Question 1

A strategy of dropping a product from the product line during the decline stage of the product life cycle is referred to as

Accepted Answer

A)  trimming.
B)  elimination.
C)  paring down.
D)  deletion.
E)  harvesting.F) A) and D)
G) All of the above

Question 2

Any container in which a product is offered for sale and on which information is communicated is referred to as

Accepted Answer

A)  a point-of-purchase display.
B)  merchandising.
C)  packaging.
D)  a label.
E)  a product bundle.F) A) and E)
G) None of the above

Question 3

When a company retains a product but reduces marketing costs, it is referred to as

Accepted Answer

A)  skimming.
B)  harvesting.
C)  milking.
D)  deletion.
E)  divesting.F) B) and E)
G) None of the above

Question 4

Warranties that assign responsibility for product deficiencies to the manufacturer are called __________ warranties.

Accepted Answer

A)  guaranteed
B)  quality control
C)  implied
D)  strict-liability
E)  expressF) A) and B)
G) A) and C)

Question 5

All of the following marketing actions can be used by a firm to counteract barriers to product adoption except

Accepted Answer

A)  offering money-back guarantees.
B)  targeting new consumers.
C)  conducting demonstrations.
D)  offering free samples.
E)  providing extensive usage instructions.F) D) and E)
G) A) and D)

Question 6

The marketing of low-cost copies of popular brands not manufactured by the original producer is referred to as

Accepted Answer

A)  brand cannibalization.
B)  co-branding.
C)  brand imitation.
D)  product counterfeiting.
E)  re-manufacturing.F) B) and C)
G) B) and E)

Question 7

The __________ stage of the product life cycle is characterized by rapid increases in sales.

Accepted Answer

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

Question 8

Combining a corporate or family brand with a new brand to distinguish a part of its product line from others is referred to as

Accepted Answer

A)  subbranding.
B)  multibranding.
C)  mixed branding.
D)  private branding.
E)  family branding.F) A) and B)
G) A) and C)

Question 9

When Coca-Cola promoted Coke as a morning beverage for those consumers who don't drink coffee, it used a __________ strategy.

Accepted Answer

A)  product modification
B)  brand modification
C)  market-product extension
D)  diversification
E)  market modificationF) C) and D)
G) B) and C)

Question 10

When a product reaches the decline stage of the product life cycle, a firm has two choices. One choice involves product deletion-dropping it from a firm's product line. The other is called __________, which retains the product in the product line but reduces marketing costs.

Accepted Answer

A)  reaping
B)  paring down
C)  divesting
D)  milking
E)  harvestingF) All of the above
G) A) and B)

Question 11

If a figure that depicts years and retail sales of digital music shows from 2007 to 2015 the sales were rising rapidly, this indicates that in 2007 digital music was in which stage of the product life cycle?

Accepted Answer

A)  introduction
B)  growth
C)  maturity
D)  harvest
E)  declineF) A) and C)
G) All of the above

Question 12

One of the primary benefits of branding for consumers is that branding

Accepted Answer

A)  identifies products of highest quality.
B)  guarantees lowest prices.
C)  makes decision making easier for consumers.
D)  indicates that products have more features.
E)  makes advertising unnecessary.F) A) and E)
G) All of the above

Question 13

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 D)
G) B) and D)

Question 14

Nike has successfully used __________ with its lines Air Jordan and Air Lebron.

Accepted Answer

A)  family branding
B)  subbranding
C)  multiproduct branding
D)  mixed branding
E)  generic brandingF) A) and D)
G) A) and C)

Question 15

The time a product can be stored before it spoils is referred to as its

Accepted Answer

A)  product life cycle.
B)  use-by date.
C)  spoilage index.
D)  shelf life.
E)  expiration date.F) A) and E)
G) B) and D)

Question 16

Consider the four steps in the sequential process of building brand equity. The fourth and last step is to

Accepted Answer

A)  elicit the proper consumer responses to a brand's identity and meaning.
B)  develop positive brand awareness.
C)  reward loyal customer behavior.
D)  establish a brand's meaning in the minds of consumers.
E)  create a consumer-brand connection.F) A) and C)
G) B) and C)

Question 17

Companies can choose from several different branding strategies. Companies such as Michelin with Michelin tires and Sears tires are using a __________ strategy.

Accepted Answer

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

Question 18

All of the following are true about product line extensions except

Accepted Answer

A)  this strategy can result in lower advertising and promotion costs.
B)  a risk that comes with product line extensions is that sales of an extension may come at the expense of other items in the company's product line.
C)  a product line extension raises the level of brand awareness.
D)  line extensions work best when they provide incremental company revenue by taking sales away from competing brands.
E)  product line extensions involve using a current brand name to enter a different product class.F) A) and D)
G) A) and E)

Question 19

When selecting a brand name, it should: (1)  suggest product benefits; (2)  be memorable, distinctive, and positive; (3)  fit the company or product image; (4)  __________; (5)  be simple and emotional; and (6)  have favorable phonetic and semantic associations in other languages.

Accepted Answer

A)  never have a humorous connotation
B)  be easy to spell and pronounce
C)  be patented
D)  not be easily imitated
E)  have no legal or regulatory restrictionsF) A) and D)
G) A) and E)

Question 20

Which of the following statements regarding warranties is most accurate?

Accepted Answer

A)  Limited-coverage warranties are required for all manufactured products but not for services.
B)  Full warranties are required for all products and services regardless of the size of the firm.
C)  Warranties protect consumers but have limited benefits to producers.
D)  Brands with limited warranty coverage tend to receive less positive evaluations.
E)  Warranties are relatively unimportant in light of product liability claims.F) A) and B)
G) B) and E)

Exam 11: Managing Successful Products Services and Brands

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

Correct AnswerverifiedShow Answer

When a product reaches the decline stage of the product life cycle, a firm has two choices. One choice involves product deletion-dropping it from a firm's product line. The other is called __________, which retains the product in the product line but reduces marketing costs.

Correct AnswerverifiedShow Answer

Any container in which a product is offered for sale and on which information is communicated is referred to as

Correct AnswerverifiedShow Answer

All of the following are true about product line extensions except

Correct AnswerverifiedShow Answer

Combining a corporate or family brand with a new brand to distinguish a part of its product line from others is referred to as

Correct AnswerverifiedShow Answer

The marketing of low-cost copies of popular brands not manufactured by the original producer is referred to as

Correct AnswerverifiedShow Answer

All of the following marketing actions can be used by a firm to counteract barriers to product adoption except

Correct AnswerverifiedShow Answer

A strategy of dropping a product from the product line during the decline stage of the product life cycle is referred to as

Correct AnswerverifiedShow Answer

When selecting a brand name, it should: (1) suggest product benefits; (2) be memorable, distinctive, and positive; (3) fit the company or product image; (4) __________; (5) be simple and emotional; and (6) have favorable phonetic and semantic associations in other languages.

Correct AnswerverifiedShow Answer

When a company retains a product but reduces marketing costs, it is referred to as

Correct AnswerverifiedShow Answer

Warranties that assign responsibility for product deficiencies to the manufacturer are called __________ warranties.

Correct AnswerverifiedShow Answer

When Coca-Cola promoted Coke as a morning beverage for those consumers who don't drink coffee, it used a __________ strategy.

Correct AnswerverifiedShow Answer

Which of the following statements regarding warranties is most accurate?

Correct AnswerverifiedShow Answer

The __________ stage of the product life cycle is characterized by rapid increases in sales.

Correct AnswerverifiedShow Answer

One of the primary benefits of branding for consumers is that branding

Correct AnswerverifiedShow Answer

If a figure that depicts years and retail sales of digital music shows from 2007 to 2015 the sales were rising rapidly, this indicates that in 2007 digital music was in which stage of the product life cycle?

Correct AnswerverifiedShow Answer

Nike has successfully used __________ with its lines Air Jordan and Air Lebron.

Correct AnswerverifiedShow Answer

Companies can choose from several different branding strategies. Companies such as Michelin with Michelin tires and Sears tires are using a __________ strategy.

Correct AnswerverifiedShow Answer

Consider the four steps in the sequential process of building brand equity. The fourth and last step is to

Correct AnswerverifiedShow Answer

The time a product can be stored before it spoils is referred to as its

Correct AnswerverifiedShow Answer

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