Exam 13: Developing and Managing Brand and Product Categories

The market shares for generic products increase during economic downturns but subside when the economy improves.

The ______________ has the authority to recall products or ban products without a court hearing,but doesn't have jurisdiction over food products.​

Ramon is a sales representative for a medical device company and works with orthopedic surgeons.During his discussions with surgeons about their work and the type of tools or devices that would help them perform better,he began to receive several interesting suggestions that Ramon passed along to the new product development team.What stage in the new-product development process does this represent?

_____ have profit responsibility for their product group and help retailers in maximizing the sales for the whole group of products not just the particular manufacturer's product.

A product diversification strategy focuses on developing entirely new products for new markets.

Some firms register a brand name before they have manufactured the product in order to prevent competitors from using the name.

An excellent brand name or symbol in one country may prove disastrous in another.

List out the characteristics of product innovation that influence its adoption rate.

With reference to the five characteristics of a product innovation,a product innovation is said to have a greater _____,if it is superior to previous ideas reflected in terms of lower price,physical improvements,or ease of use.

Makers of generic products are dependent on brand loyalty for their marketing success.

Once consumers have used a product,seen it advertised,or noticed it in a store,it moves from the unknown to the known category,which increases the probability that they will purchase it.

A product development strategy might include flanker brands that are introduced into the market to increase the overall market share of the company.

Firms may also choose to introduce new products into markets in which they have already established positions to try to increase overall market share.These new offerings are called _____ brands.

Match each item with the correct statement below. -The term _____ refers to the visual components that contribute to the overall look of a brand.

A rise in perceived quality or public opinion about a brand enhances the brand's esteem.

The Gillette Company has a long history of developing shaving-related products for men and women.In addition,it continuously produces products that feature improvements to existing technologies,including three-bladed disposable razors and ergonomically superior handle designs. ​ ​To maintain its success in new product development,Gillette regularly organizes several small focus groups comprising people who shave in order to gain insights into what these individuals look for in a razor/blades/shaving system.At which step of the new-product development process is Gillette when it conducts these focus groups?

Which of the following is a method for subjecting a product idea to additional study before actual development by involving consumers through focus groups,surveys,in-store polling,and similar strategies?

Family brands are the most effective aids in implementing market segmentation strategies.

A product is generally regarded as a global brand if:

A company has introduced a new product in the market.The company distributes free samples of this product to people so that they can try it.This product is at the _____ stage of brand loyalty.