Question 1

Ralston Purina advertises with the following slogan: "Your Pet, Our Passion - Premium Pet Food by Purina." The firm now offers high quality, super-premium cat and dog food based on formulations that promote life stage nutrition. This line is an example of __________.

Accepted Answer

A)  rebranding
B)  trading up
C)  trading down
D)  trend setting
E)  product brandingF) A) and E)
G) A) and B)

Question 2

Service organizations must manage the availability of the offering so that __________ and the organization's assets are used in ways that will maximize the return on investment (ROI) .

Accepted Answer

A)  marginal costs exceeds marginal revenues
B)  service encounters can identify planning gaps
C)  demand matches capacity over the duration of the demand cycle
D)  the price elasticity of demand is unitary
E)  the service experience is consistent with the sharing economy standards of the organization's industryF) All of the above
G) A) and E)

Question 3

-If you were a marketing manager and were presented with the information in the CDI/BDI Marketing Dashboard above, you would determine that the __________ segment has the most opportunity for increasing Hawaiian Punch sales.

Accepted Answer

A)  households without children
B)  households with children 13 to 18 years old
C)  households with children 6 years old or under
D)  households with children 7 to 12 years old
E)  According to the BDI, all though some segments measure above a 100, there is still great opportunity for growth in every segmentF) A) and B)
G) B) and D)

Question 4

Promotional expenditures at the introduction stage of the product life cycle are best spent on __________.

Accepted Answer

A)  contests and sweepstakes to stimulate selective demand
B)  product samples to create secondary demand
C)  advertising to cultivate primary demand
D)  personal endorsements to generate word of mouth demand
E)  coupons to maintain brand loyalty or static demandF) A) and D)
G) B) and E) C

Question 5

-The product life cycle shown in C in Figure 10-3 above 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 C)

Question 6

The lack of profit in the introductory stage of the product life cycle is very often the result of __________.

Accepted Answer

A)  pricing the product too low in an attempt to quickly gain market share
B)  targeting the wrong target market segment
C)  a lack of wholesaler support
D)  the large investment costs in product development
E)  ineffective execution of the marketing programF) D) and E)
G) B) and D)

Question 7

Describe a brand name and explain how it is related to a logo.

Accepted Answer

A brand name is any word, device (design...

Question 8

The preference for a specific brand is called __________ demand.

Accepted Answer

A)  selective
B)  secondary
C)  primary
D)  derived
E)  genericF) A) and E)
G) A) and C)

Question 9

The life cycle of a product depends on sales to __________.

Accepted Answer

A)  consumers
B)  distributors
C)  intermediaries
D)  regulators
E)  exportersF) C) and D)
G) A) and E) A

Question 10

Reducing the package content without changing package size while maintaining or increasing the package price is referred to as __________.

Accepted Answer

A)  outsourcing
B)  trading up
C)  shrinkage
D)  upsizing
E)  downsizingF) A) and B)
G) C) and D)

Question 11

When the National Cattlemen's Beef Association developed the "Beef, It's What's for Dinner" advertising campaign, it was trying to stimulate __________ demand.

Accepted Answer

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

Question 12

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) A) and D)
G) C) and D)

Question 13

Adding value to the product (or line)  through additional features or higher-quality materials is referred to as __________.

Accepted Answer

A)  trading up
B)  trading down
C)  product enhancement
D)  product extension
E)  quality infusementF) None of the above
G) B) and E)

Question 14

There is no set time that a product takes to move through its life cycle. But, as a rule, __________.

Accepted Answer

A)  services do not have a life cycle like products do
B)  consumer products have shorter life cycles than business products
C)  technological change tends to lengthen product life cycles
D)  business products have shorter life cycles than consumer products
E)  product life cycles are longer for ideas than for servicesF) A) and D)
G) C) and D)

Question 15

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

Question 16

Products tend to consume a disproportionate share of management and financial resources relative to their future worth throughout which stage of the product life cycle?

Accepted Answer

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

Question 17

Brand equity is the added value a brand name gives to a product beyond the functional benefits provided. This value has two distinct advantages: it creates a competitive advantage and __________.

Accepted Answer

A)  it guarantees the lowest prices
B)  decision making becomes easier for consumers
C)  there is no need for coupons, discounts, or other customer incentives
D)  customers are often willing to pay a higher price
E)  new market segments are easily added to the market-product gridF) A) and D)
G) A) and C)

Question 18

When consumers think of Harley-Davidson, the image is of a masculine non-conformist. With Vespa motor scooters, they think of a brainy environmentalist. Both Vespa and Harley-Davidson __________.

Accepted Answer

A)  have developed brand personalities
B)  avoid brand subcultures
C)  are logotypes
D)  use co-branding
E)  use product personificationF) A) and E)
G) B) and D)

Question 19

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) C) and E) A

Question 20

Pretzels were first introduced as a salty snack. Later, the product was repositioned as a low-fat snack in order to __________.

Accepted Answer

A)  respond to a competitor's head-to-head positioning strategy
B)  reach a new market
C)  catch a rising trend
D)  change the value offered
E)  change its target audienceF) None of the above
G) A) and E)

Exam 10: Managing Successful Products, Services, and Brands

Ralston Purina advertises with the following slogan: "Your Pet, Our Passion - Premium Pet Food by Purina." The firm now offers high quality, super-premium cat and dog food based on formulations that promote life stage nutrition. This line is an example of __________.

Correct AnswerverifiedShow Answer

Service organizations must manage the availability of the offering so that __________ and the organization's assets are used in ways that will maximize the return on investment (ROI) .

Correct AnswerverifiedShow Answer

-If you were a marketing manager and were presented with the information in the CDI/BDI Marketing Dashboard above, you would determine that the __________ segment has the most opportunity for increasing Hawaiian Punch sales.

Correct AnswerverifiedShow Answer

Promotional expenditures at the introduction stage of the product life cycle are best spent on __________.

Correct AnswerverifiedC

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

Correct AnswerverifiedShow Answer

The lack of profit in the introductory stage of the product life cycle is very often the result of __________.

Correct AnswerverifiedShow Answer

Describe a brand name and explain how it is related to a logo.

Correct AnswerverifiedA brand name is any word, device (design...View AnswerShow Answer

The preference for a specific brand is called __________ demand.

Correct AnswerverifiedShow Answer

The life cycle of a product depends on sales to __________.

Correct AnswerverifiedA

Reducing the package content without changing package size while maintaining or increasing the package price is referred to as __________.

Correct AnswerverifiedShow Answer

When the National Cattlemen's Beef Association developed the "Beef, It's What's for Dinner" advertising campaign, it was trying to stimulate __________ demand.

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

Adding value to the product (or line) through additional features or higher-quality materials is referred to as __________.

Correct AnswerverifiedShow Answer

There is no set time that a product takes to move through its life cycle. But, as a rule, __________.

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

Products tend to consume a disproportionate share of management and financial resources relative to their future worth throughout which stage of the product life cycle?

Correct AnswerverifiedShow Answer

Brand equity is the added value a brand name gives to a product beyond the functional benefits provided. This value has two distinct advantages: it creates a competitive advantage and __________.

Correct AnswerverifiedShow Answer

When consumers think of Harley-Davidson, the image is of a masculine non-conformist. With Vespa motor scooters, they think of a brainy environmentalist. Both Vespa and Harley-Davidson __________.

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 AnswerverifiedA

Pretzels were first introduced as a salty snack. Later, the product was repositioned as a low-fat snack in order to __________.

Correct AnswerverifiedShow Answer

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