Question 1

Four key challenges that package and label designers face include: (1)  connecting with customers; (2)  environmental concerns; (3)  __________; and (4)  cost reduction.

Accepted Answer

A)  health, safety, and security issues
B)  competition from global markets
C)  patent and trademark issues
D)  governmental regulations
E)  cultural and societal issuesF) C) and D)
G) A) and B)

Question 2

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 scaleF) D) and E)
G) A) and E)

Question 3

All of the following are true about a skimming pricing strategy when used during the introduction stage of the product life cycle EXCEPT:

Accepted Answer

A)  it capitalizes on the price insensitivity of early buyers.
B)  its profit margins may be high.
C)  it encourages competitive entrants into the market.
D)  it recovers the R&D costs of the new offering.
E)  it helps build unit volumeF) A) and E)
G) A) and B)

Question 4

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

Accepted Answer

A)  there are fewer and fewer competitors in the market
B)  promotional expenditures increase
C)  production costs increase the more a firm has to manufacture the same product
D)  there is fierce price competition among sellers
E)  more consumers enter the market seeking bargainsF) A) and E)
G) A) and D)

Question 5

Interactive television with video-on-demand capabilities changes how people watch television and how consumers access the Internet. This technology requires that customers become informed and adapt behaviorally. What type of product life cycle would this product have?

Accepted Answer

A)  generalized
B)  high-learning
C)  low-learning
D)  fashion
E)  fadF) All of the above
G) A) and D)

Question 6

There are several reasons why a consumer might be reluctant to adopt a new product. For example, a consumer might be reluctant to adopt a new product because of a usage barrier, which occurs when __________.

Accepted Answer

A)  there is no incentive to change
B)  there are physical, economic, or social risks
C)  there are cultural differences
D)  the financial commitment is too great
E)  the product is not compatible with existing habitsF) A) and E)
G) C) 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 parity
B)  brand net worth
C)  brand equity
D)  brand benefit
E)  brand enhancementF) A) and B)
G) C) and D)

Question 8

Charging different prices during different times of the day or during different days of the week to reflect variations in demand for a service is referred to as

Accepted Answer

A)  capacity pricing.
B)  idle production pricing.
C)  customer contact pricing.
D)  derived demand pricing.
E)  off-peak pricing.F) C) and E)
G) A) and C)

Question 9

-The consumers represented by B in Figure 10-4 above are called __________.

Accepted Answer

A)  innovators
B)  late majority
C)  early majority
D)  early adopters
E)  laggardsF) B) and D)
G) A) and C)

Question 10

Kemps Dairy makes Life Savers Real Fruit Sherbet (with the flavors of a favorite childhood candy) . Kemps Dairy pays Wrigley, the owner of the Life Savers brand name, a fee to market this product. This is an example of __________.

Accepted Answer

A)  generic branding
B)  reseller licensing
C)  mixed branding
D)  brand licensing
E)  co-brandingF) A) and C)
G) A) and E)

Question 11

Which of the following quotes from a new product adopter would signal the need for a firm to counteract a risk barrier?

Accepted Answer

A)  "It is against my religion."
B)  "What if I can't make the monthly payments?"
C)  "I don't want to try this if it means I have to swallow it with milk."
D)  "Big deal, the only difference is the shape of the package."
E)  "Sure I'll try it; why not!"F) A) and E)
G) C) and D)

Question 12

The marketing objective for a product in the __________ stage of the product life cycle is to create consumer awareness and stimulate trial.

Accepted Answer

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

Question 13

-Figure 10-1 above represents the stages of the product life cycle. What does the portion of the curve labeled D represent?

Accepted Answer

A)  introduction
B)  deceleration
C)  maturity
D)  destabilization
E)  declineF) A) and E)
G) None of the above

Question 14

The desire for a product class rather than for a specific brand is called __________ demand.

Accepted Answer

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

Question 15

-Figure 10-5 above shows the sequential process of building brand equity. The third step is to elicit the proper consumer responses to a brand's identity and meaning. This step consists of two dimensions, D and E, which stand for __________ and __________.

Accepted Answer

A)  brand identity; brand emotion
B)  brand performance; brand imagery
C)  consumer judgments; consumer feelings
D)  brand awareness; consumer-brand connection
E)  consumer feelings; brand imageryF) A) and C)
G) C) and E)

Question 16

Known for its popular line of construction toys for boys, LEGOS introduced a product line for young girls called LEGO Friends. This is an example of which market modification strategy?

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) C) and E)

Question 17

Twenty years ago, the Mississippi Gulf Coast was a nice place to vacation with a white sandy beach, golfing opportunities, resort hotels, and good seafood restaurants. With the addition of casinos, the Gulf Coast improved its odds of being a tourist destination for more travelers. This is an example of a __________ strategy.

Accepted Answer

A)  market-product grid
B)  diversification
C)  product modification
D)  market modification
E)  product repositioningF) A) and B)
G) B) and D)

Question 18

-Figure 10-1 above represents the stages of the product life cycle. What does the portion of the curve labeled A represent?

Accepted Answer

A)  introduction
B)  maturity
C)  growth
D)  launch
E)  preparationF) A) and B)
G) C) and D)

Question 19

In 1984, IBM launched the PCjr, its first low-priced, educational/home personal computer. Sales were poor because IBM most likely violated which criterion of picking a good brand name?

Accepted Answer

A)  The name was not distinctive nor memorable.
B)  The name did not fit the company image.
C)  The name had too many legal restrictions.
D)  The name was too confusing with both capital and lowercase letters.
E)  The name failed to suggest the product benefits.F) A) and D)
G) None of the above

Question 20

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

Accepted Answer

A)  pocket video cameras
B)  hybrid vehicles
C)  3D HDTVs
D)  soft drinks
E)  tablet devicesF) All of the above
G) D) and E)

Exam 10: Managing Successful Products, Services, and Brands

In 1984, IBM launched the PCjr, its first low-priced, educational/home personal computer. Sales were poor because IBM most likely violated which criterion of picking a good brand name?

Correct Answer
verified

-Figure 10-5 above shows the sequential process of building brand equity. The third step is to elicit the proper consumer responses to a brand's identity and meaning. This step consists of two dimensions, D and E, which stand for and .

Correct Answer
verified

Charging different prices during different times of the day or during different days of the week to reflect variations in demand for a service is referred to as

Correct Answer
verified

-Figure 10-1 above represents the stages of the product life cycle. What does the portion of the curve labeled D represent?

Correct Answer
verified

Interactive television with video-on-demand capabilities changes how people watch television and how consumers access the Internet. This technology requires that customers become informed and adapt behaviorally. What type of product life cycle would this product have?

Correct Answer
verified

-Figure 10-1 above represents the stages of the product life cycle. What does the portion of the curve labeled A represent?

Correct Answer
verified

Correct Answer
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Kemps Dairy makes Life Savers Real Fruit Sherbet (with the flavors of a favorite childhood candy) . Kemps Dairy pays Wrigley, the owner of the Life Savers brand name, a fee to market this product. This is an example of __________.

Correct Answer
verified

The marketing objective for a product in the __________ stage of the product life cycle is to create consumer awareness and stimulate trial.

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

-The consumers represented by B in Figure 10-4 above are called __________.

Correct Answer
verified

Which of the following quotes from a new product adopter would signal the need for a firm to counteract a risk barrier?

Correct Answer
verified

The desire for a product class rather than for a specific brand is called __________ demand.

Correct Answer
verified

Product modification refers to a marketing strategy that __________.

Correct Answer
verified

Known for its popular line of construction toys for boys, LEGOS introduced a product line for young girls called LEGO Friends. This is an example of which market modification strategy?

Correct Answer
verified

All of the following are true about a skimming pricing strategy when used during the introduction stage of the product life cycle EXCEPT:

Correct Answer
verified

There are several reasons why a consumer might be reluctant to adopt a new product. For example, a consumer might be reluctant to adopt a new product because of a usage barrier, which occurs when __________.

Correct Answer
verified

Four key challenges that package and label designers face include: (1) connecting with customers; (2) environmental concerns; (3) __________; and (4) cost reduction.

Correct Answer
verified

Exam 10: Managing Successful Products, Services, and Brands

In 1984, IBM launched the PCjr, its first low-priced, educational/home personal computer. Sales were poor because IBM most likely violated which criterion of picking a good brand name?

Correct AnswerverifiedShow Answer

-Figure 10-5 above shows the sequential process of building brand equity. The third step is to elicit the proper consumer responses to a brand's identity and meaning. This step consists of two dimensions, D and E, which stand for __________ and __________.

Correct AnswerverifiedShow Answer

Charging different prices during different times of the day or during different days of the week to reflect variations in demand for a service is referred to as

Correct AnswerverifiedShow Answer

-Figure 10-1 above represents the stages of the product life cycle. What does the portion of the curve labeled D represent?

Correct AnswerverifiedShow Answer

Interactive television with video-on-demand capabilities changes how people watch television and how consumers access the Internet. This technology requires that customers become informed and adapt behaviorally. What type of product life cycle would this product have?

Correct AnswerverifiedShow Answer

-Figure 10-1 above represents the stages of the product life cycle. What does the portion of the curve labeled A represent?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Kemps Dairy makes Life Savers Real Fruit Sherbet (with the flavors of a favorite childhood candy) . Kemps Dairy pays Wrigley, the owner of the Life Savers brand name, a fee to market this product. This is an example of __________.

Correct AnswerverifiedShow Answer

The marketing objective for a product in the __________ stage of the product life cycle is to create consumer awareness and stimulate trial.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

-The consumers represented by B in Figure 10-4 above are called __________.

Correct AnswerverifiedShow Answer

Which of the following quotes from a new product adopter would signal the need for a firm to counteract a risk barrier?

Correct AnswerverifiedShow Answer

The desire for a product class rather than for a specific brand is called __________ demand.

Correct AnswerverifiedShow Answer

Product modification refers to a marketing strategy that __________.

Correct AnswerverifiedShow Answer

Known for its popular line of construction toys for boys, LEGOS introduced a product line for young girls called LEGO Friends. This is an example of which market modification strategy?

Correct AnswerverifiedShow Answer

All of the following are true about a skimming pricing strategy when used during the introduction stage of the product life cycle EXCEPT:

Correct AnswerverifiedShow Answer

There are several reasons why a consumer might be reluctant to adopt a new product. For example, a consumer might be reluctant to adopt a new product because of a usage barrier, which occurs when __________.

Correct AnswerverifiedShow Answer

Four key challenges that package and label designers face include: (1) connecting with customers; (2) environmental concerns; (3) __________; and (4) cost reduction.

Correct AnswerverifiedShow Answer

Correct Answer
verified

-Figure 10-5 above shows the sequential process of building brand equity. The third step is to elicit the proper consumer responses to a brand's identity and meaning. This step consists of two dimensions, D and E, which stand for and .

Correct Answer
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