Chp. 11 SmartBook

What does a brand need in order to be somewhat protected from competition from other firms and price competition? A) A loyal customer base B) An established track record in the market C) A hard plastic package D) A celebrity endorsement

A) A loyal customer base & B) An established track record in the market

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

A) Associated products

Which of the following help to increase a brand's equity? (Multiple Answers) A) Brand awareness B) Perceived value C) Competition level D) Lower prices from competitors E) Customer loyalty

A) Brand awareness & B) Perceived value & E) Customer loyalty

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

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

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

A) Customers

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? A) The Tostitos brand already had brand associations that helped to sell salsa. B) Frito-Lay could introduce the product to the market more quickly. C) Frito-Lay didn't have to do any promotion of the new product. D) Frito-Lay could spend less on developing consumer brand awareness.

A) The Tostitos brand already had brand associations that helped to sell salsa. & B) Frito-Lay could introduce the product to the market more quickly. & D) Frito-Lay could spend less on developing consumer brand 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.. A) awareness B) equity C) value D) loyalty

A) awareness

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

A) brand association

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

A) brand equity

The practice of marketing two or more brands together on the same package or promotion is known as: A) co-branding B) brand dilution C) brand extension D) brand licensing

A) co-branding

A strong brand protects firms from which of the following? (Multiple Answers) A) An overall drop in consumer demand B) An existing competitor lowering prices C) New products offering similar features or benefits D) Changes in industry trends

B) An existing competitor lowering prices & C) New products offering similar features or benefits

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

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

Branding enables a firm to do which of the following? (Multiple Answers) A) Reintroduce old products at a higher cost B) Differentiate its product offerings C) Eliminate advertising spending D) Make consumers aware of available products

B) Differentiate its product offerings & D) Make consumers aware of available products

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 ______. A) brand equity B) brand associations C) brand personality D) brand loyalty

B) brand associations

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 ______. A) brand repositioning B) brand licensing C) brand extension D) co-branding

B) 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 ______. A) co-branding B) brand licensing C) brand extension D) brand repositioning

B) brand licensing

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

B) differentiate

Brands are assets that a firm can build and harness over time to increase its ______. A) brand liabilities B) equity C) marketing expenditures D) consumer trust

B) equity

What are the two basic types of brand ownership strategies? A) product brands B) manufacturer brands C) price brands D) store brands

B) manufacturer brands & D) store brands

For most products, the label is used for ______. A) branding and packaging B) promotion and branding C) promotion and licensing D) packaging and manufacturing information

B) promotion and branding

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

C) Acme chips and Acme dips

What are products that household buyers use for their own use called? A) Ritual products B) Business products C) Consumer products D) Loyalty products

C) Consumer products

A firm's product mix _____ represents the number of product lines offered by the firm. A) brand B) category C) breadth D) depth

C) breadth

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

C) build brand awareness

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. A) corporate B) global C) family D) individual

C) 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. A) premium brand B) individual brand C) family brand D) exclusive co-brand

C) family brand

Because a brand name is already well established, a firm can spend ______ to develop consumer brand awareness when introducing a brand extension. A) about the same in resources B) more resources C) fewer resources D) more time

C) fewer resources

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

C) line extension

Product lines are a part of a product ______. A) category B) decision C) mix D) brand

C) mix

The product ______ is the complete breadth and depth of all products offered by a firm. A) brand B) line C) mix D) category E) width

C) mix

A product mix typically consists of ______, or groups of associated items. A) product assortments B) product breadths C) product lines D) product depth

C) product lines

Examples of communication media that firms use to create brand awareness include which of the following? A) licensed brands B) low prices C) publicity D) advertising

C) publicity & D) advertising

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

C) repeated

Brand awareness is most likely to influence purchasing decisions for which type of product? A) Goods never purchased before by the consumer B) Goods that the consumer spends a lot of time researching C) Goods purchased infrequently D) Goods purchased frequently habitually

D) Goods purchased frequently habitually

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

D) The basic benefits consumers are seeking

Which of the following refers to the basic problem-solving benefits that consumers seek in a product? A) The augmented product B) Associated services C) The actual product D) The core customer value

D) The core customer value

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: A) brand extension B) brand licensing C) co-branding D) brand repositioning

D) brand repositioning

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

D) breadth

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 ______. A) generic branding B) brand repositioning C) brand dilution D) co-branding

D) co-branding

The number of products within a product line is a firm's product line ______. A) assortment B) mix C) breadth D) depth

D) depth

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

D) extension

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. A) mixes B) package sizes C) brand names D) items

D) items

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 ______. A) primary package B) built in package C) marketing message D) label

D) label

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

D) perceived value

Brand repositioning is also known as: A) brand dilution B) co-branding C) brand licensing D) rebranding

D) rebranding

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

True

Good marketing increases perceived ____________ by raising customers' quality expectations relative to price. (One Word)

value

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. (One Word)

awareness

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 __________ __________ . (Two Words)

brand equity

The complete set of all products and product lines offered by a firm is called its product assortment, or product ___________. (One Word)

mix