Question 1

Which stage in the product life cycle is characterized by a slowing of total industry sales or product class revenue?

Accepted Answer

A) introduction 
B) growth 
C) maturity 
D) decline 
E) decelerated implementation 
A) introduction 
B) growth 
C) maturity 
D) decline 
E) decelerated implementation

Question 2

Describe the decline stage of the product life cycle.Explain the two strategies a company might employ if its product were in the decline stage of its product life cycle.

Accepted Answer

The decline stage occurs when sales drop

Question 3

To counteract counterfeiting,the U.S.government passed the __________ in 2006.

Accepted Answer

A) Counterfeiting Prohibition Act 
B) Counterfeiting and Industrial Espionage Act 
C) Stop Counterfeiting Act 
D) Stop Counterfeiting in Manufactured Goods Act 
E) Unauthorized Manufacturing and Copyright Act 
A) Counterfeiting Prohibition Act 
B) Counterfeiting and Industrial Espionage Act 
C) Stop Counterfeiting Act 
D) Stop Counterfeiting in Manufactured Goods Act 
E) Unauthorized Manufacturing and Copyright Act

Question 4

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 5

When General Mills teams up with Hershey Foods to create a cereal called Reese's Peanut Butter Puffs (the Reese's brand belonging to Hershey's),what is the General Mills' branding strategy called?

Accepted Answer

A) manufacturer branding 
B) brand bundling 
C) mixed branding 
D) co-branding 
E) multibranding 
A) manufacturer branding 
B) brand bundling 
C) mixed branding 
D) co-branding 
E) multibranding

Question 6

Changes appearing in the product,characteristically take place in the __________ stage of the product life cycle.

Accepted Answer

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

Question 7

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 sell 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 sell 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 8

The product life cycle shown in "C" in Figure 11-3 above 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

Soft Drink Ad
-Why are warranties important from the perspectives of both consumers and manufacturers?

Accepted Answer

Warranties are important in light of inc

Question 10

Figure 11-4 above shows that in 2007,CDs were in which stage of the product life cycle?

Accepted Answer

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

Question 11

Figure 11-6 above shows the sequential process of building brand equity."F" represents the fourth and last step,which is to __________.

Accepted Answer

A) elicit the proper consumer responses to a brand's identity and meaning 
B) develop positive brand awareness 
C) reward loyal customer behavior 
D) establish a brand's meaning in the minds of consumers 
E) create a consumer-brand connection 
A) elicit the proper consumer responses to a brand's identity and meaning 
B) develop positive brand awareness 
C) reward loyal customer behavior 
D) establish a brand's meaning in the minds of consumers 
E) create a consumer-brand connection

Question 12

The classifications of innovators,early adopters,early majority,late majority,and laggards are all based upon __________.

Accepted Answer

A) how frequently a consumer uses a product 
B) the number and strength of competitors 
C) when consumers begin buying a new product 
D) the time it takes to educate a consumer in the use of a new technology 
E) how quickly consumers respond to an advertising message or campaign 
A) how frequently a consumer uses a product 
B) the number and strength of competitors 
C) when consumers begin buying a new product 
D) the time it takes to educate a consumer in the use of a new technology 
E) how quickly consumers respond to an advertising message or campaign

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 towards 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 towards packaging and labeling costs.

Question 14

Packaging that provides convenience,product quality,protection,or easy storage offers what kind of benefits?

Accepted Answer

A) communication benefits 
B) functional benefits 
C) perceptual benefits 
D) physiological benefits 
E) financial benefits 
A) communication benefits 
B) functional benefits 
C) perceptual benefits 
D) physiological benefits 
E) financial benefits

Question 15

A marketing strategy that alters a product's characteristic,such as its quality,performance,or appearance,to increase its value and sales to customers is referred to as __________.

Accepted Answer

A) market modification 
B) product modification 
C) product repositioning 
D) market-product synergy 
E) product management 
A) market modification 
B) product modification 
C) product repositioning 
D) market-product synergy 
E) product management

Question 16

Describe a brand name and explain how it is related to a logo.

Accepted Answer

A brand name is any word,device (design,

Question 17

A trade name 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 name that can be spoken. 
C) the legally registered brand name of a firm's product or service that give it exclusive use,thereby preventing competitors from using it. 
D) the commercial,legal name under which a company does business. 
E) a logotype plus the brand name. 
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 name that can be spoken. 
C) the legally registered brand name of a firm's product or service that give it exclusive use,thereby preventing competitors from using it. 
D) the commercial,legal name under which a company does business. 
E) a logotype plus the brand name.

Question 18

All of the following are factors triggering the need for product repositioning EXCEPT:

Accepted Answer

A) creating a new use situation. 
B) reaching a new market. 
C) catching a rising trend. 
D) changing the value offered. 
E) reacting to a competitor's position. 
A) creating a new use situation. 
B) reaching a new market. 
C) catching a rising trend. 
D) changing the value offered. 
E) reacting to a competitor's position.

Question 19

Launched in 2012,Pepsi Next (see the photo above)is a "mid-calorie soft drink targeted at consumers who want both taste and low calories.However,over the previous decade or so,other similar mid-/low-calorie soft drinks have failed,such as Pepsi Edge and Coca Cola C2.Which stage of the product life cycle are carbonated soft drinks in according to the textbook?

Accepted Answer

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

Question 20

Consumer advocates believe the practice of downsizing by consumer products firms has resulted in __________.

Accepted Answer

A) lower product prices for consumers because of lower labor,raw material,and packaging costs 
B) a greener environment due to the reduction in the amount of packaging,thereby reducing the amount of waste disposed in landfills 
C) fewer product choices for consumers that led to rising prices 
D) keeping prices from rising in response to the psychological barriers consumers have developed for downsized products 
E) a subtle,deceptive,yet legal practice of disguising a price increase 
A) lower product prices for consumers because of lower labor,raw material,and packaging costs 
B) a greener environment due to the reduction in the amount of packaging,thereby reducing the amount of waste disposed in landfills 
C) fewer product choices for consumers that led to rising prices 
D) keeping prices from rising in response to the psychological barriers consumers have developed for downsized products 
E) a subtle,deceptive,yet legal practice of disguising a price increase

Exam 11: Managing Successful Products, Services, and Brands

Which stage in the product life cycle is characterized by a slowing of total industry sales or product class revenue?

Describe the decline stage of the product life cycle.Explain the two strategies a company might employ if its product were in the decline stage of its product life cycle.

To counteract counterfeiting,the U.S.government passed the __________ in 2006.

Product modification refers to a marketing strategy that __________.

When General Mills teams up with Hershey Foods to create a cereal called Reese's Peanut Butter Puffs (the Reese's brand belonging to Hershey's),what is the General Mills' branding strategy called?

Changes appearing in the product,characteristically take place in the __________ stage of the product life cycle.

Multibranding refers to a branding strategy in which a firm __________.

The product life cycle shown in "C" in Figure 11-3 above is an example of a __________ product.

Soft Drink Ad -Why are warranties important from the perspectives of both consumers and manufacturers?

Figure 11-4 above shows that in 2007,CDs were in which stage of the product life cycle?

Figure 11-6 above shows the sequential process of building brand equity."F" represents the fourth and last step,which is to __________.

The classifications of innovators,early adopters,early majority,late majority,and laggards are all based upon __________.

Which of the following statements regarding labels is most accurate?

Packaging that provides convenience,product quality,protection,or easy storage offers what kind of benefits?

A marketing strategy that alters a product's characteristic,such as its quality,performance,or appearance,to increase its value and sales to customers is referred to as __________.

Describe a brand name and explain how it is related to a logo.

A trade name refers to

All of the following are factors triggering the need for product repositioning EXCEPT:

Consumer advocates believe the practice of downsizing by consumer products firms has resulted in __________.

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility in 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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Building an Effective Marketing Plan

Financial Aspects of Marketing

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