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