Question 1

What is the name for products that have no brand name or identifying features?

Accepted Answer

A)   no name brand
B)   store brand
C)   generic brand
D)   individual brand
E)   private label brandF) A) and D)
G) A) and E)

Question 2

Explain why branding can be a win-win strategy for both consumers and marketers.

Accepted Answer

Consumer advantages:
- Brands connote qu...

Question 3

Major automotive manufacturers use an individual brand strategy in their marketing efforts.

Accepted Answer

A) True 
 B)False

Question 4

What is the best definition of a product in the "total product concept"?

Accepted Answer

A)   tangible goods that can be purchased to satisfy a consumer need
B)   the total sum of a firm's manufacturing capability
C)   all elements of the marketing mix
D)   a bundle of tangible and intangible benefits that a buyer receives in exchange for money or other considerations
E)   a physical item with related features that provides utility to the buyerF) B) and D)
G) B) and C)

Question 5

Multi-branding is when a company uses different brand names for each item in a product category.

Accepted Answer

A) True 
 B)False

Question 6

Lever Brothers sells bar soap under the following brands: Dove, Lifebuoy, Caress, and Lux. This is an example of

Accepted Answer

A)   a multibrand strategy.
B)   a family brand strategy.
C)   a propriety brand strategy.
D)   a licensed brand strategy.
E)   a co-branding strategy.F) B) and D)
G) All of the above

Question 7

Processed materials are used in the production of another product but are not readily identified with the product.

Accepted Answer

A) True 
 B)False

Question 8

The number of items in a company's product line is

Accepted Answer

A)   its positioning.
B)   the total product concept.
C)   the unique selling point.
D)   the product line depth.
E)   the product line width.F) A) and C)
G) A) and B)

Question 9

Give an example of co-branding and explain the role it plays.

Accepted Answer

A good example of co-branding is New Belgium Brewing and Ben & Jerry's co-branding that resulted in ice cream inspired beers like Chocolate Chip Cookie Dough Ale. Both companies are registered Beneficial or "B Corporations" and are committed to benefitting society and their shareholders. This agreement is an opportunity to shape the ways that customers feel about both brands and draw attention to important environmental issues. The important consideration here is "fit," as these two brands complement each other.

Question 10

Expensive industrial goods that have a long life span are

Accepted Answer

A)   supplies.
B)   services.
C)   component parts.
D)   parts and materials.
E)   capital items.F) B) and E)
G) B) and D) E

Question 11

Describe the McDonald's product mix and explain how this mix meets the needs of the various target markets served by this fast-food restaurant.

Accepted Answer

A product mix is the total range of products offered for sale by a company. Each appeals to a particular segment and, collectively, the mix differentiates the company from its competition. McDonald's appeals to many segments and offers products to meet many diversified needs. Happy Meals are directed to children with smaller portions and the addition of a toy with each purchase. Free coffee refills for in-restaurant dining caters to seniors that meet at McDonald's in the mornings for social reasons. The introduction of healthier choices, salads, deli sandwiches, and so on are targeted to the more health-conscious parents. You could divide the mix by the various kinds of meals and snacks.

Question 12

To protect a manufacturing process or product design from being copied by competitors, a new manufacturer of skateboards should apply for

Accepted Answer

A)   brandmark designation.
B)   product protection.
C)   trademark registration.
D)   copyright protection.
E)   patent protection.F) A) and D)
G) A) and B)

Question 13

New Belgium Brewing's launch of a Ben & Jerry's caramel beer is an example of co-branding.

Accepted Answer

A) True 
 B)False

Question 14

Andrew spends two hours in Canadian Tire looking for seat covers for his truck. He checks carefully to compare price, suitability to the model, quality, and style before he makes his purchase decision. For Andrew, the seat covers are a(n)  ________ good.

Accepted Answer

A)   unsought
B)   durability
C)   shopping
D)   staple
E)   convenienceF) D) and E)
G) A) and D)

Question 15

During the brand design process, the following stage occurs when the creative idea becomes reality.

Accepted Answer

A)   imagination
B)   innovation
C)   operationalization
D)   creativity
E)   implementationF) All of the above
G) A) and D)

Question 16

Given its growth and popularity, Red Bull is said to have brand equity. Assume you are a marketing manager for Red Bull. How would you measure the brand's equity?

Accepted Answer

Brand equity is defined as the value a c...

Question 17

Installations are

Accepted Answer

A)   capital items used directly in the production of another product.
B)   seldom a decision of top managers.
C)   an artistic display in a retail venue.
D)   first-time capital purchases.
E)   always custom made.F) A) and B)
G) A) and C)

Question 18

Using automobile production as an example, explain the following types of industrial goods: installations, accessory equipment, and component parts.

Accepted Answer

- Installations: major capital items use...

Question 19

The brand name "Lean Cuisine"is effective because it is meaningful. It effectively communicates the brand's

Accepted Answer

A)   UPC.
B)   USP.
C)   durability.
D)   private label.
E)   insistence.F) C) and D)
G) A) and B)

Question 20

Explain how the Heinz Ketchup bottle fulfills all of the functions of a package.

Accepted Answer

A package has four basic functions: it m...

Exam 8: Product Strategy

What is the name for products that have no brand name or identifying features?

Correct Answer
verified

Explain why branding can be a win-win strategy for both consumers and marketers.

Correct Answer
verified
Consumer advantages:
- Brands connote qu...
View Answer

Major automotive manufacturers use an individual brand strategy in their marketing efforts.

Correct Answer
verified

What is the best definition of a product in the "total product concept"?

Correct Answer
verified

Multi-branding is when a company uses different brand names for each item in a product category.

Correct Answer
verified

Lever Brothers sells bar soap under the following brands: Dove, Lifebuoy, Caress, and Lux. This is an example of

Correct Answer
verified

Processed materials are used in the production of another product but are not readily identified with the product.

Correct Answer
verified

The number of items in a company's product line is

Correct Answer
verified

Give an example of co-branding and explain the role it plays.

Expensive industrial goods that have a long life span are

Correct Answer
verified
E

Describe the McDonald's product mix and explain how this mix meets the needs of the various target markets served by this fast-food restaurant.

To protect a manufacturing process or product design from being copied by competitors, a new manufacturer of skateboards should apply for

Correct Answer
verified

New Belgium Brewing's launch of a Ben & Jerry's caramel beer is an example of co-branding.

Correct Answer
verified

Andrew spends two hours in Canadian Tire looking for seat covers for his truck. He checks carefully to compare price, suitability to the model, quality, and style before he makes his purchase decision. For Andrew, the seat covers are a(n) ________ good.

Correct Answer
verified

During the brand design process, the following stage occurs when the creative idea becomes reality.

Correct Answer
verified

Given its growth and popularity, Red Bull is said to have brand equity. Assume you are a marketing manager for Red Bull. How would you measure the brand's equity?

Correct Answer
verified
Brand equity is defined as the value a c...
View Answer

Installations are

Correct Answer
verified

Using automobile production as an example, explain the following types of industrial goods: installations, accessory equipment, and component parts.

Correct Answer
verified
- Installations: major capital items use...
View Answer

The brand name "Lean Cuisine"is effective because it is meaningful. It effectively communicates the brand's

Correct Answer
verified

Explain how the Heinz Ketchup bottle fulfills all of the functions of a package.

Correct Answer
verified
A package has four basic functions: it m...
View Answer

Exam 8: Product Strategy

What is the name for products that have no brand name or identifying features?

Correct AnswerverifiedShow Answer

Explain why branding can be a win-win strategy for both consumers and marketers.

Correct AnswerverifiedConsumer advantages:- Brands connote qu...View AnswerShow Answer

Major automotive manufacturers use an individual brand strategy in their marketing efforts.

Correct AnswerverifiedShow Answer

What is the best definition of a product in the "total product concept"?

Correct AnswerverifiedShow Answer

Multi-branding is when a company uses different brand names for each item in a product category.

Correct AnswerverifiedShow Answer

Lever Brothers sells bar soap under the following brands: Dove, Lifebuoy, Caress, and Lux. This is an example of

Correct AnswerverifiedShow Answer

Processed materials are used in the production of another product but are not readily identified with the product.

Correct AnswerverifiedShow Answer

The number of items in a company's product line is

Correct AnswerverifiedShow Answer

Give an example of co-branding and explain the role it plays.

Expensive industrial goods that have a long life span are

Correct AnswerverifiedE

Describe the McDonald's product mix and explain how this mix meets the needs of the various target markets served by this fast-food restaurant.

To protect a manufacturing process or product design from being copied by competitors, a new manufacturer of skateboards should apply for

Correct AnswerverifiedShow Answer

New Belgium Brewing's launch of a Ben & Jerry's caramel beer is an example of co-branding.

Correct AnswerverifiedShow Answer

Andrew spends two hours in Canadian Tire looking for seat covers for his truck. He checks carefully to compare price, suitability to the model, quality, and style before he makes his purchase decision. For Andrew, the seat covers are a(n) ________ good.

Correct AnswerverifiedShow Answer

During the brand design process, the following stage occurs when the creative idea becomes reality.

Correct AnswerverifiedShow Answer

Given its growth and popularity, Red Bull is said to have brand equity. Assume you are a marketing manager for Red Bull. How would you measure the brand's equity?

Correct AnswerverifiedBrand equity is defined as the value a c...View AnswerShow Answer

Installations are

Correct AnswerverifiedShow Answer

Using automobile production as an example, explain the following types of industrial goods: installations, accessory equipment, and component parts.

Correct Answerverified- Installations: major capital items use...View AnswerShow Answer

The brand name "Lean Cuisine"is effective because it is meaningful. It effectively communicates the brand's

Correct AnswerverifiedShow Answer

Explain how the Heinz Ketchup bottle fulfills all of the functions of a package.

Correct AnswerverifiedA package has four basic functions: it m...View AnswerShow Answer

Correct Answer
verified

Correct Answer
verified
Consumer advantages:
- Brands connote qu...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
E

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Brand equity is defined as the value a c...
View Answer

Correct Answer
verified

Correct Answer
verified
- Installations: major capital items use...
View Answer

Correct Answer
verified

Correct Answer
verified
A package has four basic functions: it m...
View Answer