Question 1

Xerox pioneered the first portable fax machine. In 1980, the price was $12,700. Xerox used __________ pricing strategy to help recover its research and development costs.

Accepted Answer

A)  a penetration
B)  a cost-plus
C)  a skimming
D)  a target ROI
E)  an above-marketF) A) and C)
G) B) and C)

Question 2

For more than 30 years, Starkist put 6.5 ounces of tuna into its regular-sized can. Today, Starkist puts only 6.125 ounces of tuna into the same-size can but charges the same price. Georgia-Pacific reduced the content of its Brawny paper towel six-roll pack by 20 percent without lowering the price. There are two sides to the ethical argument about this practice: that of consumer advocates and that of manufacturers. What is the practice called and what is the basic position of each side?

Accepted Answer

The practice is called downsizing, which...

Question 3

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 sells 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.F) C) and E)
G) All of the above

Question 4

The "Mean Stinks" ignition was designed to primarily reach which segment of prospective customers?

Accepted Answer

A)  baby boomer women
B)  teen girls
C)  Gen X girls
D)  Gen Y boys
E)  teen boysF) A) and B)
G) B) and D)

Question 5

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.F) A) and B)
G) A) and C)

Question 6

For any product to be successful, it must be purchased by

Accepted Answer

A)  early adopters and laggards.
B)  early majority and late majority.
C)  late majority and laggards.
D)  innovators and early majority.
E)  innovators and early adopters.F) A) and E)
G) C) and D)

Question 7

During the introduction stage of the product life cycle, __________ pricing strategy may be used. This pricing strategy charges a high initial price to recoup the costs of product development.

Accepted Answer

A)  a penetration
B)  a cost-plus
C)  a target ROI
D)  a skimming
E)  an above-marketF) All of the above
G) B) and E)

Question 8

The __________ stage of the product life cycle occurs when a product is launched to its intended target market.

Accepted Answer

A)  concept
B)  introduction
C)  growth
D)  maturity
E)  declineF) D) and E)
G) A) and C)

Question 9

Gillette budgeted $200 million in advertising to introduce the Fusion razor to male shavers. Such expenditures are often made to stimulate __________, the desire for the product class, rather than for a specific brand, when there are few competitors with the same product.

Accepted Answer

A)  secondary demand
B)  introductory demand
C)  primary demand
D)  discretionary demand
E)  selective demandF) All of the above
G) A) and E)

Question 10

An implied warranty

Accepted Answer

A)  provides a written statement of manufacturer liability.
B)  states the bounds of coverage and, more important, areas of noncoverage.
C)  has no limits of noncoverage.
D)  assigns responsibility for product deficiencies to the manufacturer.
E)  assigns responsibility for product deficiencies on misuse to the consumer.F) C) and D)
G) C) and E)

Question 11

Identify and describe the four branding strategies that product and brand managers use.

Accepted Answer

Product and brand managers use the follo...

Question 12

The second step in the sequential process of building brand equity is to

Accepted Answer

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

Question 13

Your product has been suffering from steadily eroding sales. You have tried a number of options to revitalize the product's sales and profits, but after seven changes in your strategy, you have yet to find success. Which of the following actions would be the least appropriate next step?

Accepted Answer

A)  Delete the product from the line.
B)  Retain the product, but reduce its marketing costs.
C)  Stimulate primary demand.
D)  Stimulate selective demand.
E)  Rebrand the product.F) A) and B)
G) A) and C)

Question 14

The concept of the diffusion of innovation shows how a product "diffuses" or spreads through the population over time. The consumer population is divided into five categories of product adopters based on when they adopt (i.e., first buy)  a new product. Each product adopter category has a unique profile. Consumers who are deliberate adopters with many informal social contacts are called

Accepted Answer

A)  innovators.
B)  early adopters.
C)  early majority.
D)  late majority.
E)  laggards.F) C) and E)
G) A) and D)

Question 15

What is the marketing objective for the decline stage of the product life cycle?

Accepted Answer

A)  harvesting
B)  add outlets
C)  stress differentiation
D)  gain awareness
E)  maintain brand loyaltyF) B) and D)
G) D) and E)

Question 16

For years, when most consumers thought of cranberries, they thought of the Ocean Spray brand. Then Northland-branded cranberry juice came on the market, claiming that it was superior to the Ocean Spray brand. Northland was creating __________ demand.

Accepted Answer

A)  primary
B)  derived
C)  generic
D)  selective
E)  secondaryF) A) and B)
G) C) and D)

Question 17

Hillside coffee comes in single-serving, self-heating containers. Not only does this benefit people on the go, it is a popular product with people in areas prone to hurricanes or blizzards because they can still have hot coffee when there is no electricity. This demonstrates which benefit of good packaging?

Accepted Answer

A)  communication benefit
B)  perceptual benefit
C)  financial benefit
D)  societal benefit
E)  functional benefitF) None of the above
G) A) and B)

Question 18

Brand personality refers to

Accepted Answer

A)  the personification of a brand in terms of its benefits.
B)  a brand name that cannot be spoken.
C)  a set of human characteristics associated with a brand name.
D)  the added value a brand name gives to a product beyond the functional benefits provided.
E)  the embedded association between a company spokesman or paid celebrity and the product itself.F) D) and E)
G) A) and B)

Question 19

When selecting a brand name, it should: (1)  suggest the product benefits; (2)  __________; (3)  fit the company or product image; (4)  have no legal or regulatory restrictions; (5)  be simple and emotional; and (6)  have favorable phonetic and semantic associations in other languages.

Accepted Answer

A)  never have a humorous connotation
B)  be easy to spell and pronounce
C)  not be easily imitated
D)  be patented
E)  be memorable, distinctive, and positiveF) A) and C)
G) A) and B)

Question 20

There are four stages of the product life cycle. What does the first stage of the product life cycle represent?

Accepted Answer

A)  introduction
B)  maturity
C)  growth
D)  accelerated development
E)  declineF) A) and B)
G) B) and E)

Exam 11: Managing Successful Products Services and Brands

When selecting a brand name, it should: (1) suggest the product benefits; (2) __________; (3) fit the company or product image; (4) have no legal or regulatory restrictions; (5) be simple and emotional; and (6) have favorable phonetic and semantic associations in other languages.

Correct Answer
verified

There are four stages of the product life cycle. What does the first stage of the product life cycle represent?

Correct Answer
verified

An implied warranty

Correct Answer
verified

During the introduction stage of the product life cycle, __________ pricing strategy may be used. This pricing strategy charges a high initial price to recoup the costs of product development.

Correct Answer
verified

Xerox pioneered the first portable fax machine. In 1980, the price was $12,700. Xerox used __________ pricing strategy to help recover its research and development costs.

Correct Answer
verified

Product modification refers to a marketing strategy that

Correct Answer
verified

What is the marketing objective for the decline stage of the product life cycle?

Correct Answer
verified

Correct Answer
verified

The second step in the sequential process of building brand equity is to

Correct Answer
verified

Your product has been suffering from steadily eroding sales. You have tried a number of options to revitalize the product's sales and profits, but after seven changes in your strategy, you have yet to find success. Which of the following actions would be the least appropriate next step?

Correct Answer
verified

Correct Answer
verified

For any product to be successful, it must be purchased by

Correct Answer
verified

For years, when most consumers thought of cranberries, they thought of the Ocean Spray brand. Then Northland-branded cranberry juice came on the market, claiming that it was superior to the Ocean Spray brand. Northland was creating __________ demand.

Correct Answer
verified

The "Mean Stinks" ignition was designed to primarily reach which segment of prospective customers?

Correct Answer
verified

Identify and describe the four branding strategies that product and brand managers use.

Correct Answer
verified
Product and brand managers use the follo...
View Answer

Brand personality refers to

Correct Answer
verified

Correct Answer
verified
The practice is called downsizing, which...
View Answer

Gillette budgeted $200 million in advertising to introduce the Fusion razor to male shavers. Such expenditures are often made to stimulate __________, the desire for the product class, rather than for a specific brand, when there are few competitors with the same product.

Correct Answer
verified

The __________ stage of the product life cycle occurs when a product is launched to its intended target market.

Correct Answer
verified

Multibranding refers to a branding strategy in which a firm

Correct Answer
verified

Exam 11: Managing Successful Products Services and Brands

When selecting a brand name, it should: (1) suggest the product benefits; (2) __________; (3) fit the company or product image; (4) have no legal or regulatory restrictions; (5) be simple and emotional; and (6) have favorable phonetic and semantic associations in other languages.

Correct AnswerverifiedShow Answer

There are four stages of the product life cycle. What does the first stage of the product life cycle represent?

Correct AnswerverifiedShow Answer

An implied warranty

Correct AnswerverifiedShow Answer

During the introduction stage of the product life cycle, __________ pricing strategy may be used. This pricing strategy charges a high initial price to recoup the costs of product development.

Correct AnswerverifiedShow Answer

Xerox pioneered the first portable fax machine. In 1980, the price was $12,700. Xerox used __________ pricing strategy to help recover its research and development costs.

Correct AnswerverifiedShow Answer

Product modification refers to a marketing strategy that

Correct AnswerverifiedShow Answer

What is the marketing objective for the decline stage of the product life cycle?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The second step in the sequential process of building brand equity is to

Correct AnswerverifiedShow Answer

Your product has been suffering from steadily eroding sales. You have tried a number of options to revitalize the product's sales and profits, but after seven changes in your strategy, you have yet to find success. Which of the following actions would be the least appropriate next step?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

For any product to be successful, it must be purchased by

Correct AnswerverifiedShow Answer

For years, when most consumers thought of cranberries, they thought of the Ocean Spray brand. Then Northland-branded cranberry juice came on the market, claiming that it was superior to the Ocean Spray brand. Northland was creating __________ demand.

Correct AnswerverifiedShow Answer

The "Mean Stinks" ignition was designed to primarily reach which segment of prospective customers?

Correct AnswerverifiedShow Answer

Identify and describe the four branding strategies that product and brand managers use.

Correct AnswerverifiedProduct and brand managers use the follo...View AnswerShow Answer

Brand personality refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedThe practice is called downsizing, which...View AnswerShow Answer

Gillette budgeted $200 million in advertising to introduce the Fusion razor to male shavers. Such expenditures are often made to stimulate __________, the desire for the product class, rather than for a specific brand, when there are few competitors with the same product.

Correct AnswerverifiedShow Answer

The __________ stage of the product life cycle occurs when a product is launched to its intended target market.

Correct AnswerverifiedShow Answer

Multibranding refers to a branding strategy in which a firm

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
Product and brand managers use the follo...
View Answer

Correct Answer
verified

Correct Answer
verified
The practice is called downsizing, which...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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