Question 1

Xunrui Communications is an upstart maker of inexpensive smartphones for the Chinese market. Xunrui purchases components and uses small assembly factories in Shenzhen, in southern China. These smartphones retail for about $65 in U.S. dollars, much less than the $250 to $600 for smartphones marketed by Apple or Samsung, the top two marketers of these items. Here, Xunrui Communications most likely is using which pricing strategy?

Accepted Answer

A)  penetration pricing
B)  cost-plus pricing
C)  target ROI pricing
D)  above-market pricing
E)  skimming pricingF) B) and E)
G) A) and E)

Question 2

An expanded marketing mix for services that includes the four Ps (product, price, promotion, and place or distribution)  as well as people, physical environment, and process, is referred to as the __________.

Accepted Answer

A)  seven Ps of services marketing
B)  service matrix
C)  service continuum
D)  service encounters
E)  service mixF) A) and E)
G) A) and B)

Question 3

All of the following are true about product line extensions EXCEPT:

Accepted Answer

A)  this strategy can result in lower advertising and promotion costs.
B)  a risk that comes with product line extensions is that sales of an extension may come at the expense of other items in the company's product line.
C)  a product line extension raises the level of brand awareness.
D)  line extensions work best when they do not cause cannibalization.
E)  product line extensions involve using a current brand name to enter a different product class.F) B) and D)
G) D) and E)

Question 4

Companies can employ four general branding strategies, which include: (1)  multiproduct branding; (2)  multibranding; (3)  __________; and (4)  mixed branding.

Accepted Answer

A)  retailer branding
B)  intermediary branding
C)  private branding
D)  brand licensing
E)  co-brandingF) A) and E)
G) A) and D)

Question 5

-Figure 10-1 above represents the stages of the product life cycle. What does the portion of the curve labeled C represent?

Accepted Answer

A)  introduction
B)  maturity
C)  growth
D)  accelerated development
E)  declineF) All of the above
G) A) and D)

Question 6

When they were first introduced, peel-back aluminum seals were seen as a great alternative to using a traditional can opener to open cans because many people sliced their fingers with can openers. As soon as the technology became more widely available, many manufacturers switched to this safer, more flexible seal. This packaging innovation demonstrated the importance of a __________.

Accepted Answer

A)  functional benefit
B)  reseller benefit
C)  communication benefit
D)  perceptual benefit
E)  psychological benefitF) A) and B)
G) C) and E)

Question 7

As product adopters, members of the early majority

Accepted Answer

A)  have a fear of debt and use neighbors and friends as information sources.
B)  are skeptical and have below average social status.
C)  are deliberate and use many informal social contacts.
D)  are leaders in social settings and have a slightly above average education.
E)  are venturesome, highly educated, and use multiple information sources.F) A) and D)
G) A) and E)

Question 8

When a company retains a product but reduces marketing costs, it is referred to as __________.

Accepted Answer

A)  skimming
B)  harvesting
C)  milking
D)  deletion
E)  divestingF) A) and B)
G) A) and C)

Question 9

To better connect with its customers, Kraft did what with its Chips Ahoy! cookies?

Accepted Answer

A)  gave the products a more interesting brand personality
B)  created additional brand extensions, such as adding chocolate dipped and mint dipped cookies
C)  engaged in a co-branding effort with Blue Bell ice cream
D)  complied with ISO 9000 total quality management guidelines due to its expansion into Asian markets
E)  created a patented resealable opening in the bag for easy access and to maintain freshnessF) A) and C)
G) A) and D)

Question 10

Gatorade offers a range of product offerings. The firm uses one name for all its products in a product class. Gatorade is using a __________ strategy.

Accepted Answer

A)  multibranding
B)  family branding
C)  co-branding
D)  dual branding
E)  mixed brandingF) A) and D)
G) B) and E)

Question 11

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

Accepted Answer

A)  Marketing emphasis is directed towards generating more consumer awareness.
B)  Marketing emphasis switches to finding more channel intermediaries to carry the product.
C)  Marketing emphasis aims at stimulating primary demand for the product.
D)  Marketing attention is directed toward holding market share through further product differentiation and finding new buyers.
E)  Marketing emphasis is directed towards having salespeople allocate less time to selling the product.F) B) and C)
G) B) and D)

Question 12

Many nonprofit organizations use PSAs in their media planning. What does the acronym "PSA" stand for?

Accepted Answer

A)  public stakeholder agreement
B)  promotional service amendment
C)  public sustainability amendment
D)  promotional setting announcement
E)  public service announcementF) B) and C)
G) A) and E)

Question 13

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. The two indexes focus on __________.

Accepted Answer

A)  marketing efficiency and production efficiency
B)  dollar market share and unit market share
C)  monthly dollar sales by channel and monthly number of units sold by channel
D)  sales per square foot and same-store sales growth
E)  category development and brand developmentF) B) and D)
G) A) and B)

Question 14

When a product reaches the decline stage of the product life cycle, a firm has two choices. One choice involves product deletion, dropping it from a firm's product line. The other is called __________, which retains the product in the product line but reduces marketing costs.

Accepted Answer

A)  reaping
B)  paring down
C)  divesting
D)  milking
E)  harvestingF) None of the above
G) B) and E)

Question 15

An organization's use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors is referred to as __________.

Accepted Answer

A)  a label
B)  branding
C)  a trademark
D)  a brand name
E)  a trade nameF) A) and C)
G) A) and E)

Question 16

-Ralph Lauren has a long-term __________ agreement with Luxottica Group, S.p.A. of Milan for the design, production, and worldwide distribution of prescription frames and sunglasses under the Ralph Lauren brand. The agreement is an ideal fit for both companies. Ralph Lauren is a leader in the design, marketing, and distribution of premium lifestyle products, while Luxottica is the global leader in the premium and luxury eyewear sector.

Accepted Answer

A)  brand licensing
B)  generic branding
C)  multiproduct branding licensing
D)  mixed branding
E)  co-brandingF) C) and E)
G) B) and E)

Question 17

Mixed branding refers to a branding strategy in which a firm __________.

Accepted Answer

A)  gives each product a distinct name when each brand is intended for a different market segment
B)  uses different brand names for the same product across multiple countries
C)  uses one name for all its products in a product class
D)  produces products but sell them under the brand name of a wholesaler or retailer
E)  markets some products under its own name(s)  and other products under the name of a reseller because the segment attracted to the reseller is different from its own marketF) B) and D)
G) B) and C)

Question 18

Sales exhibit a steady downward trend throughout which stage of the product life cycle?

Accepted Answer

A)  introduction
B)  decay
C)  reposition
D)  maturity
E)  declineF) A) and B)
G) B) and C)

Question 19

The fourth and last step in the sequential process of building brand equity is to __________.

Accepted Answer

A)  develop positive brand awareness
B)  establish a brand's meaning in the minds of consumers
C)  elicit the proper consumer responses to a brands identity and meaning
D)  create an intense, active, and loyal consumer-brand connection
E)  reward loyal customer behaviorF) A) and E)
G) A) and D)

Question 20

Define brand equity. List the four sequential steps used to develop brand equity. Which step is the most difficult?

Accepted Answer

Brand equity is the added value a brand ...

Exam 10: Managing Successful Products, Services, and Brands

Correct Answer
verified

Correct Answer
verified

-Figure 10-1 above represents the stages of the product life cycle. What does the portion of the curve labeled C represent?

Correct Answer
verified

Correct Answer
verified

Sales exhibit a steady downward trend throughout which stage of the product life cycle?

Correct Answer
verified

The fourth and last step in the sequential process of building brand equity is to __________.

Correct Answer
verified

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

Correct Answer
verified

To better connect with its customers, Kraft did what with its Chips Ahoy! cookies?

Correct Answer
verified

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. The two indexes focus on __________.

Correct Answer
verified

Gatorade offers a range of product offerings. The firm uses one name for all its products in a product class. Gatorade is using a __________ strategy.

Correct Answer
verified

Define brand equity. List the four sequential steps used to develop brand equity. Which step is the most difficult?

Correct Answer
verified
Brand equity is the added value a brand ...
View Answer

An organization's use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors is referred to as __________.

Correct Answer
verified

When a company retains a product but reduces marketing costs, it is referred to as __________.

Correct Answer
verified

An expanded marketing mix for services that includes the four Ps (product, price, promotion, and place or distribution) as well as people, physical environment, and process, is referred to as the __________.

Correct Answer
verified

All of the following are true about product line extensions EXCEPT:

Correct Answer
verified

Many nonprofit organizations use PSAs in their media planning. What does the acronym "PSA" stand for?

Correct Answer
verified

Mixed branding refers to a branding strategy in which a firm __________.

Correct Answer
verified

Companies can employ four general branding strategies, which include: (1) multiproduct branding; (2) multibranding; (3) __________; and (4) mixed branding.

Correct Answer
verified

When a product reaches the decline stage of the product life cycle, a firm has two choices. One choice involves product deletion, dropping it from a firm's product line. The other is called __________, which retains the product in the product line but reduces marketing costs.

Correct Answer
verified

As product adopters, members of the early majority

Correct Answer
verified

Exam 10: Managing Successful Products, Services, and Brands

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

-Figure 10-1 above represents the stages of the product life cycle. What does the portion of the curve labeled C represent?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Sales exhibit a steady downward trend throughout which stage of the product life cycle?

Correct AnswerverifiedShow Answer

The fourth and last step in the sequential process of building brand equity is to __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

To better connect with its customers, Kraft did what with its Chips Ahoy! cookies?

Correct AnswerverifiedShow Answer

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. The two indexes focus on __________.

Correct AnswerverifiedShow Answer

Gatorade offers a range of product offerings. The firm uses one name for all its products in a product class. Gatorade is using a __________ strategy.

Correct AnswerverifiedShow Answer

Define brand equity. List the four sequential steps used to develop brand equity. Which step is the most difficult?

Correct AnswerverifiedBrand equity is the added value a brand ...View AnswerShow Answer

An organization's use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors is referred to as __________.

Correct AnswerverifiedShow Answer

When a company retains a product but reduces marketing costs, it is referred to as __________.

Correct AnswerverifiedShow Answer

An expanded marketing mix for services that includes the four Ps (product, price, promotion, and place or distribution) as well as people, physical environment, and process, is referred to as the __________.

Correct AnswerverifiedShow Answer

All of the following are true about product line extensions EXCEPT:

Correct AnswerverifiedShow Answer

Many nonprofit organizations use PSAs in their media planning. What does the acronym "PSA" stand for?

Correct AnswerverifiedShow Answer

Mixed branding refers to a branding strategy in which a firm __________.

Correct AnswerverifiedShow Answer

Companies can employ four general branding strategies, which include: (1) multiproduct branding; (2) multibranding; (3) __________; and (4) mixed branding.

Correct AnswerverifiedShow Answer

When a product reaches the decline stage of the product life cycle, a firm has two choices. One choice involves product deletion, dropping it from a firm's product line. The other is called __________, which retains the product in the product line but reduces marketing costs.

Correct AnswerverifiedShow Answer

As product adopters, members of the early majority

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Brand equity is the added value a brand ...
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
verified

Correct Answer
verified