Exam 9: Product-Mix Strategies

Which of the following is an example of trading down?

During the _____ stage of the product life cycle, both sales and profits rise, numerous competitors enter the market, and sellers use promotional programs to stimulate demand for their brands.

The Holiday Inn chain of motels added luxury hotels to its product line when it introduced Crowne Plaza hotels. This addition of a luxury hotel to the medium-priced Holiday Inns is an example of:

Sumptuous Cakes is the name of a Georgia company that bakes and sells cakes through the mail. The company markets five kinds of cakes: old-fashioned pound cake, amaretto cream, lemon crisp, poppy seed, and chocolate delight. These cakes are all the company markets. These five types of cakes are the company's:

In March of 1908, Board, Armstrong & Company opened a plant in Alexandria, Virginia to make apple cider vinegar. It decided to use the brand name White House because it was located across the river from the Presidential mansion. In 1913, the company changed its name to National Fruit Product Company, and that is its name today. National Fruit is one of the largest apple growers in the United States. In its factory, it produces apple juice, apple sauce, apple cider vinegar, and apple butter, cinnamon apples, and spiced apple rings for consumers and companies in the food service industry. -Apple juice, apple sauce, apple cider vinegar, and apple butter, cinnamon apples, and spiced apple rings are the company's:

The _____ of a company's product mix is measured by the number of product lines it carries.

Another name for the growth stage of the product life cycle is the _____ stage.

The _____ refers to the introduction, rise, popular culmination, and decline of a market's acceptance of a style.

One of the most expensive windows that can be bought is crafted by Andersen Windows. The company makes its windows according to the highest standards and pays attention to the smallest detail. From this information, you know that Andersen Window uses product positioning:

When the adoption of a particular fashion flows downward through several socioeconomic classes, the process is called:

Kofola is a Czech cola that was created during the communist era. Its sales collapsed after the fall of communism. Consumers perceived Coca-Cola to be "glamorously capitalistic." During the first decade of this century, the cola has made a strong comeback by using an appeal to nostalgia and through the use of heartwarming scenarios in its advertising. This is an example of positioning:

Competition in the men's underwear industry is intense; sales are slow; and many manufacturers of men's underwear are using intensive distribution strategies and promotion strategies to increase brand loyalty. This statement indicates men's underwear is in the _____ stage of the product life cycle.

People have been eating Hormel chili for years. Its ads suggest you can use Hormel chili to make burritos and tacos. This type of ad campaign indicates Hormel foods thinks chili is in the _____ stage of its product life cycle.

During which stage of the product life cycle are marketing costs typically the lowest?

_____ means adding a higher-priced, prestige product to a line to attract a higher-income market.

In March of 1908, Board, Armstrong & Company opened a plant in Alexandria, Virginia to make apple cider vinegar. It decided to use the brand name White House because it was located across the river from the Presidential mansion. In 1913, the company changed its name to National Fruit Product Company, and that is its name today. National Fruit is one of the largest apple growers in the United States. In its factory, it produces apple juice, apple sauce, apple cider vinegar, and apple butter, cinnamon apples, and spiced apple rings for consumers and companies in the food service industry. -The addition of apple sauce and apple juice to the company's original line of White House apple cider vinegar was an example of a(n):

Trading up m

Estman Trading Company sells authentic Civil War memorabilia priced from $200 to $30,000. If Estman Trading Company were to introduce a line of facsimiles of some of the harder-to-find denominations of Confederate bills and sell these facsimiles at $25 each, it would be an example of:

Which of the following is an example of a company that has expanded the depth of its product mix?

General Mills's introduction of the Swiss white chocolate flavor to collection of International Coffees is an example of a product mix expansion.