Question 1

Even though Liquid Paper correction fluid is in the __________ stage of its product life cycle, Sanford, its manufacturer, has not deleted it from its line because there is still a residual core of consumers who use the product.

Accepted Answer

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

Question 2

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

Accepted Answer

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

Question 3

Trademark refers to

Accepted Answer

A)  any word, device (design, sound, shape or color) , or combination of these used to distinguish a seller's products or services.
B)  the part of a brand that can be spoken.
C)  the part of a brand that is a symbol or design and cannot be vocalized.
D)  the commercial, legal name under which a company does business.
E)  the identification that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it.F) A) and D)
G) B) and C)

Question 4

Customer value can assume numerous forms. For Pez Candy, Inc., customer value manifests itself in the form of

Accepted Answer

A)  an upbeat jingle.
B)  character candy dispensers.
C)  a stylish logotype.
D)  sour taste.
E)  sugar coating.F) B) and C)
G) A) and D)

Question 5

How long is a product life cycle? What determines its length?

Accepted Answer

There is no set time that a product take...

Question 6

Companies can choose from several different branding strategies. Companies such as Sears, with brands its Kenmore appliances and Craftsman tools, are using a __________ strategy.

Accepted Answer

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

Question 7

A manufacturer's branding strategy in which a distinct brand name is given to each of its products is referred to as

Accepted Answer

A)  multiproduct branding.
B)  generic branding.
C)  product differentiation branding.
D)  mixed branding.
E)  multibranding.F) C) and D)
G) C) and E)

Question 8

What is the difference between multiproduct branding and multibrand strategies? What advantages are offered by each of these two approaches?

Accepted Answer

The manufacturer may use either a multip...

Question 9

The desire for a product class rather than for a specific brand is called __________ demand.

Accepted Answer

A)  selective
B)  primary
C)  derived
D)  generic
E)  secondaryF) D) and E)
G) None of the above

Question 10

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 sneakers.F) A) and E)
G) A) and B)

Question 11

In which stage of the product life cycle is it important to broaden distribution of the product?

Accepted Answer

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

Question 12

Identify and describe the stages of the generalized product life cycle. For each stage, specify the marketing objective a firm should attempt to achieve.

Accepted Answer

There are four stages of the generalized...

Question 13

What is the marketing objective for the introduction stage of the product life cycle?

Accepted Answer

A)  harvesting
B)  market share
C)  stress differentiation
D)  maintain brand loyalty
E)  gain awarenessF) None of the above
G) C) and D)

Question 14

Reducing the number of features, qualities, or price when repositioning a product is referred to as

Accepted Answer

A)  product paring.
B)  down trading.
C)  product deflation.
D)  trading down.
E)  product simplification.F) C) and D)
G) A) and B)

Question 15

Pez was originally sold in Europe as __________ in plain headless dispensers. The product got its name from the German word pfefferminz, which means peppermint.

Accepted Answer

A)  chewing gum
B)  a breath mint
C)  an antacid
D)  a pain reliever
E)  candyF) A) and D)
G) B) and E)

Question 16

The 3D OLED (organic light-emitting diode)  HDTVs, such as the 55-inch model from LG Electronics that in 2015 cost about $10,000, were in which stage of their product life cycle?

Accepted Answer

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

Question 17

As more competitors launch their own products and the product progresses along its life cycle, company attention is focused on creating __________ demand, or the preference for a specific brand.

Accepted Answer

A)  primary
B)  selective
C)  derived
D)  generic
E)  secondaryF) A) and B)
G) None of the above

Question 18

Three important aspects of product life cycles are: (1)  their length, (2)  the shape of their sales curves, and (3)  the rate at which

Accepted Answer

A)  consumers recognize products.
B)  consumers adopt products.
C)  consumers abandon products.
D)  competitors create "me too" products.
E)  environmental forces affect products.F) B) and D)
G) A) and B)

Question 19

The marketing objective for a product in the __________ stage of the product life cycle is to create consumer awareness and stimulate trial.

Accepted Answer

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

Question 20

Promotional expenses at the maturity stage of the product life cycle are often designed to

Accepted Answer

A)  convince those who have abandoned the brand to try it again.
B)  maintain market share.
C)  create a sense of nostalgia.
D)  attract more price-conscious consumers.
E)  thwart the growing number of competitors that have entered the market.F) A) and B)
G) B) and C)

Exam 11: Managing Successful Products Services and Brands

The 3D OLED (organic light-emitting diode) HDTVs, such as the 55-inch model from LG Electronics that in 2015 cost about $10,000, were in which stage of their product life cycle?

Correct AnswerverifiedShow Answer

Identify and describe the stages of the generalized product life cycle. For each stage, specify the marketing objective a firm should attempt to achieve.

Correct AnswerverifiedThere are four stages of the generalized...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Trademark refers to

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

How long is a product life cycle? What determines its length?

Correct AnswerverifiedThere is no set time that a product take...View AnswerShow Answer

A manufacturer's branding strategy in which a distinct brand name is given to each of its products is referred to as

Correct AnswerverifiedShow Answer

Three important aspects of product life cycles are: (1) their length, (2) the shape of their sales curves, and (3) the rate at which

Correct AnswerverifiedShow Answer

Promotional expenses at the maturity stage of the product life cycle are often designed to

Correct AnswerverifiedShow Answer

Even though Liquid Paper correction fluid is in the __________ stage of its product life cycle, Sanford, its manufacturer, has not deleted it from its line because there is still a residual core of consumers who use the product.

Correct AnswerverifiedShow Answer

The desire for a product class rather than for a specific brand is called __________ demand.

Correct AnswerverifiedShow Answer

Reducing the number of features, qualities, or price when repositioning a product is referred to as

Correct AnswerverifiedShow Answer

Companies can choose from several different branding strategies. Companies such as Sears, with brands its Kenmore appliances and Craftsman tools, are using a __________ strategy.

Correct AnswerverifiedShow Answer

In which stage of the product life cycle is it important to broaden distribution of the product?

Correct AnswerverifiedShow Answer

What is the marketing objective for the introduction stage of the product life cycle?

Correct AnswerverifiedShow Answer

Customer value can assume numerous forms. For Pez Candy, Inc., customer value manifests itself in the form of

Correct AnswerverifiedShow Answer

As more competitors launch their own products and the product progresses along its life cycle, company attention is focused on creating __________ demand, or the preference for a specific brand.

Correct AnswerverifiedShow Answer

What is the difference between multiproduct branding and multibrand strategies? What advantages are offered by each of these two approaches?

Correct AnswerverifiedThe manufacturer may use either a multip...View AnswerShow Answer

The marketing objective for a product in the __________ stage of the product life cycle is to create consumer awareness and stimulate trial.

Correct AnswerverifiedShow Answer

Pez was originally sold in Europe as __________ in plain headless dispensers. The product got its name from the German word pfefferminz, which means peppermint.

Correct AnswerverifiedShow Answer

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There are four stages of the generalized...
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There is no set time that a product take...
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The manufacturer may use either a multip...
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