Marketing Ch. 11 Assigned Reading (SmartBook)

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

The basic benefits consumers are seeking

When consumers see new packaging on a product that is otherwise untouched, they tend to ______.

be more interested in trying the product

For most products, the label is used for ______.

promotion and branding

A brand that is projected to earn $1 billion over the next 12 months has a high brand ______.

value

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

An established track record in the market A loyal customer base

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

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

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

Associated products

When a firm changes its packaging as a means of repositioning its product, what is it trying to accomplish? (Check all that apply.)

Attracting a new target market Appearing more up to date

________ 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.)

Blank 1: Shopping

________ 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.

Blank 1: Specialty or Speciality

________ packaging is better for the environment than traditional packaging.

Blank 1: Sustainable or Sustaniable

________ products/services are those that people don't think about buying or don't know about. (Remember to type only one word per blank.)

Blank 1: Unsought or Unsought products

Products are complex, with multiple components. The term "________ product" (also known as associated services) refers to the nonphysical aspects of the product, such as financing and support.

Blank 1: augmented

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

Blank 1: primary or primmary

Which of the following are components of the actual product? (Choose every correct answer.)

Brand name Features/design

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.

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

Convenience product/service

Product lines are a part of a product ______.

Mix

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

Differentiate its product offerings Make consumers aware of available products

Branding includes which of the following? (Choose every correct answer.)

Distinctive packaging Slogans Logos

True or False: In order to achieve success, a brand must have a name that is a part of the English language.

False

True or False: The sole purpose of a product package is to protect the product from damage while in the supply chain.

False

Which government agency is responsible for enforcing product labeling laws in the United States for consumer products?

Food and Drug Administration

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

Gasoline

Which of the following are components of the augmented product? (Choose every correct answer.)

Product support Warranties

Which of the following are roles played by packaging?

Promoting product features or changes Differentiating a product from competitors Adjusting product sizes for different markets

Labels must comply with laws and regulations and must include which of the following? (Choose every correct answer.)

Safety precautions Ingredients contained in the product

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

Something that a customer values Offered through a marketing exchange

Shopping Good

The consumer compares alternatives and spends moderate amounts of time and effort deciding among products, features, and brands.

Specialty Good

The consumer spends lots of time and effort involved in searching, may compare alternatives and options, and has a good idea of the brand to purchase.

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? (Choose every correct answer.)

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

True or False: Trademarks and copyrights are legal ways to protect brands from being used by others.

True

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

Trust

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

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

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

breadth

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

breadth

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

buyer loyalty

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

Because they include information such as ingredients, nutrition, and the product benefits to a consumer, labels can be considered ______ tools.

communication

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

depth

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

differentiate

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

help consumers to make quick decisions

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.

items

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

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

lines

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

mix

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

packaging

The packaging that the consumer uses is known as the ______ package.

primary

A product's exterior wrapper or exterior carton that contains additional product information is known as the ______ package.

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(n) ______ product.

shopping

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(n) ______ good/service.

specialty

Brands have value as corporate assets and the "value of the brand" refers to ______.

the earning potential of the brand over the next year

Brands are typically legally protected through ______.

trademarks and copyrights

E-book readers existed for many years before Amazon introduced the Kindle, but few consumers were aware of the devices, and sales stayed at very low levels. In the days before the Kindle, e-book reading devices were ______ products for most consumers.

unsought

If a company's products are too closely related, sales of one brand may ________, or take away sales from the other brand, with no net sales, profit, or market share increase.

Blank 1: cannibalize

The complete set of all products and product lines offered by a firm is called its product assortment, or product ________. (Enter one word in the blank.)

Blank 1: mix or depth

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

Blank 1: product, good, or service

The ________ packaging is the exterior wrapper that contains the product as well as the UPC label used by retailers.

Blank 1: secondary or second

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

The actual product