Mark 231 Ch. 11/12 quiz

The three major ways to modify a product include Question options: A) aesthetic, quality, and functional changes. B) extensions, generations, and upgrades. C) color, size, and quantity modifications. D) styling, product features, and product design. E) quality, quantity, and design.

A) aesthetic, quality, and functional changes.

Quality modifications are changes that relate to a product's Question options: A) dependability and durability. B) effectiveness and versatility. C) price and availability. D) reliability and value. E) value and durability.

A) dependability and durability.

Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products. Question options: A) shopping B) specialty C) service D) convenience E) unsought

A) shopping

When Starbucks introduced their instant coffee brand, Via, the company only sold it in packages of three single-cup units. Starbucks' primary objective for selling Via in three-unit packages rather than single-unit packages was most likely Question options: A) to encourage the consumer to try the product several times. B) to encourage a higher consumption of all Starbucks products. C) to sell more because of infrequent coffee purchases. D) to reduce costs in the distribution and handling of the Via products. E) to engage in environmentally responsible behavior.

A) to encourage the consumer to try the product several times.

Grand Resorts Hawaii has just celebrated its first profit since opening two years ago. Grand Resorts Hawaii is most likely in the ____ stage of the product life cycle. Question options: A) maturity B) growth C) introduction D) market testing E) stability

B) growth

If the manufacturer of Cool Whip were to introduce a chocolate-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example of Question options: A) a brand extension. B) line extension. C) functional modification. D) quality modification. E) a new-to-the-world product.

B) line extension.

A product line is defined as Question options: A) products that can be designated as a unique offering among the organization's products. B) products that an organization makes available to consumers. C) a group of closely related products that are considered a unit because of marketing, technical, or end-use considerations. D) a specific group of products that are offered to the market. E) products that are sold by the same firm or a division of a firm.

C) a group of closely related products that are considered a unit because of marketing, technical, or end-use considerations.

"Is the demand strong enough?" is a question that marketers ask during the ____ phase of new-product development. Question options: A) screening B) concept testing C) business analysis D) product development E) test marketing

C) business analysis

Procter & Gamble makes at least eight different laundry detergents. This is most relevant to the issue of Question options: A) width of product mix. B) product mix consistency. C) depth of product mix. D) a market mix. E) a promotion mix.

C) depth of product mix.

A genuinely new product, like the iPhone once was, offers Question options: A) lower prices than existing products. B) at least two new product features. C) innovative benefits to consumers. D) better value than existing products. E) at least two new product features at a lower price.

C) innovative benefits to consumers.

The three levels of brand loyalty from strongest to weakest are Question options: A) preference, insistence, recognition. B) insistence, recognition, preference. C) insistence, preference, recognition. D) recognition, preference, insistence. E) insistence, preference, indifference.

C) insistence, preference, recognition.

What is the primary distinction between a line extension and a product modification? Question options: A) A product modification results in a completely new product while a line extension is simply changing an old product. B) In both cases an existing product is altered, but the alteration is more dramatic with a product modification than it is with a line extension. C) Line extensions are designed to better meet the needs of the existing market segment while product modifications target entirely new segments of the market. D) With product modifications, the original product is replaced in the product line while both the old and the new products remain in the case of line extension. E) Line extensions are strictly aesthetic changes to an existing product whereas product modifications consist of changes in quality and functionality.

D) With product modifications, the original product is replaced in the product line while both the old and the new products remain in the case of line extension.

McDonald's golden arches are a classic example of a Question options: A) brand. B) brand symbol. C) brand name. D) brand mark. E) trademark.

D) brand mark.

The value, measured in either marketing or financial terms, associated with a brand's strength in a market is referred to as brand Question options: A) loyalty. B) value. C) share. D) equity. E) association.

D) equity.

When a product tries to capitalize on the brand equity of two separate brands, marketers are using Question options: A) licensing. B) dual-branding. C) partnerships. D) brand extension. E) co-branding.

E) co-branding.

When determining how a product is conceived, planned, produced, and even its physical appearance and its specific characteristics, one is really talking about the product's Question options: A) positioning. B) level and consistency of quality. C) ability to meet customer service needs. D) design, styling, and level of quality. E) design, styling, and features.

E) design, styling, and features.

Compared to creating and developing a brand from scratch, a firm sometimes buys a brand from another company at a premium price because outright purchase is Question options: A) more challenging strategically. B) less time consuming. C) less risky. D) less expensive. E) less expensive and less risky.

E) less expensive and less risky.

Product deletion can best be described as the process of deleting a product from the product mix when it Question options: A) is perceived as a failure by top management. B) is reviewed negatively by a systematic review board. C) increases production costs and decreases profits. D) no longer responds to promotional efforts. E) no longer satisfies a sufficient number of customers.

E) no longer satisfies a sufficient number of customers.

A group of managers has been assigned the task of developing a new product. They are now in the process of assessing several ideas to determine whether they are consistent with the firm's overall objectives and resources. The managers are at what stage of the new-product development process? Question options: A) Business analysis B) Product testing C) Idea generation D) Commercialization E) Screening

A) Business analysis?

Morgan is interested in upgrading to a new sofa for her apartment. Morgan looks online to see what new models her favorite sofa brand has available and can get information on the style and color; however, she can't actually sit on the sofa to determine its comfort level. Morgan is able to evaluate the ____ modifications to the sofa, but not the ____ modifications. Question options: A) aesthetic; quality B) quality; aesthetic C) aesthetic; functional D) functional; quality E) functional; aesthetic

C) aesthetic; functional