Exam 11: Managing Successful Products, Services, and Brands

A billboard showed simply the shape of a bottle. Typically consumers were able to tell that the ad was for Coca-Cola. Why were consumers able to identify the brand? Specifically, what packaging benefit does Coca-Cola use?

Warranties, money-back guarantees, extensive usage instructions, demonstrations, and free samples are all ways in which companies attempt to ________ new product adoption.

An early breakthrough for Justin's was offering its nut butter product in squeeze packs, a low risk to try and very convenient. The packaging in this case mostly likely offers which type of benefits?

The largest numbers of product adopters with respect to the diffusion of innovation are found among

The classifications of innovators, early adopters, early majority, late majority, and laggards are based upon

When a product spreads through the population, it is called the

Which of these is the first of four steps in building brand equity?

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

When Apple introduced the Apple II personal computer in 1977, industry analysts predicted that very few would be sold. However, when the product was made available, consumers who were young, highly educated, adventuresome, and well-informed began buying them. While those buyers were relatively few in number, marketers such as IBM and Compaq were encouraged because other, less adventuresome consumers, like businesspeople, would likely adopt personal computers later. Based on the diffusion of innovation concept, those first buyers of personal computers were

Brand equity is

Products such as Yoplait's Go-GURT®portable low-fat yogurt in a tube demonstrate the importance of the ________ of packaging.

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

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

Brand equity provides a financial advantage for a brand's owner because successful, established brand names have an economic value in the sense that they are

At what stage of the product life cycle does it first become true that most consumers who would buy a product are either repeat purchasers of the item or have tried and abandoned it?

Explain the difference between primary demand and selective demand.

In which stage of the product life cycle do marginal competitors begin to leave the market?

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

Xunrui Communications is an upstart maker of inexpensive smartphones for the Chinese market. Xunrui purchases the components and assembles the phones in Shenzhen, located in southern China. These smartphones retail for about $65, significantly less than the $250 to $800 for smartphones marketed by Apple or Samsung, the top providers. Xunrui Communications most likely is using which pricing strategy in this example?

A marketing strategy that alters a product's characteristic, such as its quality, performance, or appearance, to increase its value and sales to customers is referred to as