Question 1

At which stage of the product life cycle is a company likely to have its most complete product line?

Accepted Answer

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

Question 2

In terms of the diffusion of innovation, innovators account for ________ percent of product adopters.

Accepted Answer

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

Question 3

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

Accepted Answer

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

Question 4

Hot-Can Café Latte 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) None of the above
G) B) and C)

Question 5

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) D) and E)
G) A) and E)

Question 6

Which of the following statements regarding service branding is most accurate?

Accepted Answer

A)   New services cannot be patented and therefore are rarely branded.
B)   Because services are intangible and more difficult to describe, brand names and logos are of critical importance.
C)   Services must include the word service in each brand name to inform customers they are not purchasing a tangible product.
D)   Brand reputation has little impact on a firm's ability to introduce new services.
E)   Unlike tangible products, services do not use subbranding.F) C) and E)
G) A) and D)

Question 7

Subbranding involves

Accepted Answer

A)   having one firm manufacture a product and a second firm distribute it all under the same name.
B)   changing a brand name of a product line extension product by making it "New and Improved!"
C)   combining a corporate brand with a new brand to distinguish a part of its product line from others.
D)   creating a knockoff version of a product and changing the spelling of the name ("chikin" nuggets) .
E)   using the same name for the original product and all subsequent product line and brand extensions.F) A) and B)
G) A) and C)

Question 8

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these is the CDI, or

Accepted Answer

A)   category development index.
B)   consumer development index.
C)   competitive development index.
D)   channel development index.
E)   customization development index.F) A) and E)
G) None of the above

Question 9

According to the diffusion of innovation concept, consumers who are venturesome, higher educated, and use multiple information sources in their adoption of products are called

Accepted Answer

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

Question 10

Brand equity is

Accepted Answer

A)   the resources invested to create a name, phrase, design, symbol, or combination of these to identify a firm's products and distinguish them from those of its competitors.
B)   the difference between the revenues generated and the costs incurred to sell a product.
C)   increasing the content contained within the brand's package without changing its size or increasing its price.
D)   the net present value of the royalties the firm receives as a result of licensing its brand to other firms to manufacture and/or market.
E)   the added value a brand name gives to a product beyond the functional benefits provided.F) B) and C)
G) D) and E)

Question 11

A product manager is sometimes called a

Accepted Answer

A)   chief marketing officer (CMO) .
B)   brand manager.
C)   marketing manager.
D)   category manager.
E)   sales manager.F) A) and E)
G) C) and E)

Question 12

When General Mills teams up with Hershey Foods to create a cereal called Reese's Peanut Butter Puffs (the Reese's brand belongs to Hershey's) , the branding strategy is known as

Accepted Answer

A)   manufacturer branding
B)   brand bundling
C)   mixed branding
D)   co-branding
E)   multibrandingF) A) and B)
G) A) and C)

Question 13

Brand equity provides a financial advantage for a brand's owner because successful, established brand names have an economic value in the sense that they are

Accepted Answer

A)   tangible assets.
B)   intangible assets.
C)   durable goods.
D)   nondurable goods.
E)   immaterial equity.F) A) and B)
G) All of the above

Question 14

Advertising and promotion costs tend to be higher with a ________ strategy because the company must generate awareness among consumers and retailers for each new brand name without the benefit of any previous impressions.

Accepted Answer

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

Question 15

Figure 10-1
-Figure 10-1 above represents the stages of the product life cycle. What does the section of the graph labeled D represent?

Accepted Answer

A)   retrenching
B)   maturity
C)   growth
D)   failure
E)   declineF) C) and D)
G) A) and B)

Question 16

The launch by Gatorade of chews, bars, powders, shakes, and yogurt is evidence of

Accepted Answer

A)   dynamic development.
B)   discontinuous development.
C)   product development.
D)   symbiotic development.
E)   simultaneous development.F) B) and D)
G) C) and D)

Question 17

In terms of its effect on faxing, email has

Accepted Answer

A)   led to a significant number of improvements in fax machine technology to keep the product class competitive.
B)   led to a significant decrease in fax machine sales because email better suits the needs of the business community.
C)   led to a significant increase in fax machine purchases due to distrust of email spam.
D)   only a moderate impact since the two technologies do not directly compete with each other.
E)   caused most fax machine manufacturers to incorporate new Internet technology to send, receive, and print email through a wireless connection to a personal computer.F) C) and D)
G) All of the above

Question 18

At what stage of the product life cycle does it first become true that most consumers who would buy a product are either repeat purchasers of the item or have tried and abandoned it?

Accepted Answer

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

Question 19

Explain the importance of branding for service marketers.

Accepted Answer

Since services are intangible, the brand...

Question 20

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these is the BDI, or

Accepted Answer

A)   business development index.
B)   brand development index.
C)   business-portfolio development index.
D)   buyers development index.
E)   benchmark development index.F) A) and C)
G) B) and C)

Exam 10: Managing Successful Products, Services, and Brands

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these is the BDI, or

Correct Answer
verified

At what stage of the product life cycle does it first become true that most consumers who would buy a product are either repeat purchasers of the item or have tried and abandoned it?

Correct Answer
verified

A product manager is sometimes called a

Correct Answer
verified

Subbranding involves

Correct Answer
verified

In terms of the diffusion of innovation, innovators account for ________ percent of product adopters.

Correct Answer
verified

In terms of its effect on faxing, email has

Correct Answer
verified

Explain the importance of branding for service marketers.

Correct Answer
verified
Since services are intangible, the brand...
View Answer

Correct Answer
verified

The launch by Gatorade of chews, bars, powders, shakes, and yogurt is evidence of

Correct Answer
verified

Figure 10-1 -Figure 10-1 above represents the stages of the product life cycle. What does the section of the graph labeled D represent?

Correct Answer
verified

Advertising and promotion costs tend to be higher with a ________ strategy because the company must generate awareness among consumers and retailers for each new brand name without the benefit of any previous impressions.

Correct Answer
verified

At which stage of the product life cycle is a company likely to have its most complete product line?

Correct Answer
verified

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these is the CDI, or

Correct Answer
verified

When General Mills teams up with Hershey Foods to create a cereal called Reese's Peanut Butter Puffs (the Reese's brand belongs to Hershey's) , the branding strategy is known as

Correct Answer
verified

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

Correct Answer
verified

Which of the following statements regarding service branding is most accurate?

Correct Answer
verified

Brand equity provides a financial advantage for a brand's owner because successful, established brand names have an economic value in the sense that they are

Correct Answer
verified

Brand equity is

Correct Answer
verified

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

Correct Answer
verified

According to the diffusion of innovation concept, consumers who are venturesome, higher educated, and use multiple information sources in their adoption of products are called

Correct Answer
verified

Exam 10: Managing Successful Products, Services, and Brands

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these is the BDI, or

Correct AnswerverifiedShow Answer

At what stage of the product life cycle does it first become true that most consumers who would buy a product are either repeat purchasers of the item or have tried and abandoned it?

Correct AnswerverifiedShow Answer

A product manager is sometimes called a

Correct AnswerverifiedShow Answer

Subbranding involves

Correct AnswerverifiedShow Answer

In terms of the diffusion of innovation, innovators account for ________ percent of product adopters.

Correct AnswerverifiedShow Answer

In terms of its effect on faxing, email has

Correct AnswerverifiedShow Answer

Explain the importance of branding for service marketers.

Correct AnswerverifiedSince services are intangible, the brand...View AnswerShow Answer

Correct AnswerverifiedShow Answer

The launch by Gatorade of chews, bars, powders, shakes, and yogurt is evidence of

Correct AnswerverifiedShow Answer

Figure 10-1 -Figure 10-1 above represents the stages of the product life cycle. What does the section of the graph labeled D represent?

Correct AnswerverifiedShow Answer

Advertising and promotion costs tend to be higher with a ________ strategy because the company must generate awareness among consumers and retailers for each new brand name without the benefit of any previous impressions.

Correct AnswerverifiedShow Answer

At which stage of the product life cycle is a company likely to have its most complete product line?

Correct AnswerverifiedShow Answer

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these is the CDI, or

Correct AnswerverifiedShow Answer

When General Mills teams up with Hershey Foods to create a cereal called Reese's Peanut Butter Puffs (the Reese's brand belongs to Hershey's) , the branding strategy is known as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements regarding service branding is most accurate?

Correct AnswerverifiedShow Answer

Brand equity provides a financial advantage for a brand's owner because successful, established brand names have an economic value in the sense that they are

Correct AnswerverifiedShow Answer

Brand equity is

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

According to the diffusion of innovation concept, consumers who are venturesome, higher educated, and use multiple information sources in their adoption of products are called

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Since services are intangible, the brand...
View 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