Mkt Chaper 11

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

Breadth

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.

What is a product or service for which consumers usually expend no effort toward decision making?

Convenience product/service

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

Customers

A mobile phone manufacturer decides to eliminate its flip phone product line to focus on the more popular touchscreen products. What is this an example of?

Decreasing breadth

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

Depth

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

Differentiate its product offerings Make consumers aware of available products

Which of the following is a negative consequence that can occur as a result of a brand becoming synonymous with an entire category of products (such as Kleenex or Band-Aid)?

Loss of trademark status

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

The manufacturer

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

If a company's products are too closely related, sales of one brand may ____ , Incorrect Unavailable, or take away sales, from the other brand.

cannibalize

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

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

Since brands are easily recognized by consumers and signify a certain quality level to buyers, brands ______.

help consumers to make quick decisions

The element of a product that is used both to physically protect and to market the item is the ______.

packaging

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

perceived value

Examples of CRM (Customer relationship management) programs include:

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

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

positive

People prefer that the _______ , Correct Unavailable package on their products is convenient in terms of storage, use, and consumption.

primary

Another name for a store brand is a(n) ______ brand

private-label

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

What are the two basic types of brand ownership strategies?

retailer/store brands manufacturer brands

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

A loyal customer base An established track record in the market

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

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

Associated products

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 _______ , Correct Unavailable equity.

Brand

A new clothing brand is struggling to gain market share due to consumers' lack of familiarity with the brand and concerns about the quality of its products. How could the company use co-branding to enhance consumers' perceptions?

By linking with a brand that is well known for its quality

Which of the following is a method firms use to create positive brand associations?

Catchy jingles

Specialty Good

Choice, 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 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

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.

Shopping Good

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

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

Consumer products

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

The risks associated with brand licensing include which of the following?

Diluting brand equity

After signing a number of licensing agreements to allow their characters to appear on clothing, toys, and video games, the makers of a popular television show saw viewership decline and consumer perceptions of the show start to fall. What is the most likely reason for this phenomenon?

Dilution of brand equity through overexposure

Which of the following are components of the actual product?

Features/design Brand name

Which of the following is the best example of a convenience product/service?

Gasoline

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

Goods purchased frequently habitually

Product lines are a part of a product ______.

Mix

The product ______ is the complete set of all products and services offered by a firm.

Mix

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

Mix or depth

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

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

Perceived value Customer loyalty Brand awareness

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

deas for sustainable packaging include which of the following? (Select all that apply.)

Returnable packaging Using 3D printing Using recycled materials in packaging

The ______, Correct Unavailable packaging is the exterior wrapper that contains the product as well as the UPC label used by retailers.

Secondary

Jack and his wife were in need of a new a mattress. They compared mattresses at a few local stores, learning about different brands, before making a purchase. In Jack's case, a mattress is most likely a ______ product.

Shopping

____________ products/services are typically consumer durables, such as a dryer or a refrigerator. Buyers spend a fair amount of effort and time to make the comparisons before purchasing and usually do not know which one or which brand they will buy in advance of the process. (Remember to type only one word per blank.)

Shopping

Which statements are true of ALL products

Something that a customer values Offered through a marketing exchange

__________ 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.

Speciality

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?

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

The physical item to which marketers assign such attributes as the brand name, features/design, quality, and packaging is _____

The actual product

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

The basic benefits consumers are seeking

f 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 acceptance will carry over to the new product.

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

The core customer value

How do brands improve consumers' shopping experience? (Select all that apply.) Multiple select question.

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

When consumers experience brand loyalty, which feeling do they associate with the brand?

Trust

When can brand extensions increase overall sales for a firm?

When the original brand and the extension are complementary products

Co-branding can enhance consumer perceptions of product quality by linking

a brand to an existing well-known quality brand.

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

advertising publicity

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

awareness or recognition

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

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 associations

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

he use of the same brand name within the same product line is called a(n) ______.

brand extension

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 ______. Multiple choice question. brand repositioning

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 licensing

A firm's product mix _____ represents the number of product lines offered by the firm.

breadth

Firms are willing to spend lots of money, such as on very expensive Super Bowl ads, to market a brand in order to ______.

build brand awareness

Marketers invest in developing a strong brand identity to help establish ______.

buyer loyalty

Brand extensions for _____ products, such as the Barbie car sold to be used with a Barbie doll, can increase sales.

complementary

Firms reward loyal customers through ______ programs.

customer relationship management

A firm can delete entire product lines to address changing market conditions; this is also known as ______.

decreasing breadth

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

differentiate

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 ______.

increasing depth

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

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 ______ good/service.

specialty

________ packaging is better for the environment than traditional packaging.

sustainable

Brands are typically legally protected through ______.

trademarks and copyrights

Good marketing increases perceived ____ , Incorrect Unavailable by raising customers' quality expectations relative to price.

value