Question 1

A few years ago,a company brought a miniature version of its cereal bars to market.The nugget-sized product was very successful because it was not messy.Another company recently introduced a similar product under its own brand.Mini-cereal bars are most likely in the ________ stage of their product life cycle.

Accepted Answer

A) introduction 
B) youth 
C) growth 
D) maturity 
E) extension

Question 2

A manager of a Holiday Inn said,"We have power and value in the market and people are willing to pay for it." This manager is referring to ________.

Accepted Answer

A) the value proposition 
B) societal marketing 
C) total quality management (TQM) 
D) the PLC 
E) brand equity

Question 3

In a competition between ________ and ________ brands,retailers have the advantages of controlling what products will be stocked,where products will be stocked,what prices will be charged,and which products will be featured in local print promotions.

Accepted Answer

A) national;manufacturer 
B) national;private-label 
C) store;private-label 
D) national;licensed 
E) manufacturer;licensed

Question 4

In which stage of the product life cycle would a firm most likely use price reductions and reminder advertising to encourage customers to replace worn-out items?

Accepted Answer

A) growth 
B) youth 
C) maturity 
D) adoption 
E) leveling

Question 5

How does a product category manager differ from a market manager?

Accepted Answer

The answer of How does a product category manager differ...

Question 6

The effectiveness of product strategies depends on the managers who carry them out.

Accepted Answer

A) True 
 B)False

Question 7

Heinz stopped marketing its "Bite Me" brand of frozen pizza snacks due to disappointing sales.This is an example of a ________.

Accepted Answer

A) filling-out strategy 
B) downward line stretch 
C) product line contraction 
D) value stretch 
E) cannibalization strategy

Question 8

Which of the following is NOT necessary for a product-related objective to be effective?

Accepted Answer

A) It should focus on short-term implications. 
B) It should be measurable. 
C) It should be feasible. 
D) It should indicate a specific time frame. 
E) It should be clear.

Question 9

A car company is marketing a new car model that is larger and more luxurious than any of the models currently in the product line.It is also significantly more expensive.Explain the strategy this car company is using with its product line.

Accepted Answer

The answer of A car company is marketing a new...

Question 10

What is ingredient branding? Why would manufacturers want to engage in ingredient branding?

Accepted Answer

The answer of What is ingredient branding? Why would manufacturers...

Question 11

Which of the following is an advantage offered by cobranding?

Accepted Answer

A) Manufacturers do not have to invest in creating their own brand names. 
B) Retailers have exclusive products that cannot be purchased from competitors. 
C) Advertising,sales,promotion,and marketing must be carefully coordinated. 
D) Brand equity is stabilized. 
E) A company can expand its existing brand into a category it otherwise might have difficulty entering alone.

Question 12

Which of the following types of brand equity metrics would most likely be based on information gathered through consumer surveys?

Accepted Answer

A) revenue premium metric 
B) financial market metric 
C) brand venture metric 
D) equity-identity metric 
E) customer mind-set metric

Question 13

The J.M.Smuckers Company makes jams,jellies,fruit spreads,and ice cream toppings.All of these products are sold using the Smuckers brand name.This company uses a(n)________ strategy.

Accepted Answer

A) store brand 
B) private-label brand 
C) cobranding 
D) ingredient branding 
E) family brand

Question 14

Procter & Gamble makes a variety of different cleaners,detergents,and polishes to appeal to a variety of target markets and boost sales potential.Procter & Gamble uses a(n)________.

Accepted Answer

A) full line strategy 
B) undifferentiated strategy 
C) limited-line strategy 
D) contracting strategy 
E) marketing mix orientation

Question 15

Kodak markets cameras,film,X-ray film and equipment,printers,motion picture film,and batteries.Kodak is likely to have ________ who coordinate the mix of the product lines.

Accepted Answer

A) brand managers 
B) product category managers 
C) venture teams 
D) communication teams 
E) market managers

Question 16

Kitchen dishcloths are often difficult to rinse clean and typically dry slowly.A company developed a disposable kitchen cloth that rinses easily and dries quickly.Because this is a brand new product to the market,it can be said to be in the ________ stage of its product life cycle.

Accepted Answer

A) competitive 
B) trial 
C) introduction 
D) growth 
E) youth

Question 17

________ is an agreement between two brands to work together in marketing a new product.

Accepted Answer

A) Manufacturer branding 
B) Cobranding 
C) Franchising 
D) Family branding 
E) Aggregated branding

Question 18

A firm's skunk works department would most likely be located ________.

Accepted Answer

A) in a central part of the firm's main office building 
B) in the most productive section of the company 
C) away from the firm's traditional offices 
D) at the headquarters of the firm's largest customer 
E) as close as possible to the firm's communication specialists

Question 19

The length of the introduction stage of the product life cycle is typically the same for all products.

Accepted Answer