Question 1

Describe the decline stage of the product life cycle. Explain the two strategies a company might employ if its product were in the decline stage of its product life cycle.

Accepted Answer

The decline stage occurs when sales drop...

Question 2

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

Accepted Answer

A)   market modification.
B)   product modification.
C)   product repositioning.
D)   product extension.
E)   diversification.F) None of the above
G) B) and C)

Question 3

7UP is a lemon-lime carbonated soft drink that has been very successful in the United States. Dr Pepper/Seven Up, Inc., the maker of 7UP, uses a family branding strategy to market 7UP worldwide. In China, sales have suffered since the brand name means "death through drinking." Which criterion for picking a good band name did Dr Pepper/Seven Up, Inc. violate when it chose to use a family branding strategy to market 7UP in China?

Accepted Answer

A)   The name should have favorable phonetic and semantic associations in other languages.
B)   The name should be simple.
C)   The name should have no governmental restrictions.
D)   The name should suggest the product's benefits.
E)   The name should not be difficult to spell or pronounce.F) A) and B)
G) D) and E)

Question 4

A ________ product requires little learning by the consumer, and the benefits of the purchase are readily understood.

Accepted Answer

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

Question 5

The Samsung brand includes the familiar Samsung Electronics, but also Samsung Heavy Industries, Samsung Engineering, Samsung C&T (construction) , and Samsung Life Insurance. This company uses

Accepted Answer

A)   multibranding.
B)   uniform branding.
C)   co-branding.
D)   corporate branding.
E)   agent licensing.F) None of the above
G) C) and D)

Question 6

The ________ 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)   decelerationF) C) and D)
G) None of the above

Question 7

Figure 11-5
-The consumers represented by Segment C in Figure 11-5 above are called

Accepted Answer

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

Question 8

Men who tried the Gillette Fusion razor were so satisfied with it that 60 percent of them adopted the product permanently. Men who repurchased the razor are known as ________ purchasers.

Accepted Answer

A)   repeat
B)   routine
C)   cyclical
D)   established
E)   habitualF) A) and D)
G) None of the above

Question 9

The appearance of competitors often signals the beginning of the ________ stage of the product life cycle.

Accepted Answer

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

Question 10

As more competitors launch their own products in a product class and the product progresses along its life cycle, company attention is focused on creating __________ demand, rather than just demand for the product class.

Accepted Answer

A)   primary
B)   selective
C)   derived
D)   generic
E)   secondaryF) None of the above
G) A) and E)

Question 11

Nike has successfully used ________ with its lines Air Jordan and Air Lebron.

Accepted Answer

A)   family branding
B)   subbranding
C)   multiproduct branding
D)   mixed branding
E)   generic brandingF) B) and D)
G) None of the above

Question 12

All of the following are barriers to the adoption of new products except which?

Accepted Answer

A)   risk
B)   regulatory
C)   psychological
D)   usage
E)   valueF) A) and D)
G) A) and B)

Question 13

According to the concept of the diffusion of innovation, consumers who are leaders in social settings and have slightly above average education 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) B) and E)

Question 14

The formula ________ is used to calculate 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)   of the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itselfF) B) and E)
G) B) and C)

Question 15

Over 50 percent of the dollars spent in the United States on disposable cups and plates go toward the purchase of store brands of these products that are manufacturer by others. ________ has been very successful in this disposables category.

Accepted Answer

A)   Generic branding
B)   Multibranding
C)   Co-branding
D)   Multiproduct branding
E)   Private brandingF) A) and D)
G) C) and D)

Question 16

The challenges of packaging and labeling are often global. One particular challenge facing global manufacturers involves

Accepted Answer

A)   creating larger size packages to be sold at warehouse stores.
B)   creating packaging sensitive to educational diversity.
C)   addressing ongoing environmental concerns.
D)   ensuring ISO 19000 total quality management within national boundaries.
E)   making packaging an irrelevant part of a firm's marketing strategy.F) C) and D)
G) B) and E)

Question 17

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these is the BDI, or

Accepted Answer

A)   business development index.
B)   brand development index.
C)   business-portfolio development index.
D)   buyer development index.
E)   benchmark development index.F) None of the above
G) A) and E)

Question 18

Which of the following is an example of a product in the decline stage of the product life cycle?

Accepted Answer

A)   analog TVs
B)   smartphones
C)   3D printers
D)   health insurance
E)   tablet devicesF) B) and D)
G) B) and C)

Question 19

Xerox pioneered the first portable fax machine. In 1980, the price was a hefty $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 E)
G) All of the above

Question 20

Several factors explain 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 value barrier, which occurs when

Accepted Answer

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

Exam 11: Managing Successful Products, Services, and Brands

Describe the decline stage of the product life cycle. Explain the two strategies a company might employ if its product were in the decline stage of its product life cycle.

Correct Answer
verified
The decline stage occurs when sales drop...
View Answer

As more competitors launch their own products in a product class and the product progresses along its life cycle, company attention is focused on creating __________ demand, rather than just demand for the product class.

Correct Answer
verified

The challenges of packaging and labeling are often global. One particular challenge facing global manufacturers involves

Correct Answer
verified

Which of the following is an example of a product in the decline stage of the product life cycle?

Correct Answer
verified

The formula ________ is used to calculate BDI.

Correct Answer
verified

The appearance of competitors often signals the beginning of the ________ stage of the product life cycle.

Correct Answer
verified

A ________ product requires little learning by the consumer, and the benefits of the purchase are readily understood.

Correct Answer
verified

All of the following are barriers to the adoption of new products except which?

Correct Answer
verified

Nike has successfully used ________ with its lines Air Jordan and Air Lebron.

Correct Answer
verified

Over 50 percent of the dollars spent in the United States on disposable cups and plates go toward the purchase of store brands of these products that are manufacturer by others. ________ has been very successful in this disposables category.

Correct Answer
verified

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

Correct Answer
verified

Men who tried the Gillette Fusion razor were so satisfied with it that 60 percent of them adopted the product permanently. Men who repurchased the razor are known as ________ purchasers.

Correct Answer
verified

Several factors explain 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 value barrier, which occurs when

Correct Answer
verified

The Samsung brand includes the familiar Samsung Electronics, but also Samsung Heavy Industries, Samsung Engineering, Samsung C&T (construction) , and Samsung Life Insurance. This company uses

Correct Answer
verified

The ________ 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.

Correct Answer
verified

Figure 11-5 -The consumers represented by Segment C in Figure 11-5 above are called

Correct Answer
verified

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these is the BDI, or

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

According to the concept of the diffusion of innovation, consumers who are leaders in social settings and have slightly above average education are called

Correct Answer
verified

Exam 11: Managing Successful Products, Services, and Brands

Describe the decline stage of the product life cycle. Explain the two strategies a company might employ if its product were in the decline stage of its product life cycle.

Correct AnswerverifiedThe decline stage occurs when sales drop...View AnswerShow Answer

As more competitors launch their own products in a product class and the product progresses along its life cycle, company attention is focused on creating __________ demand, rather than just demand for the product class.

Correct AnswerverifiedShow Answer

The challenges of packaging and labeling are often global. One particular challenge facing global manufacturers involves

Correct AnswerverifiedShow Answer

Which of the following is an example of a product in the decline stage of the product life cycle?

Correct AnswerverifiedShow Answer

The formula ________ is used to calculate BDI.

Correct AnswerverifiedShow Answer

The appearance of competitors often signals the beginning of the ________ stage of the product life cycle.

Correct AnswerverifiedShow Answer

A ________ product requires little learning by the consumer, and the benefits of the purchase are readily understood.

Correct AnswerverifiedShow Answer

All of the following are barriers to the adoption of new products except which?

Correct AnswerverifiedShow Answer

Nike has successfully used ________ with its lines Air Jordan and Air Lebron.

Correct AnswerverifiedShow Answer

Over 50 percent of the dollars spent in the United States on disposable cups and plates go toward the purchase of store brands of these products that are manufacturer by others. ________ has been very successful in this disposables category.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Men who tried the Gillette Fusion razor were so satisfied with it that 60 percent of them adopted the product permanently. Men who repurchased the razor are known as ________ purchasers.

Correct AnswerverifiedShow Answer

Several factors explain 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 value barrier, which occurs when

Correct AnswerverifiedShow Answer

The Samsung brand includes the familiar Samsung Electronics, but also Samsung Heavy Industries, Samsung Engineering, Samsung C&T (construction) , and Samsung Life Insurance. This company uses

Correct AnswerverifiedShow Answer

The ________ 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.

Correct AnswerverifiedShow Answer

Figure 11-5 -The consumers represented by Segment C in Figure 11-5 above are called

Correct AnswerverifiedShow Answer

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these is the BDI, or

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

According to the concept of the diffusion of innovation, consumers who are leaders in social settings and have slightly above average education are called

Correct AnswerverifiedShow Answer

Correct Answer
verified
The decline stage occurs when sales drop...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified