2.02 test

____________ are examples of trade characters, brand marks that have been made to seem lifelike.

The Keebler Elves, Ronald McDonald, and Mr. Peanut

_____ of products must be done carefully to prevent damaging company image. Some products can be dropped immediately, but some are withdrawn from the market over a period of time.

elimination

The consistency of a company's product lines refers to how closely the lines are related in terms of ____, methods of distribution and production, target markets, and price range.

end use

A feasibility analysis is the step in the new-product development process that involves ____ such factors as demand, costs, competition, capital investment required, and potential profit of a product or service to determine how it will fit into the company's product mix.

examining

When a business adds product items or lines to its product mix, it is using the product-mix strategy of ____.

expansion

___ items are unbranded products that are plainly pack-aged, have lower or standard quality, are sold at lower prices than branded products, and receive little or no promotion.

generic

A company's ___ influence the choice of products to offer and suggest ways for the business to grow and remain competitive either by developing entirely new products or developing products similar to those being introduced by the competition.

goals

A ___ is a tangible, or physical, item and the customer benefits that it offers.

good

Which of the following controls such new-product considerations as warranties and safety standards:

government regulations

___ is the stage in the product life cycle in which sales rise rapidly.

growth

___screening involves reviewing ideas in order to make a decision as to what should be kept and what should be discarded.

idea

_____ is the initial step in new-product development and involves soliciting new product ideas from sources such as employees, consumers, sales representatives, and retailers.

idea generation

The business needs to make sure the brand name is not the property of another company since it is ___ to use another company's brand name. Brand names can be registered with the federal government in order to protect them, but this is not necessary in order to use a brand name that is legally available.

illegal

Services (such as massages, cooking lessons, and Internet connections) are _____ products and the customer benefits they offer; they cannot be tasted, felt, seen, heard, or smelled.

intangible

Products are easier to___ under an accepted, recognized brand name.

introduce

Product development may be a ___ stage during which a working model of the product is tested, perhaps modified, and retested a number of times.

lengthy

Product ____ has become a major problem for many companies. Rather than risk a law-suit, a company will remove the product from its product mix.

liability

___ is a business structure that requires the authorization or permission from an owner to another entity to use trademarked, copyrighted (e.g., logo, name), or patented material for a specific activity, during a specific time period, for the profit of both parties.

licensing

Stages in product ___ are the courses that products follow in the market including introduction, growth, maturity, and decline.

life cycles

Test marketing involves introducing the product to a ____ market to see what its acceptance will be.

limited

A company that has a narrow product mix offers a _____ of product lines. This enables the company to specialize efficiently, produce efficiently, and to concentrate on marketing the product lines.

limited number

When a company decides to add a ___ priced product or line to its product mix, it is using a trading-down strategy.

lower

___ research is often used to aid product/service managers in gathering information concerning customer needs and preferences.

market

Product/Service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to

market opportunities

_____ is often used to aid product/service managers in gathering information concerning customer needs and preferences. This information can help managers to predict whether a new product will be successful before the firm makes a major investment.

market research

____ is the stage in the product life

maturity

A product ___ is the particular assortment of products that a business offers to meet the needs of its market(s) and its

mix

Car dealerships, candy stores, and jewelers have ____ product mixes because they offer a limited number of product lines.

narrow

Costs and available resources are especially important factors for product/service managers to examine during the ______ development phase of product/service management.

new-product

A firm may ___ use a brand name that belongs to another firm unless it has permission and/or has paid a licensing fee.

not

Width is a product-mix dimension referring to the _____a company carries.

number of product lines

When a competing product that offers additional benefits enters the market, a business's prod-uct may become

obsolete

Services are ___ rather than produced.

performed

___is a strategy in which a business creates a certain image or impression of a product in the minds of consumers.

positioning

___ brands are brands owned by intermediaries.

private

____ labels are labels or brands that belong to the seller and are sold under the chosen name of the seller rather than under the name of the producer.

private

Kellogg's Froot Loops, General Mills' Chex, and Post Honey Bunches of Oats are all examples of ____ brands.

product

___ lines are groups of related product items.

product

A _____ is a name, term, symbol, or design (or combination of them) that identifies a product and distinguishes it from competitors' products.

product brand

A ____ is each individual good, service, or idea that a business offers for sale.

product item

Product depth refers to the assortment of sizes, colors, flavors, and models offered in a company's ____.

product lines

The assortment of products a business offers is its _____.

product mix

_____ takes place after a product is established in the market and after monies have been invested in a product.

product monitoring

Services that include delivery, instruction, or maintenance are referred to as ____ services.

product-related

___ services do not include a tangible product, while product-related services are services that are offered with a product.

pure

Reduced market share, higher product costs, and an increased number of customer complaints are all ____ that product/service managers might decide to eliminate a product.

reasons

Government ___ cover factors such as warranties, construction and safety standards, packaging, etc.

regulations

A product line is a group of ___ product items.

related

The addition of lower quality items to a product mix can confuse customers, thereby dam-aging the company's ____.

reputation

A law firm is an example of a ______ business.

service

A company that spreads its business risk over ____ products is in a much better position than a company that relies on one or two products for its income.

several

The business with a ___ product mix offers few variations within the product line. Limiting its product offerings helps a business control costs and ensure a profit.

shallow

Product items are distinguished by ________________________, or any feature that makes one item different from another.

size, style, brand, price, color, materials

Some companies eliminate a weak product ___ so that customers have time to find replacements, or they may continue to provide service for a discontinued product to retain customer goodwill.

slowly

An alteration strategy is used to improve products for ____ and to limit costs.

social good

___ are brand marks that have been made to seem lifelike.

trade characters

A ___ is the name that identifies a company or organization.

trade name

____ is a product-mix strategy in which a business adds a lower priced product or line to its product mix.

trading down

____ is a product-mix strategy in which a business adds a higher priced product or product line to its product mix.

trading up

When a company decides to add a higher priced product or line to its product mix, it is using a trading-up product-mix strategy. In this way, the company can ____ its image from one level to another.

upgrade

Product ___ refers to the number of product lines a company carries.

width

Product ___ refers to the number of product lines offered by a company.

width

A brand mark is a distinctive symbol, design, sound, or group of letters that is seen or heard but cannot be _____.

A brand mark is a dis-tinctive symbol, design, sound, or group of letters that is seen or heard but cannot be spo-ken.

An expansion product-mix strategy, in which a business ____ product items or lines to its product mix, is used to satisfy customers' desire for variety, to offer customers complementary products, to spread risk over a wider area, to appeal to a new market, to increase sales and profits, to enhance the company's reputation, and to make more efficient use of company facilities.

adds

_____ of individual brands include allowing companies to reach different markets, associating one-of-a-kind benefits with the individual brand, and preventing brands from contaminating each other.

advantages

____ is a product-mix strategy in which a business makes changes to its products or product lines.

alteration

When a company uses an existing brand name for a new product line, it is known as a ___

brand extension

And when consumers insist on "their" brand and will not accept a substitute, the brand has reached ____. Only that particular brand will satisfy a customer for a given purpose.

brand insistence

___ allows one company to use another's brand name, logo, or character for a fee.

brand licensing

A ___ is a distinctive symbol, design, sound, or group of letters that is seen or heard but cannot be spoken.

brand mark

A frequently used brand strategy is ____, the creation of an image or impression of a brand as compared to those of competitors' brands.

brand positioning

___ is when consumers prefer to purchase a certain brand based on their positive experience with the brand. However, if that brand is not available, the consumer will purchase another brand.

brand preference

____ is when consumers become aware of a brand and know a bit about it.

brand recognition

____ products are items that bear the name or symbol of their manufacturers, distributors, or retailers.

brand-name

___ identify products for consumers and help to separate, or differentiate, them from other similar products.

brands

Discount stores are good examples of businesses with ____ product mixes since they carry a wide assortment of product lines.

broad

_____ takes place when companies join forces to increase recognition, customer loyalty, and sales for both brands.

co-branding

_____ is the point at which the product goes into full-scale production, a marketing plan is put in place, service and sales training are conducted, and the product's life cycle begins.

commercialization

A brand name should create images which are appealing and desirable to consumers. The name should be pleasant and make people want to buy the product. A good brand name should be distinctive rather than ___.

common

During ___ testing, a product concept, or idea, is explored with potential customers to determine what response they would give to a proposed product idea. Idea generation is the step of new-product development in which ideas for new products are developed.

concept

A contraction strategy is used when a product comes in ___ with another item in the mix.

conflict

Product ____ refers to the relationship between the product lines.

consistency

____ is a product-mix strategy in which a business removes, or deletes, product items or product lines from its product mix.

contraction

Product/Service management should be approached from the angle of the ________ (first)

customer's point of view

___ is the final stage of the product life cycle.

decline

If one product in the family is found to be of poor quality, then the entire brand family could suffer, this would be considered a _________ to family branding.

disadvantage

Product/Service management involves ____ new-product opportunities.

discovering