Exam 11: Managing Successful Products, Services, and Brands

When the Floral Council,a trade association of flower shop retailers,advertises that giving flowers is a thoughtful and appreciated gift for any occasion,it is trying to stimulate __________ demand.

Some singers sing a great song that shoots to the top of the charts.The singers then go on tour and have sold-out concerts everywhere they appear.Just as quickly (particularly if they are unable to follow their first hit song with a second one),they are singing in half-filled concert halls,then smaller clubs,and eventually no one wants to hear them perform.Such "one-hit wonder" singers are best categorized as being __________ products (or services).

The $150 Pebble Smartwatch shown above was one of the first "smart watches" released to the public in 2013 after a revolutionary crowdfunding program managed by Kickstarter.com that raised over $3 million in its first four days and ultimately $10 million from over 68,000 "backers." Smartwatches are becoming a increased presence in wearable computing,which consists of digital computing or sensory devices worn on a person's body (such as Nike's Fuel wristband)or clothing that display specific types of information (time,heart rate,distance walked/ran,text messages/e-mail alerts,caloric intake,etc. ),play music,etc.These devices also can connect wirelessly to smartphones,tablets devices,and PCs to further manage the data generated.Samsung recently launched its Galaxy Gear smart watch and Apple is rumored to launch such a device in 2014.In what stage of the product life cycle is this product?

All of the following are product modification strategies EXCEPT:

The consumers represented by "C" in Figure 11-5 above are called __________.

Four key challenges that package and label designers face include: (1)connecting with customers; (2)environmental concerns; (3)__________;and (4)cost reduction.

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

There are several reasons why a consumer would be reluctant to adopt a new product.For example,a consumer might be reluctant to adopt a new product because of a risk barrier,which occurs when __________.

A strategy for managing a product's life cycle that attempts to find new customers,increase a product's use among existing customers,or create new use situations is referred to as __________.

Figure 11-6 above shows the sequential process of building brand equity.The second step is to establish a brand's meaning in the minds of consumers.This step consists of two dimensions,"B" and "C," which stand for __________ and __________.

When Rose went shopping for a new purse,she thought she had found a real value-a Gucci purse for about 50% of what she was expecting to pay.When she looked at it more closely,she noticed that the purse was identical to a Gucci but was not manufactured by Gucci.This was most likely an example of

As product adopters,laggards

Which of the following is a characteristic of the growth stage of the product life cycle?

One of the most popular means to gain consumer trial is through

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.

The __________ stage of the product life cycle is characterized by the appearance of competitors.

Sales exhibit a steady downward trend throughout which stage of the product life cycle?

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

Combining a corporate or family brand with a new brand to distinguish a part of its product line from others is referred to as __________.

The swoosh that appears on every Nike product is an example of a __________.