Question 1

In which stage of the product life cycle do marginal competitors begin to leave the market?

Accepted Answer

A)  introduction
B)  growth
C)  decline
D)  maturity
E)  harvestF) A) and D)
G) None of the above

Question 2

Many service businesses use off-peak pricing to reflect variations in

Accepted Answer

A)  costs of delivering service.
B)  supply for a service.
C)  profitability based on time of day or week.
D)  demand for a service.
E)  capacity.F) A) and B)
G) A) and C)

Question 3

Among teenagers,Pez has a __________ percent awareness level.

Accepted Answer

A)  50%
B)  60%
C)  75%
D)  89%
E)  98%F) C) and E)
G) B) and C)

Question 4

A company may choose a skimming strategy during the introduction stage of its product to help recover costs of development and/or to __________.

Accepted Answer

A)  capitalize on the price insensitivity of early buyers
B)  discourage competition from other manufacturers
C)  ease the product into its maturity stage
D)  gain the largest unit sales possible
E)  gain more distribution outletsF) B) and E)
G) C) and D)

Question 5

The largest numbers of product adopters with respect to the diffusion of innovation are found among __________.

Accepted Answer

A)  innovators and laggards
B)  early majority and late majority
C)  late majority and laggards
D)  innovators and early majority
E)  innovators and early adoptersF) B) and E)
G) B) and C)

Question 6

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) A) and B)
G) A) and C)

Question 7

Downsizing reduces the __________.

Accepted Answer

A)  quality of materials without changing the price
B)  product's price along with the quality of the materials
C)  package content without changing its size while maintaining or increasing the package price
D)  number of product features
E)  number of product items in a product lineF) A) and E)
G) A) and B)

Question 8

The white apple with a bite taken out of it that appears on every Apple product is an example of a __________.

Accepted Answer

A)  copyright
B)  trade name
C)  trade mark
D)  logotype
E)  labelF) A) and B)
G) B) and D)

Question 9

Gatorade is classified as a __________ brand.

Accepted Answer

A)  domestic
B)  regional
C)  international
D)  global
E)  nationwideF) A) and E)
G) A) and B)

Question 10

All of the following are product modification strategies EXCEPT:

Accepted Answer

A)  product bundling.
B)  improving a product's quality.
C)  changing a product's appearance.
D)  creating a new use situation.
E)  altering a product's performance.F) A) and B)
G) B) and D)

Question 11

Another name for multiproduct branding is __________.

Accepted Answer

A)  family branding
B)  mixed branding
C)  uniform branding
D)  co-branding
E)  agent licensingF) A) and D)
G) A) and E)

Question 12

The challenges of packaging and labeling are often global.Two of the particular types of challenges facing global manufacturers are health and safety concerns and __________.

Accepted Answer

A)  making packaging a less expensive part of the marketing strategy
B)  creating larger size packages to be sold at warehouse stores.
C)  ensuring total quality management across national boundaries
D)  creating packaging sensitive to cultural diversity
E)  addressing ongoing environmental concernsF) A) and E)
G) A) and D)

Question 13

Brand equity is the added value a brand name gives to a product beyond the functional benefits provided.This value has two distinct advantages: (1) it creates a competitive advantage and (2) __________.

Accepted Answer

A)  it guarantees the lowest prices
B)  decision making becomes easier for consumers
C)  there is no need for coupons,discounts,or other customer incentives
D)  customers are often willing to pay a higher price
E)  new market segments are easily added to the market-product gridF) A) and B)
G) A) and C)

Question 14

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) A) and E)
G) None of the above

Question 15

Which of the following is a product modification strategy?

Accepted Answer

A)  creating new advertising for a product
B)  improving a product's quality
C)  finding a new target market for a product
D)  creating a new use situation for a product
E)  altering a product's distributionF) All of the above
G) B) and E)

Question 16

Describe the concept of diffusion of innovation.Identify the category and incidence in the population for each product adopter.

Accepted Answer

The diffusion of innovation is the exten...

Question 17

The range of Gatorade offerings from the traditional Gatorade Thirst Quencher to newly enhanced beverages conveying the attitude of a tough-love coach or personal trainer through in-your-face names on the label and nutrition benefits inside are all examples of a company's commitment to __________ product improvement.

Accepted Answer

A)  dynamic
B)  discontinuous
C)  continuous
D)  symbiotic
E)  simultaneousF) C) and D)
G) B) and C)

Question 18

Dockers,the U.S.market leader in casual pants,originally intended its product as a single pant for every situation.Dockers now promotes different looks for work,weekend,dress,and golf.Dockers' new strategy is designed to __________.

Accepted Answer

A)  create brand awareness
B)  create a new use situation
C)  increase a product's use
D)  find new customers
E)  lower surplus inventory levelsF) B) and E)
G) D) and E)

Question 19

A product manager is sometimes called a __________.

Accepted Answer

A)  chief marketing officer (CMO) 
B)  brand manager
C)  marketing manager
D)  category manager
E)  sales managerF) None of the above
G) A) and C)

Question 20

Compare the three ways to manage a product through its product life cycle.

Accepted Answer

The three ways a product or brand manage...

Exam 10: Managing Successful Products, Services, and Brands

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

Brand equity is the added value a brand name gives to a product beyond the functional benefits provided.This value has two distinct advantages: (1) it creates a competitive advantage and (2) __________.

Correct Answer
verified

Which of the following is a product modification strategy?

Correct Answer
verified

In which stage of the product life cycle do marginal competitors begin to leave the market?

Correct Answer
verified

A company may choose a skimming strategy during the introduction stage of its product to help recover costs of development and/or to __________.

Correct Answer
verified

Describe the concept of diffusion of innovation.Identify the category and incidence in the population for each product adopter.

Correct Answer
verified
The diffusion of innovation is the exten...
View Answer

Pez was originally sold in Europe as an adult __________.

Correct Answer
verified

Among teenagers,Pez has a __________ percent awareness level.

Correct Answer
verified

The challenges of packaging and labeling are often global.Two of the particular types of challenges facing global manufacturers are health and safety concerns and __________.

Correct Answer
verified

All of the following are product modification strategies EXCEPT:

Correct Answer
verified

The largest numbers of product adopters with respect to the diffusion of innovation are found among __________.

Correct Answer
verified

Compare the three ways to manage a product through its product life cycle.

Correct Answer
verified
The three ways a product or brand manage...
View Answer

Downsizing reduces the __________.

Correct Answer
verified

The white apple with a bite taken out of it that appears on every Apple product is an example of a __________.

Correct Answer
verified

Many service businesses use off-peak pricing to reflect variations in

Correct Answer
verified

Gatorade is classified as a __________ brand.

Correct Answer
verified

Another name for multiproduct branding is __________.

Correct Answer
verified

Correct Answer
verified

Dockers,the U.S.market leader in casual pants,originally intended its product as a single pant for every situation.Dockers now promotes different looks for work,weekend,dress,and golf.Dockers' new strategy is designed to __________.

Correct Answer
verified

A product manager is sometimes called a __________.

Correct Answer
verified

Exam 10: Managing Successful Products, Services, and Brands

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

Brand equity is the added value a brand name gives to a product beyond the functional benefits provided.This value has two distinct advantages: (1) it creates a competitive advantage and (2) __________.

Correct AnswerverifiedShow Answer

Which of the following is a product modification strategy?

Correct AnswerverifiedShow Answer

In which stage of the product life cycle do marginal competitors begin to leave the market?

Correct AnswerverifiedShow Answer

A company may choose a skimming strategy during the introduction stage of its product to help recover costs of development and/or to __________.

Correct AnswerverifiedShow Answer

Describe the concept of diffusion of innovation.Identify the category and incidence in the population for each product adopter.

Correct AnswerverifiedThe diffusion of innovation is the exten...View AnswerShow Answer

Pez was originally sold in Europe as an adult __________.

Correct AnswerverifiedShow Answer

Among teenagers,Pez has a __________ percent awareness level.

Correct AnswerverifiedShow Answer

The challenges of packaging and labeling are often global.Two of the particular types of challenges facing global manufacturers are health and safety concerns and __________.

Correct AnswerverifiedShow Answer

All of the following are product modification strategies EXCEPT:

Correct AnswerverifiedShow Answer

The largest numbers of product adopters with respect to the diffusion of innovation are found among __________.

Correct AnswerverifiedShow Answer

Compare the three ways to manage a product through its product life cycle.

Correct AnswerverifiedThe three ways a product or brand manage...View AnswerShow Answer

Downsizing reduces the __________.

Correct AnswerverifiedShow Answer

The white apple with a bite taken out of it that appears on every Apple product is an example of a __________.

Correct AnswerverifiedShow Answer

Many service businesses use off-peak pricing to reflect variations in

Correct AnswerverifiedShow Answer

Gatorade is classified as a __________ brand.

Correct AnswerverifiedShow Answer

Another name for multiproduct branding is __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Dockers,the U.S.market leader in casual pants,originally intended its product as a single pant for every situation.Dockers now promotes different looks for work,weekend,dress,and golf.Dockers' new strategy is designed to __________.

Correct AnswerverifiedShow Answer

A product manager is sometimes called a __________.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The diffusion of innovation is the exten...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The three ways a product or brand manage...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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