MKTG 1110 - CHP #10

Which of the following are characteristics of the growth stage of a product life cycle? (Check all that apply.) Multiple select question. - An increase in the number of competitors - An increase in the number of locations for distribution - An increase in prices, especially including taxes - An increase in the total industry sales

- An increase in the number of competitors - An increase in the number of locations for distribution - An increase in the total industry sales

Which of the following are reasons that service marketers rely heavily on branding? Multiple select question. - Branding improves production capacity management. - Branding helps convey an image of quality. - Branding is a means of differentiation. - Strong branding makes introduction of new services easier.

- Branding helps convey an image of quality. - Branding is a means of differentiation. - Strong branding makes introduction of new services easier.

Which of the following are strategies to modify the market? Multiple select question. - Create new use situations - Find new customers - Increase a product's use among existing customers - Create a new product

- Create new use situations - Find new customers - Increase a product's use among existing customers

________ can create customer value by offering communication, functional, and perceptual benefits.

Packaging

__________ and labeling provide opportunities to create communication, functional, and perceptual benefits to customers. (Enter one word in the blank.)

Packaging

__________ refers to any container in which a product is offered for sale and on which label information is conveyed. (Enter one word in the blank.)

Packaging

Which of the following statements concerning the pricing of services is most accurate?

Service pricing can be used in capacity management, optimizing consumer demand for services.

Tylenol products have extensive instructions for users to prevent accidental overdose and associated liver function complications. This is an example of which type of benefit that packaging can provide?

communication benefits

Product repositioning means changing the product position in the

consumer's mind.

During the decline stage of the product life cycle, firms will typically have lower sales as well as

fewer competitors

Typically speaking, during the introduction stage sales are ______ and profit is ______.

growing slowly; minimal

In the __________ stage of the product life cycle, the product gains acceptance, demand and sales increase, and there are more competitors.

growth

Management of the physical environment for services is sometimes known as ________ management.

impression

Easy Off, Glass Plus, Cling Free are good brand name because they

suggest the product benefits.

Which of the following products is the best example of a product that might experience an introduction, a decline, and then a resurgent reintroduction as part of its normal product life cycle?

tattoos

Today, ________ is being used to deliver services beyond the provider's physical locations.

technology

Which two of the following criteria are often used in naming successful brands? Multiple select question. - Controversial names - Emotional names - Cryptic names - Complex names - Names without legal restrictions

- Emotional names - Names without legal restrictions

Multiproduct branding is also called which two of the following? Multiple select question. - Family branding - Brand extension - Private labels - Corporate branding

- Family branding - Corporate branding

Key characteristics of the maturity stage are which two of the following? Multiple select question. - Intense competition on price occurs - Many new competitors enter the market - Revenues increase rapidly - Marketing costs increase to gain new buyers

- Intense competition on price occurs - Marketing costs increase to gain new buyers

Modifying the product

Altering one or more of a product's characteristics to increase its value to customers and increase sales.

Perceptual ex.

Graphics to convey a brand's positioning

Finding new customers

LEGO is appealing to consumers outside its traditional market (boys) with a new product line for young girls called LEGO Friends.

________ increases the possible distribution of many services including banking, travel services, and entertainment.

Technology

Increasing a product's use

The Florida Orange Growers Association advocates drinking orange juice throughout the day rather than for breakfast only.

Modifying the market

Trying to find new customers, increase a product's use among existing customers, or crease new use situations.

A product manager is sometime called a(n) _______ manager.

brand

A product may enter the ________ stage of the product life cycle due not to any error in strategy but because of environmental changes.

decline

During the ________ stage of the product life cycle, a company often minimizes promotion.

decline

Much more than when marketing products, service providers such as seaside hotels and restaurants have a dilemma of matching

demand and capacity.

Branding provides a way for a firm to

distinguish its products from competitors.

The physical environment is important in the delivery of services because

it provides physical evidence, and thus helps convey an image to the consumer.

With ________ branding, a company uses one name for all its products in a product class.

multiproduct

The seven Ps of services refer to an expanded marketing mix for services that includes the four Ps (product, price, place, and promotion) as well as

people, physical environment, and process.

Packaging refers to which two of the following? Multiple select question. - It has a label on which information is conveyed. - It is any container in which a product is offered for sale. - It is defined as the functional benefits of the container. - It is one of the 4Ps of the marketing mix.

- It has a label on which information is conveyed. - It is any container in which a product is offered for sale.

Which two of the following are ways that a product life cycle curve can vary? Multiple select question. - Variable on the x-axis - Variable on the y-axis - Its characteristic shape - Its overall length

- Its characteristic shape - Its overall length

Which of the following are the primary ways to manage a product through its life cycle? Multiple select question. - Modifying the market - Modifying the product - Developing a private branding strategy - Repositioning the product

- Modifying the market - Modifying the product - Repositioning the product

In addition to the traditional four Ps, which of the following are factors that also require effective management within service organizations? Multiple select question. - People - Process - Planning - Physical environment

- People - Process - Physical environment

Branding can include which of the following? Multiple select question. - Safety labeling - Unique symbols, like a logo - A product name - Price - Packaging design

- Unique symbols, like a logo - A product name - Packaging design

The benefits packaging and labeling provides a product include which of the following? Multiple select question. - communication - segmentation - functional - perceptual

- communication - functional - perceptual

Why is price an important indicator of quality that consumers use when purchasing services?

Because services are intangible, evaluating quality directly is difficult.

Repositioning the product

Changing the place a product occupies in a consumer's mind relative to competitive products, sometimes by changing marketing mix elements to bolster sales.

Communication ex.

Nutritional and dietary information

Creating a new use situation

Originally intended as a single pant for every activity, Dockers now promotes different looks for different occasions: work, weekend, dress, and golf. Originally intended as a single pant for every activity, Dockers now promotes different looks for different occasions: work, weekend, dress, and golf.

A trip to a Disney theme park reveals a careful integration of all service activities to connect with customers at each opportunity, which is an example of which P in services?

People

The online retailer Zappos.com requires employees to complete a four-week customer loyalty program in delivering its "WOW" service, which is an example of which P in services?

People

Functional ex.

Refrigerator-compatible storage

Product modification consists of altering the product's quality, performance, or

appearance.

Which of the following is among the six criteria most often mentioned as important in selecting a good brand name?

be memorable, distinctive, and positive

The set of human characteristics, such as physical traits associated with a brand, make up the

brand personality.

Due to the fact that services are intangible and more difficult to describe, ________ is very important because it is a means of differentiation and helps to convey an image of quality.

branding

Efforts to influence consumer demand for a service with changes in marketing mix elements is known as __________ management.

capacity

The integration of the marketing mix with efforts to influence consumer demand is known as

capacity management.

An example of a company connecting with customers in its package redesign strategy is

creating a resealable package in response to consumer habits.

Capacity management emphasizes

efforts to influence consumer demand, since services are both inseparable and perishable.

When Nestle or McDonald's modify their packaging to use more recyclable material, they are responding to

environmental concerns.

When a firm sells all its products under one ______, such as Pepperidge Farm, the individual brands benefit from the overall brand awareness associated with it.

family brand

Skimming or penetration pricing are appropriate pricing strategies during the ________ stage of a product's life cycle.

introduction

Modifying the product, modifying the market, and repositioning the product are three ways to manage a product through

its life cycle.

The product ___________ __________ curve can vary in its shape and length and by the rate at which consumers adopt products.

life cycle

Besides sometimes developing new products, the product manager also manages an existing product through its

life cycle.

The different stages a product goes through during its existence is known as the product

life cycle.

The product life cycle is

made up of the stages a product goes through in the marketplace, from introduction to decline.

Services marketing differs from that of tangible goods, and many have adopted a strategy to

manage an additional three Ps, on top of product, price, place, and promotion.

At the ________ stage of the product life cycle, most consumers who would buy the product are either repeat purchaser of the item or have tried and abandoned it, making it more challenging to acquire new customers.

maturity

The __________ stage of the product life cycle is characterized by a slowing of growth in total industry sales or product class revenue.

maturity

Nonprofit service organizations use them, but public service announcements (PSAs)

may be limited in their effectiveness because their timing and location are controlled by others.

During the introduction stage, total industry profit is

minimal throughout.

A firm can reposition its product by changing one or more of the marketing ________ elements.

mix

Product bundling is one approach that may be used in a product __________ strategy to increase a product's value to customers.

modification

Product line extensions are a form of which strategy?

multiproduct branding

Public service announcements, a form of publicity, are frequently used by ________ services because they are free.

nonprofit

Brand __________, common among successful and established brands, is a set of human characteristics that are associated with the brand name.

personality

Because services are intangible and there may be few other available cues for the customer to judge, they frequently use ________ as an important indicator of a service's quality.

price

Looking to attract more millennial tourists, Discover Los Angeles, the city's tourism office, portrays its city as a hipster utopia in a new campaign. It released a two-minute YouTube video that follows a young couple as they shop for vinyl, take pictures of their food, eat tacos from a food truck, and pose for selfies during a whirlwind day in the city. This ad campaign was an attempt to stimulate ________ demand.

primary

A __________ manager is responsible for developing and executing a marketing program for a product line, and some may also develop new products. (one word)

product or brand

Nonprofits like public schools and hospitals often use ________ in the form of public service announcements to disseminate their messages.

publicity

The growth stage of product life cycle is characterized by more competition and a ________ in sales.

rapid increase

A ________ identifies that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it.

trademark