Question 1

The __________ stage of the product life cycle occurs when a product is launched to its intended target market.

Accepted Answer

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

Question 2

Product 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 increase its use among existing customers, create new use situations, or find new customers. 
C) tries to find new customers and convince users who abandoned it to purchase again. 
D) drops the lowest producing market segment and replaces it with an entirely new one. 
E) combines the lowest producing market segment into others 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 increase its use among existing customers, create new use situations, or find new customers. 
C) tries to find new customers and convince users who abandoned it to purchase again. 
D) drops the lowest producing market segment and replaces it with an entirely new one. 
E) combines the lowest producing market segment into others to achieve marketing economies of scale.

Question 3

Multibranding refers to a branding strategy in which a firm

Accepted Answer

A) gives each product a distinct name when each brand is intended for a different market segment. 
B) uses different brand names for the same product across multiple countries. 
C) uses one name for all its products in a product class. 
D) produces products but sells them under the brand name of a wholesaler or retailer. 
E) contractually, and for a fee, allows other firms to use its brand name, requiring that the product be made to its specifications. 
A) gives each product a distinct name when each brand is intended for a different market segment. 
B) uses different brand names for the same product across multiple countries. 
C) uses one name for all its products in a product class. 
D) produces products but sells them under the brand name of a wholesaler or retailer. 
E) contractually, and for a fee, allows other firms to use its brand name, requiring that the product be made to its specifications.

Question 4

When selecting a brand name, it should: (1) suggest the product benefits; (2) __________; (3) fit the company or product image; (4) have no legal or regulatory restrictions; (5) be simple and emotional; and (6) have favorable phonetic and semantic associations in other languages.

Accepted Answer

A) never have a humorous connotation 
B) be easy to spell and pronounce 
C) not be easily imitated 
D) be patented 
E) be memorable, distinctive, and positive 
A) never have a humorous connotation 
B) be easy to spell and pronounce 
C) not be easily imitated 
D) be patented 
E) be memorable, distinctive, and positive

Question 5

The second 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 6

There are four stages of the product life cycle. What does the first 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 7

For any product to be successful, it must be purchased by

Accepted Answer

A) early adopters and laggards. 
B) early majority and late majority. 
C) late majority and laggards. 
D) innovators and early majority. 
E) innovators and early adopters. 
A) early adopters and laggards. 
B) early majority and late majority. 
C) late majority and laggards. 
D) innovators and early majority. 
E) innovators and early adopters.

Question 8

Hillside coffee comes in single-serving, self-heating containers. Not only does this benefit people on the go, it is a popular product with people in areas prone to hurricanes or blizzards because they can still have hot coffee when there is no electricity. This demonstrates which benefit of good packaging?

Accepted Answer

A) communication benefit 
B) perceptual benefit 
C) financial benefit 
D) societal benefit 
E) functional benefit 
A) communication benefit 
B) perceptual benefit 
C) financial benefit 
D) societal benefit 
E) functional benefit

Question 9

Your product has been suffering from steadily eroding sales. You have tried a number of options to revitalize the product's sales and profits, but after seven changes in your strategy, you have yet to find success. Which of the following actions would be the least appropriate next step?

Accepted Answer

A) Delete the product from the line. 
B) Retain the product, but reduce its marketing costs. 
C) Stimulate primary demand. 
D) Stimulate selective demand. 
E) Rebrand the product. 
A) Delete the product from the line. 
B) Retain the product, but reduce its marketing costs. 
C) Stimulate primary demand. 
D) Stimulate selective demand. 
E) Rebrand the product.

Question 10

Xerox pioneered the first portable fax machine. In 1980, the price was $12,700. Xerox used __________ pricing strategy to help recover its research and development costs.

Accepted Answer

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

Question 11

The concept of the diffusion of innovation shows how a product "diffuses" or spreads through the population over time. The consumer population is divided into five categories of product adopters based on when they adopt (i.e., first buy) a new product. Each product adopter category has a unique profile. Consumers who are deliberate adopters with many informal social contacts are called

Accepted Answer

A) innovators. 
B) early adopters. 
C) early majority. 
D) late majority. 
E) laggards. 
A) innovators. 
B) early adopters. 
C) early majority. 
D) late majority. 
E) laggards.

Question 12

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

Accepted Answer

A) secondary demand 
B) introductory demand 
C) primary demand 
D) discretionary demand 
E) selective demand 
A) secondary demand 
B) introductory demand 
C) primary demand 
D) discretionary demand 
E) selective demand

Question 13

For more than 30 years, Starkist put 6.5 ounces of tuna into its regular-sized can. Today, Starkist puts only 6.125 ounces of tuna into the same-size can but charges the same price. Georgia-Pacific reduced the content of its Brawny paper towel six-roll pack by 20 percent without lowering the price. There are two sides to the ethical argument about this practice: that of consumer advocates and that of manufacturers. What is the practice called and what is the basic position of each side?

Accepted Answer

The practice is called downsizing, which

Question 14

Identify and describe the four branding strategies that product and brand managers use.

Accepted Answer

Product and brand managers use the follo

Question 15

Brand personality refers to

Accepted Answer

A) the personification of a brand in terms of its benefits. 
B) a brand name that cannot be spoken. 
C) a set of human characteristics associated with a brand name. 
D) the added value a brand name gives to a product beyond the functional benefits provided. 
E) the embedded association between a company spokesman or paid celebrity and the product itself. 
A) the personification of a brand in terms of its benefits. 
B) a brand name that cannot be spoken. 
C) a set of human characteristics associated with a brand name. 
D) the added value a brand name gives to a product beyond the functional benefits provided. 
E) the embedded association between a company spokesman or paid celebrity and the product itself.

Question 16

An implied warranty

Accepted Answer

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

Question 17

During the introduction stage of the product life cycle, __________ pricing strategy may be used. This pricing strategy charges a high initial price to recoup the costs of product development.

Accepted Answer

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

Question 18

For years, when most consumers thought of cranberries, they thought of the Ocean Spray brand. Then Northland-branded cranberry juice came on the market, claiming that it was superior to the Ocean Spray brand. Northland was creating __________ demand.

Accepted Answer

A) primary 
B) derived 
C) generic 
D) selective 
E) secondary 
A) primary 
B) derived 
C) generic 
D) selective 
E) secondary

Question 19

What is the marketing objective for the decline stage of the product life cycle?

Accepted Answer

A) harvesting 
B) add outlets 
C) stress differentiation 
D) gain awareness 
E) maintain brand loyalty 
A) harvesting 
B) add outlets 
C) stress differentiation 
D) gain awareness 
E) maintain brand loyalty

Question 20

The "Mean Stinks" ignition was designed to primarily reach which segment of prospective customers?

Accepted Answer

A) baby boomer women 
B) teen girls 
C) Gen X girls 
D) Gen Y boys 
E) teen boys 
A) baby boomer women 
B) teen girls 
C) Gen X girls 
D) Gen Y boys 
E) teen boys

Exam 11: Managing Successful Products Services and Brands

The __________ stage of the product life cycle occurs when a product is launched to its intended target market.

Product modification refers to a marketing strategy that

Multibranding refers to a branding strategy in which a firm

When selecting a brand name, it should: (1) suggest the product benefits; (2) __________; (3) fit the company or product image; (4) have no legal or regulatory restrictions; (5) be simple and emotional; and (6) have favorable phonetic and semantic associations in other languages.

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

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

For any product to be successful, it must be purchased by

Your product has been suffering from steadily eroding sales. You have tried a number of options to revitalize the product's sales and profits, but after seven changes in your strategy, you have yet to find success. Which of the following actions would be the least appropriate next step?

Xerox pioneered the first portable fax machine. In 1980, the price was $12,700. Xerox used __________ pricing strategy to help recover its research and development costs.

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

Identify and describe the four branding strategies that product and brand managers use.

Brand personality refers to

An implied warranty

During the introduction stage of the product life cycle, __________ pricing strategy may be used. This pricing strategy charges a high initial price to recoup the costs of product development.

For years, when most consumers thought of cranberries, they thought of the Ocean Spray brand. Then Northland-branded cranberry juice came on the market, claiming that it was superior to the Ocean Spray brand. Northland was creating __________ demand.

What is the marketing objective for the decline stage of the product life cycle?

The "Mean Stinks" ignition was designed to primarily reach which segment of prospective customers?

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

Filters