Question 1

In terms of the diffusion of innovation, innovators account for __________ of product adopters.

Accepted Answer

A)  2.5%
B)  13.5%
C)  16%
D)  34%
E)  50%F) A) and D)
G) C) and D)

Question 2

The __________ stage of the product life cycle is characterized by the slowing of total industry sales or product class revenue, causing marginal competitors to begin leaving the market.

Accepted Answer

A)  decline
B)  maturity
C)  introduction
D)  growth
E)  harvestF) B) and D)
G) C) and D)

Question 3

When Coca-Cola promoted Coke as a morning beverage for those consumers who don't drink coffee, it used a __________ strategy.

Accepted Answer

A)  product modification
B)  brand modification
C)  market-product extension
D)  diversification
E)  market modificationF) A) and B)
G) B) and E)

Question 4

One of the primary benefits of branding for consumers is that branding __________.

Accepted Answer

A)  identifies products of highest quality
B)  guarantees lowest prices
C)  makes decision making easier for consumers
D)  indicates that products have more features
E)  makes advertising unnecessaryF) C) and D)
G) B) and E)

Question 5

A product life cycle that results from products that are easily imitated by competitors, whose benefits are readily understood by consumers, and for which the appropriate marketing strategy is to broaden distribution quickly is typical for __________ products.

Accepted Answer

A)  high-learning
B)  fashion
C)  fad
D)  low-learning
E)  generalizedF) B) and C)
G) B) and D)

Question 6

Trading up refers to __________.

Accepted Answer

A)  adding product features but reducing the price
B)  changing the distribution channel members to higher-service-quality retailers
C)  adding value to the product (or line)  through additional features or higher-quality materials
D)  reallocating marketing resources from a performing-poorly target market to one that demonstrates greater potential for future growth
E)  offering consumers a discount when they purchase a more expensive version of the productF) A) and D)
G) D) and E)

Question 7

New Balance, Inc. successfully repositioned its athletic shoes to focus on fit, durability, and comfort rather than on going head-on against Nike and Adidas on fashion and professional sports. This product repositioning strategy was designed to __________.

Accepted Answer

A)  react to a competitor's position
B)  reach a new target market segment
C)  catch a rising trend
D)  change the value offered to its customers
E)  accommodate its target audience preference for comfortable sneakersF) C) and D)
G) B) and D)

Question 8

Gatorade is most likely in which stage of its product life cycle?

Accepted Answer

A)  introduction
B)  growth
C)  maturity
D)  decline
E)  fadF) A) and B)
G) D) and E)

Question 9

Johnson & Johnson effectively __________ St. Joseph Aspirin from a product for infants to one targeted at adults who may need a low-strength aspirin designed to reduce the risk of heart attacks or strokes.

Accepted Answer

A)  reinvented
B)  resurrected
C)  reconfigured
D)  repositioned
E)  realignedF) B) and D)
G) A) and B)

Question 10

Johnson & Johnson effectively repositioned St. Joseph Aspirin as a product for infants to an adult low-strength aspirin to reduce the risk of heart attacks or strokes. This is an example of a product repositioning by __________.

Accepted Answer

A)  reacting to a competitor's position
B)  reaching a new market
C)  catching a rising trend
D)  changing the value offered
E)  product modificationF) A) and E)
G) D) and E)

Question 11

All of the following are benefits to be stressed during the promotion of services EXCEPT:

Accepted Answer

A)  low price.
B)  consistent quality.
C)  location.
D)  availability.
E)  efficiency.F) All of the above
G) D) and E)

Question 12

Pez was originally sold in Europe as an adult __________.

Accepted Answer

A)  breath mint
B)  chewing gum
C)  pain reliever
D)  stop smoking patch
E)  antacidF) B) and E)
G) B) and C)

Question 13

Tuition, charges, fares, fees, and rates are all terms

Accepted Answer

A)  given to the tangible portion of the price of a service.
B)  that are interchangeable when identifying the price of a service.
C)  given to the intangible portion of the price of a service.
D)  given to describe the price of services.
E)  used in services to imply a higher quality product than the terms "cost" or "price."F) B) and E)
G) C) and D)

Question 14

Mott's applesauce promotes itself as a low-fat alternative to cooking oil for baked goods. Mott's is __________.

Accepted Answer

A)  finding new users through a product modification strategy
B)  increasing use by existing customers through a product modification strategy
C)  modifying the product characteristics
D)  creating new use situations through a market modification strategy
E)  demarketing the productF) None of the above
G) A) and B)

Question 15

Advertising and promotion costs tend to be higher with a __________ strategy because the company must generate awareness among consumers and retailers for each new brand name without the benefit of any previous impressions.

Accepted Answer

A)  co-branding
B)  private branding
C)  multibranding
D)  multiproduct branding
E)  mixed brandingF) C) and E)
G) B) and D)

Question 16

Multiproduct branding refers to a branding strategy __________.

Accepted Answer

A)  that involves giving each product a distinct name when each brand is intended for a different market segment
B)  that uses different brand names for the same product across multiple countries
C)  in which a company uses one name for all its products in a product class
D)  in which manufacturers produce products but sell them under the brand name of a wholesaler or retailer
E)  in which a company uses a contractual agreement to allow someone else to use its brand name for a feeF) A) and E)
G) None of the above

Question 17

Which of the following statements regarding the maturity stage of the product life cycle is most accurate?

Accepted Answer

A)  Technological forces often push a product from the introduction stage to the maturity stage.
B)  During the maturity stage, companies add more distribution outlets to maximize target market coverage.
C)  Sales increase at a decreasing rate as fewer new buyers enter the market.
D)  Industry profits peak because production and distribution costs are declining.
E)  Total industry profits exceed total industry sales.F) A) and B)
G) All of the above

Question 18

Packaging is defined as __________.

Accepted Answer

A)  any box, bottle, jar, can, carton, or bag that can be used for transporting services
B)  any container in which a product is offered for sale and on which label information is communicated
C)  that part of a product that is not recycled
D)  the part of the product that identifies the product or brand, who made it, where and when it was made, how it is to be used, and the contents and ingredients
E)  any container used in the preservation of ideasF) A) and E)
G) C) and D)

Question 19

DiGiorno rising crust pizza has been available in the freezer sections of supermarkets for quite a while. The product's recent introduction of a DiGiorno cheese-stuffed crust to its line of pizzas is an example of __________.

Accepted Answer

A)  a market-product grid
B)  diversification
C)  market modification
D)  product class extension
E)  product modificationF) A) and E)
G) B) and C)

Question 20

The four steps in the building brand equity include: (1)  developing positive brand awareness and __________; (2)  establishing a brand's meaning in the minds of consumers; (3)  eliciting the proper consumer responses to a brand's identity and meaning; and (4)  creating an intense, active, and loyal consumer-brand connection.

Accepted Answer

A)  an association of the brand in consumers' minds with a product class or need lowering the price of products
B)  easing consumers' decision making
C)  incorporating higher value in products
D)  creating market modification E) None of the above
F) A) and C)

Exam 10: Managing Successful Products, Services, and Brands

When Coca-Cola promoted Coke as a morning beverage for those consumers who don't drink coffee, it used a __________ strategy.

Correct Answer
verified

DiGiorno rising crust pizza has been available in the freezer sections of supermarkets for quite a while. The product's recent introduction of a DiGiorno cheese-stuffed crust to its line of pizzas is an example of __________.

Correct Answer
verified

Multiproduct branding refers to a branding strategy __________.

Correct Answer
verified

Johnson & Johnson effectively __________ St. Joseph Aspirin from a product for infants to one targeted at adults who may need a low-strength aspirin designed to reduce the risk of heart attacks or strokes.

Correct Answer
verified

Which of the following statements regarding the maturity stage of the product life cycle is most accurate?

Correct Answer
verified

One of the primary benefits of branding for consumers is that branding __________.

Correct Answer
verified

Trading up refers to __________.

Correct Answer
verified

Johnson & Johnson effectively repositioned St. Joseph Aspirin as a product for infants to an adult low-strength aspirin to reduce the risk of heart attacks or strokes. This is an example of a product repositioning by __________.

Correct Answer
verified

Advertising and promotion costs tend to be higher with a __________ strategy because the company must generate awareness among consumers and retailers for each new brand name without the benefit of any previous impressions.

Correct Answer
verified

Gatorade is most likely in which stage of its product life cycle?

Correct Answer
verified

The __________ stage of the product life cycle is characterized by the slowing of total industry sales or product class revenue, causing marginal competitors to begin leaving the market.

Correct Answer
verified

All of the following are benefits to be stressed during the promotion of services EXCEPT:

Correct Answer
verified

Packaging is defined as __________.

Correct Answer
verified

Tuition, charges, fares, fees, and rates are all terms

Correct Answer
verified

In terms of the diffusion of innovation, innovators account for __________ of product adopters.

Correct Answer
verified

New Balance, Inc. successfully repositioned its athletic shoes to focus on fit, durability, and comfort rather than on going head-on against Nike and Adidas on fashion and professional sports. This product repositioning strategy was designed to __________.

Correct Answer
verified

Correct Answer
verified

Mott's applesauce promotes itself as a low-fat alternative to cooking oil for baked goods. Mott's is __________.

Correct Answer
verified

A product life cycle that results from products that are easily imitated by competitors, whose benefits are readily understood by consumers, and for which the appropriate marketing strategy is to broaden distribution quickly is typical for __________ products.

Correct Answer
verified

Pez was originally sold in Europe as an adult __________.

Correct Answer
verified

Exam 10: Managing Successful Products, Services, and Brands

When Coca-Cola promoted Coke as a morning beverage for those consumers who don't drink coffee, it used a __________ strategy.

Correct AnswerverifiedShow Answer

DiGiorno rising crust pizza has been available in the freezer sections of supermarkets for quite a while. The product's recent introduction of a DiGiorno cheese-stuffed crust to its line of pizzas is an example of __________.

Correct AnswerverifiedShow Answer

Multiproduct branding refers to a branding strategy __________.

Correct AnswerverifiedShow Answer

Johnson & Johnson effectively __________ St. Joseph Aspirin from a product for infants to one targeted at adults who may need a low-strength aspirin designed to reduce the risk of heart attacks or strokes.

Correct AnswerverifiedShow Answer

Which of the following statements regarding the maturity stage of the product life cycle is most accurate?

Correct AnswerverifiedShow Answer

One of the primary benefits of branding for consumers is that branding __________.

Correct AnswerverifiedShow Answer

Trading up refers to __________.

Correct AnswerverifiedShow Answer

Johnson & Johnson effectively repositioned St. Joseph Aspirin as a product for infants to an adult low-strength aspirin to reduce the risk of heart attacks or strokes. This is an example of a product repositioning by __________.

Correct AnswerverifiedShow Answer

Advertising and promotion costs tend to be higher with a __________ strategy because the company must generate awareness among consumers and retailers for each new brand name without the benefit of any previous impressions.

Correct AnswerverifiedShow Answer

Gatorade is most likely in which stage of its product life cycle?

Correct AnswerverifiedShow Answer

The __________ stage of the product life cycle is characterized by the slowing of total industry sales or product class revenue, causing marginal competitors to begin leaving the market.

Correct AnswerverifiedShow Answer

All of the following are benefits to be stressed during the promotion of services EXCEPT:

Correct AnswerverifiedShow Answer

Packaging is defined as __________.

Correct AnswerverifiedShow Answer

Tuition, charges, fares, fees, and rates are all terms

Correct AnswerverifiedShow Answer

In terms of the diffusion of innovation, innovators account for __________ of product adopters.

Correct AnswerverifiedShow Answer

New Balance, Inc. successfully repositioned its athletic shoes to focus on fit, durability, and comfort rather than on going head-on against Nike and Adidas on fashion and professional sports. This product repositioning strategy was designed to __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Mott's applesauce promotes itself as a low-fat alternative to cooking oil for baked goods. Mott's is __________.

Correct AnswerverifiedShow Answer

A product life cycle that results from products that are easily imitated by competitors, whose benefits are readily understood by consumers, and for which the appropriate marketing strategy is to broaden distribution quickly is typical for __________ products.

Correct AnswerverifiedShow Answer

Pez was originally sold in Europe as an adult __________.

Correct AnswerverifiedShow Answer

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