Question 1

Trademark refers to

Accepted Answer

A) any word, device (design, sound, shape or color), or combination of these used to distinguish a seller's products or services. 
B) the part of a brand that can be spoken. 
C) the part of a brand that is a symbol or design and cannot be vocalized. 
D) the commercial, legal name under which a company does business. 
E) the identification that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it. 
A) any word, device (design, sound, shape or color), or combination of these used to distinguish a seller's products or services. 
B) the part of a brand that can be spoken. 
C) the part of a brand that is a symbol or design and cannot be vocalized. 
D) the commercial, legal name under which a company does business. 
E) the identification that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it.

Question 2

Three important aspects of product life cycles are: (1) their length, (2) the shape of their sales curves, and (3) the rate at which

Accepted Answer

A) consumers recognize products. 
B) consumers adopt products. 
C) consumers abandon products. 
D) competitors create "me too" products. 
E) environmental forces affect products. 
A) consumers recognize products. 
B) consumers adopt products. 
C) consumers abandon products. 
D) competitors create "me too" products. 
E) environmental forces affect products.

Question 3

In which stage of the product life cycle is it important to broaden distribution of the product?

Accepted Answer

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

Question 4

The 3D OLED (organic light-emitting diode) HDTVs, such as the 55-inch model from LG Electronics that in 2015 cost about $10,000, were in which stage of their product life cycle?

Accepted Answer

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

Question 5

Customer value can assume numerous forms. For Pez Candy, Inc., customer value manifests itself in the form of

Accepted Answer

A) an upbeat jingle. 
B) character candy dispensers. 
C) a stylish logotype. 
D) sour taste. 
E) sugar coating. 
A) an upbeat jingle. 
B) character candy dispensers. 
C) a stylish logotype. 
D) sour taste. 
E) sugar coating.

Question 6

Identify and describe the stages of the generalized product life cycle. For each stage, specify the marketing objective a firm should attempt to achieve.

Accepted Answer

There are four stages of the generalized

Question 7

A manufacturer's branding strategy in which a distinct brand name is given to each of its products is referred to as

Accepted Answer

A) multiproduct branding. 
B) generic branding. 
C) product differentiation branding. 
D) mixed branding. 
E) multibranding. 
A) multiproduct branding. 
B) generic branding. 
C) product differentiation branding. 
D) mixed branding. 
E) multibranding.

Question 8

How long is a product life cycle? What determines its length?

Accepted Answer

There is no set time that a product take

Question 9

Promotional expenses at the maturity stage of the product life cycle are often designed to

Accepted Answer

A) convince those who have abandoned the brand to try it again. 
B) maintain market share. 
C) create a sense of nostalgia. 
D) attract more price-conscious consumers. 
E) thwart the growing number of competitors that have entered the market. 
A) convince those who have abandoned the brand to try it again. 
B) maintain market share. 
C) create a sense of nostalgia. 
D) attract more price-conscious consumers. 
E) thwart the growing number of competitors that have entered the market.

Question 10

The marketing objective for a product in the __________ stage of the product life cycle is to create consumer awareness and stimulate trial.

Accepted Answer

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

Question 11

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

Accepted Answer

A) harvesting 
B) market share 
C) stress differentiation 
D) maintain brand loyalty 
E) gain awareness 
A) harvesting 
B) market share 
C) stress differentiation 
D) maintain brand loyalty 
E) gain awareness

Question 12

What is the difference between multiproduct branding and multibrand strategies? What advantages are offered by each of these two approaches?

Accepted Answer

The manufacturer may use either a multip

Question 13

Reducing the number of features, qualities, or price when repositioning a product is referred to as

Accepted Answer

A) product paring. 
B) down trading. 
C) product deflation. 
D) trading down. 
E) product simplification. 
A) product paring. 
B) down trading. 
C) product deflation. 
D) trading down. 
E) product simplification.

Question 14

The desire for a product class rather than for a specific brand is called __________ demand.

Accepted Answer

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

Question 15

Pez was originally sold in Europe as __________ in plain headless dispensers. The product got its name from the German word pfefferminz, which means peppermint.

Accepted Answer

A) chewing gum 
B) a breath mint 
C) an antacid 
D) a pain reliever 
E) candy 
A) chewing gum 
B) a breath mint 
C) an antacid 
D) a pain reliever 
E) candy

Question 16

New Balance, Inc., successfully repositioned its athletic shoes to focus on fit, durability, and comfort rather than on going head-on against Nike and Adidas on fashion and professional sports. This product repositioning strategy was designed to

Accepted Answer

A) react to a competitor's position. 
B) reach a new target market segment. 
C) catch a rising trend. 
D) change the value offered to its customers. 
E) accommodate its target audience preference for comfortable sneakers. 
A) react to a competitor's position. 
B) reach a new target market segment. 
C) catch a rising trend. 
D) change the value offered to its customers. 
E) accommodate its target audience preference for comfortable sneakers.

Question 17

Even though Liquid Paper correction fluid is in the __________ stage of its product life cycle, Sanford, its manufacturer, has not deleted it from its line because there is still a residual core of consumers who use the product.

Accepted Answer

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

Question 18

Companies can choose from several different branding strategies. Companies such as Sears, with brands its Kenmore appliances and Craftsman tools, are using a __________ strategy.

Accepted Answer

A) retailer branding 
B) multiproduct branding 
C) multibranding 
D) private branding 
E) mixed branding 
A) retailer branding 
B) multiproduct branding 
C) multibranding 
D) private branding 
E) mixed branding

Question 19

In terms of the diffusion of innovation, laggards account 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 20

As more competitors launch their own products and the product progresses along its life cycle, company attention is focused on creating __________ demand, or the preference for a specific brand.

Accepted Answer

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

Exam 11: Managing Successful Products Services and Brands

Trademark refers to

Three important aspects of product life cycles are: (1) their length, (2) the shape of their sales curves, and (3) the rate at which

In which stage of the product life cycle is it important to broaden distribution of the product?

The 3D OLED (organic light-emitting diode) HDTVs, such as the 55-inch model from LG Electronics that in 2015 cost about $10,000, were in which stage of their product life cycle?

Customer value can assume numerous forms. For Pez Candy, Inc., customer value manifests itself in the form of

Identify and describe the stages of the generalized product life cycle. For each stage, specify the marketing objective a firm should attempt to achieve.

A manufacturer's branding strategy in which a distinct brand name is given to each of its products is referred to as

How long is a product life cycle? What determines its length?

Promotional expenses at the maturity stage of the product life cycle are often designed to

The marketing objective for a product in the __________ stage of the product life cycle is to create consumer awareness and stimulate trial.

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

What is the difference between multiproduct branding and multibrand strategies? What advantages are offered by each of these two approaches?

Reducing the number of features, qualities, or price when repositioning a product is referred to as

The desire for a product class rather than for a specific brand is called __________ demand.

Pez was originally sold in Europe as __________ in plain headless dispensers. The product got its name from the German word pfefferminz, which means peppermint.

New Balance, Inc., successfully repositioned its athletic shoes to focus on fit, durability, and comfort rather than on going head-on against Nike and Adidas on fashion and professional sports. This product repositioning strategy was designed to

Even though Liquid Paper correction fluid is in the __________ stage of its product life cycle, Sanford, its manufacturer, has not deleted it from its line because there is still a residual core of consumers who use the product.

Companies can choose from several different branding strategies. Companies such as Sears, with brands its Kenmore appliances and Craftsman tools, are using a __________ strategy.

In terms of the diffusion of innovation, laggards account for __________ percent of product adopters.

As more competitors launch their own products and the product progresses along its life cycle, company attention is focused on creating __________ demand, or the preference for a specific brand.

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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