POM11

For most products, the label is used for ______.

promotion and branding (label provides info for the customer about the product and the brand)

Brand repositioning is also known as ______.

rebranding

For most products, the UPC code is located on the ________ package.

secondary

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

mix

Which of the following is an example of brand extension?

Acme chips to Acme dips

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

An established track record in the market A loyal customer base

A strong brand protects firms from which of the following?

An existing competitor lowering prices New products offering similar features or benefits

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

Food and Drug Administration

.Branding enables a firm to do which of the following?

Make consumers aware of available products Differentiate its product offerings

Which traits are true of ALL products?

Offered through a marketing exchange Something that a customer values

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

a family brand

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

actual product

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

associated products

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

augmented product

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

brand

________ reflects the mental and emotional link that consumers make between a brand and its key product attributes.

brand association

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

brand awareness

In 2005, Frito-Lay came out with a Cheetos flavored lip balm in a failed attempt at extending its brand to a new product line. To the extent that this brand extension adversely affected consumers' perceptions about its current product lines, this could lead to

brand dilution

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 equity

Hidden Valley is well known for its Ranch dressing. The company also makes and markets seasoning packets, dips, and pasta salads. This represents a ________ strategy.

brand extension

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 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 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 ______.

brand licensing (when 1 company pays another for the right to use its brand name)

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

brand repositioning

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 ______.

brand repositioning (taking an existing brand that may be underperforming and changing marketing strategies to attract new demographic)

Rolex goes to great lengths to protect itself and its products through the use of trademarks and copyrights. This best represents which advantage of branding?

brands are assets

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

co-branding

When Taco Bell teams up with Doritos chips for its Doritos Locos Tacos and advertises them with the Doritos name alongside the Taco Bell name, it 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 ______.

co-branding (use of 2 brands to create an enhanced product)

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

consumer products

When Madison purchases several bottles of Pepsi beverages and snacks to bring to her family's holiday celebration, it represents the purchase of

consumer products

Ajay 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.

convenience

When bicycle manufacturer, Giant, determines that some consumers use bikes for green transportation whereas others use them for a hobby, it is most likely assessing the ________ of its bicycles to consumers.

core customer value

If a firm deletes an entire product line, it has

decreased its breadth

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

differentiate

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

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

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

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

extension

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

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.

family brand

In response to increased consumer demand for healthful beverages, Coca-Cola and Pepsi introduced new product lines of fruit juices in order to ________ their product mix.

increase the breadth of

Dasani produces a variety of bottled water beverages, and as the market continues to show growth potential for new flavors and varieties of bottled water, the company should ________ its product lines.

increase the depth of

Nike develops its merchandise, produces it to ensure consistent quality, and invests in a marketing program to establish an appealing brand image. Nike is an example of a ________ brand.

manufacturer

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

manufacturer

What are the two basic types of brand ownership strategies?

manufacturer brand retailer/store brands

Loyalty

may contribute to the value of a brand, but it is only a small part of overall brand equity

Fill in the blanks to complete the sentence. The complete set of all products and product lines offered by a firm is called its product assortment, or product }_________

mix

Profitability

one aspect of overall brand equity

Target's A New Day women's clothing line provides higher quality apparel at Target-level pricing, enhancing the product's

perceived values

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.

private label

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

product

A(n) ________ is anything that is of value to a consumer and can be offered through a voluntary marketing exchange.

product

General Mills has a variety of brands in its snacks category, including Chex, Nature Valley, Fiber One, and Cascadian Farm. This represents a

product line

Founded in 1842, Mott's started selling apple juice in 1938, and now offers a wide variety of apple-based products in its product line. Mott's, over the years, increased its

product line depth

The complete set of 'General Mills' offerings includes cereal, toaster pastries, snacks, soup, yogurt, and baking products. This represents its

product mix

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

specialty

_________ packaging is better for the environment than traditional packaging

sustainable (less of a negative impact on environment; recyclable)

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

the basic benefits consumers are seeking

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

the core customer value

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

true

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.

unsought product

Ideas for sustainable packaging include which of the following?

using 3d printing adding recycled materials to packaging using returnable packaging