Chapter 11 - Product, Branding & Packaging Decisions

Brand repositioning is also known as: brand dilution rebranding co-branding brand licensing

rebranding

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

repeated

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

Acme chips and Acme dips

Select all that apply A strong brand protects firms from which of the following? (Select all that apply.) An existing competitor lowering prices An overall drop in consumer demand Changes in industry trends New products offering similar features or benefits

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

________ packaging is better for the environment than traditional packaging.

Sustainable

Brand awareness is most likely to influence purchasing decisions for which type of product? Goods never purchased before by the consumer Goods purchased frequently habitually Goods purchased infrequently Goods that the consumer spends a lot of time researching

Goods purchased frequently habitually

Select all that apply Branding enables a firm to do which of the following? (Choose all that apply.) Make consumers aware of available products Reintroduce old products at a higher cost Differentiate its product offerings Eliminate advertising spending

Make consumers aware of available products Differentiate its product offerings

Which of the following help to increase a brand's equity? (Select all that apply.) Competition level Lower prices from competitors Perceived value Customer loyalty Brand awareness

Perceived value Customer loyalty Brand awareness

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

The basic benefits consumers are seeking

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

True

Select all that apply Examples of communication media that firms use to create brand awareness include which of the following? advertising low prices publicity licensed brands

advertising publicity

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 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.. equity value awareness loyalty

awareness

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

brand association

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 co-branding brand repositioning brand extension

brand licensing

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 repositioning brand licensing co-branding brand extension

brand licensing

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 be competitive in commodity markets be able to develop the brand personality over time to overwhelm consumers perception

build brand awareness

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

differentiate

Brands are assets that a firm can build and harness over time to increase its ______. equity consumer trust brand liabilities marketing expenditures

equity

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 ______. primary package label marketing message built in package

label

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

line extension

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

perceived value

Select all that apply Which statements are true of ALL products? something that a customer values bought through an online distributor delivered directly to the consumer offered through a marketing exchange

something that a customer values offered through a marketing exchange

Select all that apply What are the two basic types of brand ownership strategies? store brands manufacturer brands price brands product brands

store brands manufacturer brands

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

value

Select all that apply What does a brand need in order to be somewhat protected from competition from other firms and price competition? 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? Convenience products Specialty products Shopping products Associated products

Associated products

Which of the following is an example of product line extension? Coke, in addition to its existing Diet Coke flavors, introduces chocolate-flavored Diet Coke. Honda, in addition to its vehicles, begins to sell gasoline. Ritz, in addition to its crackers, begins to sell cheeses. 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? Loyalty products Business products Ritual products Consumer products

Consumer products

What must occur for the perceived value of a cheaper product to be high? The cheaper product must have the same or higher brand awareness than premium products. Consumers must believe the quality of the cheaper product is about the same as that of a premium product. The cheaper product must be endorsed by a celebrity or other notable figure. The price of the cheaper product must be below half that of a premium product.

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? . Manufacturers Customers Marketers Retailers Suppliers

Customers

_______ packaging is better for the environment than traditional packaging.

Sustainable

Which of the following refers to the basic problem-solving benefits that consumers seek in a product? Associated services The core customer value The augmented product The actual product

The core customer value

Ideas for sustainable packaging include which of the following? (Select all that apply.) Using recycled materials in packaging Using 3D printing Returnable packaging Adding more layers of plastic

Using recycled materials in packaging Using 3D printing Returnable packaging

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 personality brand loyalty brand associations brand equity

brand associations

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 _____ ______

brand equity

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

brand equity

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 extension brand licensing brand repositioning co-branding

brand repositioning

A firm's product mix _____ represents the number of product lines offered by the firm. brand category depth breadth

breadth

Consumer packaged goods companies sell products across many different product lines. These companies have significant ______ in their product mixes. brand dilution depth breadth confusion

breadth

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 ______. brand dilution generic branding brand repositioning co-branding

co-branding

The practice of marketing two or more brands together on the same package or promotion is known as: brand extension brand licensing brand dilution co-branding

co-branding

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

extension

Kellogg's sells the majority of products under its Kellogg's name brand all of it product lines. This is known as a(n)______ brand. individual corporate family global

family

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. exclusive co-brand premium brand individual brand family brand

family brand

Product lines are a part of a product ______. category mix brand decision

mix

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

mix

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

mix

The product ______ is the complete breadth and depth of all products offered by a firm. width brand line category mix

mix

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

product

A product mix typically consists of ______, or groups of associated items. product assortments product lines product depth product breadths

product lines

For most products, the label is used for ______. promotion and licensing branding and packaging promotion and branding packaging and manufacturing information

promotion and branding