Question 1

A product mix is:

Accepted Answer

A)  the list of tangible goods and intangible services provided by a combination of several different retail outlets. 
B)  a combination of all goods created by the production process and all services provided by members of the channel at all levels. 
C)  the combination of goods, services, price, promotion, and distribution in a company. 
D)  the full set of all products sold by a company. 
E)  not applicable to a company that sells only services. 
A)  the list of tangible goods and intangible services provided by a combination of several different retail outlets. 
B)  a combination of all goods created by the production process and all services provided by members of the channel at all levels. 
C)  the combination of goods, services, price, promotion, and distribution in a company. 
D)  the full set of all products sold by a company. 
E)  not applicable to a company that sells only services.

Question 2

Common strategies used during the maturity stage of the product life cycle are product modification, changes in promotional strategies, and product innovation.

Accepted Answer

A) True 
 B)False

Question 3

Carnation Instant Breakfast is an enriched powder that when mixed with milk makes a healthy breakfast. The product has been offered in a box that is shaped more like a cereal box. A new packaging design has been created, which is cube-shaped. The new shape with make the package easier to store. The new packaging is an example of:

Accepted Answer

A)  trading up. 
B)  product alteration. 
C)  product mix contraction. 
D)  repositioning. 
E)  trading down. 
A)  trading up. 
B)  product alteration. 
C)  product mix contraction. 
D)  repositioning. 
E)  trading down.

Question 4

The product life cycle refers to individual brands as well as product categories.

Accepted Answer

A) True 
 B)False

Question 5

Like many characters created for commercials, the duck from the AFLAC insurance commercials has appeared on T-shirts, caps, cups, and posters-some licensed, many not. Soon some other commercials will capture the attention of U.S. consumers, and some other character(s) will appear on T-shirts, caps, cups, and posters. These commercial-derived products are examples of:

Accepted Answer

A)  product positioning. 
B)  fads. 
C)  forecasted trends. 
D)  postponed obsolescence. 
E)  styles. 
A)  product positioning. 
B)  fads. 
C)  forecasted trends. 
D)  postponed obsolescence. 
E)  styles.

Question 6

According to its ads, Breitling makes chronometers, even though you and I might think they look like watches. Its cheapest chronometer sells for $200. Some models can cost $5,000 or more. If Breitling were to add an economy-priced line of watches to be sold at grocery checkout stands, it would be an example of:

Accepted Answer

A)  trading up. 
B)  revamping. 
C)  product augmenting. 
D)  repositioning. 
E)  trading down. 
A)  trading up. 
B)  revamping. 
C)  product augmenting. 
D)  repositioning. 
E)  trading down.

Question 7

Which of the following strategies is most likely to be used by furniture manufacturers such as Thomasville, Lane, Hickory White, and Baker to increase their replacement market?

Accepted Answer

A)  technological obsolescence 
B)  product positioning 
C)  utilitarian obsolescence 
D)  style obsolescence 
E)  functional obsolescence 
A)  technological obsolescence 
B)  product positioning 
C)  utilitarian obsolescence 
D)  style obsolescence 
E)  functional obsolescence

Question 8

Which of the following statements about the product life cycle is True?

Accepted Answer

A)  Every product goes through every stage of the product life cycle. 
B)  The product life cycle can be illustrated through demand and supply curves. 
C)  For most products, the decline stage never arrives. 
D)  In general, product life cycles are getting shorter. 
E)  The stages in the product life cycle usually last for approximately equal periods of time. 
A)  Every product goes through every stage of the product life cycle. 
B)  The product life cycle can be illustrated through demand and supply curves. 
C)  For most products, the decline stage never arrives. 
D)  In general, product life cycles are getting shorter. 
E)  The stages in the product life cycle usually last for approximately equal periods of time.

Question 9

A _____ is defined as a distinctive manner of construction or presentation in an art, product, or endeavor.

Accepted Answer

A)  planned obsolescence 
B)  product position 
C)  style 
D)  product mix 
E)  marketing mix 
A)  planned obsolescence 
B)  product position 
C)  style 
D)  product mix 
E)  marketing mix

Question 10

The fashion-adoption process reflects the influence of _____ on consumer buying behavior.

Accepted Answer

A)  derived demand 
B)  culture, social class, and reference groups 
C)  demographics 
D)  behavior and usage 
E)  psychographics 
A)  derived demand 
B)  culture, social class, and reference groups 
C)  demographics 
D)  behavior and usage 
E)  psychographics

Question 11

The owner of Downtown Car Repair, a well-established business, has hired two new mechanics who are trained to work on luxury cars like Mercedes-Benz and Lexus. To pay for the expertise of the new mechanics and the price of replacement parts for these cars, the owner raised prices by 15 percent. Downtown Car Repair's major challenge will be:

Accepted Answer

A)  avoiding conflict between the new and old mechanics. 
B)  changing the firm's image enough so that new customers will accept the higher-priced services. 
C)  determining variable costs. 
D)  calculating break-even points. 
E)  predicting the reaction of the shop's competitors. 
A)  avoiding conflict between the new and old mechanics. 
B)  changing the firm's image enough so that new customers will accept the higher-priced services. 
C)  determining variable costs. 
D)  calculating break-even points. 
E)  predicting the reaction of the shop's competitors.

Question 12

Cooking oils such as Mazola, which are low in fat, use a positioning strategy based on a product attribute.

Accepted Answer

A) True 
 B)False

Question 13

A _____ is a product or style that becomes immensely popular nearly overnight and then falls out of  favor with consumers almost as quickly.

Accepted Answer

The answer of A _____ is a product or style...

Question 14

Which of the stages of the product life cycle is the most risky and expensive?

Accepted Answer

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

Question 15

When La-Z-Boy introduced Small Comforts, a selection of recliners designed for petites, it was an example of a(n):

Accepted Answer

A)  change in strategic marketing strategy. 
B)  positioning in relation to a competitor. 
C)  change in organizational goals. 
D)  line extension. 
E)  organizational restructuring. 
A)  change in strategic marketing strategy. 
B)  positioning in relation to a competitor. 
C)  change in organizational goals. 
D)  line extension. 
E)  organizational restructuring.

Question 16

Dial Company introduced liquid soap in 1988. Today competition in the industry is intense. The manufacturers of liquid soap are adopting a defensive positioning strategy and intensive product distribution. Their promotions appeal to brand loyalty. From this information, you know that liquid soap is in the _____ stage of its product life cycle.

Accepted Answer

A)  introduction 
B)  market-acceptance 
C)  decline 
D)  maturity 
E)  growth 
A)  introduction 
B)  market-acceptance 
C)  decline 
D)  maturity 
E)  growth

Question 17

Product abandonment:

Accepted Answer

A)  is never an appropriate product strategy to use. 
B)  is more effective when done before the product reaches the decline stage of its product life cycle. 
C)  creates product obsolescence. 
D)  may be a difficult strategy for a manager to implement due to emotional attachments. 
E)  is not needed when there is a strong distribution channel. 
A)  is never an appropriate product strategy to use. 
B)  is more effective when done before the product reaches the decline stage of its product life cycle. 
C)  creates product obsolescence. 
D)  may be a difficult strategy for a manager to implement due to emotional attachments. 
E)  is not needed when there is a strong distribution channel.

Question 18

In order to use a _____ strategy, management must develop the image that a product projects in relation  to competitive products and to the firm's other products.

Accepted Answer

The answer of In order to use a _____ strategy,...

Question 19

In a bed-and-bath shop, sheets, towels, soap dispensers, and bath mats constitute:

Accepted Answer

A)  the store's marketing mix. 
B)  four separate product lines. 
C)  the depth of the store's product line. 
D)  the breadth of the store's product line. 
E)  a fashion cycle. 
A)  the store's marketing mix. 
B)  four separate product lines. 
C)  the depth of the store's product line. 
D)  the breadth of the store's product line. 
E)  a fashion cycle.

Question 20

When a water heater manufacturer added a gadget that prevents fires caused by gas-fired water heaters to its product line, it was an example of an increase in product-line depth.

Accepted Answer

A) True 
 B)False

A product mix is:

Common strategies used during the maturity stage of the product life cycle are product modification, changes in promotional strategies, and product innovation.

The product life cycle refers to individual brands as well as product categories.

Which of the following strategies is most likely to be used by furniture manufacturers such as Thomasville, Lane, Hickory White, and Baker to increase their replacement market?

Which of the following statements about the product life cycle is True?

A _____ is defined as a distinctive manner of construction or presentation in an art, product, or endeavor.

The fashion-adoption process reflects the influence of _____ on consumer buying behavior.

Cooking oils such as Mazola, which are low in fat, use a positioning strategy based on a product attribute.

A _____ is a product or style that becomes immensely popular nearly overnight and then falls out of favor with consumers almost as quickly.

Which of the stages of the product life cycle is the most risky and expensive?

When La-Z-Boy introduced Small Comforts, a selection of recliners designed for petites, it was an example of a(n):

Product abandonment:

In order to use a _____ strategy, management must develop the image that a product projects in relation to competitive products and to the firm's other products.

In a bed-and-bath shop, sheets, towels, soap dispensers, and bath mats constitute:

When a water heater manufacturer added a gadget that prevents fires caused by gas-fired water heaters to its product line, it was an example of an increase in product-line depth.

The Field of Marketing

The Dynamic Marketing Environment

Global Markets and Marketing

Consumer Markets and Buying Behavior

Business Markets and Buying Behavior

Marketing Research and Market Information

Product Planning and Development

Brands, Packaging, and Other Product Features

Services Marketing

Price Determination

Pricing Strategies

Channels of Distribution

Retailing

Wholesaling and Physical Distribution

Integrated Marketing Communications

Personal Selling and Sales Management

Advertising, Sales Promotion, and Public Relations

Strategic Marketing Planning

Marketing Implementation and Evaluation

Marketing and the Information Economy

Market Segmentation Targeting and Positioning

Filters

Exam 9: Product-Mix Strategies

A product mix is:

Common strategies used during the maturity stage of the product life cycle are product modification, changes in promotional strategies, and product innovation.

The product life cycle refers to individual brands as well as product categories.

Which of the following strategies is most likely to be used by furniture manufacturers such as Thomasville, Lane, Hickory White, and Baker to increase their replacement market?

Which of the following statements about the product life cycle is True?

A _____ is defined as a distinctive manner of construction or presentation in an art, product, or endeavor.

The fashion-adoption process reflects the influence of _____ on consumer buying behavior.

Cooking oils such as Mazola, which are low in fat, use a positioning strategy based on a product attribute.

A _____ is a product or style that becomes immensely popular nearly overnight and then falls out of favor with consumers almost as quickly.

Which of the stages of the product life cycle is the most risky and expensive?

When La-Z-Boy introduced Small Comforts, a selection of recliners designed for petites, it was an example of a(n):

Product abandonment:

In order to use a _____ strategy, management must develop the image that a product projects in relation to competitive products and to the firm's other products.

In a bed-and-bath shop, sheets, towels, soap dispensers, and bath mats constitute:

When a water heater manufacturer added a gadget that prevents fires caused by gas-fired water heaters to its product line, it was an example of an increase in product-line depth.

The Field of Marketing

The Dynamic Marketing Environment

Global Markets and Marketing

Consumer Markets and Buying Behavior

Business Markets and Buying Behavior

Marketing Research and Market Information

Product Planning and Development

Brands, Packaging, and Other Product Features

Services Marketing

Price Determination

Pricing Strategies

Channels of Distribution

Retailing

Wholesaling and Physical Distribution

Integrated Marketing Communications

Personal Selling and Sales Management

Advertising, Sales Promotion, and Public Relations

Strategic Marketing Planning

Marketing Implementation and Evaluation

Marketing and the Information Economy

Market Segmentation Targeting and Positioning

Filters