Question 1

The fourth and final step in the sequential process of building brand equity is to

Accepted Answer

A)  develop positive brand awareness. 
B)  establish a brand's meaning in the minds of consumers. 
C)  elicit the proper consumer responses to a brands identity and meaning. 
D)  create an intense, active, and loyal consumer-brand connection. 
E)  reward loyal customer behavior. 
A)  develop positive brand awareness. 
B)  establish a brand's meaning in the minds of consumers. 
C)  elicit the proper consumer responses to a brands identity and meaning. 
D)  create an intense, active, and loyal consumer-brand connection. 
E)  reward loyal customer behavior.

Question 2

Define brand equity. List the four sequential steps used to develop brand equity. Which step is the most difficult?

Accepted Answer

Brand equity is the added value a brand

Question 3

Reducing the number of features, qualities, or price when repositioning a product is referred to as

Accepted Answer

A)  product paring. 
B)  down trading. 
C)  product deflation. 
D)  trading down. 
E)  product simplification. 
A)  product paring. 
B)  down trading. 
C)  product deflation. 
D)  trading down. 
E)  product simplification.

Question 4

Figure 11-1
-Figure 11-1 above represents the stages of the product life cycle. What does the section of the graph labeled B represent?

Accepted Answer

A)  progression 
B)  maturity 
C)  growth 
D)  accelerated development 
E)  decline 
A)  progression 
B)  maturity 
C)  growth 
D)  accelerated development 
E)  decline

Question 5

Gatorade is most likely in which stage of its product life cycle?

Accepted Answer

A)  introduction 
B)  growth 
C)  maturity 
D)  decline 
E)  acceleration 
A)  introduction 
B)  growth 
C)  maturity 
D)  decline 
E)  acceleration

Question 6

Many U.S. consumers purchase store brands like Kirkland at Costco because they provide a lower cost alternative to other brands. Companies like Costco use a ________ strategy to sell products that they do not manufacturer themselves.

Accepted Answer

A)  generic branding 
B)  multibranding 
C)  co-branding 
D)  multiproduct branding 
E)  private branding 
A)  generic branding 
B)  multibranding 
C)  co-branding 
D)  multiproduct branding 
E)  private branding

Question 7

Your product has been suffering from steadily eroding sales. You have tried a number of options to revitalize the product's sales and profits, but after seven changes in your strategy, you have yet to find success. Which of the following actions would be the least appropriate next step?

Accepted Answer

A)  Delete the product from the line. 
B)  Retain the product, but reduce its marketing costs. 
C)  Stimulate primary demand. 
D)  Stimulate selective demand. 
E)  Rebrand the product. 
A)  Delete the product from the line. 
B)  Retain the product, but reduce its marketing costs. 
C)  Stimulate primary demand. 
D)  Stimulate selective demand. 
E)  Rebrand the product.

Question 8

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

Accepted Answer

A)  services are highly affected by social trends while tangible goods are not. 
B)  consumer products have shorter life cycles than business products. 
C)  business products typically show very short maturity stages. 
D)  technological change tends to lengthen product life cycles. 
E)  product life cycles are longer for ideas than for services. 
A)  services are highly affected by social trends while tangible goods are not. 
B)  consumer products have shorter life cycles than business products. 
C)  business products typically show very short maturity stages. 
D)  technological change tends to lengthen product life cycles. 
E)  product life cycles are longer for ideas than for services.

Question 9

Which of the following statements about perceptual benefits conveyed by a product's packaging and labeling is false?

Accepted Answer

A)  Packaging and labeling convey a brand's positioning and build brand equity. 
B)  Packaging and labeling have been shown to enhance brand recognition and facilitate the formation of strong, favorable, and unique brand associations. 
C)  The legal requirements for the conveyance of information are an important component of perceptual benefits. 
D)  Changes in packaging and labeling can update or uphold a brand's image in consumers' minds. 
E)  The color, shape, and graphics of a package or label can help distinguish one brand from another. 
A)  Packaging and labeling convey a brand's positioning and build brand equity. 
B)  Packaging and labeling have been shown to enhance brand recognition and facilitate the formation of strong, favorable, and unique brand associations. 
C)  The legal requirements for the conveyance of information are an important component of perceptual benefits. 
D)  Changes in packaging and labeling can update or uphold a brand's image in consumers' minds. 
E)  The color, shape, and graphics of a package or label can help distinguish one brand from another.

Question 10

Mixed 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 sell them under the brand name of a wholesaler or retailer. 
E)  markets some products under its own name(s) and other products under the name of a reseller because the segment attracted to the reseller is different from its own market. 
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 sell them under the brand name of a wholesaler or retailer. 
E)  markets some products under its own name(s) and other products under the name of a reseller because the segment attracted to the reseller is different from its own market.

Question 11

Figure 11-5
-The consumers represented by Segment D in Figure 11-5 above are called

Accepted Answer

A)  early adopters. 
B)  late majority. 
C)  laggards. 
D)  early majority. 
E)  innovators. 
A)  early adopters. 
B)  late majority. 
C)  laggards. 
D)  early majority. 
E)  innovators.

Question 12

Hot-Can Café Latte coffee comes in single-serving, self-heating containers. Not only does this benefit people on the go, it is a popular product with backpackers and hunters because they can still have hot coffee when there is no electricity - no heat source necessary! This demonstrates which benefit of good packaging?

Accepted Answer

A)  communication benefit 
B)  perceptual benefit 
C)  financial benefit 
D)  societal benefit 
E)  functional benefit 
A)  communication benefit 
B)  perceptual benefit 
C)  financial benefit 
D)  societal benefit 
E)  functional benefit

Question 13

Figure 11-7
-Companies can employ several different branding strategies. In Figure 11-7 above, B represents a ________ strategy.

Accepted Answer

A)  retailer branding 
B)  multiproduct branding 
C)  multibranding 
D)  private branding 
E)  mixed branding 
A)  retailer branding 
B)  multiproduct branding 
C)  multibranding 
D)  private branding 
E)  mixed branding

Question 14

When Coca-Cola promoted Coke as a morning beverage for those consumers who don't drink coffee, it used a ________ strategy.

Accepted Answer

A)  product modification 
B)  brand modification 
C)  market-product extension 
D)  diversification 
E)  market modification 
A)  product modification 
B)  brand modification 
C)  market-product extension 
D)  diversification 
E)  market modification

Question 15

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 coating. 
A)  an upbeat jingle. 
B)  character candy dispensers. 
C)  a stylish logotype. 
D)  sour taste. 
E)  sugar coating.

Question 16

Figure 11-6
-Figure 11-6 above shows the sequential process of building brand equity. F represents the fourth and last step, which is to

Accepted Answer

A)  elicit the proper consumer responses to a brand's identity and meaning. 
B)  develop positive brand awareness. 
C)  reward loyal customer behavior. 
D)  establish a brand's meaning in the minds of consumers. 
E)  create a consumer-brand connection. 
A)  elicit the proper consumer responses to a brand's identity and meaning. 
B)  develop positive brand awareness. 
C)  reward loyal customer behavior. 
D)  establish a brand's meaning in the minds of consumers. 
E)  create a consumer-brand connection.

Question 17

If a customer is reluctant to try a new product because she's afraid it might make her ill, the product is most likely facing ________ barrier.

Accepted Answer

A)  a usage 
B)  a risk 
C)  a value 
D)  an emotional 
E)  a psychological 
A)  a usage 
B)  a risk 
C)  a value 
D)  an emotional 
E)  a psychological

Question 18

Three important aspects of product life cycles are their length, the shape of their sales curves, and

Accepted Answer

A)  the propensity for consumers to switch brands. 
B)  the difference between product classes and forms. 
C)  the impact of word-of-mouth. 
D)  whether competitors create rival offerings. 
E)  how environmental forces change the environment. 
A)  the propensity for consumers to switch brands. 
B)  the difference between product classes and forms. 
C)  the impact of word-of-mouth. 
D)  whether competitors create rival offerings. 
E)  how environmental forces change the environment.

Question 19

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

Accepted Answer

A)  start harvesting 
B)  add outlets 
C)  stress differentiation 
D)  gain awareness 
E)  maintain brand loyalty 
A)  start harvesting 
B)  add outlets 
C)  stress differentiation 
D)  gain awareness 
E)  maintain brand loyalty

Question 20

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)  "I feel self-conscious wearing this." 
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)  "It looks just like the old version." 
E)  "Sure I'll try it; why not!" 
A)  "I feel self-conscious wearing this." 
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)  "It looks just like the old version." 
E)  "Sure I'll try it; why not!"

Exam 11: Managing Successful Products, Services, and Brands

The fourth and final step in the sequential process of building brand equity is to

Define brand equity. List the four sequential steps used to develop brand equity. Which step is the most difficult?

Reducing the number of features, qualities, or price when repositioning a product is referred to as

Figure 11-1 -Figure 11-1 above represents the stages of the product life cycle. What does the section of the graph labeled B represent?

Gatorade is most likely in which stage of its product life cycle?

Many U.S. consumers purchase store brands like Kirkland at Costco because they provide a lower cost alternative to other brands. Companies like Costco use a ________ strategy to sell products that they do not manufacturer themselves.

Your product has been suffering from steadily eroding sales. You have tried a number of options to revitalize the product's sales and profits, but after seven changes in your strategy, you have yet to find success. Which of the following actions would be the least appropriate next step?

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

Which of the following statements about perceptual benefits conveyed by a product's packaging and labeling is false?

Mixed branding refers to a branding strategy in which a firm

Figure 11-5 -The consumers represented by Segment D in Figure 11-5 above are called

Figure 11-7 -Companies can employ several different branding strategies. In Figure 11-7 above, B represents a ________ strategy.

When Coca-Cola promoted Coke as a morning beverage for those consumers who don't drink coffee, it used a ________ strategy.

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

Figure 11-6 -Figure 11-6 above shows the sequential process of building brand equity. F represents the fourth and last step, which is to

If a customer is reluctant to try a new product because she's afraid it might make her ill, the product is most likely facing ________ barrier.

Three important aspects of product life cycles are their length, the shape of their sales curves, and

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

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

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multi-Channel Marketing

Pulling It All Together: the Strategic Marketing Proces

Building an Effective Marketing Plan

Financial Aspects of Marketing

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