BUSML 3150 Chapter 11 Quiz

Which of the following is NOT part of the "actual product" level of the product offer? A. product warranty B. features C. design D. quality E. brand name

A. product warranty

Brands can be owned by A. manufacturers only. B. any firm in the supply chain. C. retailers only. D. wholesalers and retailers only. E. only private label generic retailers.

B. any firm in the supply chain.

Jake developed a toothpaste using only natural ingredients, and he has been quite successful selling the product in health food stores and some grocery stores. He has recently developed a toothbrush using bamboo and natural components. Jake is considering a __________, giving the toothbrush the same brand name as the toothpaste in order to have greater brand awareness. A. co-brand B. brand extension C. premium brand D. joint brand E. natural brand

B. brand extension

The complete set of all products offered by a firm is called its A. product line. B. product categories. C. product mix. D. product breadth. E. product line depth.

C. Product mix.

Another name for a manufacturer's brand is a(n) __________ brand. A. systematic B. extended C. national D. premium E. private-label

C. national

Another name for brand repositioning is A. strategic brand alteration. B. change management. C. rebranding. D. perception tracking. E. brand scaling.

C. rebranding.

One of the advantages of selling specialty goods and services is that when consumers want them, they will A. question the price. B. consider many alternatives. C. search for them. D. perceive greater performance risk. E. expect them to be offered conveniently.

C. search for them.

__________ is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service. A. Brand positioning B. Brand licensing C. Brand association D. Brand equity E. Brand solvency

D. Brand equity

__________ occurs when the brand extension adversely affects consumer perceptions about the attributes of the core brand. A. Corporate branding B. Brand extraction C. Brand collusion D. Brand personality destruction E. Brand dilution

E. Brand dilution

When manufacturers try to understand what customers are looking for, they are thinking about the _______ component of the product offer. A. core customer value B. associated services C. augmented products D. product support E. quality level

A. core customer value

Consumers might not realize that Old Spice health and wellness products and Iams pet nutrition products are made by the same company—Procter & Gamble. Old Spice and Iams are known as A. individual brands. B. family brands. C. corporate brands. D. traditional brands. E. registered brands.

A. individual brands.

Which of the following best describes when Johnson & Johnson introduces a travel-sized package for its existing baby oil product? A. line extension B. brand extension C. brand dilution D. rebranding E. co-branding

A. line extension

Marketers with luxury brands use brand extension cautiously in order to avoid A. brand licensing fees. B. exclusive co-branding arrangements. C. diluting the core brand. D. private label branding disputes. E. product line extension limitations.

C. diluting the core brand.

Nora is deciding whether to purchase brand name sneakers or a store brand. She has purchased other shoes with the same brand name in the past but was only marginally satisfied. In this situation, Nora is likely to purchase the store brand sneakers because they offer A. more brand awareness. B. higher degrees of brand loyalty. C. greater perceived value. D. a better brand image. E. more product line depth.

C. greater perceived value.

One of the categories of products for which brand extension is especially logical is A. generic goods. B. generic services. C. commodities. D. complementary goods. E. licensed brands.

D. complementary goods.

A firm's product mix breadth is its A. number of items per product line. B. depth divided by profitability. C. number of categories that are mutually exclusive. D. number of product lines. E. brand equity multiplied by its capacity utilization.

D. number of product lines.

A product is __________ that can be offered through a voluntary marketing exchange. A. the combination of a firm's marketing mix B. the brand associations C. the category depth D. a tangible item E. anything of value to consumers

E. anything of value to consumers

A __________ is a name, symbol, design, or term that identifies a seller's good or service as distinct from those of other sellers. A. SKU B. product line C. supply chain D. commodity E. brand

E. brand

The potential benefits of brand extension do NOT include A. allowing the perception of a brand with a quality image to be carried over to the new product. B. lowering marketing costs. C. boosting sales of the core brand. D. spending less on creating brand awareness and associations. E. diluting brand equity.

E. diluting brand equity.

A __________ is one where there is a contractual arrangement between firms allowing one to use its brand name for a fee. A. franchise brand B. joint venture brand C. shared brand D. common use brand E. licensed brand

E. licensed brand

Marketers need to think about the product offer on three levels. Which of the following levels includes associated services such as warranties, financing, support and after-sale service? A. augmented product B. core customer value C. actual product D. modified product E. core product

A. augmented product

Marco tried a new fruit-flavored beverage and thought it was awful. He was especially disappointed because he had liked the dried fruit snacks marketed under the same brand name. Now he wasn't sure he even wanted to buy the snacks he had liked before. This highlights a problem in branding known as A. brand dilution. B. co-mingled brands. C. undifferentiated brands. D. approximated brands. E. unlicensed brands.

A. brand dilution.

One key feature of the value of a brand is that A. it often protects the firm from competition and price competition. B. it no longer needs to be supported by advertising and promotion. C. if it becomes a generic name, the brand is worth even more. D. it cannot be successfully imitated by a retailer's own brand. E. competitors will typically abandon a sector altogether rather than compete.

A. it often protects the firm from competition and price competition.

A __________ is a group of associated items that consumers tend to use together or think of as part of a group of similar products. A. product line B. product mix C. product mix breadth D. line extension E. brand extension

A. product line

When a salesperson approaches you to sell a cemetery plot, this is considered what type of product? A. unsought product B. shopping product C. convenience product D. line extension E. secondary product

A. unsought product

Marketers selling milk, bread, and other consumer staples, know most customers do not spend much time searching or comparing alternatives. For most consumers, these are _____________ goods. A. specialty B. shopping C. convenience D. ritual E. impulse

C. convenience

For many years, General Electric had a corporate strategy of being among the top three firms in any market in which it operated; if it could not achieve a top-three position, it would exit the market. This strategy often resulted in the company __________ when certain product lines failed to meet this expectation. A. increasing product line depth B. decreasing product line depth C. decreasing product mix breadth D. increasing product mix breadth E. introducing brand extensions

C. decreasing product mix breadth

Brand extension is a popular marketing strategy because A. it separates out the cost of brand extension from brand intention. B. it allows the firm to discontinue complementary products. C. the firm can spend less on creating brand awareness and associations. D. it avoids the problem of brand dilution. E. it guarantees success for a new product.

C. the firm can spend less on creating brand awareness and associations.

Which of the following is NOT one of the four criteria used for determining how "good" a brand is? A. brand awareness B. brand loyalty C. brand associations D. brand conceptualization E. brand perceived value

D. brand conceptualization

Efforts to change a brand's focus to target new markets or change the image of a brand are called A. co-branding. B. brand extraction. C. brand collusion. D. brand repositioning. E. brand dilution.

D. brand repositioning.

Brand dilution occurs when A. customers see the "fit" between products sharing the same brand name. B. there are too few products and product categories. C. new brands compete with existing brands. D. customer perceptions about the core brand are adversely affected. E. brand names seem too old-fashioned or familiar.

D. customer perceptions about the core brand are adversely affected.

Brands that are owned by ___________ are called private-label brands. A. manufacturers B. wholesalers C. supply chain specialists D. retailers E. manufacturer's reps

D. retailers

Private-label brands like Gap and Victoria's Secret have increased in importance along with the increased power of ___________ in the supply chain. A. manufacturers B. wholesalers C. supply chain specialists D. retailers E. manufacturer's reps

D. retailers

Frequent buyer/user award programs are used to A. increase price sensitivity. B. decrease co-branding costs. C. lower licensing fees. D. expand product line depth. E. maintain contact with loyal customers.

E. maintain contact with loyal customers.

Private-label brands are developed and managed by A. manufacturers. B. wholesalers. C. supply chain specialists. D. manufacturer's reps. E. retailers.

E. retailers.

For marketers, one of the benefits of having achieved brand loyalty is A. recognition through industry awards. B. lower marketing costs associated with reaching loyal customers. C. increased price sensitivity among loyal customers. D. greater concern about competitors' actions. E. few worries about copyright infringement.

B. lower marketing costs associated with reaching loyal customers.

Zappos, an online shoe company, knows shoes are typically a(n) __________ good, with consumers often spending time comparing alternatives. They overcome that aspect of consumers' search process by offering a free, no questions asked return policy. A. specialty B. shopping C. convenience D. ritual E. impulse

B. shopping

For a major university, undergraduate studies, graduate studies, and professional programs would be __________ within the university's product mix. A. brand associations B. family brands C. co-brands D. product lines E. private label brands

D. product lines