Question 1

Which of the following quotes from a new-product adopter would signal the need for a firm to counteract a psychological barrier?

Accepted Answer

A) "But it might make me fat." 
B) "What if I can't make the monthly payments?" 
C) "I don't want to try this if it means I have to swallow it with milk." 
D) "Big deal, the only difference is the shape of the package." 
E) "Sure I'll try it; why not!" 
A) "But it might make me fat." 
B) "What if I can't make the monthly payments?" 
C) "I don't want to try this if it means I have to swallow it with milk." 
D) "Big deal, the only difference is the shape of the package." 
E) "Sure I'll try it; why not!"

Question 2

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. The two indexes, CDI and BDI, stand for

Accepted Answer

A) comprehensive demographic inventory and brand designation information. 
B) consumer demographic index and buyer demographic inventory. 
C) category development index and brand development index. 
D) consumer development index and brand development inventory. 
E) category development index and buyer development inventory. 
A) comprehensive demographic inventory and brand designation information. 
B) consumer demographic index and buyer demographic inventory. 
C) category development index and brand development index. 
D) consumer development index and brand development inventory. 
E) category development index and buyer development inventory.

Question 3

Products tend to consume a disproportionate share of management and financial resources relative to their future worth throughout which stage of the product life cycle?

Accepted Answer

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

Question 4

Which of the following statements about product line extensions is most accurate?

Accepted Answer

A) A product line extension strategy typically leads to increased advertising costs. 
B) There are no risks associated with a product line extension strategy. 
C) When the Clorox Co. joins with Kroger supermarkets to advertise Clorox products in a local newspaper, it is engaged in a product line extension. 
D) A product line extension is a form of multiproduct branding. 
E) A product line extension is a form of multibranding. 
A) A product line extension strategy typically leads to increased advertising costs. 
B) There are no risks associated with a product line extension strategy. 
C) When the Clorox Co. joins with Kroger supermarkets to advertise Clorox products in a local newspaper, it is engaged in a product line extension. 
D) A product line extension is a form of multiproduct branding. 
E) A product line extension is a form of multibranding.

Question 5

When consumers think of Harley-Davidson, the image is of a masculine, nonconformist. With Vespa motor scooters, the image is of a brainy environmentalist. Both Vespa and Harley-Davidson

Accepted Answer

A) have brand personalities. 
B) avoid brand subcultures. 
C) are logotypes. 
D) use co-branding. 
E) use product personification. 
A) have brand personalities. 
B) avoid brand subcultures. 
C) are logotypes. 
D) use co-branding. 
E) use product personification.

Question 6

Which of the following is a product modification strategy?

Accepted Answer

A) creating new advertising for a product 
B) improving a product's quality 
C) finding a new target market for a product 
D) creating a new use situation for a product 
E) altering a product's distribution 
A) creating new advertising for a product 
B) improving a product's quality 
C) finding a new target market for a product 
D) creating a new use situation for a product 
E) altering a product's distribution

Question 7

Xunrui Communications is an upstart maker of inexpensive smartphones for the Chinese market. Xunrui purchases the components for the items, which are then sent to small assembly factories in Shenzhen, located in southern China. These smartphones retail for about $65, significantly less than the $250 to $600 for smartphones marketed by Apple or Samsung, the top two marketers of these items. Xunrui Communications most likely is using which pricing strategy in this example?

Accepted Answer

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

Question 8

The initial purchase of a product by a consumer is referred to as

Accepted Answer

A) a product sampling. 
B) a first buy. 
C) a trial. 
D) an assessment. 
E) an examination period. 
A) a product sampling. 
B) a first buy. 
C) a trial. 
D) an assessment. 
E) an examination period.

Question 9

Directions on how and when to use a product and information about the source and composition of a product that appear on packaging labels provide what kind of benefits?

Accepted Answer

A) communication benefits 
B) storage benefits 
C) perceptual benefits 
D) protection benefits 
E) self-realization benefits 
A) communication benefits 
B) storage benefits 
C) perceptual benefits 
D) protection benefits 
E) self-realization benefits

Question 10

A product in the introduction stage of its product life cycle should have which of the following marketing objective(s)?

Accepted Answer

A) stress differentiation 
B) gain awareness and stimulate trial 
C) foster brand loyalty 
D) gain as much distribution as possible 
E) target a marketing niche 
A) stress differentiation 
B) gain awareness and stimulate trial 
C) foster brand loyalty 
D) gain as much distribution as possible 
E) target a marketing niche

Question 11

All of the following are market modification strategies except

Accepted Answer

A) creating a new use situation. 
B) finding new customers. 
C) changing a product's appearance. 
D) targeting new market segments. 
E) increasing a product's use among existing customers. 
A) creating a new use situation. 
B) finding new customers. 
C) changing a product's appearance. 
D) targeting new market segments. 
E) increasing a product's use among existing customers.

Question 12

There are four stages of the product life cycle. What does the second 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

Question 13

Which of the following statements regarding labels is most accurate?

Accepted Answer

A) Although labels are can carry useful information, the less information communicated, the better. 
B) The brand logo or brand name should always be the largest image on a label. 
C) Labels can be very expensive, but they are important because they often are the first contact the consumer has with the product. 
D) The best labels to use on food products are those that can be easily removed to promote recycling of the package. 
E) One penny for every dollar consumers spend on products goes toward packaging and labeling costs. 
A) Although labels are can carry useful information, the less information communicated, the better. 
B) The brand logo or brand name should always be the largest image on a label. 
C) Labels can be very expensive, but they are important because they often are the first contact the consumer has with the product. 
D) The best labels to use on food products are those that can be easily removed to promote recycling of the package. 
E) One penny for every dollar consumers spend on products goes toward packaging and labeling costs.

Question 14

Which of the following quotes from a new-product adopter would signal the need for a firm to counteract a value barrier?

Accepted Answer

A) "But it might make me fat." 
B) "What if I can't make the monthly payments?" 
C) "I don't want to try this if it means I have to swallow it with milk." 
D) "Big deal, the only difference is the shape of the package." 
E) "Sure I'll try it; why not!" 
A) "But it might make me fat." 
B) "What if I can't make the monthly payments?" 
C) "I don't want to try this if it means I have to swallow it with milk." 
D) "Big deal, the only difference is the shape of the package." 
E) "Sure I'll try it; why not!"

Question 15

Imagine that Eveready has developed solar rechargeable batteries that cost only slightly more to produce than the rechargeable batteries currently available. These solar batteries can be recharged by sunlight up to five times, after which they are to be discarded. Unfortunately, the production process cannot be patented, so competitors could enter the market within a year. Which of the following is the best description of the product life cycle of this product?

Accepted Answer

A) rapid growth followed by rapid decline 
B) long, level beginning, and rapid ascent 
C) moderately slow introduction, followed by modest growth, gradually leveling off 
D) high introductory sales followed by rapid decline 
E) high initial sales followed by slow decline 
A) rapid growth followed by rapid decline 
B) long, level beginning, and rapid ascent 
C) moderately slow introduction, followed by modest growth, gradually leveling off 
D) high introductory sales followed by rapid decline 
E) high initial sales followed by slow decline

Question 16

According to the textbook, which of the following is the most counterfeited branded product?

Accepted Answer

A) shoes 
B) watches and jewelry 
C) handbags and wallets 
D) clothing and accessories 
E) consumer electronics 
A) shoes 
B) watches and jewelry 
C) handbags and wallets 
D) clothing and accessories 
E) consumer electronics

Question 17

In terms of the diffusion of innovation, late majority accounts for __________ percent of product adopters.

Accepted Answer

A) 2.5 
B) 13.5 
C) 16 
D) 34 
E) 50 
A) 2.5 
B) 13.5 
C) 16 
D) 34 
E) 50

Question 18

The primary purpose of a trademark is to

Accepted Answer

A) legally protect a product's brand name or trade name and prevent others from using it. 
B) allow a company to use the brand name on multiple products in its product line. 
C) legally identify the product as having met government standards for its product item. 
D) help consumers identify a genuine product from a counterfeit product. 
E) capitalize on the brand equity a consumer associates with the symbol, sound, or image. 
A) legally protect a product's brand name or trade name and prevent others from using it. 
B) allow a company to use the brand name on multiple products in its product line. 
C) legally identify the product as having met government standards for its product item. 
D) help consumers identify a genuine product from a counterfeit product. 
E) capitalize on the brand equity a consumer associates with the symbol, sound, or image.

Question 19

The Reynolds Wrap aluminum foil box has two side tabs that say "Press Here to Lock Roll" to keep the roll of foil in place during use. This demonstrates which elements of good packaging?

Accepted Answer

A) perceptual benefits and functional benefits 
B) protection benefits and functional benefits 
C) communication benefits and perceptual benefits 
D) communication benefits and functional benefits 
E) functional benefits and protection benefits 
A) perceptual benefits and functional benefits 
B) protection benefits and functional benefits 
C) communication benefits and perceptual benefits 
D) communication benefits and functional benefits 
E) functional benefits and protection benefits

Question 20

The central element of the marketing strategy for Pez Candy, Inc., is the

Accepted Answer

A) price. 
B) breath mint. 
C) availability. 
D) container. 
E) fulfillment. 
A) price. 
B) breath mint. 
C) availability. 
D) container. 
E) fulfillment.

Exam 11: Managing Successful Products Services and Brands

Which of the following quotes from a new-product adopter would signal the need for a firm to counteract a psychological barrier?

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. The two indexes, CDI and BDI, stand for

Products tend to consume a disproportionate share of management and financial resources relative to their future worth throughout which stage of the product life cycle?

Which of the following statements about product line extensions is most accurate?

When consumers think of Harley-Davidson, the image is of a masculine, nonconformist. With Vespa motor scooters, the image is of a brainy environmentalist. Both Vespa and Harley-Davidson

Which of the following is a product modification strategy?

The initial purchase of a product by a consumer is referred to as

Directions on how and when to use a product and information about the source and composition of a product that appear on packaging labels provide what kind of benefits?

A product in the introduction stage of its product life cycle should have which of the following marketing objective(s)?

All of the following are market modification strategies except

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

Which of the following statements regarding labels is most accurate?

Which of the following quotes from a new-product adopter would signal the need for a firm to counteract a value barrier?

According to the textbook, which of the following is the most counterfeited branded product?

In terms of the diffusion of innovation, late majority accounts for __________ percent of product adopters.

The primary purpose of a trademark is to

The Reynolds Wrap aluminum foil box has two side tabs that say "Press Here to Lock Roll" to keep the roll of foil in place during use. This demonstrates which elements of good packaging?

The central element of the marketing strategy for Pez Candy, Inc., is the

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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