Question 1

What are the five shapes that a product life cycle can take? For each type, describe (as an option, draw) its characteristics.

Accepted Answer

The generalized product life cycle (PLC)

Question 2

A concept that describes the stages a product goes through in the marketplace-introduction, growth, maturity, and decline-is referred to as the

Accepted Answer

A)  retail life cycle. 
B)  product life cycle. 
C)  marketing mix. 
D)  product growth cycle. 
E)  diffusion of product innovation. 
A)  retail life cycle. 
B)  product life cycle. 
C)  marketing mix. 
D)  product growth cycle. 
E)  diffusion of product innovation.

Question 3

3M is a master of the ________ pricing strategy, which uses a high initial price for a new product.

Accepted Answer

A)  penetration 
B)  cost-plus 
C)  ROI 
D)  market-oriented 
E)  skimming 
A)  penetration 
B)  cost-plus 
C)  ROI 
D)  market-oriented 
E)  skimming

Question 4

In terms of the diffusion of innovation, laggards account for ________ percent of product adopters.

Accepted Answer

A)  2.5 
B)  13.5 
C)  16 
D)  34 
E)  50 
A)  2.5 
B)  13.5 
C)  16 
D)  34 
E)  50

Question 5

Packaging that provides convenience, product quality, protection, or easy storage offers what kind of benefits?

Accepted Answer

A)  communication benefits 
B)  functional benefits 
C)  perceptual benefits 
D)  physiological benefits 
E)  financial benefits 
A)  communication benefits 
B)  functional benefits 
C)  perceptual benefits 
D)  physiological benefits 
E)  financial benefits

Question 6

The sale of two or more separate products in one package is referred to as

Accepted Answer

A)  a BOGO deal. 
B)  product modification. 
C)  product repositioning. 
D)  product bundling. 
E)  product differentiation. 
A)  a BOGO deal. 
B)  product modification. 
C)  product repositioning. 
D)  product bundling. 
E)  product differentiation.

Question 7

A strategy of dropping a product from the product line during the decline stage of the product life cycle is referred to as

Accepted Answer

A)  trimming. 
B)  elimination. 
C)  paring down. 
D)  deletion. 
E)  harvesting. 
A)  trimming. 
B)  elimination. 
C)  paring down. 
D)  deletion. 
E)  harvesting.

Question 8

In terms of its effect on faxing, e-mail has

Accepted Answer

A)  led to a significant number of improvements in fax machine technology to keep the product class competitive. 
B)  led to a significant decrease in fax machine sales because e-mail better suits the needs of the business community. 
C)  led to a significant increase in fax machine purchases due to distrust of e-mail spam. 
D)  only a moderate impact since the two technologies do not directly compete with each other. 
E)  caused most fax machine manufacturers to incorporate new Internet technology to send, receive, and print e-mails through a wireless connection to a personal computer. 
A)  led to a significant number of improvements in fax machine technology to keep the product class competitive. 
B)  led to a significant decrease in fax machine sales because e-mail better suits the needs of the business community. 
C)  led to a significant increase in fax machine purchases due to distrust of e-mail spam. 
D)  only a moderate impact since the two technologies do not directly compete with each other. 
E)  caused most fax machine manufacturers to incorporate new Internet technology to send, receive, and print e-mails through a wireless connection to a personal computer.

Question 9

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

Accepted Answer

A)  "It looks delicious but it might make me fat." 
B)  "What if I can't make the monthly payments?" 
C)  "I don't want to use this if it means it will take me longer to get ready in the morning." 
D)  "Big deal, the only difference is the shape of the package." 
E)  "Sure I'll try it; why not!" 
A)  "It looks delicious but it might make me fat." 
B)  "What if I can't make the monthly payments?" 
C)  "I don't want to use this if it means it will take me longer to get ready in the morning." 
D)  "Big deal, the only difference is the shape of the package." 
E)  "Sure I'll try it; why not!"

Question 10

If a firm's marketing dashboard displays a CDI of 80 for a consumer packaged good like Hawaiian Punch, this indicates which of the following?

Accepted Answer

A)  a weak brand position in a segment 
B)  a strong brand position in a segment 
C)  above-average product category purchases by a market segment 
D)  below-average product category purchases by a market segment 
E)  There is not enough information to make any conclusions. 
A)  a weak brand position in a segment 
B)  a strong brand position in a segment 
C)  above-average product category purchases by a market segment 
D)  below-average product category purchases by a market segment 
E)  There is not enough information to make any conclusions.

Question 11

One of the most popular means to gain consumer trial is through

Accepted Answer

A)  demonstrations. 
B)  free samples. 
C)  press releases. 
D)  celebrity endorsements. 
E)  product diffusion. 
A)  demonstrations. 
B)  free samples. 
C)  press releases. 
D)  celebrity endorsements. 
E)  product diffusion.

Question 12

Figure 11-7
-Companies can employ several different branding strategies. In Figure 11-7 above, C 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 13

The Reynolds Wrap aluminum foil box has two side tabs that say "Press Here to Lock Roll" to keep the roll of foil in place during use. This demonstrates which elements of good packaging?

Accepted Answer

A)  perceptual benefits and functional benefits 
B)  protection benefits and functional benefits 
C)  communication benefits and perceptual benefits 
D)  communication benefits and functional benefits 
E)  functional benefits and protection benefits 
A)  perceptual benefits and functional benefits 
B)  protection benefits and functional benefits 
C)  communication benefits and perceptual benefits 
D)  communication benefits and functional benefits 
E)  functional benefits and protection benefits

Question 14

Subbranding involves

Accepted Answer

A)  having one firm manufacture a product and a second firm distribute it all under the same name. 
B)  changing a brand name of a product line extension product by making it "New and Improved!" 
C)  combining a corporate brand with a new brand to distinguish a part of its product line from others. 
D)  creating a knockoff version of a product and changing the spelling of the name ("chikin" nuggets). 
E)  using the same name for the original product and all subsequent product line and brand extensions. 
A)  having one firm manufacture a product and a second firm distribute it all under the same name. 
B)  changing a brand name of a product line extension product by making it "New and Improved!" 
C)  combining a corporate brand with a new brand to distinguish a part of its product line from others. 
D)  creating a knockoff version of a product and changing the spelling of the name ("chikin" nuggets). 
E)  using the same name for the original product and all subsequent product line and brand extensions.

Question 15

Electric automobiles like the Chevrolet Spark made by General Motors are in the introductory stage of the product life cycle. By comparison, 3D printers such as the LulzBot Mini are in the ________ of the product life cycle.

Accepted Answer

A)  decline stage 
B)  commercialization stage 
C)  accelerated development stage 
D)  growth stage 
E)  maturity stage 
A)  decline stage 
B)  commercialization stage 
C)  accelerated development stage 
D)  growth stage 
E)  maturity stage

Question 16

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 branding. 
A)  global branding. 
B)  public branding. 
C)  multibranding. 
D)  brand licensing. 
E)  multiproduct branding.

Question 17

What agency registers the trademarks of a firm?

Accepted Answer

A)  U.S. Chamber of Commerce Trademark and Servicemark Office 
B)  U.S. Department of Commerce Trademark Registry 
C)  United Nations Global Trademark Clearinghouse 
D)  U.S. Federal Trade Commission-Trademark Division 
E)  U.S. Patent and Trademark Office 
A)  U.S. Chamber of Commerce Trademark and Servicemark Office 
B)  U.S. Department of Commerce Trademark Registry 
C)  United Nations Global Trademark Clearinghouse 
D)  U.S. Federal Trade Commission-Trademark Division 
E)  U.S. Patent and Trademark Office

Question 18

The U.S. Patent and Trademark Office website allows you to

Accepted Answer

A)  see if a brand or trade name has been registered. 
B)  view the list of brand franchises available for purchase. 
C)  view the status of trademark infringement lawsuits. 
D)  copyright a book without having to use a lawyer. 
E)  buy unused trademarks. 
A)  see if a brand or trade name has been registered. 
B)  view the list of brand franchises available for purchase. 
C)  view the status of trademark infringement lawsuits. 
D)  copyright a book without having to use a lawyer. 
E)  buy unused trademarks.

Question 19

Kellogg's Frosted Flakes, a ready-to-eat breakfast cereal, has been perceived as a cereal for children. Tony the Tiger, a cartoon character, extolled Frosted Flakes, and advertisements depicted children enjoying the product with Tony. In response to declining sales of Frosted Flakes, the cereal maker has adopted a new series of advertisements that show adults admitting that they enjoy Frosted Flakes, too. Kellogg's is attempting to

Accepted Answer

A)  develop a perceptual map for Frosted Flakes. 
B)  reposition Frosted Flakes. 
C)  complete the Frosted Flakes product life cycle. 
D)  introduce a new product line extension for Frosted Flakes. 
E)  harvest Frosted Flakes. 
A)  develop a perceptual map for Frosted Flakes. 
B)  reposition Frosted Flakes. 
C)  complete the Frosted Flakes product life cycle. 
D)  introduce a new product line extension for Frosted Flakes. 
E)  harvest Frosted Flakes.

Question 20

The consumers who adopt a new product in the earliest stage of a product life cycle are called

Accepted Answer

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

Exam 11: Managing Successful Products, Services, and Brands

What are the five shapes that a product life cycle can take? For each type, describe (as an option, draw) its characteristics.

A concept that describes the stages a product goes through in the marketplace-introduction, growth, maturity, and decline-is referred to as the

3M is a master of the ________ pricing strategy, which uses a high initial price for a new product.

In terms of the diffusion of innovation, laggards account for ________ percent of product adopters.

Packaging that provides convenience, product quality, protection, or easy storage offers what kind of benefits?

The sale of two or more separate products in one package is referred to as

A strategy of dropping a product from the product line during the decline stage of the product life cycle is referred to as

In terms of its effect on faxing, e-mail has

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

If a firm's marketing dashboard displays a CDI of 80 for a consumer packaged good like Hawaiian Punch, this indicates which of the following?

One of the most popular means to gain consumer trial is through

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

The Reynolds Wrap aluminum foil box has two side tabs that say "Press Here to Lock Roll" to keep the roll of foil in place during use. This demonstrates which elements of good packaging?

Subbranding involves

Electric automobiles like the Chevrolet Spark made by General Motors are in the introductory stage of the product life cycle. By comparison, 3D printers such as the LulzBot Mini are in the ________ of the product life cycle.

A branding strategy in which a company uses one name for all its products in a product class is referred to as

What agency registers the trademarks of a firm?

The U.S. Patent and Trademark Office website allows you to

The consumers who adopt a new product in the earliest stage of a product life cycle are called

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

Filters