Question 1

The use of brand names is especially important for services because of which unique characteristic of services?

Accepted Answer

A)  inventory costs
B)  inseparability
C)  inconsistency
D)  invisibility
E)  intangibilityF) A) and B)
G) A) and E)

Question 2

Customer value can assume numerous forms. For Pez Candy, Inc., customer value manifests itself in the form of __________.

Accepted Answer

A)  an upbeat jingle
B)  character candy dispensers
C)  a stylish logotype
D)  sour taste
E)  sugar coatingF) C) and E)
G) B) and D)

Question 3

Sealy, the self-proclaimed largest manufacturer of mattresses in the U.S., recently set out to redefine its function in the bedrooms of America. No longer did it want to be known as simply a mattress company. It wanted Sealy to be known as the world's leading "sleep wellness provider." This is an example of __________.

Accepted Answer

A)  reverse marketing
B)  demarketing
C)  repositioning
D)  segmenting
E)  positioningF) None of the above
G) A) and C)

Question 4

The process of managing the entire customer experience with the company is referred to as

Accepted Answer

A)  services marketing.
B)  internal marketing.
C)  customer experience management.
D)  relationship marketing.
E)  gap analysis.F) A) and B)
G) B) and C)

Question 5

All of the following are true about the price element of services EXCEPT:

Accepted Answer

A)  price can be referred to in a variety of terms.
B)  price can affect consumer perceptions of the service.
C)  price techniques like on-peak pricing are used to manage variations in supply for the service.
D)  price can be used in capacity management.
E)  price can be used in services to imply a higher quality.F) A) and B)
G) B) and C)

Question 6

As product adopters, members of the late majority

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) None of the above
G) A) and B)

Question 7

A good brand name should: (1)  suggest the product benefits; (2)  __________; (3)  fit the company or product image; (4)  have no legal or regulatory restrictions; (5)  be simple and emotional; and (6)  have favorable phonetic and semantic associations in other languages.

Accepted Answer

A)  never have a humorous connotation
B)  easy to spell and pronounce
C)  not be easily imitated
D)  be patented
E)  be memorable, distinctive, and positiveF) B) and D)
G) C) and D)

Question 8

Which of the following products would have a fashion product life cycle curve?

Accepted Answer

A)  high-top sneakers
B)  parabolic skis
C)  personal flotation devices
D)  razor blades
E)  hockey helmetsF) A) and B)
G) A) and C)

Question 9

A contractual agreement whereby one company (licensor)  allows its brand name or trademark to be used with products or services offered by another company (licensee)  for a royalty or fee is referred to as __________.

Accepted Answer

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

Question 10

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

Question 11

Which of the following quotes from a new product adopter would signal the need for a firm to counteract a psychological barrier?

Accepted Answer

A)  "But it might give me acne."
B)  "What if I can't make the monthly payments?"
C)  "I don't want to try this if it means I have to swallow it with milk."
D)  "Big deal, the only difference is the shape of the package."
E)  "Sure I'll try it; why not!"F) D) and E)
G) A) and B)

Question 12

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 performanceF) C) and E)
G) A) and B)

Question 13

For any product to be successful, it must be purchased by __________.

Accepted Answer

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

Question 14

In terms of the diffusion of innovation, early majority accounts for __________ of product adopters.

Accepted Answer

A)  2.5%
B)  13.5%
C)  16%
D)  34%
E)  50%F) A) and B)
G) A) and C)

Question 15

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

Accepted Answer

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

Question 16

If a customer is reluctant to try a new product because she is afraid it might make her ill, the company is most likely facing a(n)  __________ barrier.

Accepted Answer

A)  usage
B)  risk
C)  value
D)  emotional
E)  psychologicalF) C) and D)
G) A) and B)

Question 17

Promotional expenses at the maturity stage of the product life cycle are often designed to __________.

Accepted Answer

A)  convince those who have abandoned the brand to try it again
B)  maintain market share
C)  create a sense of nostalgia
D)  attract more price conscious consumers
E)  thwart the growing number of competitors that have entered the marketF) A) and B)
G) A) and E)

Question 18

Which of the following is a multiproduct branding strategy?

Accepted Answer

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

Question 19

Experts suggest that the customer experience management (CEM)  process should be all of the following EXCEPT:

Accepted Answer

A)  consistent.
B)  undifferentiated.
C)  valuable.
D)  intentional.
E)  relevant.F) B) and E)
G) A) and B)

Question 20

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) B) and C)
G) B) and D)

Exam 10: Managing Successful Products, Services, and Brands

A good brand name should: (1) suggest the product benefits; (2) __________; (3) fit the company or product image; (4) have no legal or regulatory restrictions; (5) be simple and emotional; and (6) have favorable phonetic and semantic associations in other languages.

Correct Answer
verified

For any product to be successful, it must be purchased by __________.

Correct Answer
verified

Customer value can assume numerous forms. For Pez Candy, Inc., customer value manifests itself in the form of __________.

Correct Answer
verified

Which of the following products would have a fashion product life cycle curve?

Correct Answer
verified

Which of the following is a multiproduct branding strategy?

Correct Answer
verified

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

Correct Answer
verified

All of the following are product modification strategies EXCEPT:

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

If a customer is reluctant to try a new product because she is afraid it might make her ill, the company is most likely facing a(n) __________ barrier.

Correct Answer
verified

The process of managing the entire customer experience with the company is referred to as

Correct Answer
verified

Which of the following quotes from a new product adopter would signal the need for a firm to counteract a psychological barrier?

Correct Answer
verified

In terms of the diffusion of innovation, early majority accounts for __________ of product adopters.

Correct Answer
verified

A contractual agreement whereby one company (licensor) allows its brand name or trademark to be used with products or services offered by another company (licensee) for a royalty or fee is referred to as __________.

Correct Answer
verified

Promotional expenses at the maturity stage of the product life cycle are often designed to __________.

Correct Answer
verified

As product adopters, members of the late majority

Correct Answer
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Correct Answer
verified

Experts suggest that the customer experience management (CEM) process should be all of the following EXCEPT:

Correct Answer
verified

All of the following are true about the price element of services EXCEPT:

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

The use of brand names is especially important for services because of which unique characteristic of services?

Correct Answer
verified

Exam 10: Managing Successful Products, Services, and Brands

A good brand name should: (1) suggest the product benefits; (2) __________; (3) fit the company or product image; (4) have no legal or regulatory restrictions; (5) be simple and emotional; and (6) have favorable phonetic and semantic associations in other languages.

Correct AnswerverifiedShow Answer

For any product to be successful, it must be purchased by __________.

Correct AnswerverifiedShow Answer

Customer value can assume numerous forms. For Pez Candy, Inc., customer value manifests itself in the form of __________.

Correct AnswerverifiedShow Answer

Which of the following products would have a fashion product life cycle curve?

Correct AnswerverifiedShow Answer

Which of the following is a multiproduct branding strategy?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

All of the following are product modification strategies EXCEPT:

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

If a customer is reluctant to try a new product because she is afraid it might make her ill, the company is most likely facing a(n) __________ barrier.

Correct AnswerverifiedShow Answer

The process of managing the entire customer experience with the company is referred to as

Correct AnswerverifiedShow Answer

Which of the following quotes from a new product adopter would signal the need for a firm to counteract a psychological barrier?

Correct AnswerverifiedShow Answer

In terms of the diffusion of innovation, early majority accounts for __________ of product adopters.

Correct AnswerverifiedShow Answer

A contractual agreement whereby one company (licensor) allows its brand name or trademark to be used with products or services offered by another company (licensee) for a royalty or fee is referred to as __________.

Correct AnswerverifiedShow Answer

Promotional expenses at the maturity stage of the product life cycle are often designed to __________.

Correct AnswerverifiedShow Answer

As product adopters, members of the late majority

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Experts suggest that the customer experience management (CEM) process should be all of the following EXCEPT:

Correct AnswerverifiedShow Answer

All of the following are true about the price element of services EXCEPT:

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

The use of brand names is especially important for services because of which unique characteristic of services?

Correct AnswerverifiedShow Answer

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

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