Question 1

Toyota, a well-established, reputable brand, recently introduced a new line of vehicles under the Scion brand, targeted at young car buyers. Toyota probably used the new brand to

Accepted Answer

A)   lower advertising costs.
B)   appeal to a different market segment.
C)   reinforce the Toyota brand image.
D)   exploit brand loyalty to Toyota.
E)   lower product development costs.Toyota probably chose to use a new brand to target young people.

Question 2

Private-label brands are imitations often sold by street vendors.
A private-label brand is a retailer or store brand, developed by retailers to be sold only within their own stores.

Accepted Answer

A) True 
 B)False

Question 3

Laura prefers Sony products and will only purchase alternatives when there are no Sony products available. Laura's brand loyalty means she is most likely

Accepted Answer

A)   relatively insensitive to price.
B)   uninformed about the product category.
C)   product category committed.
D)   a brand equity investor.
E)   a savvy consumer.Because Laura is loyal to Sony, she is likely to stay with the brand even if the price rises or if competitors offer cheaper options. This means that she is less price sensitive.

Question 4

Provide a real-world example of a national brand and a private-label brand.

Accepted Answer

Answers will vary, but the national bran...

Question 5

The company Jorge works for has just acquired a regional grocery store chain. The chain has a very strong reputation among consumers in the states in which it operates. The acquired company owns several private-label brands. Jorge has been asked to prepare a brief about the options for retaining the private-label brands that the chain had been selling. What are the key points Jorge should include?

Accepted Answer

In addition to all the considerations ab...

Question 6

Brand __________ is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.

Accepted Answer

A)   positioning
B)   licensing
C)   association
D)   equity
E)   solvencyThis is the definition of brand equity.

Question 7

A __________ brand is one where there is a contractual arrangement between firms allowing one to use its brand name for a fee.

Accepted Answer

A)   franchise
B)   joint venture
C)   shared
D)   common use
E)   licensedThis is the definition of a licensed brand, such as Ralph Lauren, which firms pay a fee to use.

Question 8

Which of the following is NOT one of the important functions of labels on products and packages?

Accepted Answer

A)   protecting against damage to the product
B)   providing consumer information to assist in purchasing
C)   identifying the brand and building brand image
D)   promoting the brand or complementary brands
E)   listing ingredientsThe package might protect against damage to the product, but that is not a function of the label.

Question 9

For the average college student, a retirement account would be a shopping product.
Most college students are not thinking of preparing for retirement, so a retirement account would be an unsought product.

Accepted Answer

A) True 
 B)False

Question 10

Andy likes gourmet popcorn and will spend time trying to find his favorite brand. His girlfriend, Joanne, loves popcorn but doesn't care about brands. For Andy, popcorn is a __________ good while for Joanne it is a __________ good.

Accepted Answer

A)   shopping; specialty
B)   convenience; shopping
C)   convenience; specialty
D)   specialty; convenience
E)   unique; universalFor Andy, popcorn is a specialty product-he is willing to spend time finding his favorite brand. For Joanne, it is a convenience good-she doesn't care about brands and so is unlikely to comparison shop.

Question 11

What is the advantage of a corporate or family brand? Provide an example of one.

Accepted Answer

All products sold under the co...

Question 12

Why do manufacturers like Procter & Gamble spend millions of dollars annually creating and maintaining their brands? Why don't they just manufacture their products and sell them under store brand labels?

Accepted Answer

Creating and maintaining national brands...

Question 13

Shell MasterCard, created cooperatively by Shell Oil Company and Master Card, is an example of

Accepted Answer

A)   co-branding.
B)   brand extraction.
C)   brand collusion.
D)   a generic brand.
E)   brand dilution.This is a co-branding arrangement, in which two brands lend their names to a cooperative venture.

Question 14

Think of the car you are currently driving, or an article of clothing you are wearing. Name three brand associations that are common with this car or clothing. Explain how these associations might influence someone's decision to buy these products.

Accepted Answer

Students should demonstrate an...

Question 15

Lionel Smith Ltd. is a traditional men's clothing store. Every fall the owner sends an embossed invitation (much like a wedding invitation)  to his regular customers, inviting them to a private reception showing the new fall line of clothes. For Lionel Smith Ltd., one of the benefits of having established a loyal customer base is

Accepted Answer

A)   recognition through industry awards.
B)   lower marketing costs associated with reaching loyal customers.
C)   that he can be less concerned about competitors' actions.
D)   increased price sensitivity among loyal customers.
E)   less need for concern about product quality.Loyal customers are less likely to switch brands due to competitor actions.

Question 16

When a company launches a new product line with an existing brand name, this is known as

Accepted Answer

A)   a brand extension.
B)   a line extension.
C)   a multi-brand.
D)   a new brand.
E)   co-branding.A brand extension refers to the use of the same brand name for a new product line.

Question 17

Zappos, an online shoe company, knows shoes are typically a(n)  __________ good, with consumers often spending time comparing alternatives. They overcome that aspect of consumers' search process by offering a free, no questions asked return policy.

Accepted Answer

A)   specialty
B)   shopping
C)   convenience
D)   ritual
E)   impulseShoes are typically a shopping good, where consumers compare alternatives.

Question 18

Matt was passionate about Abercrombie & Fitch. It was the only place he'd buy his clothes. If anyone asked him about clothes, he would talk for what seemed like hours about why he only shopped there. From a strictly marketing perspective, this word of mouth is an element of

Accepted Answer

A)   social marketing.
B)   brand loyalty.
C)   self-actualization.
D)   motivation.
E)   brand extension.Matt's word of mouth behavior is an outcome of his brand loyalty.

Question 19

Marketers selling milk, bread, and other consumer staples know most customers do not spend much time searching or comparing alternatives. For most consumers, these are _____________ goods.

Accepted Answer

A)   specialty
B)   shopping
C)   convenience
D)   ritual
E)   impulseMilk, bread, and other consumer staples are convenience goods for most shoppers. They will not compare many alternatives, but will simply purchase what they need.

Question 20

One important purpose of a brand is to

Accepted Answer

A)   sell advertising space.
B)   minimize product line depth needed to be effective.
C)   increase consumer recognition and awareness of product offerings.
D)   inform product packaging.
E)   meet government regulations.Brands help consumers know what products are available under that name.

Exam 11: Product, Branding, and Packaging Decisions

Matt was passionate about Abercrombie & Fitch. It was the only place he'd buy his clothes. If anyone asked him about clothes, he would talk for what seemed like hours about why he only shopped there. From a strictly marketing perspective, this word of mouth is an element of

Correct Answer
verified

Toyota, a well-established, reputable brand, recently introduced a new line of vehicles under the Scion brand, targeted at young car buyers. Toyota probably used the new brand to

Correct Answer
verified

Think of the car you are currently driving, or an article of clothing you are wearing. Name three brand associations that are common with this car or clothing. Explain how these associations might influence someone's decision to buy these products.

Correct Answer
verified
Students should demonstrate an...
View Answer

For the average college student, a retirement account would be a shopping product. Most college students are not thinking of preparing for retirement, so a retirement account would be an unsought product.

Correct Answer
verified

Brand __________ is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.

Correct Answer
verified

Shell MasterCard, created cooperatively by Shell Oil Company and Master Card, is an example of

Correct Answer
verified

Laura prefers Sony products and will only purchase alternatives when there are no Sony products available. Laura's brand loyalty means she is most likely

Correct Answer
verified

One important purpose of a brand is to

Correct Answer
verified

When a company launches a new product line with an existing brand name, this is known as

Correct Answer
verified

Marketers selling milk, bread, and other consumer staples know most customers do not spend much time searching or comparing alternatives. For most consumers, these are _____________ goods.

Correct Answer
verified

Correct Answer
verified

Zappos, an online shoe company, knows shoes are typically a(n) __________ good, with consumers often spending time comparing alternatives. They overcome that aspect of consumers' search process by offering a free, no questions asked return policy.

Correct Answer
verified

Andy likes gourmet popcorn and will spend time trying to find his favorite brand. His girlfriend, Joanne, loves popcorn but doesn't care about brands. For Andy, popcorn is a good while for Joanne it is a good.

Correct Answer
verified

What is the advantage of a corporate or family brand? Provide an example of one.

Correct Answer
verified
All products sold under the co...
View Answer

Provide a real-world example of a national brand and a private-label brand.

Correct Answer
verified
Answers will vary, but the national bran...
View Answer

Why do manufacturers like Procter & Gamble spend millions of dollars annually creating and maintaining their brands? Why don't they just manufacture their products and sell them under store brand labels?

Correct Answer
verified
Creating and maintaining national brands...
View Answer

A __________ brand is one where there is a contractual arrangement between firms allowing one to use its brand name for a fee.

Correct Answer
verified

Private-label brands are imitations often sold by street vendors. A private-label brand is a retailer or store brand, developed by retailers to be sold only within their own stores.

Correct Answer
verified

Correct Answer
verified
In addition to all the considerations ab...
View Answer

Which of the following is NOT one of the important functions of labels on products and packages?

Correct Answer
verified

Exam 11: Product, Branding, and Packaging Decisions

Matt was passionate about Abercrombie & Fitch. It was the only place he'd buy his clothes. If anyone asked him about clothes, he would talk for what seemed like hours about why he only shopped there. From a strictly marketing perspective, this word of mouth is an element of

Correct AnswerverifiedShow Answer

Toyota, a well-established, reputable brand, recently introduced a new line of vehicles under the Scion brand, targeted at young car buyers. Toyota probably used the new brand to

Correct AnswerverifiedShow Answer

Think of the car you are currently driving, or an article of clothing you are wearing. Name three brand associations that are common with this car or clothing. Explain how these associations might influence someone's decision to buy these products.

Correct AnswerverifiedStudents should demonstrate an...View AnswerShow Answer

For the average college student, a retirement account would be a shopping product. Most college students are not thinking of preparing for retirement, so a retirement account would be an unsought product.

Correct AnswerverifiedShow Answer

Brand __________ is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.

Correct AnswerverifiedShow Answer

Shell MasterCard, created cooperatively by Shell Oil Company and Master Card, is an example of

Correct AnswerverifiedShow Answer

Laura prefers Sony products and will only purchase alternatives when there are no Sony products available. Laura's brand loyalty means she is most likely

Correct AnswerverifiedShow Answer

One important purpose of a brand is to

Correct AnswerverifiedShow Answer

When a company launches a new product line with an existing brand name, this is known as

Correct AnswerverifiedShow Answer

Marketers selling milk, bread, and other consumer staples know most customers do not spend much time searching or comparing alternatives. For most consumers, these are _____________ goods.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Zappos, an online shoe company, knows shoes are typically a(n) __________ good, with consumers often spending time comparing alternatives. They overcome that aspect of consumers' search process by offering a free, no questions asked return policy.

Correct AnswerverifiedShow Answer

Andy likes gourmet popcorn and will spend time trying to find his favorite brand. His girlfriend, Joanne, loves popcorn but doesn't care about brands. For Andy, popcorn is a __________ good while for Joanne it is a __________ good.

Correct AnswerverifiedShow Answer

What is the advantage of a corporate or family brand? Provide an example of one.

Correct AnswerverifiedAll products sold under the co...View AnswerShow Answer

Provide a real-world example of a national brand and a private-label brand.

Correct AnswerverifiedAnswers will vary, but the national bran...View AnswerShow Answer

Why do manufacturers like Procter & Gamble spend millions of dollars annually creating and maintaining their brands? Why don't they just manufacture their products and sell them under store brand labels?

Correct AnswerverifiedCreating and maintaining national brands...View AnswerShow Answer

A __________ brand is one where there is a contractual arrangement between firms allowing one to use its brand name for a fee.

Correct AnswerverifiedShow Answer

Private-label brands are imitations often sold by street vendors. A private-label brand is a retailer or store brand, developed by retailers to be sold only within their own stores.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedIn addition to all the considerations ab...View AnswerShow Answer

Which of the following is NOT one of the important functions of labels on products and packages?

Correct AnswerverifiedShow Answer

Correct Answer
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Students should demonstrate an...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Andy likes gourmet popcorn and will spend time trying to find his favorite brand. His girlfriend, Joanne, loves popcorn but doesn't care about brands. For Andy, popcorn is a good while for Joanne it is a good.

Correct Answer
verified

Correct Answer
verified
All products sold under the co...
View Answer

Correct Answer
verified
Answers will vary, but the national bran...
View Answer

Correct Answer
verified
Creating and maintaining national brands...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
In addition to all the considerations ab...
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Correct Answer
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