BA 370 Chapter 11: Product, Branding, and Packaging Decisions

What makes the search for shopping goods different from the search for specialty goods?

Consumers are willing to consider alternative brands and features with shopping goods.

What must occur for the perceived value of a cheaper product to be high?

Consumers must believe the quality of the cheaper product is about the same as that of a premium product.

True or false: Trademarks and copyrights are legal ways to protect brands from being used by others.

True: Trademarks and copyrights legally protect brand names.

Branding provides a way for a firm to ______ its product offerings from those of its competitors.

differentiate

The product ______ is the complete breadth and depth of all products offered by a firm.

mix

Manufacturer brands such as Nike and Coca-Cola are also known as ______ brands.

national

From the customer's perspective, the relationship between a product's or service's benefits and costs is called ______.

perceived value

A ________________is something that a customer values and that can be bought or sold voluntarily.

product

A product mix typically consists of ______, or groups of associated items.

product lines

Consumer packaged goods companies sell products across many different product lines. These companies have significant ______ in their product mixes.

breadth

Good marketing increases perceived____________by raising customers' quality expectations relative to price.

value

True or false: Most brands marketed in the United States are manufacturer brands.

True

What are products that household buyers use for their own use called?

Consumer Products

When Frito-Lay decided to introduce a salsa product line, it used the existing Tostitos brand (under which it sells taco chips). What advantages did this strategy provide Frito-Lay?

-It could introduce the product sooner and more easily -it could spend less on developing consumer brand awareness -the Tostitos brand already had brand association that helped to sell salsa

Which of the following is an example of a brand extension?

Acme chips and Acme dips

If a firm decides to increase the depth of its offerings to address consumer preferences, what will it do?

Add items to its product line

What does a brand need in order to be somewhat protected from competition from other firms and price competition?

An established track record in the market A loyal customer base

Which of the following is NOT one of the categories of consumer products that buyers use for their personal use?

Associated services

Which of the following help to increase a brand's equity? (Select all that apply.)

Brand awareness Customer loyalty Perceived value

Which of the following is an example of product line extension?

Coke, in addition to its existing Diet Coke flavors, introduces chocolate-flavored Diet Coke.

Typically, who determines the product's or service's value in relationship to that of its close competitors?

Customers

Brand awareness is most likely to influence purchasing decisions for which type of product?

Goods purchased frequently habitually

A strong brand protects firms from which of the following? (Select all that apply.)

New products offering similar features or benefits An existing competitor lowering prices

Branding enables a firm to do which of the following? (Choose all that apply.)

Make consumers aware of available products Differentiate its product offerings

Which of the following is of the categories of consumer products that buyers use for their personal use?

Shopping products Specialty products Convenience products

Compares alternatives and consumer spends moderate amounts of time and effort deciding among products, features, and brands

Shoppping Goods

Consumer spends lots of time and effort involved in searching, may compare alternatives and options, and consumer has a good idea of the brand he or she will buy in advance

Speciality Goods

Which of the following describes the core customer value of a product?

The basic benefits consumers are seeking

Which of the following refers to the basic problem-solving benefits that consumers seek in a product?

The core customer value

Manufacturer brands such as Kraft and Nike are owned and managed by whom?

The manufacturer

True or false: Brands are sold either under a common/family name or as an individual brand.

True

Examples of CRM programs include:

advance notice of sale items invitations to the company's special events points that can be turned in for discounts

If a brand has a high degree of brand _____, it means that most consumers are familiar with the brand and what it stands for.

awareness

Strong brand acceptance for Reese's peanut butter candies among consumers would probably ______ Reese's Peanut Butter when competing with Jif and Skippy.

be transferred to

The mental link customers make between a brand and its key product attributes is known as ______.

brand association

When a brand extension adversely affects consumer perceptions about the core brand, it is known as ______.

brand dilution

The value of a brand can be calculated and compared to other brands in the form of ______.

brand equity

When K-Mart paid Martha Stewart (famous for her business related to lifestyle and the home) a fee in return for permission to introduce a line of towels and other housewares bearing Stewart's name, it was an example of ______.

brand licensing

The strategy in which marketers change a brand's focus to target new markets, or realign the brand with changing market preferences, is known as:

brand repositioning

What is the term used when a company's products are so closely related that sales of one brand take away sales from the other brand?

cannibalization

One of Taco Bell's most successful new products has been its "Doritos Locos Tacos," tacos with shells in the flavors of Doritos taco chip varieties. This is an example of ______.

co-branding

The practice of marketing two or more brands together on the same package or promotion is known as:

co-branding

Firms reward loyal customers through ______ programs.

customer relationship management

Brands are assets that a firm can build and harness over time to increase its ______.

equity

The use of an existing brand name in a different product line is called brand ______.

extension

Kellogg's sells the majority of products under its Kellogg's name brand all of it product lines. This is known as a(n)______ brand.

family

When a firm sells all its products under one ______, such as Pepperidge Farm, the individual brands benefit from the overall brand awareness associated with it.

family brand

Because a brand name is already well established, a firm can spend ______ to develop consumer brand awareness when introducing a brand extension.

fewer resources

The component of the product package that provides the information consumers need to make their purchase decisions and for proper consumption of the product is known as the ______.

label

Examples of communication media that firms use to create brand awareness include which of the following?

publicity advertising

Brand repositioning is also known as:

rebranding

A brand, such as T-Mobile, can build awareness through ______ exposure to the brand's logo, symbols, and slogans.

repeated

A product's exterior wrapper or exterior carton that contains additional product information is known as the ______.

secondary package

Which statements are true of ALL products?

something that a customer values offered through a marketing exchange

What are the two basic types of brand ownership strategies?

store brands manufacturer brands

The packaging that the consumer uses is known as ______.

the primary package

Brand-loyal consumers provide an important source of ______ for firms.

value