Chapter 11 MKT 230

_____ products/services are products, such as sodas and candy bars, for which consumers usually employ limited decision making.

Convenience

Branding enables a firm to do which of the following? (Choose all that apply.)

Differentiate its product offerings Fairly easily make consumers aware of available products

Examples of CRM programs include:

Invitations to the company's special events Advance notice of sale items Points that can be turned in for discounts

Risks associated with re positioning a product include:

Losing many of the loyal customers the brand has High costs to change the packaging

Firms should make sure the fit between the core brand and the brand extension _____

Makes sense to customers Is credible

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

extension

Because a brand name is already well established, a firm can spend _____ to develop consumer brand awareness when introducing a brand extension.

fewer resources

Product lines are a part of a product _____

mix.

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

mix.

Which of the following describes a product?

offered through a marketing exchange something that a customer values

The element of a product that is used both to protect and to market the item is the _____

packaging.

For most products, the label is used for _____

promotion and branding,

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

secondary package.

Examples of communication media that firms use to create brand awareness include which of the following?

Publicity Advertising

Firms decrease depth to do which of the following?

Refocus marketing efforts on profitable items Eliminate unprofitable items

Product packaging offers a variety of benefits to which of the following?

Retailers Consumers

Firms reward loyal customers through _____ programs.

customer relationship management

Risks in co-banding include:

customers for the two brands being too different conflicts of interest between the co-brands

Kellogg's sells a variety of products under its own corporate name to brand all of it product lines. This is known as _____ brands.

family

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 use of the same brand name within the same product line is called a(n) _____

line extension.

A person who buys the same brand's product or service repeatedly over other options demonstrates what is known as brand _____

loyalty.

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

profitability

Which of the following are components of the actual product?

Brand name Features/design

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

Branding includes which of the following?

Slogans Logos Distinctive packaging

Brands are typically legally protected through _____

trademarks and copyrights.

ideas for sustainable packaging include:

using 3D printing returnable packaging flexible packaging

_____ 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.

Shopping

_____ products/services are those such as an Apple iPod, 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.

Specialty

______ ______ is product packaging that is better for the environment than traditional packaging.

Sustainable; packaging

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

The basic benefits consumers are seeking

The goal behind spending millions on promotion, advertising, and other marketing efforts is _____

To maintain profitability To build consumer loyalty

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

True

The risks associated with brand licensing include which of the following? (Check all that apply.)

Undervaluing the brand in a licensing agreement Diluting brand equity through overexposure

_____ products/services are those that people don't think about buying or don't know about.

Unsought

Which of the following are components of the augmented product?

Warranties Product support

Products are complex, with multiple components. An _____ product refers to the nonphysical aspects of the product, such as financing and support and other associated services.

augmented

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

Marketers can asses 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

One consumer research exercise asks consumers to say the first things that occur to them when they heat 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

When a brand extension adversely affects consumer perceptions about the core brand, it is known as _____

brand dilution

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

brand equity

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

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

Brand licensing _____

can be an effective way to attract visibility for a brand Is a way to generate additional revenue

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

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

communication

What are products that consumers use for their own use called?

consumer products

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

primary; packaging

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

product

Manufacturer brands such as Kraft and Nike are owned and managed by whom?

the manufacturer

The packaging that the consumer uses is known as _____

the primary package.