Chapter 11 SmartBook

Catchy jingles

Which of the following is a method firms use to create positive brand associations? Efficient distribution networks Franchise agreements Catchy jingles Low prices

rebranding

Brand repositioning is also known as ______. rebranding brand licensing brand dilution co-branding

value

Brand-loyal consumers provide an important source of ______ for firms. cost pricing marketing value

product

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

repeated

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

brand licensing

A contractual arrangement between firms where one firm allows another to use its brand name, logo, symbols, and/or characters in exchange for a negotiated fee is called ______. brand licensing brand repositioning brand extension co-branding

items

A firm's product line depth is the number of ______ within a product line, as opposed to the number of product lines a firm has. package sizes mixes items brand names

breadth

A firm's product mix ______ represents the number of product lines offered by the firm. brand category breadth depth

loyalty

A person who buys the same brand's product or service repeatedly over other options demonstrates what is known as brand ______. value loyalty equity association

lines

A product mix typically consists of product ______ or groups of associated items. depth breadth lines assortments

mix

The product ______ is the complete set of all products and services offered by a firm. category width mix line brand

Blank 1: brand

The set of assets and liabilities linked to a brand that add to or subtract from the value provided by a product or service is _____ equity.

private-label

Another name for a store brand is a(n) ______ brand family national individual private-label

family

Apple sells the majority of products under its Apple name brand. This is known as a(n) ______ brand. competitive individual family global

fewer

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

Goods purchased frequently or habitually

Brand awareness is MOST likely to influence purchasing decisions for which type of product? Goods that the consumer spends a lot of time researching Goods purchased infrequently Goods purchased frequently or habitually Goods never purchased before by the consumer

differentiate

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

equity

Brands are assets that a firm can build and harness over time to increase its ______. equity marketing expenditures liabilities consumer trust

trademarks and copyrights

Brands are typically legally protected through ______. product labeling primary packaging Consumer Bill of Rights The Federal Trade Commission trademarks and copyrights

breadth

Consumer packaged goods companies sell products across many different product lines. These companies have significant ______ in their product mixes. breadth brand dilution brand confusion depth

specialty

Debbie is considering having Botox treatments and knows it is a very serious process. On the advice of three of her friends who have each visited Dr. Parsons several times in the past two years for Botox treatments, Debbie makes an appointment with Parsons. She considers the selection to be a(n) ______ good/service. specialty shopping unsought convenience

Specialty Good The consumer spends lots of time and effort involved in searching, may compare alternatives and options, and has a good idea of the brand to purchase. Shopping Good The consumer compares alternatives and spends moderate amounts of time and effort deciding among products, features, and brands.

Drag each description to the type of good it refers to.

increasing depth

Firms add items to their product lines to address changing consumer preferences. For example, an ice cream company might add low-fat offerings to its existing ice cream flavors. This is an example of ______. decreasing breadth increasing breadth increasing depth decreasing depth

build brand awareness

Firms are willing to spend lots of money, such as on very expensive Super Bowl ads, to market a brand in order to ______. be competitive in commodity markets overwhelm consumers perception build brand awareness be able to develop the brand personality over time

customer relationship management

Firms reward loyal customers through ______ programs. consumer regulation marketing customer relationship marketing consumer regulation management customer relationship management

promotion and branding

For most products, the label is used for ______. branding and packaging promotion and branding promotion and licensing packaging and manufacturing information

perceived value

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

positive

Geico Insurance uses characters like the gecko and humorous associations with ______ emotions to reinforce the brand. negative positive threatening stable

Blank 1: value

Good marketing increases perceived _____ by raising customers' quality expectations relative to price.

Blank 1: awareness or recognition

If a brand has a high degree of brand _____ , it means that most consumers are familiar with the brand and what it stands for even if they do not use the brand.

Blank 1: cannibalize,

If a company's products are too closely related, sales of one brand may _____, or take away sales from the other brand, with no net sales, profit, or market share increase.

Add items to its product line

If a firm decides to increase the depth of its offerings to address consumer preferences, what will it do? Make material changes to existing products Add items to its product line Lower prices on existing products Increase the number of retail partners

The brand acceptance will carry over to the new product.

If the makers of a luxury good with high consumer acceptance extend their brand name to a line of less expensive products such as clothing featuring the brand logo, what is the most likely result? The brand associations of the original brand will be damaged. The brand acceptance will carry over to the new product. The perceived value of the original brand will decline. Brand loyalty will increase.

family

Kellogg's sells a variety of products under its Kellogg's name brand. It then identifies groups of products with a secondary name such as Raisin Bran or Froot Loops, each in several sizes and versions. Froot Loops is known as a(n) ______ brand. family corporate individual private-label

The manufacturer

Manufacturer brands such as Kraft and Nike are owned and managed by whom? The retailer The manufacturer A generic conglomerate The private label

national

Manufacturer brands such as Nike and Coca-Cola are also known as ______ brands. national premium generic store

awareness

Marketers can assess the level of brand ______ by measuring the extent to which consumers in a market are familiar with a brand, know what it stands for, and have an opinion about it. awareness value equity loyalty

associations

One consumer research exercise asks consumers to say the first things that occur to them when they hear a brand name. For example, for the brand "Coca-Cola," someone might respond, "Red and white cans, sweet, carbonated." These are examples of brand ______. loyalty personality equity associations

co-branding

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 ______. brand dilution generic branding co-branding brand repositioning

mix

Product lines are a part of a product ______. mix category brand decision

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

Select all that apply A strong brand protects firms from which of the following? (Choose every correct answer.) Changes in industry trends An existing competitor lowering prices An overall drop in consumer demand New products offering similar features or benefits

Differentiate its product offerings Make consumers aware of available products

Select all that apply Branding enables a firm to do which of the following? (Choose every correct answer.) Eliminate advertising spending Differentiate its product offerings Make consumers aware of available products Reintroduce old products at a higher cost

Advertising Publicity

Select all that apply Examples of communication media that firms use to create brand awareness include which of the following? (Choose every correct answer.) Advertising Licensed brands Publicity Low prices

They help shoppers distinguish between similar products. They make it easier to decide which products to buy. They indicate a certain level of quality.

Select all that apply How do brands improve consumers' shopping experience? (Choose every correct answer.) They help shoppers distinguish between similar products. They make it easier to decide which products to buy. They indicate a certain level of quality. They signal that a product is interchangeable with competitors' offerings.

Retailer/store brands Manufacturer brands

Select all that apply What are the two basic types of brand ownership strategies? Retailer/store brands Product brands Manufacturer brands Price brands

An established track record in the market A loyal customer base

Select all that apply What does a brand need in order to be somewhat protected from competition from other firms and price competition? (Choose every correct answer.) An established track record in the market A hard plastic package A celebrity endorsement A loyal customer base

Frito-Lay could spend less on developing consumer brand awareness. Frito-Lay could introduce the product to the market more quickly. The Tostitos brand already had brand associations that helped to sell salsa.

Select all that apply 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? (Choose every correct answer.) Frito-Lay could spend less on developing consumer brand awareness. Frito-Lay could introduce the product to the market more quickly. The Tostitos brand already had brand associations that helped to sell salsa. Frito-Lay did not have to do any promotion of the new product.

Advance notice of sale items Points that can be turned in for discounts Invitations to the company's special events

Select all that apply Which of the following are examples of CRM programs? (Choose every correct answer.) Advance notice of sale items End of season sales Word-of-mouth marketing opportunities Points that can be turned in for discounts Invitations to the company's special events

Invitations to the company's special events Advance notice of sale items Points that can be turned in for discounts

Select all that apply Which of the following are examples of CRM programs? (Choose every correct answer.) Invitations to the company's special events End of season sales Word-of-mouth marketing opportunities Advance notice of sale items Points that can be turned in for discounts

Using returnable packaging Adding recycled materials to packaging Using 3D printing

Select all that apply Which of the following are included in the ideas for sustainable packaging? (Check all that apply.) Using returnable packaging Adding more layers of plastic Adding recycled materials to packaging Using 3D printing

Promoting product features or changes Adjusting product sizes for different markets Differentiating a product from competitors

Select all that apply Which of the following are roles played by packaging? Promoting product features or changes Adjusting product sizes for different markets Differentiating a product from competitors Improving the design of the product itself

Perceived value Customer loyalty Brand awareness

Select all that apply Which of the following factors help to increase a brand's equity? Perceived value Customer loyalty Lower prices from competitors Competition level Brand awareness

Offered through a marketing exchange Something that a customer values

Select all that apply Which traits are true of ALL products? (Choose every correct answer.) Bought through an online distributor Delivered directly to the consumer Offered through a marketing exchange Something that a customer values

help consumers to make quick decisions

Since brands are easily recognized by consumers and signify a certain quality level to buyers, brands ______. make it more difficult for consumers to make decisions help consumers to make quick decisions increase the competition from other brands reduce prices

be transferred to

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 be lost on guarantee success for be expensive for

brand dilution

Suppose that Toyota introduced a small, inexpensive car under its Lexus brand. This action might harm consumers' current luxury-oriented brand associations for the Lexus brand. This is an example of ______, a risk companies face when adding a new product to an existing brand. umbrella branding brand erosion brand dilution co-branding

Blank 1: mix or depth

The complete set of all products and product lines offered by a firm is called its product assortment, or product _____.

label

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 ______. built in package primary package label message

packaging

The element of a product that is used both to physically protect and to market the item is the ______. brand equity packaging branding labeling

association

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

depth

The number of products within a product line is a firm's product line _____. depth breadth assortment mix

co-branding

The practice of marketing two or more brands together on the same package or promotion is known as ______. co-branding brand extension brand licensing brand dilution

brand repositioning

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 brand licensing brand extension co-branding

extension

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

line extension

The use of the same brand name within the same product line is called a(n) ______. line extension brand association brand extension augmented product

equity

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

True

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

True

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

True

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

Customers

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

Consumer products

What are products that household buyers use for their own use called? Business products Loyalty products Consumer products Ritual products

cannibalization

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? depletion stabilization cannibalization restriction

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

What makes the search for shopping goods different from the search for specialty goods? Consumers are not willing to expend any effort in seeking shopping goods. Consumers are willing to purchase shopping goods from any number of suppliers. Consumers spend a significant amount of time searching for shopping goods. Consumers are willing to consider alternative brands and features with shopping goods.

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

What must occur for the perceived value of a cheaper product to be high? The cheaper product must have the same or higher brand awareness than premium products. The price of the cheaper product must be below half that of a premium product. Consumers must believe the quality of the cheaper product is about the same as that of a premium product. The cheaper product must be endorsed by a celebrity or other notable figure.

brand licensing

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 repositioning co-branding brand licensing brand extension

brand dilution

When a brand extension adversely affects consumer perceptions about the core brand, it is known as ______. copycat branding co-branding umbrella branding brand dilution

family brand

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. individual brand family brand exclusive co-brand premium brand

The basic benefits consumers are seeking

Which of the following describes the core customer value of a product? The price range Attributes such as design/features, quality level, and packaging The basic benefits consumers are seeking Product warranties and financing

Associated products

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

Acme chips and Acme dips

Which of the following is an example of a brand extension? Acme barbecue potato chips and Acme salt and vinegar potato chips Acme sleds and Timberland boots Acme cars and generic pencils Acme chips and Acme dips

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

Which of the following is an example of product line extension? Kellogg's, in addition to its existing cereals, begins to sell branded bowls and spoons. Honda, in addition to its vehicles, begins to sell gasoline. Coke, in addition to its existing Diet Coke flavors, introduces chocolate-flavored Diet Coke. Ritz, in addition to its crackers, begins to sell cheeses.

The core customer value

Which of the following refers to the basic problem-solving benefits that consumers seek in a product? The core customer value Augmented product The actual product Associated services

sustainable

_____ packaging is better for the environment than traditional packaging.

Blank 1: Specialty or Speciality

_____ products/services are those such as an Apple iPhone, a Harley-Davidson motorcycle, or a Starbucks latte for which the consumer shows a fairly strong preference and loyalty and will go out of the way to find that specific brand.