Question 1

In the 1960s, television westerns were extremely popular.The shows were adventure shows with settings and costumes that were very unlike what really existed.There was Bonanza, Wagon Train, The Virginian, Laramie, etc.When viewers gradually stopped watching this category of programs, production companies found the networks no longer wanted to televise such shows.The production companies used a _________ strategy and stopped production on all television westerns when the networks stopped showing them.

Accepted Answer

A)  diversification
B)  aggregation
C)  segmentation
D)  deletion
E)  harvestingF) A) and D)
G) A) and E)

Question 2

The key idea behind diffusion of innovation is that

Accepted Answer

A)  not all consumers accept a new product at the same time; adoption of a product spreads slowly throughout the population.
B)  once a product enters the market the time span between awareness and purchase is incredibly short.
C)  the introduction of a entire new product class almost always diffuses the importance of its predecessor within a matter of months.
D)  adoption of a new product depends almost entirely upon the introductory price, so adoption diffuses based upon consumer income.
E)  the rate of adoption has an almost one-to-one correlation with the life cycle graph based on product class.F) C) and D)
G) B) and E)

Question 3

FIGURE 11-3 
-According to the text, the electric automobiles made by General Motors (see Figure 11-3 above)  are in which stage of the product life cycle?

Accepted Answer

A)  growth
B)  decline
C)  harvest
D)  maturity
E)  introductionF) C) and D)
G) A) and D)

Question 4

FIGURE 11-1 
-The stage in the product life cycle labeled "A" in Figure 11-1 above is referred to as

Accepted Answer

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

Question 5

The process of managing the entire customer experience with the company is called

Accepted Answer

A)  advertising.
B)  sales promotion.
C)  personal selling.
D)  customer experience management.
E)  customer relationship management.F) A) and B)
G) B) and D)

Question 6

FIGURE 11-8 
-The "Dare to Have it All" ad shown in Figure 11.8 above, depicts a set of human characteristics associated with a brand name, which defines its _________.

Accepted Answer

A)  symbolic brand
B)  brand personality
C)  brand mannerism
D)  brand personification
E)  product personificationF) A) and B)
G) B) and C) B

Question 7

Which of the following is the best choice of brand name for the product according to the five criteria for selecting a good brand name?

Accepted Answer

A)  Spam canned meat
B)  Ken's salad dressing
C)  Formula 409 cleaner
D)  Match Light charcoal
E)  Bayer aspirinF) B) and D)
G) A) and E)

Question 8

Which of the following statements about line extensions is most accurate?

Accepted Answer

A)  A line extension strategy typically leads to increased advertising costs.
B)  There are no risks associated with a line extension strategy.
C)  A line extension will not result in cannibalizing other products in the same class.
D)  A line extension is used with multiproduct branding.
E)  A line extension is used with multibranding.F) All of the above
G) A) and B)

Question 9

What role do people play in the managing of services? In answering the question, discuss the concept of customer experience management (CEM).

Accepted Answer

Many services depend on people for the c...

Question 10

Another name for multiproduct branding is __________ or corporate branding.

Accepted Answer

A)  mixed branding
B)  single branding
C)  co-branding
D)  family branding
E)  agent licensingF) A) and B)
G) C) and D)

Question 11

Define diffusion of innovation.Identify and describe the categories and profiles of each product adopter.

Accepted Answer

The diffusion of innovation is the exten...

Question 12

During the maturity stage of the product life cycle, profit declines because

Accepted Answer

A)  there are fewer and fewer competitors in the market.
B)  better products are only in the growth stage.
C)  production costs increase the more a firm has to manufacture the same product.
D)  there is fierce price competition among sellers.
E)  consumers become jaded and loose interest in the product.F) None of the above
G) D) and E)

Question 13

The less-expensive matinee movie pricing (offering show prior to 4:00 PM)  is an example of

Accepted Answer

A)  price lining.
B)  price differentiation.
C)  off-peak pricing.
D)  bait-and-switch pricing.
E)  package pricing.F) A) and B)
G) A) and C)

Question 14

Mars, Inc.sells Snickers, Milky Way, Twix, Skittles, Dove, Starburst, M&Ms, and Three Musketeer candy.This variety of names is typical of a __________ strategy.

Accepted Answer

A)  co-branding
B)  multibranding
C)  multiproduct
D)  mixed brand
E)  private brandingF) None of the above
G) A) and B)

Question 15

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

Accepted Answer

The manufacturer may use either a multip...

Question 16

Imagine Post Cereal introduces a cereal bar just like the ones Kellogg's and Quaker already have on the market.Post has decided to promote the bars using ads without coupons and to price the bars at about the same price as the other brands.Post Cereal bars will also be distributed to the same stores as the Kellogg's and Quaker products.Which of the following barriers to new product adoption will most likely prevent the Post Cereal bars from being a successful product?

Accepted Answer

A)  value barrier
B)  psychological barrier
C)  economic barrier
D)  usage barrier
E)  social barrierF) B) and D)
G) C) and D) A

Question 17

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

Accepted Answer

A)  If a firm's product is especially good, efforts should be made to create selective demand rather than primary demand in order to allow the firm to distinguish itself from competitors.
B)  During the introduction stage, it is best to avoid a skimming pricing strategy.
C)  During the introduction stage, it is best to avoid a penetration pricing strategy.
D)  A firm should introduce the identical product at several different price points in order to gauge customer price sensitivity.
E)  Because of large initial investment costs, industry profits often must go from negative to positive.F) None of the above
G) A) and E)

Question 18

Black & Decker uses a __________ strategy to reach the do-it-yourselfer market with the Black & Decker name and the construction professional market with the DeWalt name.

Accepted Answer

A)  generic branding
B)  multiproduct branding
C)  multibranding
D)  trademarked branding
E)  private brandingF) A) and B)
G) None of the above C

Question 19

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

Accepted Answer

A)  services do not have a recognizable lifecycle.
B)  consumer products have shorter life cycles than business products.
C)  packaged goods have a shorter life cycle than fads.
D)  technological change tends to lengthen product life cycles.
E)  there is a new product life cycle for each fashion product.F) All of the above
G) D) and E)

Question 20

Even though Liquid Paper correction fluid is in the _________ stage of the product life cycle, Sanford Corporation has not deleted it from its line because there is still a residual core of consumers who use the product.

Accepted Answer

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

Exam 11: Managing Successful Products, Services, and Brands

Correct Answer
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The key idea behind diffusion of innovation is that

Correct Answer
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FIGURE 11-3 -According to the text, the electric automobiles made by General Motors (see Figure 11-3 above) are in which stage of the product life cycle?

Correct Answer
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FIGURE 11-1 -The stage in the product life cycle labeled "A" in Figure 11-1 above is referred to as

Correct Answer
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The process of managing the entire customer experience with the company is called

Correct Answer
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FIGURE 11-8 -The "Dare to Have it All" ad shown in Figure 11.8 above, depicts a set of human characteristics associated with a brand name, which defines its _________.

Correct Answer
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B

Which of the following is the best choice of brand name for the product according to the five criteria for selecting a good brand name?

Correct Answer
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Which of the following statements about line extensions is most accurate?

Correct Answer
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What role do people play in the managing of services? In answering the question, discuss the concept of customer experience management (CEM).

Correct Answer
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Many services depend on people for the c...
View Answer

Another name for multiproduct branding is __________ or corporate branding.

Correct Answer
verified

Define diffusion of innovation.Identify and describe the categories and profiles of each product adopter.

Correct Answer
verified
The diffusion of innovation is the exten...
View Answer

During the maturity stage of the product life cycle, profit declines because

Correct Answer
verified

The less-expensive matinee movie pricing (offering show prior to 4:00 PM) is an example of

Correct Answer
verified

Mars, Inc.sells Snickers, Milky Way, Twix, Skittles, Dove, Starburst, M&Ms, and Three Musketeer candy.This variety of names is typical of a __________ strategy.

Correct Answer
verified

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

Correct Answer
verified
The manufacturer may use either a multip...
View Answer

Correct Answer
verified
A

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

Correct Answer
verified

Black & Decker uses a __________ strategy to reach the do-it-yourselfer market with the Black & Decker name and the construction professional market with the DeWalt name.

Correct Answer
verified
C

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

Correct Answer
verified

Even though Liquid Paper correction fluid is in the _________ stage of the product life cycle, Sanford Corporation has not deleted it from its line because there is still a residual core of consumers who use the product.

Correct Answer
verified

Exam 11: Managing Successful Products, Services, and Brands

Correct AnswerverifiedShow Answer

The key idea behind diffusion of innovation is that

Correct AnswerverifiedShow Answer

FIGURE 11-3 -According to the text, the electric automobiles made by General Motors (see Figure 11-3 above) are in which stage of the product life cycle?

Correct AnswerverifiedShow Answer

FIGURE 11-1 -The stage in the product life cycle labeled "A" in Figure 11-1 above is referred to as

Correct AnswerverifiedShow Answer

The process of managing the entire customer experience with the company is called

Correct AnswerverifiedShow Answer

FIGURE 11-8 -The "Dare to Have it All" ad shown in Figure 11.8 above, depicts a set of human characteristics associated with a brand name, which defines its _________.

Correct AnswerverifiedB

Which of the following is the best choice of brand name for the product according to the five criteria for selecting a good brand name?

Correct AnswerverifiedShow Answer

Which of the following statements about line extensions is most accurate?

Correct AnswerverifiedShow Answer

What role do people play in the managing of services? In answering the question, discuss the concept of customer experience management (CEM).

Correct AnswerverifiedMany services depend on people for the c...View AnswerShow Answer

Another name for multiproduct branding is __________ or corporate branding.

Correct AnswerverifiedShow Answer

Define diffusion of innovation.Identify and describe the categories and profiles of each product adopter.

Correct AnswerverifiedThe diffusion of innovation is the exten...View AnswerShow Answer

During the maturity stage of the product life cycle, profit declines because

Correct AnswerverifiedShow Answer

The less-expensive matinee movie pricing (offering show prior to 4:00 PM) is an example of

Correct AnswerverifiedShow Answer

Mars, Inc.sells Snickers, Milky Way, Twix, Skittles, Dove, Starburst, M&Ms, and Three Musketeer candy.This variety of names is typical of a __________ strategy.

Correct AnswerverifiedShow Answer

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

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

Correct AnswerverifiedA

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

Correct AnswerverifiedShow Answer

Black & Decker uses a __________ strategy to reach the do-it-yourselfer market with the Black & Decker name and the construction professional market with the DeWalt name.

Correct AnswerverifiedC

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

Correct AnswerverifiedShow Answer

Even though Liquid Paper correction fluid is in the _________ stage of the product life cycle, Sanford Corporation has not deleted it from its line because there is still a residual core of consumers who use the product.

Correct AnswerverifiedShow Answer

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B

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Many services depend on people for the c...
View Answer

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Correct Answer
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The diffusion of innovation is the exten...
View Answer

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Correct Answer
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Correct Answer
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The manufacturer may use either a multip...
View Answer

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A

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C

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