Question 1

The third step in the sequential process of building brand equity is to

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 2

Describe the concept of diffusion of innovation. Identify the category and incidence in the population for each product adopter.

Accepted Answer

The diffusion of innovation is the exten

Question 3

Product form refers to

Accepted Answer

A) a distinctive shape of a product life cycle. 
B) similarities within the product category. 
C) variations within the product class. 
D) variations from product lines in a product mix. 
E) shared characteristics within the product class. 
A) a distinctive shape of a product life cycle. 
B) similarities within the product category. 
C) variations within the product class. 
D) variations from product lines in a product mix. 
E) shared characteristics within the product class.

Question 4

Warranties that specifically state the bounds of coverage and, more important, areas of noncoverage are referred to as __________ warranties.

Accepted Answer

A) express 
B) functional 
C) explicit 
D) limited-coverage 
E) implied 
A) express 
B) functional 
C) explicit 
D) limited-coverage 
E) implied

Question 5

Which of the following is a characteristic of the growth stage of the product life cycle?

Accepted Answer

A) Advertising emphasis switches to selective demand. 
B) A growing proportion of trial purchases come from brand loyal users. 
C) Product features remain unchanged. 
D) Profit margins increase as sales increase. 
E) The product is sold in a narrowly selected number of retail outlets. 
A) Advertising emphasis switches to selective demand. 
B) A growing proportion of trial purchases come from brand loyal users. 
C) Product features remain unchanged. 
D) Profit margins increase as sales increase. 
E) The product is sold in a narrowly selected number of retail outlets.

Question 6

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

Accepted Answer

A) it capitalizes on the price insensitivity of early buyers. 
B) its profit margins may be high. 
C) it encourages "me too" entrants into the market. 
D) it recovers 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) its profit margins may be high. 
C) it encourages "me too" entrants into the market. 
D) it recovers the R&D costs of the new offering. 
E) it helps build unit volume.

Question 7

Market modification refers to a marketing strategy that

Accepted Answer

A) alters a product's characteristic, such as its quality, performance, or appearance, to increase its value to customers and to increase sales. 
B) manages a product's life cycle to find new customers, increase a product's use among existing customers, or create new use situations. 
C) tries to find new customers and convince users who abandoned the product to purchase again. 
D) drops the lowest producing market segment and replaces it with an entirely new one. 
E) combines the two lowest producing market segments to achieve marketing economies of scale. 
A) alters a product's characteristic, such as its quality, performance, or appearance, to increase its value to customers and to increase sales. 
B) manages a product's life cycle to find new customers, increase a product's use among existing customers, or create new use situations. 
C) tries to find new customers and convince users who abandoned the product to purchase again. 
D) drops the lowest producing market segment and replaces it with an entirely new one. 
E) combines the two lowest producing market segments to achieve marketing economies of scale.

Question 8

The 3M Co. is a master of the __________ pricing strategy. According to a 3M manager, "We hit fast, price high, and get the heck out when the me-too products pour in."

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 9

Changing the place a product occupies in a consumer's mind relative to competitive products is referred to as

Accepted Answer

A) market modification. 
B) product modification. 
C) product repositioning. 
D) product positioning. 
E) perceptual mapping. 
A) market modification. 
B) product modification. 
C) product repositioning. 
D) product positioning. 
E) perceptual mapping.

Question 10

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 11

A written statement of manufacturer liability is referred to as __________ warranty.

Accepted Answer

A) an explicit 
B) a functional 
C) an implied 
D) a strict-liability 
E) an express 
A) an explicit 
B) a functional 
C) an implied 
D) a strict-liability 
E) an express

Question 12

Gillette budgeted $200 million in advertising to introduce the Fusion razor to male shavers. Such expenditures are often made to stimulate primary demand, or desire for the product __________, rather than for a specific brand, when there are few competitors with the same product.

Accepted Answer

A) class 
B) form 
C) item 
D) mix 
E) concept 
A) class 
B) form 
C) item 
D) mix 
E) concept

Question 13

Which of the following is a characteristic of the growth stage of the product life cycle?

Accepted Answer

A) Advertising emphasis switches to primary demand. 
B) The proportion of initial purchasers to repeat purchasers grows. 
C) New or modified product features are added. 
D) Profit margins increase as sales increase. 
E) There are a limited number of retail outlets for greater quality control. 
A) Advertising emphasis switches to primary demand. 
B) The proportion of initial purchasers to repeat purchasers grows. 
C) New or modified product features are added. 
D) Profit margins increase as sales increase. 
E) There are a limited number of retail outlets for greater quality control.

Question 14

The launch by Gatorade of Gatorade Endurance Carb Energy Chews is evidence of

Accepted Answer

A) dynamic development. 
B) discontinuous development. 
C) product development. 
D) symbiotic development. 
E) simultaneous development. 
A) dynamic development. 
B) discontinuous development. 
C) product development. 
D) symbiotic development. 
E) simultaneous development.

Question 15

For consumers, the primary benefit of branding is that

Accepted Answer

A) products tend to be higher in quality. 
B) it helps consumers become more efficient shoppers. 
C) branded items are more readily available in retail outlets. 
D) branded items are usually more expensive because of the cost to register them with the Federal Trade Commission (FT
C) . 
E) they are often rewarded with buyer loyalty incentives. 
A) products tend to be higher in quality. 
B) it helps consumers become more efficient shoppers. 
C) branded items are more readily available in retail outlets. 
D) branded items are usually more expensive because of the cost to register them with the Federal Trade Commission (FT
C) . 
E) they are often rewarded with buyer loyalty incentives.

Question 16

The commercial, legal name under which a company does business is referred to as a

Accepted Answer

A) brand name. 
B) copyright. 
C) trademark. 
D) label. 
E) trade name. 
A) brand name. 
B) copyright. 
C) trademark. 
D) label. 
E) trade name.

Question 17

A product life cycle for which significant customer education is required and there is an extended introductory period is an example of a __________ product.

Accepted Answer

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

Question 18

As product adopters, laggards

Accepted Answer

A) have a fear of debt and use neighbors and friends as information sources. 
B) are skeptical and have below average social status. 
C) are deliberate and use many informal social contacts. 
D) are leaders in social settings and have a slightly above average education. 
E) are venturesome, highly educated, and use multiple information sources. 
A) have a fear of debt and use neighbors and friends as information sources. 
B) are skeptical and have below average social status. 
C) are deliberate and use many informal social contacts. 
D) are leaders in social settings and have a slightly above average education. 
E) are venturesome, highly educated, and use multiple information sources.

Question 19

When selecting a brand name, it should suggest the product benefits; be memorable, distinctive, and positive; fit the company or product image; be simple and emotional; __________; and have favorable phonetic and semantic associations in other languages.

Accepted Answer

A) be humorous or mysterious 
B) have no legal or regulatory restrictions 
C) be easy to spell and pronounce 
D) contain no hidden meanings 
E) suggest an air of mystery 
A) be humorous or mysterious 
B) have no legal or regulatory restrictions 
C) be easy to spell and pronounce 
D) contain no hidden meanings 
E) suggest an air of mystery

Question 20

There are four stages of the product life cycle. What does the fourth stage of the product life cycle represent?

Accepted Answer

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

Exam 11: Managing Successful Products Services and Brands

The third step in the sequential process of building brand equity is to

Describe the concept of diffusion of innovation. Identify the category and incidence in the population for each product adopter.

Product form refers to

Warranties that specifically state the bounds of coverage and, more important, areas of noncoverage are referred to as __________ warranties.

Which of the following is a characteristic of the growth stage of the product life cycle?

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

Market modification refers to a marketing strategy that

The 3M Co. is a master of the __________ pricing strategy. According to a 3M manager, "We hit fast, price high, and get the heck out when the me-too products pour in."

Changing the place a product occupies in a consumer's mind relative to competitive products is referred to as

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

A written statement of manufacturer liability is referred to as __________ warranty.

Gillette budgeted $200 million in advertising to introduce the Fusion razor to male shavers. Such expenditures are often made to stimulate primary demand, or desire for the product __________, rather than for a specific brand, when there are few competitors with the same product.

Which of the following is a characteristic of the growth stage of the product life cycle?

The launch by Gatorade of Gatorade Endurance Carb Energy Chews is evidence of

For consumers, the primary benefit of branding is that

The commercial, legal name under which a company does business is referred to as a

A product life cycle for which significant customer education is required and there is an extended introductory period is an example of a __________ product.

As product adopters, laggards

When selecting a brand name, it should suggest the product benefits; be memorable, distinctive, and positive; fit the company or product image; be simple and emotional; __________; and have favorable phonetic and semantic associations in other languages.

There are four stages of the product life cycle. What does the fourth stage of the product life cycle represent?

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 Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Financial Aspects of Marketing

Building an Effective Marketing Plan

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