Marketing Chapter 8&9

Due to dropping sales, a company that manufactures soaps begins to sell them to restaurants and hotels to extend their product's life. The soap manufacturer is in the ________ stage of the product life cycle (PLC). Select one: a. decline b. introduction c. maturity d. growth e. development

Decline

Costco's Kirkland Signature products are an example of a ________. Select one: a. private brand b. generic brand c. support brand d. national brand e. manufacturer's brand Feedback

Private brand

________ occurs when a company lengthens its product line beyond its current range. Select one: a. Niche marketing b. Market diversification c. Co-branding d. Product line stretching e. Product line filling

Product line stretching

All the product lines and items that Walmart offers for sell is known as its _________. Select one: a. product mix b. store brand c. supply chain d. line extension e. value chain

Product mix

________ occurs when two established brand names of different companies are used on the same product. Select one: a. Licensing b. Co-branding c. Cannibalization d. Niche marketing e. Market diversification Feedback

Co-branding

Which of the following is a potential drawback of multibranding? Select one: a. Each brand might obtain only a small market share, and none may be very profitable. b. Company resources are likely to be concentrated on a single brand. c. Multibranding causes companies to refrain from product diversification. d. Multibranding tends to decrease brand loyalty. e. Multibranding curbs the growth opportunities of established brands.

Each brand might obtain only a small market share , and none may be very profitable

All of the following are disadvantages of test marketing EXCEPT that test marketing ________. Select one: a. encourages dishonesty among participants b. is typically expensive c. enables competitors to gain advantages d. fails to guarantee product success in the market e. can be time consuming

Encourages dishonesty among participants

Brand ________ is the differential effect that knowing the brand name has on customer response to the product and its marketing. Select one: a. equity b. knowledge c. relevance d. personality e. differentiation

Equity

Which of the following is an example of a convenience product? Select one: a. refrigerator b. fast food c. life insurance d. diamond ring e. furniture Feedback

Fast food

Which of the following is true with regard to brand equity? Select one: a. The total financial value of a brand can be easily measured. b. Positive brand equity derives from low brand esteem. c. A brand has positive brand equity if consumers react less favorably to it than to an unbranded version. d. High brand equity provides a company with many competitive advantages. e. Brand equity refers to how much consum

High brand equity provides a company with many company with many competitive advantages

Service ________ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought.Select one: a. heterogeneity b. variability c. inseparability d. intangibility e. perishability

Intangibility

At which stage in the product life cycle (PLC) do profits start to decline and fewer competitors exist in the market? Select one: a. growth b. introduction c. harvest d. maturity e. beginning

Maturity

________ are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. Select one: a. Unsought products b. Shopping products c. Specialty products d. Convenience products e. Capital items Feedback

Specialty Products

Service ________ means that the quality of services depends on who provides them as well as when, where, and how they are provided. Select one: a. intangibility b. perishability c. inseparability d. heterogeneity e. variability

Variability

Consumer products refer to ________. Select one: a. products purchased by consumers for further processing or for use in conducting a business b. raw materials as well as manufactured materials and parts c. products that aid in the consumer's production or operations, including installations and accessory equipment d. products and services bought by final consumers for personal consumption e. primarily intangible offerings from marketers

products and services bought by final consumers for personal consumption