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Exam 10: Product, Branding, and Packing Concepts

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Question 91

Multiple Choice

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Which of the following is always used to determine the classification of a good?

A) Buyer's intent for using the product
B) Amount of shopping required by the buyer to obtain the product
C) Price of the product
D) Specific product features
E) Industry competitors

F) A) and E)
G) B) and C)

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Question 92

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Process materials are used directly in the production of products.

A) True
B) False

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Question 93

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"The people who are in-the-know" are the early adopters.

Megan receives a phone call from her insurance agent. The agent informs her that although she has homeowner's insurance and car insurance, she really should consider purchasing a life insurance policy. The life insurance policy is an example of a(n) _____ product.

Hershey Foods Corp. offers a line of candy that includes Kit Kat, Mr. Goodbar, Krackel, Hershey's Kisses, Reese's Peanut Butter Cups, Rolo, and Twizzlers. These candies best illustrate Hershey's product mix

The makers of Tide Detergent created "pods" of the product, characterized by a small, square, plastic-wrapped packet that was easier to use. Since it is packaged in these square pods, it requires no measuring and can be transported more easily if one is carrying clothes to a laundromat. This change in packaging is a strategy that can most likely help boost sales in the ____ stage of the product life cycle.

Discuss the implications for a firm's marketing strategy of classifying a product as a convenience, shopping, specialty, or unsought item.

What major changes in a marketing strategy may be required as a product moves into the maturity stage of the product life cycle?

When a business finds itself squeezed out of a market for a product or loses interest in that product, it is a sign of being in the ____ stage of the product life cycle.

Brand equity is a customer's favorable attitude toward a specific brand and, depending on strength, some likelihood of consistent purchase of the brand when needs for a product in this product category arise.

Intense price wars are likely to occur during the growth stage of the product life cycle as competitors attempt to gain market share.

MADD (Mothers Against Drunk Driving) is a nonprofit organization that primarily markets

Which of the following best defines the interest stage in the product adoption process?

Intensive competition causes price increases during the growth stage of the product life cycle.

Elements that help create brand equity include all of the following except brand

An ad that stresses "Get the real Proactiv Solution; accept no substitutes!" is best geared for which stage of the product life cycle?

Private distributor brands are owned by retailers and do not identify the manufacturer of the product. Which of the following is an example of a private distributor brand?

The original marketing strategy should not be altered in any way as a product travels through the stages of the product life cycle because consumers can become confused.

Component parts usually need to be processed significantly before they are used in production.

Sara Lee Corporation manufactures desserts, breads, pantyhose, meats, and a variety of other products. These products make up Sara Lee's product