Question 1

product manager is sometimes called a __________.

Accepted Answer

A)  chief marketing officer (CMO) 
B)  brand manager 
C)  marketing manager 
D)  category manager 
E)  sales manager

Question 2

Which of the following statements regarding warranties is most accurate?

Accepted Answer

A)  Limited-coverage warranties are required for all manufactured products but not for services. 
B)  Full warranties are required for all products and services regardless of the size of the firm. 
C)  Warranties protect consumers but have limited benefits to producers. 
D)  Warranties benefit producers through enhanced reputations. 
E)  Warranties are relatively unimportant in light of product liability claims.

Question 3

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

Accepted Answer

A)  subbranding 
B)  multibranding 
C)  mixed branding 
D)  private branding 
E)  family branding

Question 4

__________ stage of the product life cycle is characterized by the slowing of total industry sales or product class revenue,causing marginal competitors to begin leaving the market.

Accepted Answer

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

Question 5

Brand extensions require__________.

Accepted Answer

A)  manufacturing a product under a new name that consumers will view as an entirely new product line 
B)  manufacturing a new product with the same brand name for a new market segment in the same product class so consumers will view it as a logical addition to the original product line 
C)  manufacturing accessory products for the base offering, such as Barbie clothes for Barbie Dolls 
D)  licensing another firm to manufacture modified versions of the original products 
E)  applying the current brand name to enter a completely different product class

Question 6

Huggies Photo
-pairing of two brand names of two manufacturers on a single product is referred to as __________.

Accepted Answer

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

Question 7

branding strategy in which a firm markets some products under its own name(s)and other products under the name of a reseller because the segment attracted to the reseller is different from its own market is referred to as __________.

Accepted Answer

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

Question 8

Sealy,the self-proclaimed largest manufacturer of mattresses in the U.S.,recently set out to redefine its place in the bedrooms of America.No longer was it going to be known as simply a mattress company.Now the name Sealy was going to be known as the world's leading "sleep wellness provider." This is an example of __________.

Accepted Answer

A)  reverse marketing 
B)  demarketing 
C)  repositioning 
D)  resegmenting 
E)  positioning

Question 9

Gatorade introduced Gatorade AM as a morning beverage when you didn't want coffee,it was using a __________ strategy.

Accepted Answer

A)  product modification 
B)  brand modification 
C)  market modification 
D)  market-product extension 
E)  diversification

Question 10

CDI/BDI Marketing Dashboard
-shown in the CDI/BDI marketing dashboard above,a BDI of 30 is determined by __________.

Accepted Answer

A)  finding the percent of the U.S. population in the "Households without children" segment divided by the percent of Hawaiian Punch sold to households without children in the U.S. multiplied by 100 
B)  finding the percent of Hawaiian Punch sold to households without children in the U.S. divided by the percent of the U.S. population in the "Households without children" segment multiplied by 100 
C)  subtracting the total number of non-users from the total number of users of Hawaiian Punch sold to households without children 
D)  finding the difference in total sales of Hawaiian Punch between households who have children with those who do not 
E)  using a chart provided in the category development index

Question 11

product adopters,innovators __________.

Accepted Answer

A)  have a fear of debt and use neighbors and friends as information sources 
B)  are skeptical and have below average social status 
C)  are deliberate and use many informal social contacts 
D)  are leaders in social settings and have a slightly above average education 
E)  are venturesome, highly educated, and use multiple information sources

Question 12

a customer is reluctant to try a new product because she's afraid it might make her ill,the company is most likely facing a __________ barrier.

Accepted Answer

A)  usage 
B)  risk 
C)  value 
D)  emotional 
E)  psychological

Question 13

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

Question 14

Reynold's Aluminum foil box has two side tabs that say "Press Here to Lock Roll" to keep the roll of foil in place during use.This demonstrates which elements of good packaging?

Accepted Answer

A)  perceptual benefits and functional benefits 
B)  protection benefits and functional benefits 
C)  communication benefits and perceptual benefits 
D)  communication benefits and functional benefits 
E)  functional benefits and protection benefits

Question 15

Describe the concept of diffusion of innovation.Identify and describe the category and incidence in the population for each product adopter.

Accepted Answer

The answer of Describe the concept of diffusion of innovation.Identify...

Question 16

Which of the following products would have a high-learning product life cycle curve?

Accepted Answer

A)  electric cars 
B)  Fusion razors 
C)  fleece bikinis 
D)  women's hosiery 
E)  vinyl dresses

Question 17

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 __________.

Accepted Answer

A)  there is no incentive to change 
B)  there are physical, economic, or social issues 
C)  there are cultural differences 
D)  the financial commitment is too great 
E)  the product is not consistent with existing habits

Question 18

time a product can be stored before it spoils is referred to as its __________.

Accepted Answer

A)  product life cycle 
B)  use-by date 
C)  spoilage index 
D)  shelf life 
E)  expiration date

Question 19

formula to calculate a BDI = __________.

Accepted Answer

A)  (Percent of the total U.S. population in a market segment ÷ Percent of a brand's total U.S. sales in a market segment) × 100 
B)  (Percent of a product category's total U.S. sales in a market segment ÷ Percent of the total U.S. population in a market segment) × 100 
C)  (Percent of a brand's total U.S. sales in a market segment ÷ Percent of the total U.S. population in a market segment) × 100 
D)  (Percent of the total U.S. population in a market segment ÷ Percent of a product category's total U.S. sales in a market segment) × 100 
E)  There is not enough information to make any conclusions.

Question 20

contractual agreement whereby one company (licensor)allows its brand name or trademark to be used with products or services offered by another company (licensee)for a royalty or fee is referred to as __________.

Accepted Answer

A)  co-branding 
B)  generic branding 
C)  reseller licensing 
D)  mixed branding 
E)  brand licensing

Exam 11: Managing Successful Products,Services,and Brands