Question 1

The central element of the marketing strategy for Pez Candy, Inc., is the

Accepted Answer

A)  price. 
B)  breath mint. 
C)  availability. 
D)  dispenser. 
E)  fulfillment. 
A)  price. 
B)  breath mint. 
C)  availability. 
D)  dispenser. 
E)  fulfillment.

Question 2

At which stage in the product life cycle do industry profits usually peak?

Accepted Answer

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

Question 3

Which of the following products would have a high-learning product life cycle curve?

Accepted Answer

A)  electric cars 
B)  five-blade razors 
C)  fleece bikinis 
D)  titanium golf driver 
E)  spicy ketchup 
A)  electric cars 
B)  five-blade razors 
C)  fleece bikinis 
D)  titanium golf driver 
E)  spicy ketchup

Question 4

A brand name is

Accepted Answer

A)  a product's identifier that only can be spoken. 
B)  a product's identifier that consists of only the symbol or design that cannot be spoken. 
C)  any word, device (design, sound, shape or color), or combination of these used to distinguish a seller's products or services. 
D)  the commercial, legal name under which a company does business. 
E)  the identification of an organization's products based upon individual SKUs. 
A)  a product's identifier that only can be spoken. 
B)  a product's identifier that consists of only the symbol or design that cannot be spoken. 
C)  any word, device (design, sound, shape or color), or combination of these used to distinguish a seller's products or services. 
D)  the commercial, legal name under which a company does business. 
E)  the identification of an organization's products based upon individual SKUs.

Question 5

The product life cycle is

Accepted Answer

A)  the average life span of a product. 
B)  a concept that describes the stages a new product goes through from product concept to commercialization. 
C)  a concept that describes the stages a product goes through in the marketplace-early growth, accelerated development, maturity, and decline. 
D)  a concept that describes the stages a product goes through in the marketplace-introduction, growth, maturity, and decline. 
E)  the amount of time it takes a product innovation to completely diffuse in the marketplace. 
A)  the average life span of a product. 
B)  a concept that describes the stages a new product goes through from product concept to commercialization. 
C)  a concept that describes the stages a product goes through in the marketplace-early growth, accelerated development, maturity, and decline. 
D)  a concept that describes the stages a product goes through in the marketplace-introduction, growth, maturity, and decline. 
E)  the amount of time it takes a product innovation to completely diffuse in the marketplace.

Question 6

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 market. 
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 market.

Question 7

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 program. 
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 program.

Question 8

All of the following are true about a skimming pricing strategy when used during the introduction stage of the product life cycle except which?

Accepted Answer

A)  It capitalizes on the price insensitivity of early buyers. 
B)  It typically results in high profit margins. 
C)  It encourages competitive entrants into the market. 
D)  It helps recover the R&D costs of the new offering. 
E)  It helps build unit volume. 
A)  It capitalizes on the price insensitivity of early buyers. 
B)  It typically results in high profit margins. 
C)  It encourages competitive entrants into the market. 
D)  It helps recover the R&D costs of the new offering. 
E)  It helps build unit volume.

Question 9

The McDonald's Corporation recently announced that it will begin phasing out the use of eggs from hens housed in cages. The company uses about two billion eggs annually, or a little more than 4 percent of the eggs produced in the United States. This change in McDonald's egg-containing products to appeal to healthy eating habits is a ________ strategy.

Accepted Answer

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

Question 10

Despite the success of its Pentium chips, Intel faced a major threat from AMD's cheaper K6 chips, which were better placed to serve the emerging low-cost PC market. Intel wanted to protect the brand equity and price premium of its Pentium microprocessors, but it also wanted to avoid AMD gaining a foothold into the lower end of the market. So it created Celeron as a cheaper, less powerful version of its Pentium chips to serve this market. This is a notable example of a

Accepted Answer

A)  private brand. 
B)  brand extension. 
C)  subbrand. 
D)  co-brand. 
E)  fighting brand. 
A)  private brand. 
B)  brand extension. 
C)  subbrand. 
D)  co-brand. 
E)  fighting brand.

Question 11

All of these are market modification strategies except which?

Accepted Answer

A)  creating a new use situation 
B)  finding new customers 
C)  changing a product's appearance 
D)  targeting new market segments 
E)  increasing a product's use among existing customers 
A)  creating a new use situation 
B)  finding new customers 
C)  changing a product's appearance 
D)  targeting new market segments 
E)  increasing a product's use among existing customers

Question 12

A company may choose a skimming strategy during the introduction stage of its product to help recover costs of development and to

Accepted Answer

A)  capitalize on the price insensitivity of early buyers. 
B)  discourage competition from other manufacturers. 
C)  ease the product into its maturity stage. 
D)  gain the largest unit sales possible. 
E)  gain more distribution outlets. 
A)  capitalize on the price insensitivity of early buyers. 
B)  discourage competition from other manufacturers. 
C)  ease the product into its maturity stage. 
D)  gain the largest unit sales possible. 
E)  gain more distribution outlets.

Question 13

What federal law protects the trademarks of a firm?

Accepted Answer

A)  Sherman Act 
B)  Lanham Act 
C)  Copyright Act 
D)  Clayton Act 
E)  Robinson-Patman Act 
A)  Sherman Act 
B)  Lanham Act 
C)  Copyright Act 
D)  Clayton Act 
E)  Robinson-Patman Act

Question 14

An entire product category or industry is referred to as a

Accepted Answer

A)  product form. 
B)  product class. 
C)  product line. 
D)  product mix. 
E)  product item. 
A)  product form. 
B)  product class. 
C)  product line. 
D)  product mix. 
E)  product item.

Question 15

Marketing for a product in the introduction stage of its product life cycle should focus primarily on gaining awareness and which other marketing objective?

Accepted Answer

A)  stressing differentiation 
B)  stimulating trial 
C)  fostering brand loyalty 
D)  gaining wide distribution 
E)  targeting a niche 
A)  stressing differentiation 
B)  stimulating trial 
C)  fostering brand loyalty 
D)  gaining wide distribution 
E)  targeting a niche

Question 16

Which of these is one of the steps in the sequential process of building brand equity?

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 brand's identity and meaning 
D)  create a 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 brand's identity and meaning 
D)  create a consumer-brand connection 
E)  reward loyal customer behavior

Question 17

Which of these barriers does downsizing try to combat when consumers may either adopt a new product or repurchase an existing one?

Accepted Answer

A)  risk barriers 
B)  usage barriers 
C)  feature bloat barriers 
D)  psychological barriers 
E)  value barriers 
A)  risk barriers 
B)  usage barriers 
C)  feature bloat barriers 
D)  psychological barriers 
E)  value barriers

Question 18

Explain the three primary types of benefits that packaging provides.

Accepted Answer

Packages provide important benefits for

Question 19

Which of the following products would have a low-learning product life cycle curve?

Accepted Answer

A)  electric cars 
B)  five-blade razors 
C)  interactive television 
D)  software for learning a foreign language 
E)  convection ovens 
A)  electric cars 
B)  five-blade razors 
C)  interactive television 
D)  software for learning a foreign language 
E)  convection ovens

Question 20

The primary purpose of a trademark is to

Accepted Answer

A)  legally protect a product's brand name or trade name and prevent others from using it. 
B)  allow a company to use the brand name on multiple products in its product line. 
C)  legally identify the product as having met government standards for its product item. 
D)  help consumers identify a genuine product from a counterfeit product. 
E)  capitalize on the brand equity a consumer associates with the symbol, sound, or image. 
A)  legally protect a product's brand name or trade name and prevent others from using it. 
B)  allow a company to use the brand name on multiple products in its product line. 
C)  legally identify the product as having met government standards for its product item. 
D)  help consumers identify a genuine product from a counterfeit product. 
E)  capitalize on the brand equity a consumer associates with the symbol, sound, or image.

Exam 11: Managing Successful Products, Services, and Brands

The central element of the marketing strategy for Pez Candy, Inc., is the

At which stage in the product life cycle do industry profits usually peak?

Which of the following products would have a high-learning product life cycle curve?

A brand name is

The product life cycle is

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

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

All of the following are true about a skimming pricing strategy when used during the introduction stage of the product life cycle except which?

All of these are market modification strategies except which?

A company may choose a skimming strategy during the introduction stage of its product to help recover costs of development and to

What federal law protects the trademarks of a firm?

An entire product category or industry is referred to as a

Marketing for a product in the introduction stage of its product life cycle should focus primarily on gaining awareness and which other marketing objective?

Which of these is one of the steps in the sequential process of building brand equity?

Which of these barriers does downsizing try to combat when consumers may either adopt a new product or repurchase an existing one?

Explain the three primary types of benefits that packaging provides.

Which of the following products would have a low-learning product life cycle curve?

The primary purpose of a trademark is to

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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