Question 1

Changes in the product characteristically take place in the __________ stage of the product life cycle.

Accepted Answer

A)   introduction
B)   maturity
C)   decline
D)   acceleration
E)   growthF) A) and B)
G) A) and C)

Question 2

Warranties,money-back guarantees,extensive usage instructions,demonstrations,and free samples are all ways in which companies

Accepted Answer

A)   lose money during the introductory stage of a product's life cycle.
B)   convince laggards to try a new product.
C)   recoup research and development costs.
D)   influence the product life cycle of fashion products.
E)   attempt to overcome barriers to adoption.F) A) and E)
G) A) and C)

Question 3

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

Accepted Answer

A)   begin deletion
B)   implement skimming
C)   stress differentiation
D)   gain awareness
E)   maintain brand loyaltyF) C) and D)
G) B) and D)

Question 4

The 3M Co.is a master of the __________ pricing strategy.According to a 3M manager,"We hit fast,price high,and get the heck out when the me-too products pour in."

Accepted Answer

A)   penetration
B)   cost-plus
C)   ROI
D)   market-oriented
E)   skimmingF) B) and D)
G) C) and E)

Question 5

What role does price play in the managing of services?

Accepted Answer

Pricing plays two roles in managing serv...

Question 6

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 C)
G) None of the above

Question 7

How long is a product life cycle?
 What determines its length?

Accepted Answer

There is no set time that a product take...

Question 8

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 profit margins that are high.
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) B) and C)

Question 9

For consumers,the primary benefit of branding is that

Accepted Answer

A)   products tend to be higher in quality.
B)   it helps consumers become more efficient shoppers.
C)   branded items are more readily available in retail outlets.
D)   branded items are usually more expensive because of the cost to register them with the Federal Trade Commission (FT
C)  .
E)   they are often rewarded with buyer loyalty incentives.F) A) and E)
G) B) and E)

Question 10

Multibranding refers to a branding strategy in which a firm

Accepted Answer

A)   gives each product a distinct name as a method to appeal to various target markets.
B)   uses different brand names for the same product across multiple countries.
C)   uses one name for all its products in a product class, though each is intended for a different market segment.
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) B) and D)
G) B) and E)

Question 11

Gatorade successfully used a __________ strategy when it introduced a group of lower calorie options called Gatorade G2.

Accepted Answer

A)   subbranding
B)   multibranding
C)   mixed branding
D)   generic branding
E)   family brandingF) A) and E)
G) A) and D)

Question 12

Even though Liquid Paper correction fluid is in the __________ stage of its product life cycle,Sanford,its manufacturer,has not deleted it from its line because there is still a residual core of consumers who use the product.

Accepted Answer

A)   decline
B)   introduction
C)   growth
D)   maturity
E)   deletionF) A) and D)
G) None of the above

Question 13

All of the following are true about the length of product life cycles except which?

Accepted Answer

A)   The length of service life cycles is typically longer than those for tangible products.
B)   There is no set time that a product takes to move through its life cycle.
C)   Technological change shortens product life cycles as new products replace existing ones.
D)   The use of mass media tends to shorten product life cycles.
E)   Consumer products have shorter life cycles than business products.F) B) and E)
G) C) and D)

Question 14

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

Question 15

Most services have a limited capacity due to the __________ of the service from the service provider and the perishable nature of the service.

Accepted Answer

A)   inventory
B)   inconsistency
C)   intangibility
D)   incompatibility
E)   inseparabilityF) All of the above
G) B) and D)

Question 16

Figure 10-3 
-The product life cycle shown in C in Figure 10-3 is an example of a __________ product.

Accepted Answer

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

Question 17

A good brand name has several characteristics,including that it should

Accepted Answer

A)   never have a humorous connotation.
B)   fit the company or product image.
C)   not be easily imitated.
D)   be patented.
E)   easy to spell and pronounce.F) B) and C)
G) A) and B)

Question 18

An expanded marketing mix for services that includes the four Ps (product,price,promotion,and place or distribution) as well as people,physical environment,and process,is referred to as the

Accepted Answer

A)   seven Ps of services marketing.
B)   service matrix.
C)   service continuum.
D)   service encounters.
E)   service mix.F) B) and C)
G) A) and E)

Question 19

A __________ product is one for which significant customer education is required and there is an extended introductory period.

Accepted Answer

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

Question 20

Many nonprofit organizations use PSAs in their media planning.What does the acronym PSA stand for?

Accepted Answer

A)   public stakeholder agreement
B)   promotional service amendment
C)   public sustainability amendment
D)   promotional setting announcement
E)   public service announcementF) A) and B)
G) None of the above

Exam 10: Managing Successful Products, services, and Brands

Multibranding refers to a branding strategy in which a firm

Correct Answer
verified

Most services have a limited capacity due to the __________ of the service from the service provider and the perishable nature of the service.

Correct Answer
verified

Many nonprofit organizations use PSAs in their media planning.What does the acronym PSA stand for?

Correct Answer
verified

What role does price play in the managing of services?

Correct Answer
verified
Pricing plays two roles in managing serv...
View Answer

For consumers,the primary benefit of branding is that

Correct Answer
verified

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

Correct Answer
verified

What federal law protects the trademarks of a firm?

Correct Answer
verified

A __________ product is one for which significant customer education is required and there is an extended introductory period.

Correct Answer
verified

Gatorade successfully used a __________ strategy when it introduced a group of lower calorie options called Gatorade G2.

Correct Answer
verified

Correct Answer
verified

The 3M Co.is a master of the __________ pricing strategy.According to a 3M manager,"We hit fast,price high,and get the heck out when the me-too products pour in."

Correct Answer
verified

Changes in the product characteristically take place in the __________ stage of the product life cycle.

Correct Answer
verified

All of the following are true about the length of product life cycles except which?

Correct Answer
verified

Figure 10-3 -The product life cycle shown in C in Figure 10-3 is an example of a __________ product.

Correct Answer
verified

An expanded marketing mix for services that includes the four Ps (product,price,promotion,and place or distribution) as well as people,physical environment,and process,is referred to as the

Correct Answer
verified

How long is a product life cycle? What determines its length?

Correct Answer
verified
There is no set time that a product take...
View Answer

Warranties,money-back guarantees,extensive usage instructions,demonstrations,and free samples are all ways in which companies

Correct Answer
verified

A good brand name has several characteristics,including that it should

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

Even though Liquid Paper correction fluid is in the __________ stage of its product life cycle,Sanford,its manufacturer,has not deleted it from its line because there is still a residual core of consumers who use the product.

Correct Answer
verified

Exam 10: Managing Successful Products, services, and Brands

Multibranding refers to a branding strategy in which a firm

Correct AnswerverifiedShow Answer

Most services have a limited capacity due to the __________ of the service from the service provider and the perishable nature of the service.

Correct AnswerverifiedShow Answer

Many nonprofit organizations use PSAs in their media planning.What does the acronym PSA stand for?

Correct AnswerverifiedShow Answer

What role does price play in the managing of services?

Correct AnswerverifiedPricing plays two roles in managing serv...View AnswerShow Answer

For consumers,the primary benefit of branding is that

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What federal law protects the trademarks of a firm?

Correct AnswerverifiedShow Answer

A __________ product is one for which significant customer education is required and there is an extended introductory period.

Correct AnswerverifiedShow Answer

Gatorade successfully used a __________ strategy when it introduced a group of lower calorie options called Gatorade G2.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The 3M Co.is a master of the __________ pricing strategy.According to a 3M manager,"We hit fast,price high,and get the heck out when the me-too products pour in."

Correct AnswerverifiedShow Answer

Changes in the product characteristically take place in the __________ stage of the product life cycle.

Correct AnswerverifiedShow Answer

All of the following are true about the length of product life cycles except which?

Correct AnswerverifiedShow Answer

Figure 10-3 -The product life cycle shown in C in Figure 10-3 is an example of a __________ product.

Correct AnswerverifiedShow Answer

An expanded marketing mix for services that includes the four Ps (product,price,promotion,and place or distribution) as well as people,physical environment,and process,is referred to as the

Correct AnswerverifiedShow Answer

How long is a product life cycle? What determines its length?

Correct AnswerverifiedThere is no set time that a product take...View AnswerShow Answer

Warranties,money-back guarantees,extensive usage instructions,demonstrations,and free samples are all ways in which companies

Correct AnswerverifiedShow Answer

A good brand name has several characteristics,including that it should

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

Even though Liquid Paper correction fluid is in the __________ stage of its product life cycle,Sanford,its manufacturer,has not deleted it from its line because there is still a residual core of consumers who use the product.

Correct AnswerverifiedShow Answer

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Pricing plays two roles in managing serv...
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There is no set time that a product take...
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