Question 1

Trading up refers to

Accepted Answer

A)   adding product features but reducing the price.
B)   changing the distribution channel members to higher-service-quality retailers.
C)   adding value to the product (or line)  through additional features or higher-quality materials.
D)   reallocating marketing resources from a poor-performing target market to one that demonstrates greater potential for future growth.
E)   offering consumers a discount when they purchase a more expensive version of the product.F) None of the above
G) A) and B)

Question 2

Explain the difference between primary demand and selective demand.

Accepted Answer

Primary demand is a desire for...

Question 3

What is the difference between multiproduct branding and multibranding strategies? What advantages are offered by each of these two approaches?

Accepted Answer

The manufacturer may use either a multip...

Question 4

New product brands introduced as defensive moves to counteract and confront a firm's competition are referred to as

Accepted Answer

A)   co-brands.
B)   private brands.
C)   fighting brands.
D)   brand extensions.
E)   subbrands.F) C) and D)
G) B) and D)

Question 5

There is no set time that a product takes to move through its life cycle. But as a rule,

Accepted Answer

A)   services are highly affected by social trends while tangible goods are not.
B)   consumer products have shorter life cycles than business products.
C)   business products typically show very short maturity stages.
D)   technological change tends to lengthen product life cycles.
E)   product life cycles are longer for ideas than for services.F) A) and C)
G) A) and B)

Question 6

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) All of the above
G) A) and D)

Question 7

The added value a brand name gives to a product beyond the functional benefits provided is referred to as

Accepted Answer

A)   brand cachet.
B)   brand net worth.
C)   brand equity.
D)   brand benefit.
E)   brand enhancement.F) B) and C)
G) A) and E)

Question 8

Which of the following statements about the decline stage of the product life cycle is most accurate?

Accepted Answer

A)   Somewhat paradoxically, in the decline stage sales decline even though profits increase.
B)   A product always enters the decline stage as the result of a major product flaw or marketing misstep.
C)   A major reason that a firm's product enters the decline stage is as a result of changes in the marketing environment.
D)   The only real step that can be taken to avoid the decline stage and ultimately extinction is to increase marketing expenditures as soon as the product enters its maturity stage.
E)   Service industries are exempt from the decline stage because of their intangible nature.F) B) and C)
G) A) and D)

Question 9

The Tesla Motors Model S, an all-electric-powered automobile, is in which stage of its product life cycle?

Accepted Answer

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

Question 10

Which of the following is a product modification strategy?

Accepted Answer

A)   creating new advertising for a product
B)   improving a product's quality
C)   finding a new target market for a product
D)   creating a new use situation for a product
E)   altering a product's distributionF) A) and E)
G) A) and C)

Question 11

When a company uses a product line extension, it

Accepted Answer

A)   markets a product under a new brand name so that consumers will view it as an entirely new product line.
B)   markets a new product with the current brand name to enter a new market segment in its product class.
C)   speeds up the movement of a product through its product life cycle.
D)   contracts with another firm to manufacture modified versions of the original products.
E)   applies the current brand name to enter a completely different product class.F) None of the above
G) A) and E)

Question 12

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

Accepted Answer

A)   harvesting
B)   market share
C)   stress differentiation
D)   maintain brand loyalty
E)   gain awarenessF) A) and B)
G) B) and E)

Question 13

A billboard showed simply the shape of a bottle. Typically consumers were able to tell that the ad was for Coca-Cola. Why were consumers able to identify the brand? Specifically, what packaging benefit does Coca-Cola use?

Accepted Answer

This shows the importance of the percept...

Question 14

One tool available when trying to even out the variations in demand for services is

Accepted Answer

A)   off-peak pricing.
B)   product lay-away.
C)   credit incentives.
D)   container sales.
E)   product rationing.F) B) and E)
G) D) and E)

Question 15

What six criteria are mentioned most often in selecting a good brand name? Give an example of a brand name that illustrates each criterion.

Accepted Answer

Six criteria most often mentioned when s...

Question 16

Major American car manufacturers are offering buying incentives to newly graduated college students who traditionally have little or no credit. Car manufacturers are using which of the following market modification strategies?

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 E)
G) B) and C)

Question 17

If a firm's marketing dashboard displays a BDI of 120 for a consumer packaged good such as Hawaiian Punch, this indicates which of the following?

Accepted Answer

A)   a weak brand position in a segment
B)   a strong brand position in a segment
C)   above-average product category purchases by a market segment
D)   below-average product category purchases by a market segment
E)   There is not enough information to make any conclusions.F) B) and C)
G) D) and E)

Question 18

Promotional expenses at the maturity stage of the product life cycle are often designed to

Accepted Answer

A)   convince those who have abandoned the brand to try it again.
B)   maintain market share.
C)   create a sense of nostalgia.
D)   attract more price-conscious consumers.
E)   thwart the growing number of competitors that have entered the market.F) B) and C)
G) A) and B)

Question 19

Products that experience rapid sales on introduction and then an equally rapid decline are called ________ products.

Accepted Answer

A)   high-learning
B)   low-learning
C)   fashion
D)   fad
E)   primaryF) A) and E)
G) None of the above

Question 20

When a product spreads through the population, it is called the

Accepted Answer

A)   extension of innovation.
B)   proliferation of innovation.
C)   open innovation.
D)   dispersal of innovation.
E)   diffusion of innovation.F) A) and D)
G) A) and E)

Exam 10: Managing Successful Products, Services, and Brands

Major American car manufacturers are offering buying incentives to newly graduated college students who traditionally have little or no credit. Car manufacturers are using which of the following market modification strategies?

Correct AnswerverifiedShow Answer

The Tesla Motors Model S, an all-electric-powered automobile, is in which stage of its product life cycle?

Correct AnswerverifiedShow Answer

Which of the following statements about the decline stage of the product life cycle is most accurate?

Correct AnswerverifiedShow Answer

Products that experience rapid sales on introduction and then an equally rapid decline are called ________ products.

Correct AnswerverifiedShow Answer

There is no set time that a product takes to move through its life cycle. But as a rule,

Correct AnswerverifiedShow Answer

When a product spreads through the population, it is called the

Correct AnswerverifiedShow Answer

Promotional expenses at the maturity stage of the product life cycle are often designed to

Correct AnswerverifiedShow Answer

New product brands introduced as defensive moves to counteract and confront a firm's competition are referred to as

Correct AnswerverifiedShow Answer

What six criteria are mentioned most often in selecting a good brand name? Give an example of a brand name that illustrates each criterion.

Correct AnswerverifiedSix criteria most often mentioned when s...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Explain the difference between primary demand and selective demand.

Correct AnswerverifiedPrimary demand is a desire for...View AnswerShow Answer

The added value a brand name gives to a product beyond the functional benefits provided is referred to as

Correct AnswerverifiedShow Answer

When a company uses a product line extension, it

Correct AnswerverifiedShow Answer

What is the difference between multiproduct branding and multibranding strategies? What advantages are offered by each of these two approaches?

Correct AnswerverifiedThe manufacturer may use either a multip...View AnswerShow Answer

A billboard showed simply the shape of a bottle. Typically consumers were able to tell that the ad was for Coca-Cola. Why were consumers able to identify the brand? Specifically, what packaging benefit does Coca-Cola use?

Correct AnswerverifiedThis shows the importance of the percept...View AnswerShow Answer

Trading up refers to

Correct AnswerverifiedShow Answer

If a firm's marketing dashboard displays a BDI of 120 for a consumer packaged good such as Hawaiian Punch, this indicates which of the following?

Correct AnswerverifiedShow Answer

Which of the following is a product modification strategy?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

One tool available when trying to even out the variations in demand for services is

Correct AnswerverifiedShow Answer

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Six criteria most often mentioned when s...
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Primary demand is a desire for...
View Answer

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The manufacturer may use either a multip...
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This shows the importance of the percept...
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Correct Answer
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