Product, Branding, and Packaging

Everything that a good, service, or idea means to customers is represented by a(n) _____.

Brand

Select all of the items from the list that represent concepts firms must understand in order to produce profitable products. Consumers' needs Consumers' wants The international market Competitors' design processes

Consumers' needs Consumers' wants

From the following list, select the statements that are true about using data to understand and monitor branding strategy. A scandal involving the CEO of a firm is not a major concern when monitoring brand strategy. Data are used to adjust branding strategy, which allows firms to respond to a threat or to seize an opportunity. Through market scanning, firms can continuously collect data regarding any potential threats. Brands exist primarily in the minds of consumers.

Data are used to adjust branding strategy, which allows firms to respond to a threat or to seize an opportunity. Through market scanning, firms can continuously collect data regarding any potential threats. Brands exist primarily in the minds of consumers.

Products are categorized according to which of the following consumer characteristics? More than one answer may be correct. How the consumer markets the product How the consumer shops for the product How the consumer sells the product How the consumer uses the product How the consumer pays for the product

How the consumer shops for the product How the consumer uses the product How the consumer pays for the product

Select all that apply Which actions in the following list can marketing analytics be used to accomplish? More than one answer may be correct. Enhance regulatory compliance. Inform product line extensions. Design packaging. Identify and confirm product value.

Inform product line extensions. Design packaging. Identify and confirm product value.

Which actions in the following list can marketing analytics be used to accomplish? More than one answer may be correct. Inform product line extensions. Identify and confirm product value. Design packaging. Enhance regulatory compliance.

Inform product line extensions. Identify and confirm product value. Design packaging.

What are the two main marketing strategy considerations for packaging? Reinforcing brand image Promoting brand image Increasing brand convenience Expanding the brand's product line

Reinforcing brand image Promoting brand image

Marketers often use data to identify and confirm product values. From the following list, select all relevant sources of these data. Surveys Competitors Observational studies Interviews

Surveys Observational studies Interviews

Select all of the following that are true statements about using data to inform product line extensions. Product line extensions are relatively inexpensive and have little financial impact. The firm has to carefully examine the data related to brand attributes and brand strengths. If the brand presents a line extension that is inconsistent with the brand, then consumers will reject that product. Prior to the launch of a new product, concept testing should be conducted.

The firm has to carefully examine the data related to brand attributes and brand strengths. If the brand presents a line extension that is inconsistent with the brand, then consumers will reject that product. Prior to the launch of a new product, concept testing should be conducted.

What is involved in co-branding? One company promoting the same product under two different names Two companies issuing two different products with the same name One company linking two of its brands Two companies issuing a single product

Two companies issuing a single product

Consumer's thoughts that are related to their memories of a brand are known as brand _____.

associations

A firm has high ____ equity if its consumers perceive its product in a positive light.

brand

When a consumer displays strong allegiance to a brand by purchasing it again and again, that consumer is exhibiting ____ loyalty

brand

The three components of a product are ______. recognition, mark, and association physical, service, and idea core, actual, and augmented virtual, distance, and simulated

core, actual, and augmented

A major function of sustainable packaging is to ______. produce inexpensive plastic products that are thrown away after a single use maximize the amount of space a product takes up in a truck create products that can be recycled or that degrade after use provide multiple layers of protection for even the sturdiest products

create products that can be recycled or that degrade after use

Research data help companies create packaging that is aesthetically pleasing and ______ because it protects goods in transport and ensures shelf stability. convenient functional affordable sustainable

functional

If the company has high brand equity, the likelihood that a consumer will choose to buy a company's brand instead of a competing brand ______. increases remains unchanged decreases

increases

A product ______ is part of a larger product ______, which is part of an even larger product ______. item; line; mix line; mix; item item; mix; line mix; item; line

item; line; mix

When a customer repeatedly buys a branded product, even if it is priced higher than a similar product on sale, that customer is exhibiting brand _____.

loyalty

Unlike private label/store brands, ____ brands are owned and managed by the company that makes them.

manufacturer

The activities involved in creating a product's container are collectively referred to as ______. distribution packaging branding marketing

packaging

Consumers assess products based on how well they meet their personal standards and expectations. This is known as ______. When this aspect is high, companies ______. brand recognition; should revise their brand marks brand loyalty; should revitalize their brand perceived quality; can charge more for their products brand associations; can ignore the brand loyalty component

perceived quality; can charge more for their products

A brand that is developed and sold by a specific retailer is a ______ brand. A brand that is managed and owned by the company that makes it but is sold by a wide variety of stores is a ______ brand. manufacturer; co-brand private label; manufacturer national; store co-brand; private label

private label; manufacturer

Packaging demonstrating a company's commitment to do what it claims it does is used to reinforce its brand image, and packaging that reminds consumers of a company's products is used to ______ its brand image. reinforce diminish promote change

promote

Another name for a brand revitalization strategy is _____.

rebranding

When implementing a brand revitalization strategy, it is often necessary to begin by ______. rebuilding customer trust drastically reducing the product's price eliminating the competition changing the product altogether

rebuilding customer trust

Brand ______ is defined as how well consumers can identify the brand in various situations. comparison loyalty recognition equity

recognition

For years, Softly used the image of a cute, tiny chick on its fabric softener bottles. So when the company changed the image to a simple feather, customers had a lot of difficulty identifying the brand. This is an example of how important it is for a company to have an image or logo that promotes brand ______.

recognition

Recent research shows that 39% of consumers ______. have had a bad online shopping experience shop exclusively online share product images online try to buy recycled products

share product images online

One component of brand equity is ______, which is how well consumers are able to identify the brand in a variety of situations. To achieve this, companies use words as well as ______, which are brand elements such as color, design, or symbols that consumers can immediately identify. perceived quality; product lines brand associations; brand qualities brand recognition; brand marks brand loyalty; brand patents

brand recognition; brand marks

Companies use elements like names, terms, symbols, and designs to create ______, which help customers identify and differentiate products. When this process is successful, companies derive value, or ______, from customers' positive views of their products. augmented products; brand depth breadth; product line depth convenience; product mix brands; brand equity

brands; brand equity

A firm that decides to improve its own brand equity by utilizing the equity of another brand is engaging in a ______ strategy. brand extension co-branding rebranding brand revitalization

co-branding

When two or more companies issue a single product in an effort to capitalize on the equity of each company's brand, it is called ______. brand recognition co-branding brand revitalization brand extension

co-branding

What are the three components of a product? Actual product component Augmented product component Core product component Convenience product component

Actual product component Augmented product component Core product component

Brand equity consists of which of the following main components? More than one answer may be correct. Brand associations Perceived quality Brand loyalty Brand marks Brand recognition Product mix

Brand associations Perceived quality Brand loyalty Brand recognition

From the following list, select all of the choices that are knowledge metrics used to determine brand equity. Brand awareness Brand structure Brand preference Brand associations

Brand awareness Brand associations

Select all that apply Which of the following are common brand strategies? More than one answer may be correct. Brand extension Co-branding Brand recognition Brand revitalization

Brand extension Co-branding Brand revitalization

What are the three most common branding strategies? Brand extension, brand revitalization, and co-branding Brand loyalty, brand association, and brand recognition Convenience, shopping, and specialty Core, actual, and augmented

Brand extension, brand revitalization, and co-branding

To better understand how their product creates value and fulfills consumers' needs or wants, firms do which actions in the following list? More than one answer may be correct. Collect and analyze quantitative and qualitative consumer data on product features and intangible aspects. Review sales data on consumers' most recent purchasing behavior. Use market scanning to collect continuously updated consumer data. Conduct interviews and observational studies on how consumers view their products.

Collect and analyze quantitative and qualitative consumer data on product features and intangible aspects. Review sales data on consumers' most recent purchasing behavior. Conduct interviews and observational studies on how consumers view their products.

What is the best definition of brand associations? How well consumers can recognize a brand in various situations Consumers' allegiance to a brand as demonstrated by repeated purchases Consumers' thoughts related to their memories of a brand Consumers' view of a brand's overall quality

Consumers' thoughts related to their memories of a brand

What is the best definition of perceived quality? Consumers' allegiance to a brand as demonstrated by repeated purchases How well consumers can recognize a brand in various situations Consumers' thoughts related to their memories of a brand Consumers' view of how well a brand meets personal parameters and expectations

Consumers' view of how well a brand meets personal parameters and expectations

Select from the following list, the four main categories into which all products can be categorized based on characteristics of how the consumer shops, pays, or uses the product. Convenience Shopping Evolving Unsought Specialty

Convenience Shopping Unsought Specialty

From the following list, select the four steps of a successful branding strategy. Deliver a quality product Partner with competing brands Create consistent brand messaging Create a consistent brand image Capture feedback

Deliver a quality product Create consistent brand messaging Create a consistent brand image Capture feedback

Marketing analytics can be used to accomplish which of the following? More than one answer may be correct. Create management strategies to monitor employees. Determine packaging. Determine brand equity. Understand and monitor branding strategy.

Determine packaging. Determine brand equity. Understand and monitor branding strategy.

Which of the following is a true statement regarding brand equity? It can be analyzed using universally agreed upon measures. To measure the value of their brand equity, firms must measure intangible brand assets. It is impacted by a variety of intangible factors. There is no way for firms to measure tangible brand assets.

It is impacted by a variety of intangible factors.

Which of these statements are true of a brand extension strategy? More than one answer may be correct. It must be used to increase the company's brand equity by leveraging the equity of another brand. It must begin with an investment in rebuilding trust with consumers. It must be implemented with an eye toward avoiding cannibalization. It must ensure that the extension lives up to the quality consumers expect from the brand.

It must be implemented with an eye toward avoiding cannibalization. It must ensure that the extension lives up to the quality consumers expect from the brand.

What are the four main components of building brand equity? Monitoring the competitive environment Managing consumers' memories associated with the brand Creating brand loyalty among consumers Delivering a product that consumers view as being high quality Creating a brand image that consumers recognize Training and empowering employees

Managing consumers' memories associated with the brand Creating brand loyalty among consumers Delivering a product that consumers view as being high quality Creating a brand image that consumers recognize

From the following list, select all of the choices that are preference metrics used to determine brand equity. Measures of accessibility Measures of product placement Measures of emotional connection Measures of brand relevance

Measures of accessibility Measures of emotional connection Measures of brand relevance

Product _____ is typically an aggregate of all of a company's product lines.

Mix

The process creating containers for physical products is known as ____.

Packaging

A company's ______ is defined as the service, idea, or good that the company offers to its target consumers. Product Innovation Marketing Technology

Product

From the list below, select the four functions of packaging. Provide for sustainability. Advertise and promote products. Reduce the price of a product. Contain and protect products. Increase convenience of the product.

Provide for sustainability. Advertise and promote products. Contain and protect products. Increase convenience of the product.

What is the best definition of a product? A good or service that is mass produced and offered in large quantities Any item of value that an individual or a business needs or wants The specific combination of goods, services, or ideas that a firm offers to its target market The physical item that is received in exchange for money, time, or effort

The specific combination of goods, services, or ideas that a firm offers to its target market

Which of the following are true statements about sustainable packaging? More than one answer may be correct. The sustainability of packaging extends beyond its ability to be recycled or its biodegradable properties. Many manufacturers devote a great deal of research and development into eliminating any waste in their packaging. Sustainable packaging is required by law in the United States. A major function of packaging is to create sustainable products that can be recycled or that degrade after use.

The sustainability of packaging extends beyond its ability to be recycled or its biodegradable properties. Many manufacturers devote a great deal of research and development into eliminating any waste in their packaging. A major function of packaging is to create sustainable products that can be recycled or that degrade after use.

Consumer's thoughts tied to their memories of a brand are known as ______. These thoughts have a major impact on ______, as they can inspire consumers to make brand purchases and give positive reviews or, conversely, spur the desire to purchase a competing brand and give negative reviews. brand associations; brand equity brand recognition; perceived quality brand loyalty; product mix perceived quality; product mix breadth

brand associations; brand equity

The process of broadening the use of an organization's current brand to include new products is ______. brand revitalization brand equity brand extension co-branding

brand extension

After Terrence bought his first pair of Levi's, he was pleased with his purchase. He likes the feel of the jeans and the way they fit. Even though there are many brands to choose from, Terrence is certain he will continue buying Levi's for years to come. In terms of brand equity, Terrence's plan for future purchases exemplifies ______. brand recognition perceived quality brand association brand loyalty

brand loyalty

Companies have two primary marketing strategy considerations for packaging. One of these is ______. The other main consideration is ______, which in part means fulfilling, not contradicting, the promise made by the text on the packaging. promoting the product line; increasing brand recognition increasing the product mix; increasing brand expansion increasing the perceived quality; reinforcing brand associations promoting the brand image; reinforcing the brand image

promoting the brand image; reinforcing the brand image

Juanita was grocery shopping with her three-year-old son. When they entered the cereal aisle, her son exclaimed, "Look, Tony the Tiger! Can we get some Frosted Flakes, please?" Juanita's son's reaction is best described as an example of brand ______. quality association recognition equity

recognition

A unique package shape promotes brand image, while using environmentally friendly materials in the package ______ brand image. introduces alters conceals reinforces

reinforces

If a product line extension is inconsistent with the brand, then consumers will ______ the product. copy reject pay more for purchase more of

reject

Firms can continuously collect data regarding any potential threats to, or opportunities for, their brand through market ______. timing segmentation scanning penetration

scanning

Packaging should advertise, promote, contain, and protect products, while also being ______ and increasing product ______. expensive; price sustainable; convenience simple; line depth technical; complexity

sustainable; convenience