Question 1

Which of the following products would have a low-learning product life cycle curve?

Accepted Answer

A)  electric cars
B)  Fusion razor
C)  interactive television
D)  software for learning a foreign language
E)  convection ovensF) A) and D)
G) C) and D)

Question 2

Which of the following quotes from a new product adopter would signal the need for a firm to counteract a usage 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!"F) C) and D)
G) B) and C)

Question 3

Gillette spent $200 million in advertising to introduce the Fusion razor to male shavers. Such expenditures are often made to stimulate primary demand, or desire for the product __________, rather than for a specific brand, when there are few competitors with the same product.

Accepted Answer

A)  class
B)  form
C)  item
D)  mix
E)  conceptF) B) and C)
G) None of the above

Question 4

The largest numbers of product adopters with respect to the diffusion of innovation are found among __________.

Accepted Answer

A)  innovators and laggards
B)  early majority and late majority
C)  late majority and laggards
D)  innovators and early majority
E)  innovators and early adoptersF) A) and B)
G) B) and C)

Question 5

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

Question 6

Market modification refers to a marketing strategy that __________.

Accepted Answer

A)  alters a product's characteristic, such as its quality, performance, or appearance, to increase its value to customers and to increase sales
B)  manages a product's life cycle to find new customers, increase a product's use among existing customers, or create new use situations
C)  tries to find new customers and convince users who abandoned the product to purchase again
D)  drops the lowest producing market segment and replaces it with an entirely new one
E)  combines the two lowest producing market segments to achieve marketing economies of scaleF) C) and D)
G) B) and D)

Question 7

What is the marketing objective for the introduction stage of the product life cycle?

Accepted Answer

A)  harvesting
B)  market share
C)  stress differentiation
D)  maintain brand loyalty
E)  gain awarenessF) A) and D)
G) A) and B)

Question 8

Which of the following is a characteristic of the growth stage of the product life cycle?

Accepted Answer

A)  advertising emphasis switches to selective demand
B)  a growing proportion of trial purchases come from brand loyal users
C)  product features remain unchanged
D)  profit margins increase as sales increase
E)  the product is sold in a narrowly selected number of retail outletsF) A) and E)
G) A) and B)

Question 9

New Coke was repositioned as a slightly sweeter, less filling soft drink because the Coca-Cola Company discovered that its 1984 market share in supermarkets was 2 percent behind Pepsi. This product repositioning strategy was designed to __________.

Accepted Answer

A)  reach a new market
B)  catch a rising trend
C)  change the value offered
D)  change its target audience
E)  react to a competitor's positionF) A) and B)
G) A) and C)

Question 10

A branding strategy that involves giving each product a distinct name when each brand is intended for a different market segment is referred to as __________.

Accepted Answer

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

Question 11

Companies can employ four general branding strategies, which include: (1)  multiproduct branding; (2)  multibranding; (3)  private branding; and (4)  __________.

Accepted Answer

A)  retailer branding
B)  intermediary branding
C)  brand licensing
D)  mixed branding
E)  co-brandingF) B) and E)
G) B) and D)

Question 12

-The consumers represented by D in Figure 10-4 above are called __________.

Accepted Answer

A)  innovators
B)  late majority
C)  early majority
D)  early adopters
E)  laggardsF) A) and E)
G) C) and E)

Question 13

The term branding refers to __________.

Accepted Answer

A)  the licensing of a name, phrase, design, symbol, or combination of these for a period of 17 years, at which time a firm may renew its intellectual property rights to them
B)  the value added to the product from the additional features given to a product beyond its functional attributes
C)  the identification of an organization's products based upon individual SKUs
D)  an organization's use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors
E)  the establishment of a commercial, legal name under which a company does businessF) All of the above
G) A) and B)

Question 14

-Figure 10-1 above represents the stages of the product life cycle. What does the curve labeled X represent?

Accepted Answer

A)  total variable costs
B)  total fixed costs
C)  total industry profit
D)  total industry sales revenue
E)  total research and development costsF) None of the above
G) C) and E)

Question 15

All of the following are types of barriers to the adoption of new products EXCEPT:

Accepted Answer

A)  risk
B)  regulatory
C)  psychological
D)  usage
E)  valueF) A) and B)
G) D) and E)

Question 16

Three important aspects of product life cycles are their length, the shape of their sales curves, and the rate at which __________.

Accepted Answer

A)  consumers recognize differences among products
B)  consumers adopt products
C)  consumers abandon products
D)  competitors create competitive offerings
E)  environmental forces affect productsF) B) and E)
G) All of the above

Question 17

-All electric-powered automobiles such as the Chevy Spark shown in the photo above are in which stage of their product life cycle?

Accepted Answer

A)  growth
B)  maturity
C)  decline
D)  accelerated development
E)  introductionF) B) and D)
G) A) and E)

Question 18

Multibranding refers to a branding strategy in which a firm __________.

Accepted Answer

A)  gives each product a distinct name when each brand is intended for a different market segment
B)  uses different brand names for the same product across multiple countries
C)  uses one name for all its products in a product class
D)  produces products but sell them under the brand name of a wholesaler or retailer
E)  contractually, and for a fee, allows other firms to use its brand name, requiring that the product be made to its specificationsF) D) and E)
G) A) and B)

Question 19

Service firms can manage their physical environment to influence customers' perceptions through

Accepted Answer

A)  service delivery management.
B)  relationship management.
C)  customer experience management.
D)  exposure management.
E)  impression management.F) None of the above
G) A) and E)

Question 20

Product packaging, such as the Pringles cylindrical package, is one example of the product's __________.

Accepted Answer

A)  functional benefits
B)  convenience
C)  communication benefits
D)  technology
E)  renewable resourcesF) B) and E)
G) C) and E)

Exam 10: Managing Successful Products, Services, and Brands

New Coke was repositioned as a slightly sweeter, less filling soft drink because the Coca-Cola Company discovered that its 1984 market share in supermarkets was 2 percent behind Pepsi. This product repositioning strategy was designed to __________.

Correct AnswerverifiedShow Answer

-The consumers represented by D in Figure 10-4 above are called __________.

Correct AnswerverifiedShow Answer

All of the following are types of barriers to the adoption of new products EXCEPT:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following is a characteristic of the growth stage of the product life cycle?

Correct AnswerverifiedShow Answer

A branding strategy that involves giving each product a distinct name when each brand is intended for a different market segment is referred to as __________.

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

Companies can employ four general branding strategies, which include: (1) multiproduct branding; (2) multibranding; (3) private branding; and (4) __________.

Correct AnswerverifiedShow Answer

The term branding refers to __________.

Correct AnswerverifiedShow Answer

The largest numbers of product adopters with respect to the diffusion of innovation are found among __________.

Correct AnswerverifiedShow Answer

Which of the following products would have a low-learning product life cycle curve?

Correct AnswerverifiedShow Answer

Service firms can manage their physical environment to influence customers' perceptions through

Correct AnswerverifiedShow Answer

Gillette spent $200 million in advertising to introduce the Fusion razor to male shavers. Such expenditures are often made to stimulate primary demand, or desire for the product __________, rather than for a specific brand, when there are few competitors with the same product.

Correct AnswerverifiedShow Answer

Three important aspects of product life cycles are their length, the shape of their sales curves, and the rate at which __________.

Correct AnswerverifiedShow Answer

Multibranding refers to a branding strategy in which a firm __________.

Correct AnswerverifiedShow Answer

-All electric-powered automobiles such as the Chevy Spark shown in the photo above are in which stage of their product life cycle?

Correct AnswerverifiedShow Answer

Market modification refers to a marketing strategy that __________.

Correct AnswerverifiedShow Answer

What is the marketing objective for the introduction stage of the product life cycle?

Correct AnswerverifiedShow Answer

-Figure 10-1 above represents the stages of the product life cycle. What does the curve labeled X represent?

Correct AnswerverifiedShow Answer

Product packaging, such as the Pringles cylindrical package, is one example of the product's __________.

Correct AnswerverifiedShow Answer

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