Question 1

Products that are introduced, decline, and seem to return are characteristic of the __________ type of product life cycle.

Accepted Answer

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

Question 2

The communication aspect of packaging on a can of Campbell's soup would most likely be of the greatest benefit to

Accepted Answer

A)  people in a hurry to get to work.
B)  people on a tight budget.
C)  people with dietary restrictions.
D)  people who are brand loyal.
E)  people who love to try new things.F) B) and E)
G) A) and E)

Question 3

The four steps in the sequential process of building the brand equity pyramid are: (1)  developing positive brand awareness; (2)  __________; (3)  eliciting the proper consumer responses to a brand's identity and meaning; and (4)  creating an intense, active, and loyal consumer-brand connection.

Accepted Answer

A)  easing consumers' decision making
B)  forming a brand personality
C)  rewarding loyal customer behavior
D)  establishing a brand's meaning in the minds of consumers
E)  developing brand licensing criteriaF) A) and B)
G) A) and E)

Question 4

A strategy of harvesting may be employed in the decline stage of a product life to

Accepted Answer

A)  maintain primary demand for a product category.
B)  acquire as many new customers as possible.
C)  maintain the ability to meet ongoing customers' requests.
D)  eliminate all production costs.
E)  reposition the product.F) A) and E)
G) C) and D)

Question 5

All of the following are product modification strategies except

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 performance.F) A) and E)
G) A) and D)

Question 6

Trading down refers to __________ when repositioning a product.

Accepted Answer

A)  reducing the number of features, qualities, or price
B)  reducing the amount of product carried as inventory
C)  reducing the number of product items in a product line
D)  redirecting marketing resources from a "cash cow" target market to one that is not performing as well in the hopes of increasing sales and profits
E)  encouraging consumers through the use of coupons and deals to purchase a firm's lower-priced productsF) C) and D)
G) A) and E)

Question 7

The life cycle of a product depends on sales to

Accepted Answer

A)  consumers.
B)  distributors.
C)  intermediaries.
D)  regulators.
E)  exporters.F) None of the above
G) A) and C)

Question 8

A __________ product is a style of the times.

Accepted Answer

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

Question 9

Products such as Yoplait's Go-GURT

Accepted Answer

A)  perceptual benefits
B)  communication benefits
C)  functional benefits
D)  technology
E)  renewable resourcesF) None of the above
G) A) and E)

Question 10

Warranties, money-back guarantees, extensive usage instructions, demonstrations, and free samples are all ways in which companies attempt to overcome barriers to product adoption during the __________ stage of a product's life cycle.

Accepted Answer

A)  accelerated development
B)  maturity
C)  growth
D)  introduction
E)  declineF) B) and D)
G) A) and E)

Question 11

A product life cycle for which little customer education is required and there is a very short introductory period is an example of a __________ product.

Accepted Answer

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

Question 12

When most consumers who would buy a product are either repeat purchasers of the item or have tried and abandoned it, what stage of the product life cycle is the product in?

Accepted Answer

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

Question 13

The formula __________ is used to calculate BDI.

Accepted Answer

A)  (Percent of the total U.S. population in a market segment ÷ Percent of a brand's total U.S. sales in a market segment)  × 100
B)  (Percent of a product category's total U.S. sales in a market segment ÷ Percent of the total U.S. population in a market segment)  × 100
C)  (Percent of a brand's total U.S. sales in a market segment ÷ Percent of the total U.S. population in a market segment)  × 100
D)  (Percent of the total U.S. population in a market segment ÷ Percent of a product category's total U.S. sales in a market segment)  × 100
E)  of the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.F) A) and B)
G) A) and E)

Question 14

Express warranties

Accepted Answer

A)  provide a written statement of manufacturer liability.
B)  state the bounds of coverage and, more important, areas of noncoverage.
C)  have no limits of noncoverage.
D)  assign responsibility for product deficiencies to the manufacturer.
E)  assign responsibility for product deficiencies on misuse to the consumer.F) A) and E)
G) D) and E)

Question 15

A __________ is a brand strategy designed to counteract or confront competitors' brands.

Accepted Answer

A)  co-brand
B)  private brand
C)  fighting brand
D)  brand extension
E)  subbrandF) A) and B)
G) C) and D)

Question 16

Consider the four steps in 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,

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

Question 17

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

Question 18

All electric-powered automobiles such as the Chevy Spark are in which stage of their product life cycle?

Accepted Answer

A)  growth
B)  maturity
C)  decline
D)  accelerated development
E)  introductionF) None of the above
G) C) and D)

Question 19

A concept that describes the stages a product goes through in the marketplace-introduction, growth, maturity, and decline-is referred to as the

Accepted Answer

A)  retail life cycle.
B)  product life cycle.
C)  marketing mix.
D)  product growth cycle.
E)  diffusion of product innovation.F) B) and D)
G) A) and B)

Question 20

Twenty years ago, the Mississippi Gulf Coast was a nice place to vacation with a white sandy beach, golfing opportunities, resort hotels, and good seafood restaurants. With the addition of casinos, the Gulf Coast improved its odds of being a tourist destination for more travelers. This is an example of a __________ strategy.

Accepted Answer

A)  market-product grid
B)  diversification
C)  product modification
D)  market modification
E)  product repositioningF) B) and D)
G) None of the above

Exam 11: Managing Successful Products Services and Brands

Consider the four steps in 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,

Correct Answer
verified

A __________ is a brand strategy designed to counteract or confront competitors' brands.

Correct Answer
verified

The life cycle of a product depends on sales to

Correct Answer
verified

The formula __________ is used to calculate BDI.

Correct Answer
verified

Products that are introduced, decline, and seem to return are characteristic of the __________ type of product life cycle.

Correct Answer
verified

Trading down refers to __________ when repositioning a product.

Correct Answer
verified

Warranties, money-back guarantees, extensive usage instructions, demonstrations, and free samples are all ways in which companies attempt to overcome barriers to product adoption during the __________ stage of a product's life cycle.

Correct Answer
verified

All electric-powered automobiles such as the Chevy Spark are in which stage of their product life cycle?

Correct Answer
verified

A concept that describes the stages a product goes through in the marketplace-introduction, growth, maturity, and decline-is referred to as the

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Products such as Yoplait's Go-GURT

Correct Answer
verified

All of the following are product modification strategies except

Correct Answer
verified

A product life cycle for which little customer education is required and there is a very short introductory period is an example of a __________ product.

Correct Answer
verified

A __________ product is a style of the times.

Correct Answer
verified

When most consumers who would buy a product are either repeat purchasers of the item or have tried and abandoned it, what stage of the product life cycle is the product in?

Correct Answer
verified

A strategy of harvesting may be employed in the decline stage of a product life to

Correct Answer
verified

Express warranties

Correct Answer
verified

The communication aspect of packaging on a can of Campbell's soup would most likely be of the greatest benefit to

Correct Answer
verified

The four steps in the sequential process of building the brand equity pyramid are: (1) developing positive brand awareness; (2) __________; (3) eliciting the proper consumer responses to a brand's identity and meaning; and (4) creating an intense, active, and loyal consumer-brand connection.

Correct Answer
verified

Exam 11: Managing Successful Products Services and Brands

Consider the four steps in 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,

Correct AnswerverifiedShow Answer

A __________ is a brand strategy designed to counteract or confront competitors' brands.

Correct AnswerverifiedShow Answer

The life cycle of a product depends on sales to

Correct AnswerverifiedShow Answer

The formula __________ is used to calculate BDI.

Correct AnswerverifiedShow Answer

Products that are introduced, decline, and seem to return are characteristic of the __________ type of product life cycle.

Correct AnswerverifiedShow Answer

Trading down refers to __________ when repositioning a product.

Correct AnswerverifiedShow Answer

Warranties, money-back guarantees, extensive usage instructions, demonstrations, and free samples are all ways in which companies attempt to overcome barriers to product adoption during the __________ stage of a product's life cycle.

Correct AnswerverifiedShow Answer

All electric-powered automobiles such as the Chevy Spark are in which stage of their product life cycle?

Correct AnswerverifiedShow Answer

A concept that describes the stages a product goes through in the marketplace-introduction, growth, maturity, and decline-is referred to as the

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Products such as Yoplait's Go-GURT

Correct AnswerverifiedShow Answer

All of the following are product modification strategies except

Correct AnswerverifiedShow Answer

A product life cycle for which little customer education is required and there is a very short introductory period is an example of a __________ product.

Correct AnswerverifiedShow Answer

A __________ product is a style of the times.

Correct AnswerverifiedShow Answer

When most consumers who would buy a product are either repeat purchasers of the item or have tried and abandoned it, what stage of the product life cycle is the product in?

Correct AnswerverifiedShow Answer

A strategy of harvesting may be employed in the decline stage of a product life to

Correct AnswerverifiedShow Answer

Express warranties

Correct AnswerverifiedShow Answer

The communication aspect of packaging on a can of Campbell's soup would most likely be of the greatest benefit to

Correct AnswerverifiedShow Answer

The four steps in the sequential process of building the brand equity pyramid are: (1) developing positive brand awareness; (2) __________; (3) eliciting the proper consumer responses to a brand's identity and meaning; and (4) creating an intense, active, and loyal consumer-brand connection.

Correct AnswerverifiedShow Answer

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