Question 1

_____ are accepted and popular products that go through a repetitive cycle of popularity.

Accepted Answer

A)   Fashions
B)   Impulse goods
C)   Specialty products
D)   Fads

Question 2

A product that is viewed in terms of providing the essential benefits that the buyer expects to receive from it is referred to as a(n) _____.

Accepted Answer

A)   tangible product
B)   generic product
C)   intangible product
D)   physical product

Question 3

The McGregor Corporation makes four different varieties of their brand of Maxim cereal.These varieties are Maxim corn flakes,Maxim raisin bran,Maxim honey clusters,and Maxim brown sugar and oats cereal.McGregor Corp.has used a _____ with its Maxim cereal brand.

Accepted Answer

A)   line extension approach
B)   multibranding approach
C)   brand extension approach
D)   franchise extension approach

Question 4

What does the depth of a product mix refer to?

Accepted Answer

A)   The number of product lines handled by the organization
B)   The length of time a product has been in the market
C)   The average number of products in each product line
D)   The total market share of the company from all its products

Question 5

Products that are equivalent to national brands but are priced much lower are called _____.

Accepted Answer

A)   prestige brands
B)   private-label brands
C)   generic product brands
D)   dual brands

Question 6

In _____,a current brand name is used to enter a completely different product class.

Accepted Answer

A)   line extension
B)   brand extension
C)   brand dilution
D)   generic branding

Question 7

What is diffusion of innovation?

Accepted Answer

A)   It is the creation of an entirely new product for an unexplored market.
B)   It refers to the number of similar products that are in the market.
C)   It is the spread of a product through the population.
D)   It is the degree of innovation that an organization possesses.

Question 8

Pearson & Toffer,Inc.makes SilkySoft soap for people who are concerned about soft skin.They also make SafeChoice soap for those consumers who want deodorant protection.What is the branding strategy used by Pearson & Toffer in this scenario?

Accepted Answer

A)   Multibranding
B)   Dual branding
C)   Cobranding
D)   Family branding

Question 9

Which of the following is true of the different stages in the product life cycle?

Accepted Answer

A)   Market sales are highest in the maturation stage.
B)   Market sales begin to increase in the continued expansion stage.
C)   The growth stage is the first stage of the product life cycle.
D)   Profits are nonexistent in the decline stage.

Question 10

Which of the following observations about branding is true?

Accepted Answer

A)   The legal term for brands is logos.
B)   The nutritional label is the single most important element on the package, serving as a unique identifier.
C)   Brand building activities are limited and ineffective by nature.
D)   A good brand name can evoke feelings of trust, confidence, security, and strength.

Question 11

The full set of products offered for sale by an organization is defined as a firm's ____.

Accepted Answer

A)   product features
B)   product mix
C)   product equity
D)   product line

Question 12

Which of the following is the best example of a shopping good?

Accepted Answer

A)   A home security system
B)   A bottle of Snapple pink lemonade
C)   A pair of fingernail clippers
D)   A truckload of bricks

Question 13

Which of the following statements about brand equity is true?

Accepted Answer

A)   Brand equity is what the customer gets in exchange for what the customer gives.
B)   Organizational products cannot have brand equity.
C)   Brand equity is not impacted by advertising and promotional efforts.
D)   Brand equity may add or subtract value.

Question 14

The Bedford Hotel is an industry leader.After Templeton Hotels measured its services against the Bedford,it instituted a customer service campaign called "proactive hospitality." Templeton managers examine monthly reports for problem areas and the Bedford model is used to determine ways to remove the problems.Which of the following methods is used by Templeton to identify improvement areas?

Accepted Answer

A)   Test marketing
B)   Benchmarking
C)   Niche marketing
D)   Market segmenting

Question 15

_____ refers to a market for organizational products that have a limited number of buyers.

Accepted Answer

A)   Horizontal market
B)   Consumer market
C)   Vertical market
D)   Convenience goods market

Question 16

Why are a growing number of products being introduced each year and competing for limited shelf space?

Accepted Answer

A)   New knowledge is being applied faster in the area of product development.
B)   There is an increase in time between product introductions.
C)   Companies are consistently removing old products from the market.
D)   The time-to-market has substantially increased in recent years.

Question 17

The tangible product along with the whole cluster of services that accompany it is called a(n) _____.

Accepted Answer

A)   extended product
B)   improvised product
C)   new product
D)   physical product

Question 18

Which of the following statements about product deletion is true?

Accepted Answer

A)   Product deletions are necessary because a decreasing number of new products are being introduced each year.
B)   A deletion plan involves keeping consumers supplied with replacement parts and repair service.
C)   The deletion plan is not required to provide for clearing out of stock in question.
D)   The deletion plan should let the retailer or distributor delete a product.

Question 19

According to the adopter categories of diffusion of innovation,laggards:

Accepted Answer

A)   are fearful of debt, but may eventually purchase a well-established brand.
B)   are the first to purchase a product through early-bird promotional offers.
C)   are the first to buy a new product as a result of their own interest in the latest goods.
D)   are most likely to begin buying new goods if the experience of innovators is favorable.

Question 20

In a _____,a manager is responsible for everything from marketing research and package design to advertising for a single product or a very small group of new and existing products.

Accepted Answer

A)   marketing-manager system
B)   category management system
C)   traditional marketing system
D)   brand-manager system

Exam 6: Product and Brand Strategy

_____ are accepted and popular products that go through a repetitive cycle of popularity.

Correct Answer
verified

What does the depth of a product mix refer to?

Correct Answer
verified

What is diffusion of innovation?

Correct Answer
verified

Which of the following observations about branding is true?

Correct Answer
verified

Pearson & Toffer,Inc.makes SilkySoft soap for people who are concerned about soft skin.They also make SafeChoice soap for those consumers who want deodorant protection.What is the branding strategy used by Pearson & Toffer in this scenario?

Correct Answer
verified

In a _____,a manager is responsible for everything from marketing research and package design to advertising for a single product or a very small group of new and existing products.

Correct Answer
verified

Which of the following is the best example of a shopping good?

Correct Answer
verified

In _____,a current brand name is used to enter a completely different product class.

Correct Answer
verified

Products that are equivalent to national brands but are priced much lower are called _____.

Correct Answer
verified

Which of the following is true of the different stages in the product life cycle?

Correct Answer
verified

The McGregor Corporation makes four different varieties of their brand of Maxim cereal.These varieties are Maxim corn flakes,Maxim raisin bran,Maxim honey clusters,and Maxim brown sugar and oats cereal.McGregor Corp.has used a _____ with its Maxim cereal brand.

Correct Answer
verified

The full set of products offered for sale by an organization is defined as a firm's ____.

Correct Answer
verified

Which of the following statements about product deletion is true?

Correct Answer
verified

Why are a growing number of products being introduced each year and competing for limited shelf space?

Correct Answer
verified

_____ refers to a market for organizational products that have a limited number of buyers.

Correct Answer
verified

According to the adopter categories of diffusion of innovation,laggards:

Correct Answer
verified

Which of the following statements about brand equity is true?

Correct Answer
verified

The tangible product along with the whole cluster of services that accompany it is called a(n) _____.

Correct Answer
verified

Correct Answer
verified

A product that is viewed in terms of providing the essential benefits that the buyer expects to receive from it is referred to as a(n) _____.

Correct Answer
verified

Exam 6: Product and Brand Strategy

_____ are accepted and popular products that go through a repetitive cycle of popularity.

Correct AnswerverifiedShow Answer

What does the depth of a product mix refer to?

Correct AnswerverifiedShow Answer

What is diffusion of innovation?

Correct AnswerverifiedShow Answer

Which of the following observations about branding is true?

Correct AnswerverifiedShow Answer

Pearson & Toffer,Inc.makes SilkySoft soap for people who are concerned about soft skin.They also make SafeChoice soap for those consumers who want deodorant protection.What is the branding strategy used by Pearson & Toffer in this scenario?

Correct AnswerverifiedShow Answer

In a _____,a manager is responsible for everything from marketing research and package design to advertising for a single product or a very small group of new and existing products.

Correct AnswerverifiedShow Answer

Which of the following is the best example of a shopping good?

Correct AnswerverifiedShow Answer

In _____,a current brand name is used to enter a completely different product class.

Correct AnswerverifiedShow Answer

Products that are equivalent to national brands but are priced much lower are called _____.

Correct AnswerverifiedShow Answer

Which of the following is true of the different stages in the product life cycle?

Correct AnswerverifiedShow Answer

The McGregor Corporation makes four different varieties of their brand of Maxim cereal.These varieties are Maxim corn flakes,Maxim raisin bran,Maxim honey clusters,and Maxim brown sugar and oats cereal.McGregor Corp.has used a _____ with its Maxim cereal brand.

Correct AnswerverifiedShow Answer

The full set of products offered for sale by an organization is defined as a firm's ____.

Correct AnswerverifiedShow Answer

Which of the following statements about product deletion is true?

Correct AnswerverifiedShow Answer

Why are a growing number of products being introduced each year and competing for limited shelf space?

Correct AnswerverifiedShow Answer

_____ refers to a market for organizational products that have a limited number of buyers.

Correct AnswerverifiedShow Answer

According to the adopter categories of diffusion of innovation,laggards:

Correct AnswerverifiedShow Answer

Which of the following statements about brand equity is true?

Correct AnswerverifiedShow Answer

The tangible product along with the whole cluster of services that accompany it is called a(n) _____.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A product that is viewed in terms of providing the essential benefits that the buyer expects to receive from it is referred to as a(n) _____.

Correct AnswerverifiedShow Answer

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