Question 1

Trading up refers to

Accepted Answer

A)   adding product features but reducing the price.
B)   changing the distribution channel members to higher-service-quality retailers.
C)   adding value to the product (or line)  through additional features or higher-quality materials.
D)   reallocating marketing resources from a poor-performing target market to one that demonstrates greater potential for future growth.
E)   offering consumers a discount when they purchase a more expensive version of the product.F) A) and D)
G) A) and C)

Question 2

Hot-Can Café Latte comes in single-serving,self-heating containers.Not only does this benefit people on the go,it is a popular product with backpackers and hunters because they can still have hot coffee when there is no electricity-no heat source necessary! This demonstrates which benefit of good packaging?

Accepted Answer

A)   communication benefit
B)   perceptual benefit
C)   financial benefit
D)   societal benefit
E)   functional benefitF) C) and E)
G) C) and D)

Question 3

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)   skimming
B)   paring
C)   divesting
D)   milking
E)   harvestingF) None of the above
G) A) and B)

Question 4

The formula __________ is used to calculate 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)   of the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itselfF) A) and B)
G) C) and D)

Question 5

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) D) and E)
G) B) and E)

Question 6

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

Accepted Answer

A)   brand cachet.
B)   brand net worth.
C)   brand equity.
D)   brand benefit.
E)   brand enhancement.F) None of the above
G) A) and D)

Question 7

As product adopters in the diffusion of innovation,laggards

Accepted Answer

A)   have a fear of debt and use neighbors and friends as information sources.
B)   are skeptical and have below average social status.
C)   are deliberate and use many informal social contacts.
D)   are leaders in social settings and have a slightly above average education.
E)   are venturesome, highly educated, and use multiple information sources.F) B) and E)
G) D) and E)

Question 8

There is no set time that a product takes to move through its life cycle.But as a rule,

Accepted Answer

A)   services are highly affected by social trends while tangible goods are not.
B)   consumer products have shorter life cycles than business products.
C)   business products typically show very short maturity stages.
D)   technological change tends to lengthen product life cycles.
E)   product life cycles are longer for ideas than for services.F) C) and D)
G) None of the above

Question 9

As product adopters in the diffusion of innovation,members of the late majority

Accepted Answer

A)   have a fear of debt and use neighbors and friends as information sources.
B)   are skeptical and have below average social status.
C)   are deliberate and use many informal social contacts.
D)   are leaders in social settings and have a slightly above average education.
E)   are venturesome, highly educated, and use multiple information sources.F) All of the above
G) None of the above

Question 10

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts.One of these is the BDI,or

Accepted Answer

A)   business development index.
B)   brand development index.
C)   business-portfolio development index.
D)   buyers development index.
E)   benchmark development index.F) A) and E)
G) C) and E)

Question 11

Figure 10-5 
-The consumers represented by E in Figure 10-5 are called

Accepted Answer

A)   laggards.
B)   innovators.
C)   late majority.
D)   early majority.
E)   early adopters.F) B) and E)
G) C) and D)

Question 12

Seiko makes watches.It markets its higher quality watches under the Seiko or LaSalle brand names and its lower-priced watches are sold under the Pulsar brand.Seiko uses a __________ strategy.

Accepted Answer

A)   multibranding
B)   product differentiation branding
C)   multiproduct branding
D)   segmentation branding
E)   private brandingF) A) and E)
G) B) and C)

Question 13

Which of the following is a multiproduct branding strategy?

Accepted Answer

A)   mixed branding
B)   product line extensions
C)   multibranding
D)   brand licensing
E)   private brandingF) A) and B)
G) A) and C)

Question 14

Changing the place a product occupies in a consumer's mind relative to competitive products is referred to as

Accepted Answer

A)   market modification.
B)   product modification.
C)   product repositioning.
D)   product positioning.
E)   perceptual mapping.F) A) and E)
G) All of the above

Question 15

As product adopters,innovators

Accepted Answer

A)   have a fear of debt and use neighbors and friends as information sources.
B)   are skeptical and have below average social status.
C)   are deliberate and use many informal social contacts.
D)   are leaders in social settings and have a slightly above average education.
E)   are venturesome, higher educated, and use multiple information sources.F) A) and D)
G) None of the above

Question 16

Under the concept of the diffusion of innovation,consumers who are deliberate adopters with many informal social contacts are called

Accepted Answer

A)   innovators.
B)   early adopters.
C)   the early majority.
D)   the late majority.
E)   laggards.F) A) and E)
G) C) and E)

Question 17

If a customer is reluctant to try a new product because he'd have to change his normal everyday behaviors,the company is most likely facing a __________ barrier.

Accepted Answer

A)   usage
B)   risk
C)   value
D)   financial
E)   psychologicalF) C) and D)
G) B) and D)

Question 18

LED (light-emitting diode) lightbulbs,such as the Cree LED bulb,have been available for only a few years in low lighting levels (lumens) .They are designed to replace incandescent and compact fluorescent lightbulbs,in part because of a federal law that phases out incandescent lightbulbs in favor of more energy-efficient ones.LED bulbs are more expensive but will last up to 20 years.In what stage of the product life cycle is this product?

Accepted Answer

A)   growth stage
B)   decline stage
C)   accelerated development stage
D)   introduction stage
E)   maturity stageF) B) and E)
G) A) and B)

Question 19

A __________ product requires little learning by the consumer,and the benefits of the purchase are readily understood.

Accepted Answer

A)   high-learning
B)   fashion
C)   fad
D)   substitute
E)   low-learningF) A) and D)
G) A) and E)

Question 20

Explain how packaging provides communication,functional,and perceptual benefits for manufacturers,retailers,and consumers.

Accepted Answer

Packages provide important benefits for ...

Exam 10: Managing Successful Products, services, and Brands

As product adopters in the diffusion of innovation,members of the late majority

Correct Answer
verified

As product adopters in the diffusion of innovation,laggards

Correct Answer
verified

Explain how packaging provides communication,functional,and perceptual benefits for manufacturers,retailers,and consumers.

Correct Answer
verified
Packages provide important benefits for ...
View Answer

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

Correct Answer
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Trading up refers to

Correct Answer
verified

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 Answer
verified

Changing the place a product occupies in a consumer's mind relative to competitive products is referred to as

Correct Answer
verified

Seiko makes watches.It markets its higher quality watches under the Seiko or LaSalle brand names and its lower-priced watches are sold under the Pulsar brand.Seiko uses a __________ strategy.

Correct Answer
verified

A __________ product requires little learning by the consumer,and the benefits of the purchase are readily understood.

Correct Answer
verified

Correct Answer
verified

The formula __________ is used to calculate BDI.

Correct Answer
verified

Which of the following is a multiproduct branding strategy?

Correct Answer
verified

There is no set time that a product takes to move through its life cycle.But as a rule,

Correct Answer
verified

Under the concept of the diffusion of innovation,consumers who are deliberate adopters with many informal social contacts are called

Correct Answer
verified

As product adopters,innovators

Correct Answer
verified

Correct Answer
verified

Figure 10-5 -The consumers represented by E in Figure 10-5 are called

Correct Answer
verified

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts.One of these is the BDI,or

Correct Answer
verified

If a customer is reluctant to try a new product because he'd have to change his normal everyday behaviors,the company is most likely facing a __________ barrier.

Correct Answer
verified

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

Correct Answer
verified

Exam 10: Managing Successful Products, services, and Brands

As product adopters in the diffusion of innovation,members of the late majority

Correct AnswerverifiedShow Answer

As product adopters in the diffusion of innovation,laggards

Correct AnswerverifiedShow Answer

Explain how packaging provides communication,functional,and perceptual benefits for manufacturers,retailers,and consumers.

Correct AnswerverifiedPackages provide important benefits for ...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Trading up refers to

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

Changing the place a product occupies in a consumer's mind relative to competitive products is referred to as

Correct AnswerverifiedShow Answer

Seiko makes watches.It markets its higher quality watches under the Seiko or LaSalle brand names and its lower-priced watches are sold under the Pulsar brand.Seiko uses a __________ strategy.

Correct AnswerverifiedShow Answer

A __________ product requires little learning by the consumer,and the benefits of the purchase are readily understood.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The formula __________ is used to calculate BDI.

Correct AnswerverifiedShow Answer

Which of the following is a multiproduct branding strategy?

Correct AnswerverifiedShow Answer

There is no set time that a product takes to move through its life cycle.But as a rule,

Correct AnswerverifiedShow Answer

Under the concept of the diffusion of innovation,consumers who are deliberate adopters with many informal social contacts are called

Correct AnswerverifiedShow Answer

As product adopters,innovators

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Figure 10-5 -The consumers represented by E in Figure 10-5 are called

Correct AnswerverifiedShow Answer

Managers often use two special measures to help identify strong and weak market segments in order to provide direction for marketing efforts.One of these is the BDI,or

Correct AnswerverifiedShow Answer

If a customer is reluctant to try a new product because he'd have to change his normal everyday behaviors,the company is most likely facing a __________ barrier.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
verified
Packages provide important benefits for ...
View Answer

Correct Answer
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Correct Answer
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