marketing chapter 11

Product modification consists of altering the product's quality, performance, or Blank______. Multiple choice question. availability advertising appearance price

appearance

Brand equity is defined as the added value a brand name gives to a product Multiple choice question. beyond the functional benefits provided. as it reaches the maturity stage of the product life cycle. compared to others in the same product line, all of which are produced by the same firm. based upon the difference in prices among competitors.

beyond the functional benefits

When an organization uses a name, phrase, design, symbols, or a combination of these to identify products and distinguish them from its competitors, it is engaged in Blank______. Multiple choice question. perceptual mapping positioning branding segmentation

branding

What are two responsibilities of a product manager? Multiple select question. managing existing products through the stages of the life cycle managing the logistics of transporting goods through the supply chain overseeing the production process for a line of goods developing and executing a marketing program for a product line assembling a research and development team to discover product defects

developing and executing a marketing program for a product line managing existing products through the stages of the life cycle

What often occurs when a product line extension is very similar to the other products of a company? Multiple choice question. It has no effect on the other products in the company's product line. It increases the sales of other products in the company's product line. It reduces the sales of other products in the company's product line. It forces the company to eliminate the original product.

It reduces the sales of other products in the company's product line.

Product ______ refers to the entire product category or industry, often illustrated in a product life cycle curve. Multiple choice question. differentiation variety form class

class

Match the following types of benefits provided by packaging and labeling with the correct example.

communication: nutritional and dietary information functional: stackable food containers perceptual: graphics to convey a brand's positioning

The _________ stage of the product life cycle is characterized by a slowing of growth in total industry sales or product class revenue.

maturity

Easy-Off, Glass Plus, Cling-Free are good brand names because they Multiple choice question. suggest the product benefits. are easy to pronounce and spell. are made up of two words. are easy to remember.

suggest the product benefits

Which is an example of a brand extension? Multiple choice question. Acme sleds and Timberland boots Volkswagen cars and Volkswagen SUVs Cosmopolitan magazine and Cosmopolitan clothing line Reach toothbrushes and Crest toothpaste

Cosmopolitan magazine and Cosmopolitan clothing line

Packaging and labeling not only provides benefits for the consumer, but if done successfully in a way that puts a firm in a favorable position compared to its competitors, it can provide Blank______ for the firm. Multiple choice question. a competitive advantage a shortened product life cycle functional benefits segmentation opportunities

a competitive advantage

The use of the same brand name for new products being introduced into a different product class is known as Blank______. Multiple choice question. cobranding brand extension family branding product line extension

brand extension

Which of the following are strategies to modify the market? Multiple select question. Create new use situations Alter one or more of a product's characteristics Find new customers Create a new product Increase a product's use among existing customers

create new use situations find new customers increase a product's use among existing customers

The way a product spreads through the population is known as Blank______. Multiple choice question. market modification the product life cycle the adoption sequence diffusion of innovation

diffusion of innovation

The diffusion of innovation curve has five categories of consumers. Match the consumer category with the approximate percentage that the group represents as a whole in the market.

2.5%: Innovators 13.5%: Early Adopters 34%: Early & Late Majority 16%: Laggards

A contractual arrangement between firms, whereby one firm allows another to use its brand name, logo, symbols, and/or characters in exchange for a negotiated fee, is called Blank______. Multiple choice question. brand extension cobranding brand licensing brand repositioning

brand licensing

Multiproduct branding is also called which two of the following? Multiple select question. private labels brand extension corporate branding family branding

corporate branding family branding

Product Blank______ pertains to variations within the product class, where each may have its own product life cycle curve. Multiple choice question. system variety differentiation form

form

When a firm markets products under its own name and that of a reseller because each attracts different segments, it is called a Blank______ strategy. Multiple choice question. mixed branding multiproduct private labeling multibranding

mixed branding

What are the three primary ways to manage a product through its life cycle? Multiple select question. modifying the market repositioning the market repositioning the product modify the competition decrease the brand's equity modifying the product

modifying the market repositioning the product modifying the product

The product life cycle is described as Blank______. the movement of a product from the point of manufacture to the point of purchase the financial commitment a firm makes in a product from development to its disposal the evolution a product goes through in the marketplace, from introduction to decline the process by which a product is given new features and benefits to improve it

the evolution a product goes through in the marketplace, from introduction to decline

The different stages a product goes through during its existence is known as Blank______. Multiple choice question. the development cycle product branding market modification the product life cycle

the product life cycle

When a firm sells all its products under one Blank______, such as Pepperidge Farm, the individual products benefit from the overall brand awareness associated with it. Multiple choice question. family brand premium brand individual brand exclusive co-brand

family brand

What are two criteria often used in naming successful brands? Multiple select question. cryptic names controversial names complex names names without legal restrictions emotional names

names without legal restrictions emotional names

When P&G added vitamins to its Pantene shampoo and conditioner formulas, it used Blank______ to revamp the brand. Multiple choice question. product modification brand personality market modification repositioning

product modification

The process of changing the place a product occupies in a consumer's mind relative to competitive products is referred to as product Blank______. Multiple choice question. modification segmentation rebranding repositioning

repositioning

When a firm uses branding to identify its products and distinguish them from its competitors, its uses what elements to do so? (Select all that apply) Multiple select question. unique symbols packaging design product names production technology product price

unique symbols packaging design product names

Products in the Blank______ stage of the product life cycle tend to consume a disproportionate share of management and financial resources relative to their future worth. Multiple choice question. growth decline maturity introduction

decline

One advantage of a product line Blank______ is that the company can spend less money to develop brand awareness. Multiple choice question. redevelopment extension repositioning consolidation

extension

The diffusion of innovation curve illustrates the typical rate of adoption for a product or service among consumers. According to the diffusion of innovation curve, when would marketers expect to see highest frequency of adoption for a given product? Multiple choice question. At either end of the curve Toward the end of the curve In the middle of the curve At the beginning of the curve

in the middle of the curve

In the Blank______ stage of the product life cycle, most consumers who would buy the product are either repeat purchaser of the item or have tried and abandoned it, making it more challenging to acquire new customers. Multiple choice question. competition growth maturity introduction

maturity

______ can create customer value by offering communication, functional, and perceptual benefits. Multiple choice question. Packaging Brand equity Mixed branding Licensing

packaging

The benefits packaging and labeling provide a product include which of the following? Multiple select question. segmentation perceptual functional communication

perceptual functional communication

When Harley-Davidson advertises to reinforce the perception that the brand is masculine, rugged, and individualistic, it is building brand Blank______. Multiple choice question. awareness sensitivity personality value

personality

A Blank______ extension is the practice of using a current brand name to enter a new market segment in its product class. Multiple choice question. product line brand family labeling

product line

The growth stage of product life cycle is characterized by more competition and a Blank______. Multiple choice question. leveling off of sales steady amount of sales rapid increase in sales slight decline in sales

rapid increase in sales

What are two key characteristics of the growth stage of the product life cycle? rapid increase in sales declining profits marketers stimulating primary demand decrease in repeat buyers increasing competition

rapid increase in sales increasing competition

The decline stage for a product occurs when ______. all advertising options have been used the firm has made enough money off the product sales for the product drop no more competitors enter the market

sales for the product drop

What are two key characteristics of the introduction stage of the product life cycle? Multiple select question. high profit fierce competition slow growing sales high demand minimal profit

slow growing sales minimal profit

A product line extension benefits from Blank______. Multiple choice question. the appeal of trying to come up with a new product class the brand equity of the multi product brand the reduced costs associated with having the product manufactured by someone else a partner's ability to help introduce it into a new product class

the brand equity of the multi product brand

Match the following market modification methods with the correct example.1.Finding new customers2.Increasing a product's use3.Creating a new use situation

1. LEGO is appealing to consumers outside its traditional market (boys) with a new product line for young girls called LEGO Friends.2. The Florida Orange Growers Association advocates drinking orange juice throughout the day rather than for breakfast only.3. Originally intended as a single pant for every activity, Dockers now promotes different looks for different occasions: work, weekend, dress, and golf.

Put the following steps for building brand equity in order, with the first step on top.

1. develop positive brand awareness 2. establish a brand's meaning in consumers' minds 3. elicit proper consumer responses to a brand's identity 4. create a consumer-brand connection

While early adopters are crucial to the success of a new product, they still only make up a relatively small percentage of the total consumers in a given product market. This percentage is approximately how big? Multiple choice question. 5.5 percent 13.5 percent 25 percent 30 percent

13.5 percent

The innovation diffusion process refers to the rate at which Blank______. Multiple choice question. consumers recommend a product or service marketers are able to promote a product or service consumers adopt a given product or service competitors move to copy a product or service

consumers adopt a given product or service

Who is responsible for managing existing products through the stages of the life cycle? Multiple choice question. service manager marketing manager supply chain manager brand manager

brand manager

The set of human characteristics, such as physical traits associated with a brand, is the definition of Blank______. Multiple choice question. brand assets brand association brand personality brand awareness

brand personality

Which two of the following are steps in building brand equity? Multiple select question. protect the brand through trademark create a consumer-brand connection establish a brand's meaning in the consumers' minds calculate an ROI for branding expenditures

create a consumer-brand connection establish a brand's meaning in the consumers' minds

An example of a company connecting with customers to add value in its package redesign strategy is Blank______. Multiple choice question. having a 1-800 number to answer questions about product use creating a resealable package in response to consumer habits facilitating Internet purchases for customers by improving the website using a focus group to determine which ads are liked best

creating a resealable package in response to consumer habits

When Nestle or McDonald's modify their packaging to use more recyclable material, they are responding to what challenge regarding packaging and labeling? Multiple choice question. investor concerns environmental concerns consumer safety and security issues government pressures

environmental concerns

The added value a brand name gives to a product beyond the functional benefits the product provides is called brand Blank______. Multiple choice question. equity esteem capture personality

equity

During the introduction stage sales are ______ and profit is ______. Multiple choice question. fairly stable; steady growing rapidly; high growing; declining growing slowly; minimal

growing slowly; minimal

Product repositioning means changing the product's position ______.

in the minds of consumers

The diffusion of innovation curve shows the typical distribution of adoption for five different categories of consumers. Rank the order of these consumers, starting with the first group on the top and ending with the last adopter group on the bottom.

innovators early adopters early majority late majority laggards

Select two key characteristics of the maturity stage. Intense competition on price occurs. Buyers enter the market at a rapid pace. Revenues begin to increase rapidly. Many new competitors enter the market. Marketing costs are directed at holding market share.

intense competition on price occurs marketing costs are directed at holding market share

Packaging refers to which two of the following? Multiple select question. It has a label on which information is conveyed. It is any container in which a product is offered for sale. It is one of the 4Ps of the marketing mix. It is defined as the functional benefits of the container.

it has a label on which information is conveyed it is any container in which a product is offered for sale

Private-label branding is popular because Blank______. Multiple choice question. suppliers have better access to material inputs consumers have growth to dislike generic options for products it results in high profits for manufacturers and resellers manufacturers benefit from selling products directly to consumers without any intermediaries

it results in high profits for manufacturers and resellers

A Blank______ identifies the product or brand, the package contents, and other information like where the product was made, when, and by whom. Multiple choice question. brand mark label warranty trade name

label

Match the methods for managing a product through its life cycle to its correct description

modifying the product: Altering one or more of a product's characteristics to increase its value to customers and increase sales modifying the market: Trying to find new customers, increase a product's use among existing customers, or create new use situations repositioning the product: Changing the place a product occupies in a consumer's mind relative to competitive products, sometimes by changing marketing mix elements to bolster sales

Marriott International owns several brands of hotels at different price ranges, such as Marriott, Courtyard, and Fairfield Inn, in what is called a Blank______ strategy. Multiple choice question. mixed branding multibranding multiproduct private labeling

multibranding

When a firm uses a distinct name for each of its products, it is called a Blank______ strategy. Multiple choice question. private labeling multiproduct multibranding mixed branding

multibranding

With Blank______ branding, a company uses one name for all its products in a product class. Multiple choice question. private consolidated mixed multiproduct

multiproduct

Private brands are also known as Blank______ brands. Multiple choice question. premium national manufacturer reseller luxury

reseller

What is mixed branding? Multiple choice question. when a company markets each of its products with a different brand name when a company utilizes subbranding within a multiproduct brand strategy when a company markets products under its own name and that of a reseller when two companies brand their products together to create a new brand

when a company markets products under its own name and that of a reseller

Brand equity results in lucrative brand Blank______ opportunities, when another company wishes to pay a royalty or fee to use your brand name or trademark. Multiple choice question. strategy restriction licensing personality

licensing