Question 1

Compare the three ways to manage a product through its product life cycle.

Accepted Answer

The three ways a product or brand manage...

Question 2

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

Accepted Answer

Packages provide important benefits for ...

Question 3

When the Floral Council, a trade association of flower shop retailers, advertises that giving flowers is a thoughtful and appreciated gift for any occasion, it is trying to stimulate __________ demand.

Accepted Answer

A)  selective
B)  primary
C)  derived
D)  generic
E)  secondaryF) A) and B)
G) C) and E)

Question 4

Private branding refers to a branding strategy in which a firm

Accepted Answer

A)  gives each product a distinct name when each brand is intended for a different market segment.
B)  uses different brand names for the same product across multiple countries.
C)  uses one name for all its products in a product class.
D)  produces products but sells them under the brand name of a wholesaler or retailer.
E)  contractually, and for a fee, allows other firms to use its brand name, requiring that the product be made to its specifications.F) A) and B)
G) C) and D)

Question 5

Industry analysts estimate that the number of e-mail mailboxes worldwide will grow to __________ by 2018.

Accepted Answer

A)  2.1 billion
B)  2.5 billion
C)  3.1 billion
D)  3.5 billion
E)  5.2 billionF) A) and B)
G) A) and C)

Question 6

Mattel has a contractual agreement to let Colgate use the Barbie name and image on kids' toothpaste and toothbrushes. Colgate pays Mattel a fee for the use of the Barbie name and image. This is an example of

Accepted Answer

A)  brand licensing.
B)  co-branding.
C)  generic branding.
D)  reseller licensing.
E)  mixed branding.F) D) and E)
G) C) and D)

Question 7

In terms of its effect on faxing, e-mail 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 e-mail better suits the needs of the business community.
C)  led to a significant increase in fax machine purchases due to distrust of e-mail spam.
D)  a minimal 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 e-mails through a wireless connection to a personal computer.F) B) and E)
G) All of the above

Question 8

Georgia-Pacific reduced the content of its Brawny paper towel six-roll pack by 20 percent without lowering the price. Georgia-Pacific used __________ strategy.

Accepted Answer

A)  an outsourcing
B)  a trading up
C)  a shrinkage
D)  a downsizing
E)  a product modificationF) A) and D)
G) B) and E)

Question 9

Any word, device (design, sound, shape, or color) , or combination of these used to distinguish a seller's products or services is referred to as a

Accepted Answer

A)  brand name.
B)  copyright.
C)  trade name.
D)  trademark.
E)  label.F) A) and C)
G) None of the above

Question 10

Warranties that have no limits of noncoverage are called __________ warranties.

Accepted Answer

A)  guaranteed
B)  full
C)  implied
D)  coverage
E)  expressF) A) and B)
G) B) and D)

Question 11

Free samples are one of the most popular means to gain consumer trial. In fact, most consumers consider a sample to

Accepted Answer

A)  simulate laggard usage of the product.
B)  be the best way to evaluate a new product.
C)  be faster than purchasing a product.
D)  be safer than purchasing a product.
E)  circumvent the typical adoption cycle.F) A) and D)
G) B) and C)

Question 12

Johnson & Johnson effectively repositioned St. Joseph Aspirin as a product for infants to an adult low-strength aspirin to reduce the risk of heart attacks or strokes. This is an example of a product repositioning by

Accepted Answer

A)  reacting to a competitor's position.
B)  reaching a new market.
C)  catching a rising trend.
D)  changing the value offered.
E)  product modification.F) A) and B)
G) C) and D)

Question 13

In terms of new product purchases, early adopters

Accepted Answer

A)  have a fear of debt and use neighbors and friends as information sources.
B)  are skeptical and have below average social status.
C)  are deliberate and use many informal social contacts.
D)  are leaders in social settings and have a slightly above average education.
E)  are venturesome, highly educated, and use multiple information sources.F) A) and D)
G) B) and E)

Question 14

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 D)

Question 15

The challenges of packaging and labeling are often global. One particular challenge facing global manufacturers involves

Accepted Answer

A)  creating larger size packages to be sold at warehouse stores.
B)  creating packaging sensitive to educational diversity.
C)  addressing ongoing environmental concerns.
D)  ensuring ISO 19000 total quality management within national boundaries.
E)  making packaging an irrelevant part of a firm's marketing strategy.F) A) and B)
G) All of the above

Question 16

A trade name refers to

Accepted Answer

A)  any word, device (design, sound, shape or color) , or combination of these used to distinguish a seller's products or services.
B)  the part of a brand name that can be spoken.
C)  the legally registered brand name of a firm's product or service that give it exclusive use, thereby preventing competitors from using it.
D)  the commercial, legal name under which a company does business.
E)  a logotype plus the brand name.F) C) and E)
G) A) and E)

Question 17

A branding strategy in which a company uses one name for all its products in a product class is referred to as

Accepted Answer

A)  global branding.
B)  public branding.
C)  multibranding.
D)  brand licensing.
E)  multiproduct branding.F) A) and B)
G) All of the above

Question 18

The strategy of trading down involves

Accepted Answer

A)  adding product features but using lower quality product materials.
B)  reducing product features but using higher quality product materials or ingredients.
C)  reducing the number of features, quality, or price of a product.
D)  seeking a less price-sensitive target market.
E)  changing to a mass merchandiser retailer such as Walmart or Target.F) B) and C)
G) C) and D)

Question 19

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 (chicken to "chikin" as is the case with Chick-Fil-
A)  .
E)  using the same name for the original product and all subsequent product line and brand extensions.F) A) and B)
G) C) and D)

Question 20

Product life cycle refers to

Accepted Answer

A)  the average life span of a product.
B)  a concept that describes the stages a new product goes through from product concept to commercialization.
C)  a concept that describes the stages a product goes through in the marketplace-early growth, accelerated development, maturity, and decline.
D)  a concept that describes the stages a product goes through in the marketplace-introduction, growth, maturity, and decline.
E)  the amount of time it takes a product innovation to completely diffuse in the marketplace.F) B) and E)
G) C) and D)

Exam 11: Managing Successful Products Services and Brands

Warranties that have no limits of noncoverage are called __________ warranties.

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

Subbranding involves

Correct AnswerverifiedShow Answer

The strategy of trading down involves

Correct AnswerverifiedShow Answer

When the Floral Council, a trade association of flower shop retailers, advertises that giving flowers is a thoughtful and appreciated gift for any occasion, it is trying to stimulate __________ demand.

Correct AnswerverifiedShow Answer

Private branding refers to a branding strategy in which a firm

Correct AnswerverifiedShow Answer

A trade name refers to

Correct AnswerverifiedShow Answer

Mattel has a contractual agreement to let Colgate use the Barbie name and image on kids' toothpaste and toothbrushes. Colgate pays Mattel a fee for the use of the Barbie name and image. This is an example of

Correct AnswerverifiedShow Answer

Product life cycle refers to

Correct AnswerverifiedShow Answer

In terms of new product purchases, early adopters

Correct AnswerverifiedShow Answer

Brand equity refers to

Correct AnswerverifiedShow Answer

Georgia-Pacific reduced the content of its Brawny paper towel six-roll pack by 20 percent without lowering the price. Georgia-Pacific used __________ strategy.

Correct AnswerverifiedShow Answer

Industry analysts estimate that the number of e-mail mailboxes worldwide will grow to __________ by 2018.

Correct AnswerverifiedShow Answer

The challenges of packaging and labeling are often global. One particular challenge facing global manufacturers involves

Correct AnswerverifiedShow Answer

In terms of its effect on faxing, e-mail has

Correct AnswerverifiedShow Answer

A branding strategy in which a company uses one name for all its products in a product class is referred to as

Correct AnswerverifiedShow Answer

Compare the three ways to manage a product through its product life cycle.

Correct AnswerverifiedThe three ways a product or brand manage...View AnswerShow Answer

Johnson & Johnson effectively repositioned St. Joseph Aspirin as a product for infants to an adult low-strength aspirin to reduce the risk of heart attacks or strokes. This is an example of a product repositioning by

Correct AnswerverifiedShow Answer

Free samples are one of the most popular means to gain consumer trial. In fact, most consumers consider a sample to

Correct AnswerverifiedShow Answer

Any word, device (design, sound, shape, or color) , or combination of these used to distinguish a seller's products or services is referred to as a

Correct AnswerverifiedShow Answer

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Packages provide important benefits for ...
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The three ways a product or brand manage...
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