CH 11 370

Make consumers aware of available products Differentiate its product offerings

Branding enables a firm to do which of the following? (Choose every correct answer.)

Up-front, lump-sum licensing fees Payments based on the value of licensed merchandise sales

What are the common forms of royalty payments in brand licensing? (Choose every correct answer.)

Brand awareness Brand associations Perceived value Brand loyalty

What are the four aspects analysts examine to evaluate brand equity?

Retailer/store brands Manufacturer brands

What are the two basic types of brand ownership strategies?

Retailer/store brands Manufacturer brands

What are the two basic types of brand ownership strategies?

Brand equity

What can be determined by looking at brand awareness, perceived value, brand associations, and brand loyalty?

Cobranding

When Dairy Queen teams up with Oreo cookies for its Blizzard frozen treats and advertises them with the Oreo name alongside the Dairy Queen name, it is an example of

Product

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

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.

Breadth

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

Brand repositioning

A marketer that wants to improve a brand's fit with its target segment or boost the vitality of old brands would most likely use a ________ strategy.

Lines INCORRECT: depth Reason: Incorrect. Product line depth describes the number of products within a single product line. assortments Reason: Incorrect. An assortment of products represents a variety, but the correct term is product lines. breadth Reason: Incorrect. The breadth of a product mix refers to the number of product lines.

A product mix typically consists of product ______, or groups of associated items.

An existing competitor lowering prices New products offering similar features or benefits INCORRECT An overall drop in consumer demand Reason: This choice should not be selected. Consumer demand changes for many reasons beyond a company's control. Changes in industry trends Reason: This choice should not be selected. Brands must change with the times and respond to consumer preferences in order to maintain their competitive advantages.

A strong brand protects firms from which of the following? (Choose every correct answer.)

Promotion and branding Reason: Correct. The label is the portion of the package that provides information for the consumer about the product and the brand.

For most products, the label is used for ______.

Perceived value Customers determine a product's value by weighing its benefits against its costs.

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

Specialty Specialty products are those toward which consumers expend considerable time and effort searching for the best suppliers.

Gabriella spent a lot of time shopping for her wedding dress, spending considerable time and effort visiting some of the finest bridal shops in the area. For Gabriella, her wedding dress is a(n) ________ product.

Value

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

Using the core customer value to determine customer interests

How do marketers begin the process of developing or changing a product?

The licensee pays a royalty to the licensor in exchange for being able to use the licensor's brand.

How does brand licensing work?

Awareness

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.

decreased its breadth. Sometimes it is necessary for firms to delete entire product lines, which decreases breadth

If a firm deletes an entire product line, it has

True

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

Customers

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

Consumer products

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

Associations Correct. The qualities and characteristics consumers associate with brands are known as brand 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 ______.

co-branding Reason: Correct. The use of two brands, Doritos and Taco Bell, to create an enhanced product is an example of 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 ______.

1. Using core customer value to determine what customers are seeking 2. Making an actual physical product 3. Adding associated services

Place these three steps marketers follow to develop or change a product into the correct order, with the first step at the top and the last step at the bottom

Mix

Product lines are a part of a product ______.

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Repeated

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

Family

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

private-label In recent years, as the size of retail firms has increased through growth and consolidation, more retailers have the scale economies to develop private-label merchandise and use this merchandise to establish a distinctive identity.

As the size of retail firms has increased through growth and consolidation, more retailers have developed ________ merchandise, which they use to establish a distinctive identity.

Fewer

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

Goods purchased frequently habitually Reason: Correct. Brand awareness has the greatest impact on goods consumers buy without much thought or purchase habitually.

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

Brand awareness Brand associations Perceived value Brand loyalty

Brand equity is determined by four aspects of a brand, which includes

Rebranding

Brand repositioning is also known as ______.

Differentiate

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

Equity Brand equity functions as an asset for a firm.

Brands are assets that a firm can build and harness over time to increase its ______.

Brands are assets.

Companies like Lacoste go to great lengths to protect themselves through the use of trademarks and copyrights. This best represents which of the following advantages of branding?

CORRECT: BREADTH INCORRECT: Brand dilution Reason: Incorrect. This could be true depending on how brand names are used, but we can't tell from this example. Depth Reason: Incorrect. They might have product line depth too, but we can't tell from this example. Breadth refers to the number of product lines. Brand confusion Reason: Incorrect. This might be true, but we can't tell from this example.

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

Advertising Publicity INCORRECT: Low prices Reason: This choice should not be selected. Low prices are a sales strategy. Brand awareness is created through publicity and advertising. Licensed brands Reason: This choice should not be selected. Brands are licensed after they have achieved high brand awareness.

Examples of communication media that firms use to create brand awareness include which of the following? (Choose every correct answer.)

To build brand awareness Reason: Correct. Super Bowl ads reach many millions of viewers, and as such they contribute greatly to 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 ______.

Brand dilution. Unsuccessful brand extensions can dilute brand equity, leading to brand dilution. This occurs when the brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold.

In a failed attempt at extending its brand to a new product line, Bic introduced a line of disposable underwear. To the extent that this brand extension adversely affected consumers' perceptions about its current product lines, this could lead to

increase the breadth of Companies increase the breadth of their product mixes to capitalize on changing consumer preferences by adding new product lines to their current product mixes.

In response to increased consumer demand for healthful beverages, companies like Coca-Cola and Pepsi introduced new product lines like fruit juice to ________ their product mix.

Family brand In this strategy a marketer markets all its products under its own brand name so that the customers can easily identity its products at the marketplace. For example Apple sells all its products under the brand name and logo of Apple.

In the grocery store, you can see the Kraft name on its Kraft Mayo and on Kraft salad dressings. Having the Kraft name on various products is an example of the use of

Unsought Product

Insurance companies expend a lot of effort marketing their offerings, mainly due to the fact that insurance is a(n) ________ that consumers don't normally think about much.

Product Line Depth Adding new products to an existing product line (first aid) is increasing its depth. Using the same brand name in a different product line would be an increase in the product mix's breadth, or brand extension.

Introduced in 1920, Band-Aid now has more than 40 products in its product line to help heal cuts and scrapes. Band-Aid has, over the years, increased its

Product Line Product lines are groups of associated items that consumers tend to use together or think of as part of a group of similar products.

Kellogg's has a variety of brands in its cookies and crackers ________, including Cheez-It crackers, Bear Naked, Famous Amos cookies, and Austin cookies and crackers.

Family

Kellogg's sells a variety of products under its Kellogg's name brand 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.

Manufacturer

Kraft, Nike, Coca-Cola, KitchenAid, and Sony are all examples of the use of ________ brands.

Convenience

Leo never spends a lot of time or thought picking up lunch when he is at work. For him, lunch items would be considered to be ________ products.

The manufacturer Reason: Correct. Such brands are owned by the companies that make them.

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

Correct. Manufacturer brands and national brands are the same thing.

Manufacturer brands such as Nike and Coca-Cola are also known as ______ brands.

Awareness Brand awareness measures familiarity with a brand and its attributes.

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

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.

Brand licensing

Star Wars memorabilia has been continually successful since the first film was released in the 1970s, and the most recent film releases have led to a massive increase in sales. This is an example of

Brand extension

The Victorinox Swiss Army Company is well known for its Swiss Army knives. The company also makes and markets its Swiss Army brand of watches, travel gear, cutlery, and even fragrances. This represents a ________ strategy.

Mix

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 ______.

Manufacturer

The majority of the brands marketed in the United States are ________ brands.

Association Reason: Correct. This refers to how consumers perceive a brand and the emotions they associate with it.

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

Depth INCORRECT: Mix Reason: Incorrect. The product mix is made up of product lines.

The number of products within a product line is a firm's product line ______.

Co-branding co-branding Reason: Correct. Promoting two brands together at the same time is known as co-branding.

The practice of marketing two or more brands together on the same package or promotion is known as ______.

FDA Food and Drug Administration

The primary federal agency that reviews food and package labels to ensure that the claims made by the manufacturer are true is the

Mix

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

mix

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

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

Brand equity

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

brand repositioning Reason: Correct. Brand positioning involves taking an existing brand that may be underperforming and changing marketing strategies to attract a new demographic.

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 ______.

Extension

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

Line extension Reason: Correct. A line extension increases a product line's depth by adding additional branded products to it. INCORRECT: brand association Reason: Incorrect. A brand association refers to the emotions or opinions elicited by a brand. INCORRECT: brand extension Reason: Incorrect. A brand extension is the use of an existing brand name in a different product line. INCORRECT: augmented product Reason: Incorrect. An augmented product is one with non-tangible added features, such as an extended warranty or product guarantee.

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

Brand equity Brand equity refers to the assets and liabilities associated with a brand that allows it to be compared to other brands.

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

A loyal customer base An established track record in the market' INCORRECT: A hard plastic package Reason: This choice should not be selected. Packaging may play a role in customer loyalty, but plastic packaging would likely be a negative attribute since plastic post-consumer waste is a contributor to environmental degradation. A celebrity endorsement Reason: This choice should not be selected. Celebrities often endorse product, but such endorsements are not necessary to protect a brand from competition.

What does a brand need in order to be somewhat protected from competition from other firms and price competition? (Choose every correct answer.)

Consumers must believe the quality of the cheaper product is about the same as that of a premium product. Reason: Correct. When customers think they are getting similar quality to a premium brand for a lower price, the perceived value of the lower-priced product is high.

What must occur for the perceived value of a cheaper product to be high?

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 could spend less on developing consumer brand awareness.

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.)

Consumer products

When Marina purchased several bottles of Coke beverages and snacks to bring to her family's holiday celebration, it represented the purchase of

Actual Product

When marketers carefully develop a set of product attributes such as the brand name, features/design, and quality level of an offering, they are developing the

Augmented product

When marketers develop nonphysical aspects of an offering by adding warranties, financing, and after-sales service, they are focusing on the

Core Customer value

When the bicycle manufacturer, Trek, determined that some consumers use bikes for green transportation whereas others use them for a hobby, they were most likely assessing the ________ of its bicycles to consumers.

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

Which of the following are included in the ideas for sustainable packaging? (Check all that apply.)

Perceived value Brand awareness Customer loyalty INCORRECT: Lower prices from competitors: Reason: This choice should not be selected. A competitor's lower prices would siphon off customers and hurt a brand's equity, not increase it. Competition Level: Reason: This choice should not be selected. Competition is likely to hurt a brand's equity.

Which of the following help to increase a brand's equity? (Choose every correct answer.)

Associated products Reason: This is an element of the augmented product.

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

Acme chips and Acme dips Reason: Correct. If Acme is known for making chips, adding a dip under the same brand name is known as a brand extension. INCORRECT: cme barbecue potato chips and Acme salt and vinegar potato chips Reason: Incorrect. This would be a line extension because the two types of potato chips are in the same product line. INCORRECT: Acme cars and generic pencils Reason: Incorrect. Generic pencils are effectively unbranded and therefore are not an extension of the Acme brand.

Which of the following is an example of a brand extension?

Coke, in addition to its existing Diet Coke flavors, introduces chocolate-flavored Diet Coke. Reason: Correct. Using the Coke name as part of the new product is a product line extension.

Which of the following is an example of product line extension?

CORRECT: Something that a customer values Offered through a marketing exchange INCORRECT: Bought through an online distributor Reason: This choice should not be selected. A product can be bought through various means or locations. INCORRECT Delivered directly to the consumer Reason: This choice should not be selected. A product does not have to be delivered directly to the consumer.

Which traits are true of ALL products? (Choose every correct answer.)

Brand Awareness

_________ measures how many consumers in a market are familiar with the brand and what it stands for and have an opinion about it.

Sustainable

_________ packaging is better for the environment than traditional packaging.