Question 1

Figure 11-5
 
-Under the concept of the diffusion of innovation,consumers who have a fear of debt and depend on neighbors and friends as their information sources are called

Accepted Answer

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

Question 2

During the introduction stage of the product life cycle,the place (distribution) element of the marketing mix is highly involved with

Accepted Answer

A)  increasing inventory levels at warehouses and distribution centers to meet potential demand.
B)  gaining as many retail distribution outlets as possible,even though many will be reluctant to carry the new product.
C)  using an intermodal logistics system to get the products through the marketing channel as quickly as possible.
D)  building storage warehouses and distribution centers to establish an efficient infrastructure for the new product.
E)  obtaining contracts with independent sales agents and brokers instead of using the firm's salesforce.F) B) and C)
G) A) and E)

Question 3

Warranties that specifically state the bounds of coverage and,more important,areas of noncoverage are referred to as ________ warranties.

Accepted Answer

A)  express
B)  functional
C)  explicit
D)  limited-coverage
E)  impliedF) B) and E)
G) A) and D)

Question 4

All of the following are product modification strategies except which?

Accepted Answer

A)  product bundling
B)  improving a product's quality
C)  changing a product's appearance
D)  creating a new use situation
E)  altering a product's performanceF) B) and C)
G) A) and D)

Question 5

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) A) and B)
G) C) and E)

Question 6

Secret deodorant maintains its leadership position as one of many products in what is typically considered a ________ product category.

Accepted Answer

A)  fad
B)  low-learning
C)  fashion
D)  high-learning
E)  specialtyF) C) and E)
G) A) and E)

Question 7

Figure 11-5
 
-In terms of the diffusion of innovation,early majority accounts for ________ percent of product adopters.

Accepted Answer

A)  2) 5
B)  13.5
C)  16
D)  34
E)  50F) B) and C)
G) None of the above

Question 8

Figure 11-6
-Figure 11-6 above shows the sequential process of building brand equity.The third step is to elicit the proper consumer responses to a brand's identity and meaning.This step consists of two dimensions,D and E,which represent

Accepted Answer

A)  brand identity and brand emotion.
B)  brand performance and brand imagery.
C)  consumer judgments and consumer feelings.
D)  brand awareness and consumer-brand connection.
E)  consumer feelings and brand imagery.F) C) and D)
G) A) and D)

Question 9

Figure 11-5
 
-When Apple introduced the Apple II personal computer in 1977,industry analysts predicted that very few would be sold.However,a short time after the product was made available,consumers who were young,highly educated,adventuresome,and well-informed began buying them.While those buyers were relatively few in number,marketers such as IBM and Compaq were encouraged because other,less adventuresome consumers,like businesspeople,would likely adopt personal computers later.Based on the diffusion of innovation concept,those first buyers of personal computers were

Accepted Answer

A)  early adopters.
B)  early majority.
C)  innovators.
D)  product leaders.
E)  diffusion leaders.F) A) and D)
G) C) and D)

Question 10

Figure 11-5
 
-The consumers represented by Segment D in Figure 11-5 above are called

Accepted Answer

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

Question 11

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 E)
G) A) and D)

Question 12

Figure 11-5
 
-The consumers represented by Segment B in Figure 11-5 above are called

Accepted Answer

A)  early adopters.
B)  late majority.
C)  laggards.
D)  early majority.
E)  innovators.F) None of the above
G) A) and C)

Question 13

All of the following are true about a skimming pricing strategy when used during the introduction stage of the product life cycle except which?

Accepted Answer

A)  It capitalizes on the price insensitivity of early buyers.
B)  It typically results in high profit margins.
C)  It encourages competitive entrants into the market.
D)  It recovers the R&D costs of the new offering.
E)  It helps build unit volume.F) None of the above
G) A) and B)

Question 14

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 15

Interactive television with video-on-demand capabilities changes how people watch television and how consumers access the Internet.This technology requires significant customer education for most people.What type of product life cycle curve would be associated with this product?

Accepted Answer

A)  generalized
B)  high-learning
C)  low-learning
D)  fashion
E)  fadF) A) and B)
G) D) and E)

Question 16

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) C) and D)
G) None of the above

Question 17

Brand equity refers to

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 D)
G) A) and E)

Question 18

The launch by Gatorade of Gatorade 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 C)
G) A) and E)

Question 19

Packaging

Accepted Answer

A)  is any box,bottle,jar,can,carton,or bag that can be used for transporting services.
B)  is any container in which a product is offered for sale and on which label information is communicated.
C)  is that part of a product that is not recycled.
D)  identifies the product or brand,who made it,where and when it was made,how it is to be used,and the contents and ingredients.
E)  is any container used in the preservation of ideas.F) A) and E)
G) A) and B)

Question 20

Explain the following statement: "Packaging provides communication,functional,and perceptual benefits for manufacturers,retailers,and consumers."

Accepted Answer

Packages provide important benefits for ...

Exam 11: Managing Successful Products, services, and Brands

Brand equity refers to

Correct Answer
verified

Figure 11-5 -The consumers represented by Segment D in Figure 11-5 above are called

Correct Answer
verified

Packaging

Correct Answer
verified

During the introduction stage of the product life cycle,the place (distribution) element of the marketing mix is highly involved with

Correct Answer
verified

Explain the following statement: "Packaging provides communication,functional,and perceptual benefits for manufacturers,retailers,and consumers."

Correct Answer
verified
Packages provide important benefits for ...
View Answer

Secret deodorant maintains its leadership position as one of many products in what is typically considered a ________ product category.

Correct Answer
verified

Figure 11-5 -In terms of the diffusion of innovation,early majority accounts for ________ percent of product adopters.

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

Warranties that specifically state the bounds of coverage and,more important,areas of noncoverage are referred to as ________ warranties.

Correct Answer
verified

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 Answer
verified

Figure 11-5 -Under the concept of the diffusion of innovation,consumers who have a fear of debt and depend on neighbors and friends as their information sources are called

Correct Answer
verified

Figure 11-6 -Figure 11-6 above shows the sequential process of building brand equity.The third step is to elicit the proper consumer responses to a brand's identity and meaning.This step consists of two dimensions,D and E,which represent

Correct Answer
verified

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

Correct Answer
verified

All of the following are product modification strategies except which?

Correct Answer
verified

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

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

Interactive television with video-on-demand capabilities changes how people watch television and how consumers access the Internet.This technology requires significant customer education for most people.What type of product life cycle curve would be associated with this product?

Correct Answer
verified

Figure 11-5 -The consumers represented by Segment B in Figure 11-5 above are called

Correct Answer
verified

All of the following are true about a skimming pricing strategy when used during the introduction stage of the product life cycle except which?

Correct Answer
verified

Exam 11: Managing Successful Products, services, and Brands

Brand equity refers to

Correct AnswerverifiedShow Answer

Figure 11-5 -The consumers represented by Segment D in Figure 11-5 above are called

Correct AnswerverifiedShow Answer

Packaging

Correct AnswerverifiedShow Answer

During the introduction stage of the product life cycle,the place (distribution) element of the marketing mix is highly involved with

Correct AnswerverifiedShow Answer

Explain the following statement: "Packaging provides communication,functional,and perceptual benefits for manufacturers,retailers,and consumers."

Correct AnswerverifiedPackages provide important benefits for ...View AnswerShow Answer

Secret deodorant maintains its leadership position as one of many products in what is typically considered a ________ product category.

Correct AnswerverifiedShow Answer

Figure 11-5 -In terms of the diffusion of innovation,early majority accounts for ________ percent of product adopters.

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

Warranties that specifically state the bounds of coverage and,more important,areas of noncoverage are referred to as ________ warranties.

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

Figure 11-5 -Under the concept of the diffusion of innovation,consumers who have a fear of debt and depend on neighbors and friends as their information sources are called

Correct AnswerverifiedShow Answer

Figure 11-6 -Figure 11-6 above shows the sequential process of building brand equity.The third step is to elicit the proper consumer responses to a brand's identity and meaning.This step consists of two dimensions,D and E,which represent

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

All of the following are product modification strategies except which?

Correct AnswerverifiedShow Answer

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

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

Interactive television with video-on-demand capabilities changes how people watch television and how consumers access the Internet.This technology requires significant customer education for most people.What type of product life cycle curve would be associated with this product?

Correct AnswerverifiedShow Answer

Figure 11-5 -The consumers represented by Segment B in Figure 11-5 above are called

Correct AnswerverifiedShow Answer

All of the following are true about a skimming pricing strategy when used during the introduction stage of the product life cycle except which?

Correct AnswerverifiedShow Answer

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Packages provide important benefits for ...
View Answer

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Correct Answer
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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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