Module 9 Questions

41) The discussion involving male peacocks and their gaudy tails was used to illustrate a. Why consumers often display their "worth" through purchasing positional goods b. Why consumers often display their 'worth" through specialty goods and luxury brands c. Both answers A and B are both correct d. Neither answer A or B are correct.

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17) What statement best describes general quality of products made in the U.S. today? a. Quality is generally lower for U.S. products now, as compared to products made in the past. b. Product quality continues to decline as a result of Firms moving to lower quality materials in an effort to control costs. c. Quality is no longer a major tool for positioning and differentiation. d. *The delivery of high quality now is viewed as a necessary condition to effectively compete. e. A, b, and c are each true.

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8) The strongest and most accurate reason why marketing organizations that want to sustain their revenues should engage in new product development is because: a. Federal regulations require that a certain percentage of a company s products must be new. b. Products pass through life cycles that eventually culminate in their decline and demise. c. Consumers do not buy products that are not new and innovative. d. New products are always more profitable. e. Patent protection lasts for only 17 years; consequently, new products must be ready when patents expire.

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A good or a product is one that has intangible attributes that customers' can perceive through their five senses. A. True B. False

B. False

21) A product or brand ____________ is the mental representation of that product or brand in consumers' minds. a. Position b. Relationhip c. Attitude d. Representation e. Symbol.

a. Position

14) _____________ are those for which consumers compare alternative brands against one another or compare the same brands across multiple retail settings prior to making a purchase decision. a. Shopping b. Durable c. Specialty d. Convenience e. B2C.

a. Shopping

11) Think about the 5th category in our consumer goods classification, the one called "positional" products. Did the natural human desire to acquire and display positional products in order to elevate their social status: a. Speak poorly (in an unflattering fashion) about human nature. b. Speak well (in a flattering fashion) about human nature. c. Speak mostly about the nature of emus and their nature, rather than human nature. d. Have nothing at all to say about human nature.

a. Speak poorly (in an unflattering fashion) about human nature.

32) The symbols marketers use to differentiate their brands matter greatly because: a. Symbols can say in an instance what words cannot b. Symbols are more easily remembered than designs or colors c. Certain languages, including most prominently, Chinese, are based on symbols. d. Consumers, in particular, are more likely to hate on words or designs than they are to dislike symbols

a. Symbols can say in an instance what words cannot

22) Brand equity refers to: a. The extent to which customers are willing to pay more for a product or service. b. The promises made by a successful brand. c. The wealth or ownership stake that firms must expend to achieve branding success. d. The fact that brands exist not only in the real world but also in the minds of customers.

a. The extent to which customers are willing to pay more for a product or service.

26) Brands, regardless of their dominant form (colors, designs, signs, names), exist as symbols a. True b. False

a. True

27) Brands, are not just symbols, they are also psychological constructs: a. True b. False

a. True

29) Brand equity and brand loyalty, when present, generally allow marketers to raise prices without losing much if any market share. a. True b. False

a. True

38) The best designs that those that are conceived and built to be as simple as possible, easy of the eyes as well as easy to use. a. True b. False

a. True

40) The terms luxury brands and positional goods are often synonymous. a. True b. False

a. True

43) As compared to products, services are intangible, inseparable (from their point of production and producer); perishable; and variable, (in terms of their quality). a. True b. False

a. True

52) Supposedly, two great truths prevail inside marketing. First, the most precious resource in today's noisy, crowded markets is customers' attention. Second, consumers don't just seek utility (usefulness, or pure problem-solving ability) from products they buy; consumers often also seek meaning. Are both these statements actually true? a. Yes b. No c. The first supposed truth actually is true; the second "truth" is not.

a. Yes

7) Consumers typically buy ______________ goods based on variety seeking, impulse, and inertia behaviors. a. Specialty b. Convenience c. Shopping d. High involvement e. Ethnic.

b. Convenience

24) A good or a product is one that has intangible attributes that customers' can perceive through their five senses. a. True b. False

b. False

42) The marketing of positioning goods often inverts (turns upside down) traditional pricing laws; meaning that higher brand prices often actually increase demand for the branded item. a. True b. False

b. False

46) As illustrated in your book, how many stages make up the product life cycle concept? a. Three b. Four c. Six d. Seven

b. Four

3) Many consumers continually rebuy the same brand but have little or no emotional commitment to the brand. This behavior represents purchasing due to _______. a. Brand loyalty b. Inertia c. Brand preference d. High involvement e. None of the above.

b. Inertia

48) When consumers are deliberating whether to purchase ------------- they expend considerable effort in an attempt to make the best possible choice. Substantial brand versus brand comparison is likely. ---------------- are purchased infrequently. a. Convenience goods b. Shopping goods c. Specialty goods d. Unsought goods

b. Shopping goods

5) Based on presumed characteristics that should be associated with a good brand name, is "Duncan Hines" a good name for cake mixes? (Assume that you have never heard of the "Duncan Hines" brand before.) a. Yes, because it is not regional sounding. b. Yes, because the name directly suggests the benefits to be derived from the product. c. No, because the name suggests nothing about the product * d. No, because it cannot be protected under the Lanham Act. e. Yes, because the name just speaks "cake mix"

b. Yes, because the name directly suggests the benefits to be derived from the product.

35) Which statement best describes the true nature of "consumer goods?" a. Consumer goods are purchased and used by end-use consumers in order to solve or satisfy their own problems-wants-needs b. Consumer goods are purchased and used to solve or satisfy some other consumers' needs-wants-problems. c. Consumer goods are purchased and used by end-use consumers in order to solve or satisfy their own problems-wants-needs; or to solve or satisfy some other consumers' needs-wants-problems. d. Consumer goods are purchased at the end of B2B supply chains.

c. Consumer goods are purchased and used by end-use consumers in order to solve or satisfy their own problems-wants-needs; or to solve or satisfy some other consumers' needs-wants-problems.

13) Purchases for ____________are unplanned. Decisions to buy the product type and brand are made on the spur of the moment as consumers are ostensibly shopping for other products. a. Shopping good purchase b. Staple good purchases c. Impulse good purchases d. Variety-seeking e. Low involvement products

c. Impulse good purchases

12) When consumers become brand loyal they are: a. More likely to engage in information search. b. No longer as likely to experience inertia. c. Less likely to engage in information search. d. More likely to search for information that confirm their expectations.

c. Less likely to engage in information search.

25) When consumers become brand loyal they are: a. More likely to engage in information search. b. No longer as likely to experience inertia. c. Less likely to engage in information search. d. More likely to search for information that confirm their expectations. e. None of the above.

c. Less likely to engage in information search.

19) Which statement is least accurate? In contrast to products, services are: a. Intangible. b. Produced at the point of consumption. c. Less variable in quality. d. Easily inventoried. e. Less likely to be produced in the contemporary U.S. economy.

c. Less variable in quality.

33) Great brands usually tell great stories - or narratives. The rule of successful storytelling is: a. Care enough to pay attention to "listeners", "readers" or "viewers" to hear them b. Leave out the parts no one wants to read, see or hear c. Make hearers, readers, or viewers care d. Get to the point and stay-on-point.

c. Make hearers, readers, or viewers care

47) The development and delivery of ---------- involves applying specialized competencies and performing deeds and processes for purposes of benefiting others that also profit the marketer. Benefitting others generally means customers' problems are solved; i.e., their needs are satisfied. There is one absolutely best answer, because this statement always defines this specific word. a. Products b. Promotions c. Services d. Ideas and NPD output

c. Services

49) When consumers decide to purchase ------------- they generally don't expend much effort or engage in much brand comparison. Customers have already decided which brand inside the product category is special to them; no need exists to further shop around. a. Convenience goods b. Shopping goods c. Specialty goods d. Unsought goods

c. Specialty goods

50) ----------- describes the appearance of products, down to their Websites, packaging or the colors that accompany or complement their brands products. In fact, everything that directly or indirectly communicates anything about branded relates to those brands' ------- a. Design b. Function c. Style d. Form e. Fashion

c. Style

51) ------------- are products/brands that few to no customers typically seek-out. The implication: some marketer truly must truly sell them. Life insurance, gym memberships, burial plots ... these sorts of products illustrate the point. a. Deficit products b. Salutary products c. Convenience goods d. Unsought goods

d. Unsought goods

34) Co-branding occurs when: a. Two brands from the same company are used on the same product. b. Two brands from different companies are used on the same product. c. One company is seeking to expand its brand equity into a new product category and/or market and is willing to pay for the privilege. d. "A" and it alone is correct. e. "B" and "C" are each correct.

e. "B" and "C" are each correct.

20) A mass-marketing (undifferentiated) targeting strategy is most likely to work effectively when: a. The product being marketed is in the early stages of its product life cycle b. The product being sold is not easily differentiated from other brands of the same product c. Little competition exists from other brands d. Market segments exist but are too small to effectively target individually e. All of the above are true.

e. All of the above are true.

10) Which of the following items are not associated with brand names: a. Signs b. Words c. Colors d. Shapes e. All the following are associated with brand names.

e. All the following are associated with brand names

36) Convenience goods are: a. Rarely purchased. b. Purchased only after great thought and effort; i.e., high involvement; extensive problem-solving. c. Widely available in the marketplace d. Purchased without much consumer effort e. C and D are each correct.

e. C and D are each correct.

6) Most products feature three levels. The "level of product" that most closely represents the basic benefits provided by the product is called the: a. Augmented product b. In-tangible product c. Actual or tangible product d. None of the above. e. Core product

e. Core product

37) The concept known as ________ implies that the market demand for industrial/business/governmental goods is directly or indirectly derived from the demand for consumer goods. a. Indirect demand b. Implicit demand c. Explicit demand d. Chain demand e. Derived demand

e. Derived demand

30) The personality of the Hallmark Greeting Card brand; i.e., Hallmark's brand personality, is best described as: a. Rugged b. Existing c. Sophisticated d. Humorous a cut-up e. Sincere

e. Sincere

2) Candice insists on buying only Revlon cosmetics. Rather than purchasing other brands when Revlon is not available, Candice will postpone her purchase or drive substantial distances to find her preferred brand. To Candice, Revlon is what marketers refer to as a (select the best answer): a. Convenience product b. Shopping product c. Consumer product d. Status product e. Specialty product.

e. Specialty product.

16) Which of the following statements do not characterize services? a. Their perishability b. Their intangibility c. Their inseparability d. Their variability e. Their quality.

e. Their quality.

28) Brand equity can also accurately be described as: a. Brand power b. Pricing power c. Brand equity d. A, B, C are all true e. All previous answers are wrong.

d. A, B, C are all true

39) Which of following statements is false? a. Quality is best understood as freedom from defects. b. The presence of quality is directly proportional to the presence of efficiency. c. Quality products brings quantity ... of sales. d. A, B, C are in fact all true e. A, B, C are in fact all false.

d. A, B, C are in fact all true

9) Which answer is correct? Positive brand equity can: a. Increase the "share of mind" space enjoyed by the branded product b. Be used by firms to launch new products more easily c. Charge higher prices and not lose market share d. A, B, and C are each correct e. None of A, B, or C are correct.

d. A, B, and C are each correct

Marketers can establish brand personality and then use those brand's personalities for purposes of: a. Segmentation b. New product Development c. Targeting d. Differentiating

d. Differentiating

4) Convenience goods are most closely associated with which type of distribution strategy? a. Exclusive b. Elusive c. Selective d. Extensive e. Positional

d. Extensive

23) A product or brand ____________ is the mental representation of that product or brand in consumers' minds. a. Relationship b. Attitude c. Representation d. Position e. Symbol.

d. Position

44) Anything that can be offered to individuals, market segments or entire markets for customers' attention, acquisition, use or consumption that might also satisfy their (i.e., individuals', segments', or markets') wants/needs - or solve their problems is best described as a: a. Value b. Solution c. Marketing mix d. Product e. Benefit

d. Product

45) Intangible product are also known as: a. Ideas b. People c. Products d. Services e. Solutions

d. Services

15) __________ entail(s) the application of specialized proficiencies via the execution of actions and processes for purposes of benefitting other entities (usually customers). a. Reward systems b. Customer relations c. Customer incentives d. Services delivery e. Buying behaviors.

d. Services delivery

1) The classification scheme for consumer products presented in class divides consumer goods into three basic categories; convenience, shopping or specialty, in part based upon: a. The types of benefits the product delivers. b. The general consumer problems solved by the products. c. How the product is used by the consumer. d. The level of effort expended during the purchase process. e. None of the above.

d. The level of effort expended during the purchase process.