Question 1

The formula to calculate a 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)  The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry,including the firm itself.F) C) and E)
G) D) and E)

Question 2

The Reynolds's Aluminum foil box has two side tabs that say "Press Here to Lock Roll" to keep the roll of foil in place during use.This demonstrates which elements of good packaging?

Accepted Answer

A)  perceptual benefits and functional benefits
B)  protection benefits and functional benefits
C)  communication benefits and perceptual benefits
D)  communication benefits and functional benefits
E)  functional benefits and protection benefitsF) B) and C)
G) A) and E)

Question 3

Brand equity provides a financial advantage for a brand's owner because successful,established brand names have an economic value in the sense that they are __________.

Accepted Answer

A)  tangible assets
B)  intangible assets
C)  durable goods
D)  nondurable goods
E)  intangible equityF) None of the above
G) A) and C)

Question 4

Free samples are one of the most popular means to gain consumer trial.In fact,most consumers consider a sample to __________.

Accepted Answer

A)  simulate laggard usage of the product
B)  be the best way to evaluate a new product
C)  be faster than purchasing a product
D)  be safer than purchasing a product
E)  circumvent the typical adoption cycleF) All of the above
G) B) and E)

Question 5

A branding strategy in which a firm markets some products under its own name(s) and other products under the name of a reseller because the segment attracted to the reseller is different from its own market is referred to as __________.

Accepted Answer

A)  multibranding
B)  generic branding
C)  private branding
D)  mixed branding
E)  multiproduct brandingF) B) and D)
G) A) and D)

Question 6

Explain the difference between primary demand and selective demand.

Accepted Answer

Primary demand is a desire for...

Question 7

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

Accepted Answer

A)  product differentiation branding
B)  multiproduct branding
C)  multibranding
D)  segmentation branding
E)  private brandingF) C) and D)
G) None of the above

Question 8

A manufacturer of a new all-natural-ingredient shampoo and conditioner puts free samples of the product in Sunday newspapers to __________.

Accepted Answer

A)  simulate laggard usage of the product
B)  inhibit the innovation diffusion process
C)  encourage product trial and adoption
D)  erect product adoption barriers against its competitors
E)  circumvent the typical adoption cycleF) C) and D)
G) B) and D)

Question 9

3D OLED (organic light-emitting diode) HDTVs,such as the 55"model from LG Electronics shown above that costs about $10,000,are in which stage of their product life cycle?

Accepted Answer

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

Question 10

Brand licensing refers to __________.

Accepted Answer

A)  the registration fee paid by a manufacturer to states,provinces,or countries in order to sell its products there
B)  a branding strategy in which the producer dictates the brand name to retailers for the products sold to their respective markets
C)  a branding strategy in which a company uses one name for all of its products
D)  a contractual agreement whereby a company allows another firm to use its brand name or trademark with its products or services for a royalty or fee
E)  a branding strategy in which manufacturers produce products but sell them under the brand name of a wholesaler or retailerF) A) and C)
G) B) and E)

Question 11

In terms of the diffusion of innovation,early majority accounts for __________ of product adopters.

Accepted Answer

A)  2.5%
B)  13.5%
C)  16%
D)  34%
E)  50%F) A) and B)
G) A) and C)

Question 12

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

Accepted Answer

A)  there is no incentive to change
B)  there are physical,economic,or social risks
C)  the product is not consistent with existing habits
D)  the financial commitment is too great
E)  it affects one's imageF) A) and E)
G) C) and D)

Question 13

Pretzels were first introduced as a salty snack.Later,the product was repositioned as a low-fat snack in order to __________.

Accepted Answer

A)  respond to a competitor's head-to-head positioning strategy
B)  reach a new market
C)  catch a rising trend
D)  change the value offered
E)  change its target audienceF) C) and D)
G) A) and D)

Question 14

A trademark refers to

Accepted Answer

A)  any word,device (design,sound,shape or color) ,or combination of these used to distinguish a seller's products or services.
B)  the part of a brand that can be spoken.
C)  the part of a brand that is a symbol or design and cannot be vocalized.
D)  the commercial,legal name under which a company does business.
E)  the identification that a firm has legally registered its brand name or trade name so the firm has its exclusive use,thereby preventing others from using it.F) A) and B)
G) C) and E)

Question 15

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) C) and E)
G) C) and D)

Question 16

Warranties that have no limits of noncoverage are called __________ warranties.

Accepted Answer

A)  guaranteed
B)  full
C)  implied
D)  coverage
E)  expressF) A) and E)
G) A) and D)

Question 17

Which of the following products would have a fashion product life cycle curve?

Accepted Answer

A)  high-top sneakers
B)  parabolic skis
C)  personal flotation devices
D)  razor blades
E)  hockey helmetsF) A) and E)
G) B) and E)

Question 18

The sale of two or more separate products in one package is referred to as

Accepted Answer

A)  a BOGO deal.
B)  product modification.
C)  product repositioning.
D)  product bundling.
E)  product differentiation.F) B) and D)
G) A) and B)

Question 19

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 strategyF) A) and B)
G) A) and E)

Question 20

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)  mixed brandingF) A) and D)
G) B) and D)

Exam 11: Managing Successful Products, Services, and Brands

Warranties that have no limits of noncoverage are called __________ warranties.

Correct AnswerverifiedShow Answer

3D OLED (organic light-emitting diode) HDTVs,such as the 55"model from LG Electronics shown above that costs about $10,000,are in which stage of their product life cycle?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following products would have a fashion product life cycle curve?

Correct AnswerverifiedShow Answer

Free samples are one of the most popular means to gain consumer trial.In fact,most consumers consider a sample to __________.

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

Brand licensing refers to __________.

Correct AnswerverifiedShow Answer

In terms of the diffusion of innovation,early majority accounts for __________ of product adopters.

Correct AnswerverifiedShow Answer

A manufacturer of a new all-natural-ingredient shampoo and conditioner puts free samples of the product in Sunday newspapers to __________.

Correct AnswerverifiedShow Answer

The Reynolds's Aluminum foil box has two side tabs that say "Press Here to Lock Roll" to keep the roll of foil in place during use.This demonstrates which elements of good packaging?

Correct AnswerverifiedShow Answer

A trademark refers to

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

Pretzels were first introduced as a salty snack.Later,the product was repositioned as a low-fat snack in order to __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Brand equity provides a financial advantage for a brand's owner because successful,established brand names have an economic value in the sense that they are __________.

Correct AnswerverifiedShow Answer

The sale of two or more separate products in one package is referred to as

Correct AnswerverifiedShow Answer

The formula to calculate a BDI = __________.

Correct AnswerverifiedShow Answer

A branding strategy in which a firm markets some products under its own name(s) and other products under the name of a reseller because the segment attracted to the reseller is different from its own market is referred to as __________.

Correct AnswerverifiedShow Answer

Explain the difference between primary demand and selective demand.

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