accepted Answer

A)   penetration
B)   cost-plus
C)   target ROI
D)   below-market
E)   skimmingF) All of the above
G) B) and E)

Question 17

The Toro Co. makes Toro snowblowers, Toro lawn mowers, Toro yard tools, and Toro sprinkler systems. The Toro Co. uses a ________ strategy.

Accepted Answer

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

Question 18

The initial purchase of a product by a consumer is referred to as

Accepted Answer

A)   a product sampling.
B)   a first buy.
C)   a trial.
D)   an assessment.
E)   an examination period.F) C) and D)
G) A) and C)

Question 19

Multibranding refers to a branding strategy in which a firm

Accepted Answer

A)   gives each product a distinct name as a method to appeal to various target markets.
B)   uses different brand names for the same product across multiple countries.
C)   uses one name for all its products in a product class, though each is intended for a different market segment.
D)   produces products but sells 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 specifications.F) B) and D)
G) C) and D)

Question 20

Unlike tangible goods, many services depend on ________, one of the seven Ps of services, for the creation and delivery of the customer service experience.

Accepted Answer

A)   people
B)   profitability
C)   process
D)   productivity
E)   physical environmentF) A) and B)
G) A) and C)

Exam 10: Managing Successful Products, Services, and Brands

The initial purchase of a product by a consumer is referred to as

Correct AnswerverifiedShow Answer

Multibranding refers to a branding strategy in which a firm

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

As product adopters in the diffusion of innovation, members of the early majority

Correct AnswerverifiedShow Answer

A manufacturer can successfully use mixed branding because

Correct AnswerverifiedShow Answer

A manufacturer of a new all-natural-ingredient shampoo and conditioner puts free samples of the product in Sunday newspapers to

Correct AnswerverifiedShow Answer

New Balance, Inc., successfully repositioned its athletic shoes to focus on fit, durability, and comfort rather than on going head-on against Nike and Adidas on professional sports and fashion, respectively. This product repositioning strategy was designed to

Correct AnswerverifiedShow Answer

Because of the intangible nature of services, consumers often perceive price as a possible indicator of the ________ of the service.

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

During the introduction stage of the product life cycle, the strategy that discourages competitive entry by charging a low price for a new product is referred to as ________ pricing.

Correct AnswerverifiedShow Answer

Describe the decline stage of the product life cycle. Explain the two strategies a company might employ if its product were in the decline stage of its product life cycle.

Correct AnswerverifiedThe decline stage occurs when sales drop...View AnswerShow Answer

Co-branding involves

Correct AnswerverifiedShow Answer

The time a product can be stored before it spoils is referred to as its

Correct AnswerverifiedShow Answer

The stylized blue and white waves that appear in an oval shape on every package of Ocean Spray brand products is an example of a

Correct AnswerverifiedShow Answer

Figure 10-6 -Figure 10-6 above shows the sequential process of building brand equity. Segment A represents the first step, which is to

Correct AnswerverifiedShow Answer

Unlike tangible goods, many services depend on ________, one of the seven Ps of services, for the creation and delivery of the customer service experience.

Correct AnswerverifiedShow Answer

The marketing objective for a product in the ________ stage of the product life cycle is to create consumer awareness and stimulate trial.

Correct AnswerverifiedShow Answer

The life cycle of a product depends on product adoption by consumers as measured by

Correct AnswerverifiedShow Answer

The Toro Co. makes Toro snowblowers, Toro lawn mowers, Toro yard tools, and Toro sprinkler systems. The Toro Co. uses a ________ strategy.

Correct AnswerverifiedShow Answer

Figure 10-7 -Companies can employ several different branding strategies. In Figure 10-7 above, C represents a ________ strategy.

Correct AnswerverifiedShow Answer

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Often a company decides to reposition it...
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The decline stage occurs when sales drop...
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