Question 1

According to the diffusion of innovation concept, consumers who are venturesome, higher educated, and use multiple information sources in their adoption of products are called

Accepted Answer

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

Question 2

Figure 11-3
-The product life cycle shown in Box B in Figure 11-3 above represents a ________ product.

Accepted Answer

A)   high-learning
B)   fashion
C)   low-learning
D)   fad
E)   generalizedF) B) and D)
G) B) and E)

Question 3

At which stage of the product life cycle is a company likely to have its most complete product line?

Accepted Answer

A)   introduction
B)   growth
C)   maturity
D)   decline
E)   accelerated developmentF) B) and E)
G) All of the above

Question 4

CDI/BDI Marketing Dashboard
-As 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)   subtracting the total number of non-users from the total number of users of Hawaiian Punch sold to households without children.
C)   finding the difference in total sales of Hawaiian Punch between households who have children and those who do not.
D)   finding the percent of Hawaiian Punch sold to U.S. households without children divided by the percent of the U.S. population in the "Households without children" segment multiplied by 100.
E)   using the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.F) A) and D)
G) A) and E)

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) B) and C)
G) All of the above

Question 6

Which of these 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, and 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 toward packaging and labeling costs.F) A) and E)
G) C) and D)

Question 7

Advertising and promotion costs tend to be higher with a ________ strategy because the company must generate awareness among consumers and retailers for each new brand name without the benefit of any previous impressions.

Accepted Answer

A)   co-branding
B)   private branding
C)   multibranding
D)   multiproduct branding
E)   promotional brandingF) B) and E)
G) A) and B)

Question 8

A ________ product is one for which significant customer education is required and there is an extended introductory period in its life cycle.

Accepted Answer

A)   low-learning
B)   fashion
C)   fad
D)   substitute
E)   high-learningF) B) and C)
G) D) and E)

Question 9

Huggies is a well-known brand of diapers in the United States. Kimberly-Clark has successfully leveraged the strong Huggies brand image among mothers in its use of ________ when it introduced a full line of Huggies baby and toddler toiletries.

Accepted Answer

A)   product line branding
B)   subbranding
C)   uniform branding
D)   mixed branding
E)   brand extensionsF) A) and C)
G) A) and D)

Question 10

Manufacturers of all-electric-powered automobiles provide low-cost leasing options in part to

Accepted Answer

A)   increase profits during the maturity stage of a product's life cycle.
B)   convince laggards to try a new product.
C)   recoup research and development costs.
D)   influence the product life cycle of fashion products.
E)   attempt to overcome barriers to adoption.F) All of the above
G) B) and C)

Question 11

Reducing the package content without changing package size while maintaining or increasing the package price is referred to as

Accepted Answer

A)   outsourcing.
B)   trading up.
C)   shrinkage.
D)   upsizing.
E)   downsizing.F) B) and D)
G) A) and D)

Question 12

All of the following are responsibilities of a product or brand manager except which?

Accepted Answer

A)   engaging in extensive data analysis related to their products and brands
B)   developing new products
C)   managing existing products through the stages of their life cycles
D)   developing and implementing strategies at the corporate level
E)   developing and executing a marketing program described in an annual marketing plan for the product lineF) A) and E)
G) B) and C)

Question 13

Starbucks sometimes offers a promotion known as the "treat receipt." Patrons purchase a drink of their choice in the morning and then will receive a receipt to turn in after 2:00 p.m. that same day. With the receipt the customer can purchase a discounted grande iced beverage. Which is the most likely market modification strategy for Starbucks here?

Accepted Answer

A)   finding new users
B)   creating new use situations
C)   increasing a product's use by existing customers
D)   modifying the product
E)   reacting to competitors' positionsF) A) and B)
G) A) and C)

Question 14

According to the concept of the diffusion of innovation, consumers who are deliberate adopters with many informal social contacts are called

Accepted Answer

A)   innovators.
B)   early adopters.
C)   the early majority.
D)   the late majority.
E)   laggards.F) None of the above
G) All of the above

Question 15

Market 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 by finding new customers, increasing a product's use among existing customers, or creating new use situations.
C)   tries to find new customers and convince users who abandoned the product to purchase again.
D)   drops the lowest producing market segment and replaces it with an entirely new one.
E)   combines the two lowest producing market segments to achieve marketing economies of scale.F) A) and B)
G) D) and E)

Question 16

All of these are product modification strategies except which?

Accepted Answer

A)   product bundling
B)   improving a product's quality
C)   changing a product's appearance
D)   creating a new use situation
E)   altering a product's performanceF) C) and D)
G) A) and B)

Question 17

CDI/BDI Marketing Dashboard
-If you were a marketing manager and were presented with the information in the CDI/BDI Marketing Dashboard above, you would determine that the ________ segment has the most opportunity for increasing Hawaiian Punch sales.

Accepted Answer

A)   households without children
B)   households with children 13 to 18 years old
C)   households with children 6 years old or under
D)   households with children 7 to 12 years old
E)   According to the BDI, all segments show positive numbers, so there is opportunity for growth in every segment.F) C) and D)
G) A) and B)

Question 18

Any container in which a product is offered for sale and on which information is communicated is referred to as

Accepted Answer

A)   a point-of-purchase display.
B)   merchandising.
C)   packaging.
D)   a label.
E)   a product bundle.F) A) and E)
G) A) and C)

Question 19

Sony sells a 75" XBR-X940D television with 4K resolution, HDR support, Android TV interface with a multitude of apps, and a premium direct LED lighting system. This Sony TV is in which stage of its product life cycle?

Accepted Answer

A)   introduction
B)   growth
C)   maturity
D)   decline
E)   harvestF) A) and E)
G) C) and D)

Question 20

Apple launched its iPad in 2010 and it, along with its companions iPad Pro and iPad mini, have become the world's best-selling tablet devices with their multitouch user interfaces and the availability of hundreds of thousands of apps. The product class has experienced tremendous growth in terms of sales and the addition of formidable competitors such as Samsung Galaxy, Amazon Fire, and Lenovo Tab, all vying for market share. In which stage of the product life cycle are the iPad and other tablets?

Accepted Answer

A)   maturity stage
B)   commercialization stage
C)   accelerated development stage
D)   growth stage
E)   introduction stageF) C) and D)
G) B) and E)

Exam 11: Managing Successful Products, Services, and Brands

According to the diffusion of innovation concept, consumers who are venturesome, higher educated, and use multiple information sources in their adoption of products are called

Correct Answer
verified

All of the following are responsibilities of a product or brand manager except which?

Correct Answer
verified

Market modification refers to a marketing strategy that

Correct Answer
verified

According to the concept of the diffusion of innovation, consumers who are deliberate adopters with many informal social contacts are called

Correct Answer
verified

Correct Answer
verified

A ________ product is one for which significant customer education is required and there is an extended introductory period in its life cycle.

Correct Answer
verified

Figure 11-3 -The product life cycle shown in Box B in Figure 11-3 above represents a ________ product.

Correct Answer
verified

Product modification refers to a marketing strategy that

Correct Answer
verified

At which stage of the product life cycle is a company likely to have its most complete product line?

Correct Answer
verified

Advertising and promotion costs tend to be higher with a ________ strategy because the company must generate awareness among consumers and retailers for each new brand name without the benefit of any previous impressions.

Correct Answer
verified

CDI/BDI Marketing Dashboard -If you were a marketing manager and were presented with the information in the CDI/BDI Marketing Dashboard above, you would determine that the ________ segment has the most opportunity for increasing Hawaiian Punch sales.

Correct Answer
verified

CDI/BDI Marketing Dashboard -As shown in the CDI/BDI Marketing Dashboard above, a BDI of 30 is determined by

Correct Answer
verified

Any container in which a product is offered for sale and on which information is communicated is referred to as

Correct Answer
verified

Which of these statements regarding labels is most accurate?

Correct Answer
verified

Reducing the package content without changing package size while maintaining or increasing the package price is referred to as

Correct Answer
verified

Correct Answer
verified

All of these are product modification strategies except which?

Correct Answer
verified

Manufacturers of all-electric-powered automobiles provide low-cost leasing options in part to

Correct Answer
verified

Sony sells a 75" XBR-X940D television with 4K resolution, HDR support, Android TV interface with a multitude of apps, and a premium direct LED lighting system. This Sony TV is in which stage of its product life cycle?

Correct Answer
verified

Huggies is a well-known brand of diapers in the United States. Kimberly-Clark has successfully leveraged the strong Huggies brand image among mothers in its use of ________ when it introduced a full line of Huggies baby and toddler toiletries.

Correct Answer
verified

Exam 11: Managing Successful Products, Services, and Brands

According to the diffusion of innovation concept, consumers who are venturesome, higher educated, and use multiple information sources in their adoption of products are called

Correct AnswerverifiedShow Answer

All of the following are responsibilities of a product or brand manager except which?

Correct AnswerverifiedShow Answer

Market modification refers to a marketing strategy that

Correct AnswerverifiedShow Answer

According to the concept of the diffusion of innovation, consumers who are deliberate adopters with many informal social contacts are called

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A ________ product is one for which significant customer education is required and there is an extended introductory period in its life cycle.

Correct AnswerverifiedShow Answer

Figure 11-3 -The product life cycle shown in Box B in Figure 11-3 above represents a ________ product.

Correct AnswerverifiedShow Answer

Product modification refers to a marketing strategy that

Correct AnswerverifiedShow Answer

At which stage of the product life cycle is a company likely to have its most complete product line?

Correct AnswerverifiedShow Answer

Advertising and promotion costs tend to be higher with a ________ strategy because the company must generate awareness among consumers and retailers for each new brand name without the benefit of any previous impressions.

Correct AnswerverifiedShow Answer

CDI/BDI Marketing Dashboard -If you were a marketing manager and were presented with the information in the CDI/BDI Marketing Dashboard above, you would determine that the ________ segment has the most opportunity for increasing Hawaiian Punch sales.

Correct AnswerverifiedShow Answer

CDI/BDI Marketing Dashboard -As shown in the CDI/BDI Marketing Dashboard above, a BDI of 30 is determined by

Correct AnswerverifiedShow Answer

Any container in which a product is offered for sale and on which information is communicated is referred to as

Correct AnswerverifiedShow Answer

Which of these statements regarding labels is most accurate?

Correct AnswerverifiedShow Answer

Reducing the package content without changing package size while maintaining or increasing the package price is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of these are product modification strategies except which?

Correct AnswerverifiedShow Answer

Manufacturers of all-electric-powered automobiles provide low-cost leasing options in part to

Correct AnswerverifiedShow Answer

Sony sells a 75" XBR-X940D television with 4K resolution, HDR support, Android TV interface with a multitude of apps, and a premium direct LED lighting system. This Sony TV is in which stage of its product life cycle?

Correct AnswerverifiedShow Answer

Huggies is a well-known brand of diapers in the United States. Kimberly-Clark has successfully leveraged the strong Huggies brand image among mothers in its use of ________ when it introduced a full line of Huggies baby and toddler toiletries.

Correct AnswerverifiedShow Answer

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