Question 1

Warranties, money-back guarantees, extensive usage instructions, demonstrations, and free samples are all ways in which companies attempt to ________ new product adoption.

Accepted Answer

A)   accelerate satisfaction with
B)   stabilize at maturity any
C)   minimize growth in competition during
D)   overcome barriers to
E)   prevent the precipitous decline ofF) B) and C)
G) A) and E)

Question 2

All of the following are true about the price element of services except which?

Accepted Answer

A)   Price can be referred to in a variety of terms.
B)   Price can affect consumer perceptions of the service.
C)   Price can be kept consistent through the use of off-peak pricing.
D)   Price can be used in capacity management.
E)   Price can be used in services to imply a level of quality.F) A) and B)
G) B) and E)

Question 3

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) All of the above
G) D) and E)

Question 4

Which of the following products would have a fad product life-cycle curve?

Accepted Answer

A)   women's hosiery
B)   electric cars
C)   convection ovens
D)   fidget spinners
E)   sport drinksF) B) and C)
G) A) and C)

Question 5

Electric automobiles like the Chevrolet Spark made by General Motors are in the introductory stage of the product life cycle. By comparison, 3D printers such as the LulzBot Mini are in the ________ of the product life cycle.

Accepted Answer

A)   decline stage
B)   commercialization stage
C)   accelerated development stage
D)   growth stage
E)   introduction stageF) A) and E)
G) A) and B)

Question 6

Desktop PCs are in which stage of their product life cycle according to the textbook?

Accepted Answer

A)   accelerated downturn
B)   cancellation
C)   decline
D)   maturity
E)   devaluationF) B) and C)
G) A) and E)

Question 7

All of the following are barriers to the adoption of new products except which?

Accepted Answer

A)   risk
B)   regulatory
C)   psychological
D)   usage
E)   valueF) C) and E)
G) C) and D)

Question 8

Bayer Aspirin is sold in the original strength, in a safety-coated version, in an extra-strength version, and in a version designed especially for women. Bayer is using a ________ strategy.

Accepted Answer

A)   product item expansion
B)   subbranding
C)   product line extension
D)   co-branding
E)   brand extensionF) B) and E)
G) All of the above

Question 9

In terms of their likely product life cycles, detox tea, unicorn-themed clothing, and beard oil are best categorized as being ________ products.

Accepted Answer

A)   fad
B)   low-learning
C)   fashion
D)   generalized
E)   high-learningF) A) and D)
G) None of the above

Question 10

A company may choose a skimming strategy during the introduction stage of its product to help recover costs of development and to

Accepted Answer

A)   capitalize on the price insensitivity of early buyers.
B)   discourage competition from other manufacturers.
C)   ease the product into its maturity stage.
D)   gain the largest unit sales possible.
E)   gain more distribution outlets.F) A) and B)
G) B) and D)

Question 11

While there are the four Ps of marketing, there are the ________ Ps of services marketing.

Accepted Answer

A)   three
B)   five
C)   six
D)   seven
E)   eightF) A) and E)
G) D) and E)

Question 12

A strategy for managing a product's life cycle that attempts to find new customers, increase a product's use among existing customers, or create new use situations is referred to as

Accepted Answer

A)   market modification.
B)   product modification.
C)   product repositioning.
D)   product extension.
E)   diversification.F) B) and E)
G) B) and C)

Question 13

Market modification refers to a marketing strategy that

Accepted Answer

A)   alters a product's characteristic, such as its quality, performance, or appearance, to increase its value to customers and to increase sales.
B)   manages a product's life cycle by finding new customers, increasing a product's use among existing customers, or creating new use situations.
C)   tries to find new customers and convince users who abandoned the product to purchase again.
D)   drops the lowest producing market segment and replaces it with an entirely new one.
E)   combines the two lowest producing market segments to achieve marketing economies of scale.F) A) and B)
G) A) and C)

Question 14

Men who tried the Gillette Fusion razor were so satisfied with it that 60 percent of them adopted the product permanently. Men who bought again are known as ________ purchasers.

Accepted Answer

A)   repeat
B)   routine
C)   cyclical
D)   habitual
E)   establishedF) A) and E)
G) C) and D)

Question 15

Many U.S. consumers purchase store brands like Kirkland at Costco because they provide a lower cost alternative to other brands, and such brands have about an 18 percent market share. 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) A) and E)
G) A) and B)

Question 16

The appearance of the environment in which the service is delivered and where the firm and customer interact can influence the customer's ________ of the service.

Accepted Answer

A)   creation
B)   branding
C)   exploitation
D)   life cycle
E)   perceptionF) B) and E)
G) C) and D)

Question 17

Known for its popular line of construction toys for boys, LEGO introduced a product line for young girls called LEGO Friends. This is an example of which market modification strategy?

Accepted Answer

A)   finding new users
B)   creating new use situations
C)   increasing a product's use by existing customers
D)   modifying the product
E)   reacting to competitors' positionsF) A) and E)
G) B) and E)

Question 18

Apple launched its iPad in 2010 and it, along with its companions IPad Pro and iPad mini, have become the world's bestselling tablet devices with their multitouch user interfaces and the availability of hundreds of thousands of apps. The product class has experienced tremendous growth in terms of sales and the addition of formidable competitors such as Samsung Galaxy, Amazon Fire, and Lenovo Tab, all vying for market share. In which stage of the product life cycle are the iPad and other tablets?

Accepted Answer

A)   maturity stage
B)   commercialization stage
C)   accelerated development stage
D)   growth stage
E)   introduction stageF) A) and E)
G) A) and B)

Question 19

CDI/BDI Marketing Dashboard
-If you were a marketing manager and were presented with the information in the CDI/BDI Marketing Dashboard above, you would determine that the ________ segment has the most opportunity for increasing Hawaiian Punch sales.

Accepted Answer

A)   households without children
B)   households with children 13 to 18 years old
C)   households with children 6 years old or under
D)   households with children 7 to 12 years old
E)   According to the BDI, all though some segments measure above a 100, there is still great opportunity for growth in every segmentF) B) and D)
G) C) and D)

Question 20

As product adopters in the diffusion of innovation, members of the late 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) B) and D)
G) A) and E)

Exam 10: Managing Successful Products, Services, and Brands

Men who tried the Gillette Fusion razor were so satisfied with it that 60 percent of them adopted the product permanently. Men who bought again are known as ________ purchasers.

Correct Answer
verified

Many U.S. consumers purchase store brands like Kirkland at Costco because they provide a lower cost alternative to other brands, and such brands have about an 18 percent market share. Companies like Costco use a ________ strategy to sell products that they do not manufacturer themselves.

Correct Answer
verified

In terms of their likely product life cycles, detox tea, unicorn-themed clothing, and beard oil are best categorized as being ________ products.

Correct Answer
verified

All of the following are barriers to the adoption of new products except which?

Correct Answer
verified

The appearance of the environment in which the service is delivered and where the firm and customer interact can influence the customer's ________ of the service.

Correct Answer
verified

A company may choose a skimming strategy during the introduction stage of its product to help recover costs of development and to

Correct Answer
verified

Which of the following products would have a fad product life-cycle curve?

Correct Answer
verified

Market modification refers to a marketing strategy that

Correct Answer
verified

Correct Answer
verified

All of the following are true about the price element of services except which?

Correct Answer
verified

While there are the four Ps of marketing, there are the ________ Ps of services marketing.

Correct Answer
verified

Known for its popular line of construction toys for boys, LEGO introduced a product line for young girls called LEGO Friends. This is an example of which market modification strategy?

Correct Answer
verified

CDI/BDI Marketing Dashboard -If you were a marketing manager and were presented with the information in the CDI/BDI Marketing Dashboard above, you would determine that the ________ segment has the most opportunity for increasing Hawaiian Punch sales.

Correct Answer
verified

Desktop PCs are in which stage of their product life cycle according to the textbook?

Correct Answer
verified

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

Correct Answer
verified

A strategy for managing a product's life cycle that attempts to find new customers, increase a product's use among existing customers, or create new use situations is referred to as

Correct Answer
verified

Electric automobiles like the Chevrolet Spark made by General Motors are in the introductory stage of the product life cycle. By comparison, 3D printers such as the LulzBot Mini are in the ________ of the product life cycle.

Correct Answer
verified

Bayer Aspirin is sold in the original strength, in a safety-coated version, in an extra-strength version, and in a version designed especially for women. Bayer is using a ________ strategy.

Correct Answer
verified

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

Correct Answer
verified

Warranties, money-back guarantees, extensive usage instructions, demonstrations, and free samples are all ways in which companies attempt to ________ new product adoption.

Correct Answer
verified

Exam 10: Managing Successful Products, Services, and Brands

Men who tried the Gillette Fusion razor were so satisfied with it that 60 percent of them adopted the product permanently. Men who bought again are known as ________ purchasers.

Correct AnswerverifiedShow Answer

Many U.S. consumers purchase store brands like Kirkland at Costco because they provide a lower cost alternative to other brands, and such brands have about an 18 percent market share. Companies like Costco use a ________ strategy to sell products that they do not manufacturer themselves.

Correct AnswerverifiedShow Answer

In terms of their likely product life cycles, detox tea, unicorn-themed clothing, and beard oil are best categorized as being ________ products.

Correct AnswerverifiedShow Answer

All of the following are barriers to the adoption of new products except which?

Correct AnswerverifiedShow Answer

The appearance of the environment in which the service is delivered and where the firm and customer interact can influence the customer's ________ of the service.

Correct AnswerverifiedShow Answer

A company may choose a skimming strategy during the introduction stage of its product to help recover costs of development and to

Correct AnswerverifiedShow Answer

Which of the following products would have a fad product life-cycle curve?

Correct AnswerverifiedShow Answer

Market modification refers to a marketing strategy that

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following are true about the price element of services except which?

Correct AnswerverifiedShow Answer

While there are the four Ps of marketing, there are the ________ Ps of services marketing.

Correct AnswerverifiedShow Answer

Known for its popular line of construction toys for boys, LEGO introduced a product line for young girls called LEGO Friends. This is an example of which market modification strategy?

Correct AnswerverifiedShow Answer

CDI/BDI Marketing Dashboard -If you were a marketing manager and were presented with the information in the CDI/BDI Marketing Dashboard above, you would determine that the ________ segment has the most opportunity for increasing Hawaiian Punch sales.

Correct AnswerverifiedShow Answer

Desktop PCs are in which stage of their product life cycle according to the textbook?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A strategy for managing a product's life cycle that attempts to find new customers, increase a product's use among existing customers, or create new use situations is referred to as

Correct AnswerverifiedShow Answer

Electric automobiles like the Chevrolet Spark made by General Motors are in the introductory stage of the product life cycle. By comparison, 3D printers such as the LulzBot Mini are in the ________ of the product life cycle.

Correct AnswerverifiedShow Answer

Bayer Aspirin is sold in the original strength, in a safety-coated version, in an extra-strength version, and in a version designed especially for women. Bayer is using a ________ strategy.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Warranties, money-back guarantees, extensive usage instructions, demonstrations, and free samples are all ways in which companies attempt to ________ new product adoption.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified