Ch. 11 M370

The complete set of all products and product lines offered by a firm is called its product assortment, or product _______.

mix

One of Taco Bell's most successful new products has been its "Doritos Locos Tacos," tacos with shells in the flavors of Doritos taco chip varieties. This is an example of ______.

co-branding

Brands are assets that a firm can build and harness over time to increase its ______.

equity

The value of a brand can be calculated and compared to other brands in the form of brand ______.

equity

The use of an existing brand name in a different product line is called brand ______.

extension

Firms are willing to spend lots of money, such as on very expensive Super Bowl ads, to market a brand in order to ______.

build brand awareness

A brand, such as T-Mobile, can build awareness through ______ exposure to the brand's logo, symbols, and slogans.

repeated

The complete set of all products and product lines offered by a firm is called its product assortment, or product ________.

mix or depth

For most products, the label is used for ______.

promotion and branding

Which traits are true of ALL products? (Choose every correct answer.) Multiple select question. Something that a customer values Offered through a marketing exchange Delivered directly to the consumer Bought through an online distributor

Something that a customer values Offered through a marketing exchange

A contractual arrangement between firms where one firm allows another to use its brand name, logo, symbols, and/or characters in exchange for a negotiated fee is called ______.

brand licensing

______ packaging is better for the environment than traditional packaging.

sustainable

Which of the following is an example of a brand extension? Multiple choice question. Acme sleds and Timberland boots Acme barbecue potato chips and Acme salt and vinegar potato chips Acme cars and generic pencils Acme chips and Acme dips

Acme chips and Acme dips

Examples of communication media that firms use to create brand awareness include which of the following? (Choose every correct answer.) Multiple select question. Low prices Advertising Publicity Licensed brands

Advertising Publicity

What does a brand need in order to be somewhat protected from competition from other firms and price competition? (Choose every correct answer.) Multiple select question. A celebrity endorsement An established track record in the market A loyal customer base A hard plastic package

An established track record in the market A loyal customer base

What does a brand need in order to be somewhat protected from competition from other firms and price competition? (Choose every correct answer.) Multiple select question. An established track record in the market A celebrity endorsement A hard plastic package A loyal customer base

An established track record in the market A loyal customer base

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

Associated products

Which of the following is an example of product line extension? Multiple choice question. Ritz, in addition to its crackers, begins to sell cheeses. Coke, in addition to its existing Diet Coke flavors, introduces chocolate-flavored Diet Coke. Honda, in addition to its vehicles, begins to sell gasoline. Kellogg's, in addition to its existing cereals, begins to sell branded bowls and spoons.

Coke, in addition to its existing Diet Coke flavors, introduces chocolate-flavored Diet Coke.

What are products that household buyers use for their own use called?

Consumer products

What must occur for the perceived value of a cheaper product to be high?

Consumers must believe the quality of the cheaper product is about the same as that of a premium product.

Typically, who determines the product's or service's value in relationship to that of its close competitors?

Customers

Branding enables a firm to do which of the following? (Choose every correct answer.) Multiple select question. Reintroduce old products at a higher cost Eliminate advertising spending Differentiate its product offerings Make consumers aware of available products

Differentiate its product offerings Make consumers aware of available products

Brand awareness is MOST likely to influence purchasing decisions for which type of product?

Goods purchased frequently or habitually

What are the two basic types of brand ownership strategies? Multiple select question. Manufacturer brands Price brands Product brands Retailer/store brands

Manufacturer brands Retailer/store brands

A strong brand protects firms from which of the following? (Choose every correct answer.) Multiple select question. New products offering similar features or benefits Changes in industry trends An overall drop in consumer demand An existing competitor lowering prices

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

Which of the following factors help to increase a brand's equity? Multiple select question. Perceived value Brand awareness Competition level Lower prices from competitors Customer loyalty

Perceived value Brand awareness Customer loyalty

Which of the following describes the core customer value of a product? Attributes such as design/features, quality level, and packaging The price range Product warranties and financing The basic benefits consumers are seeking

The basic benefits consumers are seeking

Which of the following refers to the basic problem-solving benefits that consumers seek in a product?

The core customer value

Which of the following are included in the ideas for sustainable packaging? (Check all that apply.) Multiple select question. Using 3D printing Adding more layers of plastic Adding recycled materials to packaging Using returnable packaging

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

The mental link customers make between a brand and its key product attributes is known as brand ______.

association

One consumer research exercise asks consumers to say the first things that occur to them when they hear a brand name. For example, for the brand "Coca-Cola," someone might respond, "Red and white cans, sweet, carbonated." These are examples of brand ______.

associations

Marketers can assess the level of brand ______ by measuring the extent to which consumers in a market are familiar with a brand, know what it stands for, and have an opinion about it.

awareness

If a brand has a high degree of brand ______, it means that most consumers are familiar with the brand and what it stands for even if they do not use the brand.

awareness or recognition

The set of assets and liabilities linked to a brand that add to or subtract from the value provided by a product or service is ______ equity.

brand

When K-Mart paid Martha Stewart (famous for her business related to lifestyle and the home) a fee in return for permission to introduce a line of towels and other housewares bearing Stewart's name, it was an example of ______.

brand licensing

The strategy in which marketers change a brand's focus to target new markets, or realign the brand with changing market preferences, is known as ______.

brand repositioning

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

The practice of marketing two or more brands together on the same package or promotion is known as ______.

co-branding

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

mix

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

differentiate

Apple sells the majority of products under its Apple name brand. This is known as a(n) ______ brand.

family

Kellogg's sells a variety of products under its Kellogg's name brand. It then identifies groups of products with a secondary name such as Raisin Bran or Froot Loops, each in several sizes and versions. Froot Loops is known as a(n) ______ brand.

family

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

The use of the same brand name within the same product line is called a(n) ______.

line extension

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

lines

Product lines are a part of a product ______.

mix

From the customer's perspective, the relationship between a product's or service's benefits and costs is called ______.

perceived value

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

product, good, or service

True or False: Brands are sold either under a common/family name or as an individual brand.

true

Good marketing increases perceived ______ by raising customers' quality expectations relative to price.

value

Good marketing increases perceived _______ by raising customers' quality expectations relative to price.

value