Question 1

Express warranties

Accepted Answer

A) provide a written statement of manufacturer liability. 
B) state the bounds of coverage and, more important, areas of noncoverage. 
C) have no limits of noncoverage. 
D) assign responsibility for product deficiencies to the manufacturer. 
E) assign responsibility for product deficiencies on misuse to the consumer. 
A) provide a written statement of manufacturer liability. 
B) state the bounds of coverage and, more important, areas of noncoverage. 
C) have no limits of noncoverage. 
D) assign responsibility for product deficiencies to the manufacturer. 
E) assign responsibility for product deficiencies on misuse to the consumer.

Question 2

The life cycle of a product depends on sales to

Accepted Answer

A) consumers. 
B) distributors. 
C) intermediaries. 
D) regulators. 
E) exporters. 
A) consumers. 
B) distributors. 
C) intermediaries. 
D) regulators. 
E) exporters.

Question 3

Products such as Yoplait's Go-GURT

Accepted Answer

A) perceptual benefits 
B) communication benefits 
C) functional benefits 
D) technology 
E) renewable resources 
A) perceptual benefits 
B) communication benefits 
C) functional benefits 
D) technology 
E) renewable resources

Question 4

Trading down refers to __________ when repositioning a product.

Accepted Answer

A) reducing the number of features, qualities, or price 
B) reducing the amount of product carried as inventory 
C) reducing the number of product items in a product line 
D) redirecting marketing resources from a "cash cow" target market to one that is not performing as well in the hopes of increasing sales and profits 
E) encouraging consumers through the use of coupons and deals to purchase a firm's lower-priced products 
A) reducing the number of features, qualities, or price 
B) reducing the amount of product carried as inventory 
C) reducing the number of product items in a product line 
D) redirecting marketing resources from a "cash cow" target market to one that is not performing as well in the hopes of increasing sales and profits 
E) encouraging consumers through the use of coupons and deals to purchase a firm's lower-priced products

Question 5

A strategy of harvesting may be employed in the decline stage of a product life to

Accepted Answer

A) maintain primary demand for a product category. 
B) acquire as many new customers as possible. 
C) maintain the ability to meet ongoing customers' requests. 
D) eliminate all production costs. 
E) reposition the product. 
A) maintain primary demand for a product category. 
B) acquire as many new customers as possible. 
C) maintain the ability to meet ongoing customers' requests. 
D) eliminate all production costs. 
E) reposition the product.

Question 6

When most consumers who would buy a product are either repeat purchasers of the item or have tried and abandoned it, what stage of the product life cycle is the product in?

Accepted Answer

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

Question 7

All of the following are product modification strategies except

Accepted Answer

A) product bundling. 
B) improving a product's quality. 
C) changing a product's appearance. 
D) creating a new use situation. 
E) altering a product's performance. 
A) product bundling. 
B) improving a product's quality. 
C) changing a product's appearance. 
D) creating a new use situation. 
E) altering a product's performance.

Question 8

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

Accepted Answer

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

Question 9

The communication aspect of packaging on a can of Campbell's soup would most likely be of the greatest benefit to

Accepted Answer

A) people in a hurry to get to work. 
B) people on a tight budget. 
C) people with dietary restrictions. 
D) people who are brand loyal. 
E) people who love to try new things. 
A) people in a hurry to get to work. 
B) people on a tight budget. 
C) people with dietary restrictions. 
D) people who are brand loyal. 
E) people who love to try new things.

Question 10

A __________ is a brand strategy designed to counteract or confront competitors' brands.

Accepted Answer

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

Question 11

Twenty years ago, the Mississippi Gulf Coast was a nice place to vacation with a white sandy beach, golfing opportunities, resort hotels, and good seafood restaurants. With the addition of casinos, the Gulf Coast improved its odds of being a tourist destination for more travelers. This is an example of a __________ strategy.

Accepted Answer

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

Question 12

The four steps in the sequential process of building the brand equity pyramid are: (1) developing positive brand awareness; (2) __________; (3) eliciting the proper consumer responses to a brand's identity and meaning; and (4) creating an intense, active, and loyal consumer-brand connection.

Accepted Answer

A) easing consumers' decision making 
B) forming a brand personality 
C) rewarding loyal customer behavior 
D) establishing a brand's meaning in the minds of consumers 
E) developing brand licensing criteria 
A) easing consumers' decision making 
B) forming a brand personality 
C) rewarding loyal customer behavior 
D) establishing a brand's meaning in the minds of consumers 
E) developing brand licensing criteria

Question 13

A __________ product is a style of the times.

Accepted Answer

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

Question 14

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 15

Secret deodorant maintains its leadership position as one of many products in what is typically considered a __________ product category.

Accepted Answer

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

Question 16

All electric-powered automobiles such as the Chevy Spark are in which stage of their product life cycle?

Accepted Answer

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

Question 17

Warranties, money-back guarantees, extensive usage instructions, demonstrations, and free samples are all ways in which companies attempt to overcome barriers to product adoption during the __________ stage of a product's life cycle.

Accepted Answer

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

Question 18

Products that are introduced, decline, and seem to return are characteristic of the __________ type of product life cycle.

Accepted Answer

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

Question 19

A concept that describes the stages a product goes through in the marketplace-introduction, growth, maturity, and decline-is referred to as the

Accepted Answer

A) retail life cycle. 
B) product life cycle. 
C) marketing mix. 
D) product growth cycle. 
E) diffusion of product innovation. 
A) retail life cycle. 
B) product life cycle. 
C) marketing mix. 
D) product growth cycle. 
E) diffusion of product innovation.

Question 20

Consider the four steps in the sequential process of building brand equity. The third step is to elicit the proper consumer responses to a brand's identity and meaning. This step consists of two dimensions,

Accepted Answer

A) brand identity and brand emotion. 
B) brand performance and brand imagery. 
C) consumer judgments and consumer feelings. 
D) brand awareness and consumer-brand connection. 
E) consumer feelings and brand imagery. 
A) brand identity and brand emotion. 
B) brand performance and brand imagery. 
C) consumer judgments and consumer feelings. 
D) brand awareness and consumer-brand connection. 
E) consumer feelings and brand imagery.

Exam 11: Managing Successful Products Services and Brands

Express warranties

The life cycle of a product depends on sales to

Products such as Yoplait's Go-GURT

Trading down refers to __________ when repositioning a product.

A strategy of harvesting may be employed in the decline stage of a product life to

When most consumers who would buy a product are either repeat purchasers of the item or have tried and abandoned it, what stage of the product life cycle is the product in?

All of the following are product modification strategies except

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

The communication aspect of packaging on a can of Campbell's soup would most likely be of the greatest benefit to

A __________ is a brand strategy designed to counteract or confront competitors' brands.

The four steps in the sequential process of building the brand equity pyramid are: (1) developing positive brand awareness; (2) __________; (3) eliciting the proper consumer responses to a brand's identity and meaning; and (4) creating an intense, active, and loyal consumer-brand connection.

A __________ product is a style of the times.

The formula __________ is used to calculate BDI.

Secret deodorant maintains its leadership position as one of many products in what is typically considered a __________ product category.

All electric-powered automobiles such as the Chevy Spark are in which stage of their product life cycle?

Warranties, money-back guarantees, extensive usage instructions, demonstrations, and free samples are all ways in which companies attempt to overcome barriers to product adoption during the __________ stage of a product's life cycle.

Products that are introduced, decline, and seem to return are characteristic of the __________ type of product life cycle.

A concept that describes the stages a product goes through in the marketplace-introduction, growth, maturity, and decline-is referred to as the

Consider the four steps in the sequential process of building brand equity. The third step is to elicit the proper consumer responses to a brand's identity and meaning. This step consists of two dimensions,

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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