Question 1

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. The two indexes, CDI and BDI, stand for

Accepted Answer

A)  comprehensive demographic inventory and brand designation information.
B)  consumer demographic index and buyer demographic inventory.
C)  category development index and brand development index.
D)  consumer development index and brand development inventory.
E)  category development index and buyer development inventory.

Question 2

The initial purchase of a product by a consumer is referred to as

Accepted Answer

A)  a product sampling.
B)  a first buy.
C)  a trial.
D)  an assessment.
E)  an examination period.

Question 3

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

Accepted Answer

A)  "But it might make me fat."
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!"

Question 4

Imagine that Eveready has developed solar rechargeable batteries that cost only slightly more to produce than the rechargeable batteries currently available. These solar batteries can be recharged by sunlight up to five times, after which they are to be discarded. Unfortunately, the production process cannot be patented, so competitors could enter the market within a year. Which of the following is the best description of the product life cycle of this product?

Accepted Answer

A)  rapid growth followed by rapid decline
B)  long, level beginning, and rapid ascent
C)  moderately slow introduction, followed by modest growth, gradually leveling off
D)  high introductory sales followed by rapid decline
E)  high initial sales followed by slow decline

Question 5

According to the textbook, which of the following is the most counterfeited branded product?

Accepted Answer

A)  shoes
B)  watches and jewelry
C)  handbags and wallets
D)  clothing and accessories
E)  consumer electronics

Question 6

When consumers think of Harley-Davidson, the image is of a masculine, nonconformist. With Vespa motor scooters, the image is of a brainy environmentalist. Both Vespa and Harley-Davidson

Accepted Answer

A)  have brand personalities.
B)  avoid brand subcultures.
C)  are logotypes.
D)  use co-branding.
E)  use product personification.

Question 7

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

Accepted Answer

A)  2.5
B)  13.5
C)  16
D)  34
E)  50

Question 8

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 distribution

Question 9

The Reynolds Wrap 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 benefits

Question 10

Xunrui Communications is an upstart maker of inexpensive smartphones for the Chinese market. Xunrui purchases the components for the items, which are then sent to small assembly factories in Shenzhen, located in southern China. These smartphones retail for about $65, significantly less than the $250 to $600 for smartphones marketed by Apple or Samsung, the top two marketers of these items. Xunrui Communications most likely is using which pricing strategy in this example?

Accepted Answer

A)  penetration pricing
B)  cost-plus pricing
C)  target ROI pricing
D)  above-market pricing
E)  skimming pricing

Question 11

There are four stages of the product life cycle. What does the second stage of the product life cycle represent?

Accepted Answer

A)  introduction
B)  maturity
C)  growth
D)  accelerated development
E)  decline

Question 12

A product in the introduction stage of its product life cycle should have which of the following marketing objective(s) ?

Accepted Answer

A)  stress differentiation
B)  gain awareness and stimulate trial
C)  foster brand loyalty
D)  gain as much distribution as possible
E)  target a marketing niche

Question 13

Directions on how and when to use a product and information about the source and composition of a product that appear on packaging labels provide what kind of benefits?

Accepted Answer

A)  communication benefits
B)  storage benefits
C)  perceptual benefits
D)  protection benefits
E)  self-realization benefits

Question 14

Which of the following statements regarding labels is most accurate?

Accepted Answer

A)  Although labels are can carry useful information, the less information communicated, the better.
B)  The brand logo or brand name should always be the largest image on a label.
C)  Labels can be very expensive, but they are important because they often are the first contact the consumer has with the product.
D)  The best labels to use on food products are those that can be easily removed to promote recycling of the package.
E)  One penny for every dollar consumers spend on products goes toward packaging and labeling costs.

Question 15

Products tend to consume a disproportionate share of management and financial resources relative to their future worth throughout which stage of the product life cycle?

Accepted Answer

A)  innovation
B)  growth
C)  maturity
D)  decline
E)  harvest

Question 16

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

Accepted Answer

A)  "But it might make me fat."
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!"

Question 17

The central element of the marketing strategy for Pez Candy, Inc., is the

Accepted Answer

A)  price.
B)  breath mint.
C)  availability.
D)  container.
E)  fulfillment.

Question 18

All of the following are market modification strategies except

Accepted Answer

A)  creating a new use situation.
B)  finding new customers.
C)  changing a product's appearance.
D)  targeting new market segments.
E)  increasing a product's use among existing customers.

Question 19

The primary purpose of a trademark is to

Accepted Answer

A)  legally protect a product's brand name or trade name and prevent others from using it.
B)  allow a company to use the brand name on multiple products in its product line.
C)  legally identify the product as having met government standards for its product item.
D)  help consumers identify a genuine product from a counterfeit product.
E)  capitalize on the brand equity a consumer associates with the symbol, sound, or image.

Question 20

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

Accepted Answer

A)  A product line extension strategy typically leads to increased advertising costs.
B)  There are no risks associated with a product line extension strategy.
C)  When the Clorox Co. joins with Kroger supermarkets to advertise Clorox products in a local newspaper, it is engaged in a product line extension.
D)  A product line extension is a form of multiproduct branding.
E)  A product line extension is a form of multibranding.

Exam 11: Managing Successful Products Services and Brands

Products tend to consume a disproportionate share of management and financial resources relative to their future worth throughout which stage of the product life cycle?

Correct Answer
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Correct Answer
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Directions on how and when to use a product and information about the source and composition of a product that appear on packaging labels provide what kind of benefits?

Correct Answer
verified

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

Correct Answer
verified

The primary purpose of a trademark is to

Correct Answer
verified

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

Correct Answer
verified

When consumers think of Harley-Davidson, the image is of a masculine, nonconformist. With Vespa motor scooters, the image is of a brainy environmentalist. Both Vespa and Harley-Davidson

Correct Answer
verified

According to the textbook, which of the following is the most counterfeited branded product?

Correct Answer
verified

There are four stages of the product life cycle. What does the second stage of the product life cycle represent?

Correct Answer
verified

Correct Answer
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Which of the following is a product modification strategy?

Correct Answer
verified

Which of the following statements regarding labels is most accurate?

Correct Answer
verified

A product in the introduction stage of its product life cycle should have which of the following marketing objective(s) ?

Correct Answer
verified

All of the following are market modification strategies except

Correct Answer
verified

The initial purchase of a product by a consumer is referred to as

Correct Answer
verified

The Reynolds Wrap 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 Answer
verified

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. The two indexes, CDI and BDI, stand for

Correct Answer
verified

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

Correct Answer
verified

The central element of the marketing strategy for Pez Candy, Inc., is the

Correct Answer
verified

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

Correct Answer
verified

Exam 11: Managing Successful Products Services and Brands

Products tend to consume a disproportionate share of management and financial resources relative to their future worth throughout which stage of the product life cycle?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Directions on how and when to use a product and information about the source and composition of a product that appear on packaging labels provide what kind of benefits?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The primary purpose of a trademark is to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When consumers think of Harley-Davidson, the image is of a masculine, nonconformist. With Vespa motor scooters, the image is of a brainy environmentalist. Both Vespa and Harley-Davidson

Correct AnswerverifiedShow Answer

According to the textbook, which of the following is the most counterfeited branded product?

Correct AnswerverifiedShow Answer

There are four stages of the product life cycle. What does the second stage of the product life cycle represent?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is a product modification strategy?

Correct AnswerverifiedShow Answer

Which of the following statements regarding labels is most accurate?

Correct AnswerverifiedShow Answer

A product in the introduction stage of its product life cycle should have which of the following marketing objective(s) ?

Correct AnswerverifiedShow Answer

All of the following are market modification strategies except

Correct AnswerverifiedShow Answer

The initial purchase of a product by a consumer is referred to as

Correct AnswerverifiedShow Answer

The Reynolds Wrap 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

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. The two indexes, CDI and BDI, stand for

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The central element of the marketing strategy for Pez Candy, Inc., is the

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
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