MKTG 304 Exam 3

Which of the following statements does NOT apply to convenience goods?

Consumers are brand loyal to convenience products and are not likely to substitute other brands

Angela loves going shopping. After a long day at work, she stops by a local shopping center. First, she decides to stop by Barnes & Nobles. Angela's favorite bookshop is the small, locally-owned bookshop close to her home, but she visits Barnes & Noble because it is convenient. Next, she stops by a local Starbucks, where she likes to try new things. When she looked at the menu, she saw the name of a new latte she had heard about from friends and decided to try it. Then she went to Sephora to pick up some lipstick that she has run out of. However, when she gets there, Angela finds Sephora is out of lipstick. She is tired after her long day and annoyed that they are out of the lipstick. Because it is her favorite brand, Angela decides she will just have to come back another day. Angela displays ______________ for Barnes & Noble, ___________ for the latte at Starbucks, and ______________ for the lipstick.

Brand preference, brand recognition, brand insistence

Labeling is used to perform only two roles: to promote and to inform

False

The Federal Trade Commission is solely responsible for establishing and enforcing packaging regulations

False

To try to be creative in developing a label is not worth the effort; most people prefer products to be labeled only with the brand name and relevant consumer information

False

Of the following choices, which would be the easiest brand name to legally protect?

Tarzink Yogurt

Which of the following issues is least important in using co-branding effectively?

The brands involved should be owned by different companies

Brand licensing gives a company the ability to gain more revenue and low-cost or free promotional exposure

True

Functional modification usually require that the product be redesigned

True

If Saluki School Furniture Company provides standard primary school chairs is new colors to match the interiors of schools, this modification is most likely to be viewed as a(n) _____________ modification.

aesthetic

The three major ways to modify a product include

aesthetic, quality, and functional changes.

When Marvel characters appear on apparel made by another company, this would be an example of

brand licensing

When a product tries to capitalize on the brand equity of two separate brands, marketers are using

co-branding

Jonah is a member of a consumer panel consisting of about 30 people. The consumer panel has been introduced to a company's new idea for energy drinks. Some of the questions panel members have been asked are "How often would you buy this product?" and "Which features are of little or no interest to you?" Jonah is most likely participating in the ___ phase of the new-product development process

concept testing

Millie's Cookie House sells cookies, pastries, and muffins. She offers 30 different types of cookies, 20 different types of pastries, and 10 types of muffins. While not all of these are available in-store, customers can special order or have the baked goods catered. The depth of the product mix that Millie's offers is ______________, while the width of the product mix is ___________________.

deep; narrow

A run-out policy of product deletion

exploits any strengths left in the product

During the growth stage of the product life cycle, marketers must

fortify/strengthen the product position

A product that is simply labeled with the product category is considered a

generic brand

The manager at an engine manufacturer has asked a venture team to develop a more improved version of its most popular engine. Currently, the members of the venture team ​are brainstorming ways to improve the engine so that it better serves its target market. It decides to send customers surveys asking them what features they would like to see in a new engine. The venture team is most likely in the _________________ stage of product development.

idea generation

Which of the following statements about labeling is false

labels do not have to disclose nutritional information

Harry is an athlete who plays a variety of sports that all require various athletic shoes. He has a favorable attitude toward Under Armour shoes. This favorable attitude is called brand

loyalty

The annual Consumer Reports magazine rating of your company's flagship product was just released. Generally speaking, the rating was good but not great. Based on the consumer comments that were referenced in the rating, it appears that many consumers have a negative view of the product's convenience and safety attributes.​ In order to address these consumer concerns your company should consider doing which of the following?

make functional modifications to the product

During the introduction stage of successful product, profits are usually

negative and increasing

Product decision can best be described as the process of deleting a product from the product mix when it

no longer satisfies a sufficient number of customers

Madison is a graphic artist who is currently working on the development of a new container for mustard and mayonnaise. She is also developing its graphic design. Madison is likely working on the product's

packaging

Marketers begin to make decisions about labeling, packaging, branding, pricing, and promotion during

product development

The decisions and activities intended to create and maintain a certain concept of the firm's product, relative to competitive brands, in customers' minds are best described as _______.

product positioning

Gain liquid laundry detergent comes in a 40-ounce plastic bottle with a pour spout. When that bottle is empty, consumers can purchase Gain in a plastic pouch designed to refill the original 40-ounce plastic bottle. The pouches use less packaging, store flat, and cost less; however, they are not for repeated usage. The use of the original Gain 40-ounce bottle is an example of a(an)...

reusable container

Private distributor brands are owned by

wholesalers or retailers

One company markets such diverse products as Old El Paso Mexican foods, Yoplait yogurt products, and Blue Buffalo pet foods. These various offerings exhibit this firm's product mix

width