Question 1

Products that experience rapid sales on introduction and then an equally rapid decline are called __________ products.

Accepted Answer

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

Question 2

Which of the following is an example of a product in the growth stage of the product life cycle?

Accepted Answer

A)  e-book readers
B)  all electric cars
C)  3D HDTVs
D)  soft drinks
E)  analog TVsF) None of the above
G) A) and B)

Question 3

What federal law protects the trademarks of a firm?

Accepted Answer

A)  Sherman Act
B)  Lanham Act
C)  ISO 9000
D)  Clayton Act
E)  Robinson-Patman ActF) A) and E)
G) None of the above

Question 4

The concept of the diffusion of innovation shows how a product "diffuses" or spreads through the population over time. The consumer population is divided into five categories of product adopters based on when they adopt (i.e., first buy)  a new product. Each product adopter category has a unique profile. Consumers who are leaders in social settings and have slightly above average education are called

Accepted Answer

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

Question 5

There are several reasons a consumer would be reluctant to adopt a new product. For example, a consumer might be reluctant to adopt a new product because of a risk barrier, which occurs when

Accepted Answer

A)  there is no incentive to change.
B)  there are physical, economic, or social fears.
C)  there are cultural differences.
D)  the financial commitment is too great.
E)  the product is not consistent with existing habits.F) None of the above
G) B) and D)

Question 6

Another name for multiproduct branding is

Accepted Answer

A)  family branding.
B)  mixed branding.
C)  uniform branding.
D)  co-branding.
E)  multibranding.F) C) and E)
G) B) and D)

Question 7

Companies can choose from among several different branding strategies, which include: (1)  multiproduct branding, (2)  __________, (3)  private branding, and (4)  mixed branding.

Accepted Answer

A)  multibranding
B)  retailer branding
C)  intermediary branding
D)  brand licensing
E)  co-brandingF) All of the above
G) A) and E)

Question 8

Seiko makes watches. It markets its higher quality watches under the Seiko or LaSalle brand name and its lower-priced watches are sold under the Pulsar brand. Seiko uses a __________ strategy.

Accepted Answer

A)  multibranding
B)  product differentiation branding
C)  multiproduct branding
D)  segmentation branding
E)  private brandingF) None of the above
G) B) and C)

Question 9

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. The two indexes focus on

Accepted Answer

A)  marketing efficiency and production efficiency.
B)  dollar market share and unit market share.
C)  monthly dollar sales by channel and monthly number of units sold by channel.
D)  sales per square foot and same-store sales growth.
E)  category development and brand development.F) A) and D)
G) A) and E)

Question 10

The concept of the diffusion of innovation shows how a product "diffuses" or spreads through the population over time. The consumer population is divided into five categories of product adopters based on when they adopt (i.e., first buy)  a new product. Each product adopter category has a unique profile. Consumers who are skeptical and with below average social status are called

Accepted Answer

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

Question 11

Four key challenges that package and label designers face are: (1)  connecting with customers; (2)  environmental concerns; (3)  health, safety, and security issues; and (4)  __________.

Accepted Answer

A)  social and societal issues
B)  competition from global markets
C)  cost reduction
D)  governmental regulations
E)  diminishing color, symbol, and trademark selectionsF) A) and E)
G) C) and D)

Question 12

The entire product category or industry is referred to as

Accepted Answer

A)  product form.
B)  product class.
C)  product line.
D)  product mix.
E)  product item.F) B) and E)
G) None of the above

Question 13

What is the marketing objective for the growth stage of the product life cycle?

Accepted Answer

A)  minimize promotion
B)  increase market share
C)  stress differentiation
D)  gain awareness
E)  maintain brand loyaltyF) B) and E)
G) A) and B)

Question 14

For the Gillette Fusion razor, over 60 percent of men who tried the razor adopted the product permanently. These men are known as __________ purchasers.

Accepted Answer

A)  repeat
B)  replicate
C)  recurring
D)  recursive
E)  die-hardF) D) and E)
G) A) and D)

Question 15

Usually two curves are shown in a figure that represents the stages of the product life cycle. The two curves shown represent total industry sales revenue and total industry profit. Typically what does the higher of the two curves represent?

Accepted Answer

A)  total variable costs
B)  total fixed costs
C)  total industry profit
D)  total industry sales revenue
E)  total research and development costsF) A) and D)
G) C) and D)

Question 16

When Rose went shopping for a new purse, she thought she had found a real value-a Gucci purse for about 50 percent of what she was expecting to pay. When she looked at it more closely, she noticed that the purse was identical to a Gucci but was not manufactured by Gucci. This was most likely an example of

Accepted Answer

A)  product counterfeiting.
B)  brand licensing.
C)  co-branding.
D)  brand imitation.
E)  re-manufacturing.F) A) and D)
G) B) and C)

Question 17

The key idea behind diffusion of innovation is that

Accepted Answer

A)  not all consumers accept a new product at the same time; adoption of a product spreads slowly throughout the population.
B)  once a product enters the market, the time span between awareness and purchase is incredibly short.
C)  the introduction of an entire new product class almost always diffuses the importance of its predecessor within a matter of months.
D)  adoption of a new product line does not change the diffusion rate of older lines in the market.
E)  the rate of adoption is independent of other product form innovations or competitive products in the marketplace.F) None of the above
G) B) and D)

Question 18

To handle products in the decline stage of the product life cycle, companies often use either a __________ strategy or a __________ strategy.

Accepted Answer

A)  divesting; harvesting
B)  diversification; contraction
C)  deletion; harvesting
D)  deletion; diversification
E)  building; divestingF) B) and E)
G) B) and C)

Question 19

A risk with __________ is that too many uses for one brand name can dilute the meaning of a brand for consumers.

Accepted Answer

A)  brand extensions
B)  product line extensions
C)  co-branding
D)  private branding
E)  mixed brandingF) B) and E)
G) C) and D)

Question 20

New product brands introduced as defensive moves to counteract and confront a firm's competition are referred to as

Accepted Answer

A)  co-brands.
B)  private brands.
C)  fighting brands.
D)  brand extensions.
E)  subbrands.F) None of the above
G) A) and B)

Exam 11: Managing Successful Products Services and Brands

Correct Answer
verified

A risk with __________ is that too many uses for one brand name can dilute the meaning of a brand for consumers.

Correct Answer
verified

For the Gillette Fusion razor, over 60 percent of men who tried the razor adopted the product permanently. These men are known as __________ purchasers.

Correct Answer
verified

Another name for multiproduct branding is

Correct Answer
verified

To handle products in the decline stage of the product life cycle, companies often use either a strategy or a strategy.

Correct Answer
verified

Seiko makes watches. It markets its higher quality watches under the Seiko or LaSalle brand name and its lower-priced watches are sold under the Pulsar brand. Seiko uses a __________ strategy.

Correct Answer
verified

There are several reasons a consumer would be reluctant to adopt a new product. For example, a consumer might be reluctant to adopt a new product because of a risk barrier, which occurs when

Correct Answer
verified

Which of the following is an example of a product in the growth stage of the product life cycle?

Correct Answer
verified

Four key challenges that package and label designers face are: (1) connecting with customers; (2) environmental concerns; (3) health, safety, and security issues; and (4) __________.

Correct Answer
verified

The key idea behind diffusion of innovation is that

Correct Answer
verified

What federal law protects the trademarks of a firm?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Companies can choose from among several different branding strategies, which include: (1) multiproduct branding, (2) __________, (3) private branding, and (4) mixed branding.

Correct Answer
verified

New product brands introduced as defensive moves to counteract and confront a firm's competition are referred to as

Correct Answer
verified

Products that experience rapid sales on introduction and then an equally rapid decline are called __________ products.

Correct Answer
verified

Usually two curves are shown in a figure that represents the stages of the product life cycle. The two curves shown represent total industry sales revenue and total industry profit. Typically what does the higher of the two curves represent?

Correct Answer
verified

What is the marketing objective for the growth stage of the product life cycle?

Correct Answer
verified

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. The two indexes focus on

Correct Answer
verified

The entire product category or industry is referred to as

Correct Answer
verified

Exam 11: Managing Successful Products Services and Brands

Correct AnswerverifiedShow Answer

A risk with __________ is that too many uses for one brand name can dilute the meaning of a brand for consumers.

Correct AnswerverifiedShow Answer

For the Gillette Fusion razor, over 60 percent of men who tried the razor adopted the product permanently. These men are known as __________ purchasers.

Correct AnswerverifiedShow Answer

Another name for multiproduct branding is

Correct AnswerverifiedShow Answer

To handle products in the decline stage of the product life cycle, companies often use either a __________ strategy or a __________ strategy.

Correct AnswerverifiedShow Answer

Seiko makes watches. It markets its higher quality watches under the Seiko or LaSalle brand name and its lower-priced watches are sold under the Pulsar brand. Seiko uses a __________ strategy.

Correct AnswerverifiedShow Answer

There are several reasons a consumer would be reluctant to adopt a new product. For example, a consumer might be reluctant to adopt a new product because of a risk barrier, which occurs when

Correct AnswerverifiedShow Answer

Which of the following is an example of a product in the growth stage of the product life cycle?

Correct AnswerverifiedShow Answer

Four key challenges that package and label designers face are: (1) connecting with customers; (2) environmental concerns; (3) health, safety, and security issues; and (4) __________.

Correct AnswerverifiedShow Answer

The key idea behind diffusion of innovation is that

Correct AnswerverifiedShow Answer

What federal law protects the trademarks of a firm?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Companies can choose from among several different branding strategies, which include: (1) multiproduct branding, (2) __________, (3) private branding, and (4) mixed branding.

Correct AnswerverifiedShow Answer

New product brands introduced as defensive moves to counteract and confront a firm's competition are referred to as

Correct AnswerverifiedShow Answer

Products that experience rapid sales on introduction and then an equally rapid decline are called __________ products.

Correct AnswerverifiedShow Answer

Usually two curves are shown in a figure that represents the stages of the product life cycle. The two curves shown represent total industry sales revenue and total industry profit. Typically what does the higher of the two curves represent?

Correct AnswerverifiedShow Answer

What is the marketing objective for the growth stage of the product life cycle?

Correct AnswerverifiedShow Answer

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. The two indexes focus on

Correct AnswerverifiedShow Answer

The entire product category or industry is referred to as

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

To handle products in the decline stage of the product life cycle, companies often use either a strategy or a strategy.

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