Marketing Exam #3

Which of the following is NOT one of the four criteria used for determining how good a brand is or how much equity it has?

Brand conceptualization

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 create greater brand awareness.

Brand extension

Crayon Balls was an idea developed by Ron, the CEO at Elmer's. Tom wasn't sure if this was a great idea so he conducted ____________________?

Concept testing

Which stage of the product life cycle is characterized by technology shifts, negative sales growth, declining profits, potential product elimination along with the need to reduce costs, maintenance, and reengineering?

Decline

During a concept test with consumers, the consumer needs a positioning statement and then they answer questions about the product to help identify things such as purchase intent?

False

Brand portfolio analysis involves a four-step process. When Procter & Gamble (P&G) sold two of its European toothpaste brands to Unilever in 2019, it was doing which of the following?

Liquidating brands

Five Hour Energy is a brand name that describes the product. This BEST represents which of the following six criteria for choosing brand elements?

Meaningful

Perceptions of Levi's include ruggedness, CNN competence, Hershey sincerity or Mountain Dew rebellious are examples of the brands?

Personality

Which of the following best describes when Johnson & Johnson introduces a smaller travel- sized package of baby oil for its existing baby oil product?

Product line extension

If a brand manager believes that she/he needs to dramatically increase the benefits or lower the price of an offering to address a competitive threat, which is the best defense strategy?

Reposition existing offerings

All of the following are characteristics of strong brands except?

They can be copied by competitors

Which of the following is the best example of a family brand architecture?

Tostitos Multigrain Scoops and Tostitos Chunky Salsa & Tostitos Queso Dip

A good better best strategy is a way for the brand to compete up and down the quality and price spectrum. An example of this is Marriott Hotels. Fairfield Inn (good), Marriott Courtyard (better), Marriott's Ritz Carlton (best).

True

True or False? Brands are valuable to consumers because they give buyers confidence in their purchase decision, allow for cleaner interpretation and easier processing of information, and ultimately provide higher satisfaction in use?

True

Pepsi acquired the Naked juice brand in 2007 as a shift towards ownership of food and beverage brands with a health and wellness aspect, which provided a distinct contrast to demand for Pepsi products. What consideration associated with product mix breadth does this represent?

Undertaking a business whose profit stream will probably correlate negatively with the profit streams of existing businesses , thereby reducing the overall risk of enterprise.

Dixie Company manufactures & sells mid-priced, disposable tableware, including paper plates, paper bowls, and paper to-go boxes. Dixie has decided to add a new series of premium-priced , designer tableware offered in seasonal colors & patterns. Dixie is extending its product line using a ____________?

Vertical, upscale line extension

New Balance is considering adding a new item to its Fresh Foam line of running shoes to increase its product line depth. All options would be examples of adding a new item to increase depth EXCEPT?

adding a new Fresh Foam sock product line to complement the shoe line

Brand symbols such as the Nike swoosh, McDonald's golden arches, & Disney's mouse ears allow consumers to identify the maker of the product or service easily. When consumers recognize these symbols, they may think about attributes, experiences, ideas, or people. Each idea connected to the brand in the consumers mind is known as a ___________?

brand associations

According to the branding expert David Aaker, _____________ refers to dedication to purchase the brand repeatedly over time.

brand loyalty

After Dave developed the perfect recipe for the Baconator and the team completed Product Development, the next step in the stage gate process was to

enter into a test market

Papa Murphy's has a line of big "Stuffed Pizzas". They recently introduced a Bacon lovers Stuffed Pizza to attract people who really love bacon. This is an example of?

expansion of the existing product line

For Hershey Chocolate Company, chocolate candies, baking products and drinks and drink mixes would be __________ within the university's product mix.

product lines

Proctor & Gamble acquired the Gillette Company and its Oral-B toothbrush line to position P&G oral care as the market leader and the only major oral care company with a breadth of products across every category category: toothpaste , tooth brushes , whitening rinse, denture care, and floss. What consideration associated associated with product mix breadth does this represent?

tapping into complementary-in-use products and thus enabling the firm to be a "total solution" supplier.

After seeing increased competition, and in an effort to increase sales and profitability, Wonder Bread wants to extend its product mix breadth beyond just white bread. The firm should consider the reasons companies add breadth including all of the following EXCEPT:

tapping into scarce resources that could benefit the overall product mix

New products are often needed for sustainable growth yet may also carry risk. The risk associated with product features, product design, & product reliability is known as ___________ risk; the risk associated with customers, collaborators, company, competitors, and context is known as _________ risk?

technological; market