Question 1

All of the following are barriers to the adoption of new products except which?

Accepted Answer

A)  risk 
B)  regulatory 
C)  psychological 
D)  usage 
E)  value 
A)  risk 
B)  regulatory 
C)  psychological 
D)  usage 
E)  value

Question 2

Describe the decline stage of the product life cycle. Explain the two strategies a company might employ if its product were in the decline stage of its product life cycle.

Accepted Answer

The decline stage occurs when sales drop

Question 3

A strategy for managing a product's life cycle that attempts to find new customers, increase a product's use among existing customers, or create new use situations is referred to as

Accepted Answer

A)  market modification. 
B)  product modification. 
C)  product repositioning. 
D)  product extension. 
E)  diversification. 
A)  market modification. 
B)  product modification. 
C)  product repositioning. 
D)  product extension. 
E)  diversification.

Question 4

Figure 11-5
-The consumers represented by Segment C 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 5

The ________ stage of the product life cycle is characterized by the slowing of total industry sales or product class revenue, causing marginal competitors to begin leaving the market.

Accepted Answer

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

Question 6

The challenges of packaging and labeling are often global. One particular challenge facing global manufacturers involves

Accepted Answer

A)  creating larger size packages to be sold at warehouse stores. 
B)  creating packaging sensitive to educational diversity. 
C)  addressing ongoing environmental concerns. 
D)  ensuring ISO 19000 total quality management within national boundaries. 
E)  making packaging an irrelevant part of a firm's marketing strategy. 
A)  creating larger size packages to be sold at warehouse stores. 
B)  creating packaging sensitive to educational diversity. 
C)  addressing ongoing environmental concerns. 
D)  ensuring ISO 19000 total quality management within national boundaries. 
E)  making packaging an irrelevant part of a firm's marketing strategy.

Question 7

Xerox pioneered the first portable fax machine. In 1980, the price was a hefty $12,700. Xerox used ________ pricing strategy to help recover its research and development costs.

Accepted Answer

A)  a penetration 
B)  a cost-plus 
C)  a skimming 
D)  a target ROI 
E)  an above-market 
A)  a penetration 
B)  a cost-plus 
C)  a skimming 
D)  a target ROI 
E)  an above-market

Question 8

Over 50 percent of the dollars spent in the United States on disposable cups and plates go toward the purchase of store brands of these products that are manufacturer by others. ________ has been very successful in this disposables category.

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 9

As more competitors launch their own products in a product class and the product progresses along its life cycle, company attention is focused on creating __________ demand, rather than just demand for the product class.

Accepted Answer

A)  primary 
B)  selective 
C)  derived 
D)  generic 
E)  secondary 
A)  primary 
B)  selective 
C)  derived 
D)  generic 
E)  secondary

Question 10

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these is the BDI, or

Accepted Answer

A)  business development index. 
B)  brand development index. 
C)  business-portfolio development index. 
D)  buyer development index. 
E)  benchmark development index. 
A)  business development index. 
B)  brand development index. 
C)  business-portfolio development index. 
D)  buyer development index. 
E)  benchmark development index.

Question 11

A ________ product requires little learning by the consumer, and the benefits of the purchase are readily understood.

Accepted Answer

A)  high-learning 
B)  fashion 
C)  fad 
D)  substitute 
E)  low-learning 
A)  high-learning 
B)  fashion 
C)  fad 
D)  substitute 
E)  low-learning

Question 12

Men who tried the Gillette Fusion razor were so satisfied with it that 60 percent of them adopted the product permanently. Men who repurchased the razor are known as ________ purchasers.

Accepted Answer

A)  repeat 
B)  routine 
C)  cyclical 
D)  established 
E)  habitual 
A)  repeat 
B)  routine 
C)  cyclical 
D)  established 
E)  habitual

Question 13

Nike has successfully used ________ with its lines Air Jordan and Air Lebron.

Accepted Answer

A)  family branding 
B)  subbranding 
C)  multiproduct branding 
D)  mixed branding 
E)  generic branding 
A)  family branding 
B)  subbranding 
C)  multiproduct branding 
D)  mixed branding 
E)  generic branding

Question 14

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

Accepted Answer

A)  analog TVs 
B)  smartphones 
C)  3D printers 
D)  health insurance 
E)  tablet devices 
A)  analog TVs 
B)  smartphones 
C)  3D printers 
D)  health insurance 
E)  tablet devices

Question 15

7UP is a lemon-lime carbonated soft drink that has been very successful in the United States. Dr Pepper/Seven Up, Inc., the maker of 7UP, uses a family branding strategy to market 7UP worldwide. In China, sales have suffered since the brand name means "death through drinking." Which criterion for picking a good band name did Dr Pepper/Seven Up, Inc. violate when it chose to use a family branding strategy to market 7UP in China?

Accepted Answer

A)  The name should have favorable phonetic and semantic associations in other languages. 
B)  The name should be simple. 
C)  The name should have no governmental restrictions. 
D)  The name should suggest the product's benefits. 
E)  The name should not be difficult to spell or pronounce. 
A)  The name should have favorable phonetic and semantic associations in other languages. 
B)  The name should be simple. 
C)  The name should have no governmental restrictions. 
D)  The name should suggest the product's benefits. 
E)  The name should not be difficult to spell or pronounce.

Question 16

According to the concept of the diffusion of innovation, consumers who are leaders in social settings and have slightly above average education are called

Accepted Answer

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

Question 17

The Samsung brand includes the familiar Samsung Electronics, but also Samsung Heavy Industries, Samsung Engineering, Samsung C&T (construction), and Samsung Life Insurance. This company uses

Accepted Answer

A)  multibranding. 
B)  uniform branding. 
C)  co-branding. 
D)  corporate branding. 
E)  agent licensing. 
A)  multibranding. 
B)  uniform branding. 
C)  co-branding. 
D)  corporate branding. 
E)  agent licensing.

Question 18

The appearance of competitors often signals the beginning of the ________ stage of the product life cycle.

Accepted Answer

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

Question 19

The formula ________ is used to calculate BDI.

Accepted Answer

A)  (Percent of the total U.S. population in a market segment ÷ Percent of a brand's total U.S. sales in a market segment) × 100 
B)  (Percent of a product category's total U.S. sales in a market segment ÷ Percent of the total U.S. population in a market segment) × 100 
C)  (Percent of a brand's total U.S. sales in a market segment ÷ Percent of the total U.S. population in a market segment) × 100 
D)  (Percent of the total U.S. population in a market segment ÷ Percent of a product category's total U.S. sales in a market segment) × 100 
E)  of the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself 
A)  (Percent of the total U.S. population in a market segment ÷ Percent of a brand's total U.S. sales in a market segment) × 100 
B)  (Percent of a product category's total U.S. sales in a market segment ÷ Percent of the total U.S. population in a market segment) × 100 
C)  (Percent of a brand's total U.S. sales in a market segment ÷ Percent of the total U.S. population in a market segment) × 100 
D)  (Percent of the total U.S. population in a market segment ÷ Percent of a product category's total U.S. sales in a market segment) × 100 
E)  of the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself

Question 20

Several factors explain why a consumer would be reluctant to adopt a new product. For example, a consumer might be reluctant to adopt a new product because of a value barrier, which occurs when

Accepted Answer

A)  there are physical, economic, or social risks. 
B)  there are cultural differences. 
C)  the financial commitment is too great. 
D)  there is no incentive to change. 
E)  the product is not consistent with existing habits. 
A)  there are physical, economic, or social risks. 
B)  there are cultural differences. 
C)  the financial commitment is too great. 
D)  there is no incentive to change. 
E)  the product is not consistent with existing habits.

Exam 11: Managing Successful Products, Services, and Brands

All of the following are barriers to the adoption of new products except which?

Describe the decline stage of the product life cycle. Explain the two strategies a company might employ if its product were in the decline stage of its product life cycle.

A strategy for managing a product's life cycle that attempts to find new customers, increase a product's use among existing customers, or create new use situations is referred to as

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

The ________ stage of the product life cycle is characterized by the slowing of total industry sales or product class revenue, causing marginal competitors to begin leaving the market.

The challenges of packaging and labeling are often global. One particular challenge facing global manufacturers involves

Xerox pioneered the first portable fax machine. In 1980, the price was a hefty $12,700. Xerox used ________ pricing strategy to help recover its research and development costs.

Over 50 percent of the dollars spent in the United States on disposable cups and plates go toward the purchase of store brands of these products that are manufacturer by others. ________ has been very successful in this disposables category.

As more competitors launch their own products in a product class and the product progresses along its life cycle, company attention is focused on creating __________ demand, rather than just demand for the product class.

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these is the BDI, or

A ________ product requires little learning by the consumer, and the benefits of the purchase are readily understood.

Men who tried the Gillette Fusion razor were so satisfied with it that 60 percent of them adopted the product permanently. Men who repurchased the razor are known as ________ purchasers.

Nike has successfully used ________ with its lines Air Jordan and Air Lebron.

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

According to the concept of the diffusion of innovation, consumers who are leaders in social settings and have slightly above average education are called

The Samsung brand includes the familiar Samsung Electronics, but also Samsung Heavy Industries, Samsung Engineering, Samsung C&T (construction), and Samsung Life Insurance. This company uses

The appearance of competitors often signals the beginning of the ________ stage of the product life cycle.

The formula ________ is used to calculate BDI.

Several factors explain why a consumer would be reluctant to adopt a new product. For example, a consumer might be reluctant to adopt a new product because of a value barrier, which occurs when

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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