A package label fulfills what two functions?
Answer: conveys information to the consumer & satisfies legal requirements
A package label fulfills what two functions?
Packaging refers to which two of the following?
Packaging refers to which two of the following?
Answer: It is any container in which a product is offered for sale & it has a label on which information is conveyed.
Private-label branding is popular because ______.
Private-label branding is popular because ______.
Answer: it results in high profits for manufacturers and resellers
The benefits packaging and labeling provide a product include which of the following?
The benefits packaging and labeling provide a product include which of the following?
Answer: perceptual, functional, & communication
What is mixed branding?
What is mixed branding?
Answer: when a company markets products under its own name and that of a reseller
_______ can create customer value by offering communication, functional, and perceptual benefits.
_______ can create customer value by offering communication, functional, and perceptual benefits.
Answer: packaging
When a company allows other organizations such as Walmart, Costco, or Target to resell its product under their own names it is called a ______ strategy.
When a company allows other organizations such as Walmart, Costco, or Target to resell its product under their own names it is called a ______ strategy.
Answer: private branding
What are two disadvantages of multibranding?
What are two disadvantages of multibranding?
Answer: Advertising and promotion are typically more expensive & Awareness will have to be built from scratch.
When a firm markets products under its own name and that of a reseller because each attracts different segments, it is called a ________ strategy.
When a firm markets products under its own name and that of a reseller because each attracts different segments, it is called a ________ strategy.
Answer: mixed branding
When a firm uses a distinct name for each of its products, it is called a ________ strategy.
When a firm uses a distinct name for each of its products, it is called a ________ strategy.
Answer: multibranding
When a brand extension confuses consumer perceptions about the brand and results in consumers thinking less favorably about the brand, it is known as ______.
When a brand extension confuses consumer perceptions about the brand and results in consumers thinking less favorably about the brand, it is known as ______.
Answer: brand dilution
Private brands are also known as _______ brands.
Private brands are also known as _______ brands.
Answer: reseller
Hershey Foods teaming with General Mills to offer a breakfast cereal called Reese's Peanut Butter Puffs, where both brand names are used on the packaging, is known as ______.
Hershey Foods teaming with General Mills to offer a breakfast cereal called Reese's Peanut Butter Puffs, where both brand names are used on the packaging, is known as ______.
Answer: cobranding
Which of the following is an advantage of multibranding?
Which of the following is an advantage of multibranding?
Answer: The failure of another product will not affect this brand.
Marriott International owns several brands of hotels at different price ranges, such as Marriott, Courtyard, and Fairfield Inn, in what is called a ________ strategy.
Marriott International owns several brands of hotels at different price ranges, such as Marriott, Courtyard, and Fairfield Inn, in what is called a ________ strategy.
Answer: multibranding
Cobranding can benefits firms by allowing ______.
Cobranding can benefits firms by allowing ______.
Answer: a brand to enter a new product class, partnering with an existing well-known quality brand in it
What often occurs when a product line extension is very similar to the other products of a company?
What often occurs when a product line extension is very similar to the other products of a company?
Answer: It reduces the sales of other products in the company's product line.
Which is an example of a brand extension?
Which is an example of a brand extension?
Answer: Cosmopolitan magazine and Cosmopolitan clothing line
The practice of marketing two or more brands together on the same package or promotion is known as ______.
The practice of marketing two or more brands together on the same package or promotion is known as ______.
Answer: cobranding
Some firms use ______ for each of their products, in addition to the family brand, to distinguish different parts of the product line.
Some firms use ______ for each of their products, in addition to the family brand, to distinguish different parts of the product line.
Answer: subbranding
When a firm sells all its products under one ______, such as Pepperidge Farm, the individual products benefit from the overall brand awareness associated with it.
When a firm sells all its products under one ______, such as Pepperidge Farm, the individual products benefit from the overall brand awareness associated with it.
Answer: family brand
One advantage of a product line _______ is that the company can spend less money to develop brand awareness.
One advantage of a product line _______ is that the company can spend less money to develop brand awareness.
Answer: extension
The use of the same brand name for new products being introduced into a different product class is known as ______.
The use of the same brand name for new products being introduced into a different product class is known as ______.
Answer: brand extension
A product line extension benefits from ______.
A product line extension benefits from ______.
Answer: the brand equity of the multiproduct brand
Combining a corporate or family brand with a new brand to distinguish a part of its product line from others is a tactic called ______.
Combining a corporate or family brand with a new brand to distinguish a part of its product line from others is a tactic called ______.
Answer: subbranding
With ________ branding, a company uses one name for all its products in a product class.
With ________ branding, a company uses one name for all its products in a product class.
Answer: multiproduct
A firm using multiproduct branding typically spends _______ to develop consumer brand awareness when introducing a product line extension.
A firm using multiproduct branding typically spends _______ to develop consumer brand awareness when introducing a product line extension.
Answer: less
Which two of the following are steps in building brand equity?
Which two of the following are steps in building brand equity?
Answer: establish a brand's meaning in the consumers' minds & create a consumer-brand connection
A ________ extension is the practice of using a current brand name to enter a new market segment in its product class.
A ________ extension is the practice of using a current brand name to enter a new market segment in its product class.
Answer: product line
Easy Off, Glass Plus, Cling Free are good brand names because they
Easy Off, Glass Plus, Cling Free are good brand names because they
Answer: suggest the product benefits
Multiproduct branding is also called which two of the following?
Multiproduct branding is also called which two of the following?
Answer: family branding & corporate branding
Developing a positive brand awareness and an association with a product class or need is the first step in ______.
Developing a positive brand awareness and an association with a product class or need is the first step in ______.
Answer: building brand equity
Put the following steps for building brand equity in order, with the first step on top.
Put the following steps for building brand equity in order, with the first step on top.
Answer: develop positive brand awareness, establish a brands meaning in consumers minds, elicit proper consumer responses to a brands identity & create a consumer brand connection
Which two are criteria often used in naming successful brands?
Which two are criteria often used in naming successful brands?
Answer: emotional names & names without legal restrictions
Marketing programs that forge strong, favorable, and unique customer associations and experiences with a brand help to create ______.
Marketing programs that forge strong, favorable, and unique customer associations and experiences with a brand help to create ______.
Answer: brand equity
The first step in creating a strong brand equity is to build strong brand ______.
The first step in creating a strong brand equity is to build strong brand ______.
Answer: awareness
Brand equity is ______.
Brand equity is ______.
Answer: the added value a brand name gives to a product beyond the functional benefits provided
Creating brand ________ begins with establishing brand awareness and also includes establishing brand meaning and eliciting consumer judgments and feelings, and culminates with a consumer-brand connection.
Creating brand ________ begins with establishing brand awareness and also includes establishing brand meaning and eliciting consumer judgments and feelings, and culminates with a consumer-brand connection.
Answer: equity
One of the advantages of building strong brand equity is that ______.
One of the advantages of building strong brand equity is that ______.
Answer: consumers are often willing to pay a higher price for a product with brand equity
Brand ______ is the reason why a brand exists, the place it has in consumers' life, the solution it provides to consumers, and the brand's role in making society better off.
Brand ______ is the reason why a brand exists, the place it has in consumers' life, the solution it provides to consumers, and the brand's role in making society better off.
Answer: purpose
Brand equity is defined as the added value a brand name gives to a product
Brand equity is defined as the added value a brand name gives to a product
Answer: beyond the functional benefits provided
The set of human characteristics, such as physical traits associated with a brand, is the definition of ______.
The set of human characteristics, such as physical traits associated with a brand, is the definition of ______.
Answer: brand personality
After Josh bought his first pair of Nike basketball shoes he was pleased that he did. He likes how the shoes provide support and the way they fit. Even though there are many brands to choose from, Josh is convinced that no other shoes compare to Nike. In terms of brand equity, this exemplifies the fact that _______.
After Josh bought his first pair of Nike basketball shoes he was pleased that he did. He likes how the shoes provide support and the way they fit. Even though there are many brands to choose from, Josh is convinced that no other shoes compare to Nike. In terms of brand equity, this exemplifies the fact that _______.
Answer: brand equity increases a firm's ability to gain a competitive advantage
When a firm uses branding to identify its products and distinguish them from its competitors, its uses what elements to do so?
When a firm uses branding to identify its products and distinguish them from its competitors, its uses what elements to do so?
Answer: packaging design, unique symbols, & product names
An example of a trading up repositioning strategy is ______.
An example of a trading up repositioning strategy is ______.
Answer: a tire manufacturer offering more value by adding "run-flat" technology
The added value a brand name gives to a product beyond the functional benefits the product provides is called brand ______.
The added value a brand name gives to a product beyond the functional benefits the product provides is called brand ______.
Answer: equity
When Harley-Davidson advertises to reinforce the perception that the brand is masculine, rugged, and individualistic, it is building brand ______.
When Harley-Davidson advertises to reinforce the perception that the brand is masculine, rugged, and individualistic, it is building brand ______.
Answer: personality
Product repositioning means changing the product's position ______.
Product repositioning means changing the product's position ______.
Answer: in the minds of consumers
Market modification strategies include finding new customers, increasing a product's ______, and creating new use situations.
Market modification strategies include finding new customers, increasing a product's ______, and creating new use situations.
Answer: use
When an organization uses a name, phrase, design, symbols, or a combination of these to identify products and distinguish them from its competitors it is engaged in ______.
When an organization uses a name, phrase, design, symbols, or a combination of these to identify products and distinguish them from its competitors it is engaged in ______.
Answer: branding
A company that employs a trading up strategy will add value to a product by which two methods?
A company that employs a trading up strategy will add value to a product by which two methods?
Answer: adding additional features & using higher quality materials
Who is responsible for managing existing products through the stages of the life cycle?
Who is responsible for managing existing products through the stages of the life cycle?
Answer: brand manager
The process of changing the place a product occupies in a consumer's mind relative to competitive products is referred to as product ______.
The process of changing the place a product occupies in a consumer's mind relative to competitive products is referred to as product ______.
Answer: repositioning
Product modification consists of altering the product's quality, performance, or ______.
Product modification consists of altering the product's quality, performance, or ______.
Answer: appearance
Based on the diffusion of innovation curve, which two traits would innovators most likely have?
Based on the diffusion of innovation curve, which two traits would innovators most likely have?
Answer: venturesome & highly educated
A product manager is sometimes called a(n) _______ manager.
A product manager is sometimes called a(n) _______ manager.
Answer: brand
What are the three primary ways to manage a product through its life cycle?
What are the three primary ways to manage a product through its life cycle?
Answer: modifying the product, modifying the market, & repositioning the product
Product bundling is one approach that may be used in a product _____ strategy to increase a product's value to customers.
Product bundling is one approach that may be used in a product _____ strategy to increase a product's value to customers.
Answer: modification
Early adopters are ______.
Early adopters are ______.
Answer: leaders in social settings
Paul has an MBA and seems to always know what new technology gadget is coming to the market. He reads many online blogs, and magazines and is willing to be the first one to try any new product that comes on the market. What kind of adopter is Paul?
Paul has an MBA and seems to always know what new technology gadget is coming to the market. He reads many online blogs, and magazines and is willing to be the first one to try any new product that comes on the market. What kind of adopter is Paul?
Answer: innovator
A new product that is not compatible with existing habits and provides no incentive to change is likely to ______.
A new product that is not compatible with existing habits and provides no incentive to change is likely to ______.
Answer: be resisted by consumers
What are two responsibilities of a product manager?
What are two responsibilities of a product manager?
Answer: developing and executing a marketing program for a product line & managing existing products through the stages of the life cycle
Which group of consumers is crucial to the success of new products because of its social influence over later categories of adopters?
Which group of consumers is crucial to the success of new products because of its social influence over later categories of adopters?
Answer: early adopters
While early adopters are crucial to the success of a new product, they still only make up a relatively small percentage of the total consumers in a given product market. This percentage is approximately how big?
While early adopters are crucial to the success of a new product, they still only make up a relatively small percentage of the total consumers in a given product market. This percentage is approximately how big?
Answer: 13.5 percent
Along the diffusion of innovation curve, _______ make up the second group of consumers to adopt an innovation; they tend to be leaders in a social setting.
Along the diffusion of innovation curve, _______ make up the second group of consumers to adopt an innovation; they tend to be leaders in a social setting.
Answer: early adopters
In terms of diffusion of innovation, innovators are likely to ______.
In terms of diffusion of innovation, innovators are likely to ______.
Answer: sleep outside bestbuy for the latest version of a smartphone
Product ________ refers to the entire product category or industry, often illustrated in a product life cycle curve.
Product ________ refers to the entire product category or industry, often illustrated in a product life cycle curve.
Answer: class
The diffusion of innovation curve illustrates the typical rate of adoption for a product or service among consumers. According to the diffusion of innovation curve, when would marketers expect to see highest frequency of adoption for a given product?
The diffusion of innovation curve illustrates the typical rate of adoption for a product or service among consumers. According to the diffusion of innovation curve, when would marketers expect to see highest frequency of adoption for a given product?
Answer: in the middle of the curve
The innovators and early ________ belong to the critical groups of consumer that act as social leaders and influence others to accept a new product.
The innovators and early ________ belong to the critical groups of consumer that act as social leaders and influence others to accept a new product.
Answer: adopters
While innovators are crucial to the success of a new product or service, this category of consumers is actually very small. Approximately what percentage of a total market does this category of consumers represent?
While innovators are crucial to the success of a new product or service, this category of consumers is actually very small. Approximately what percentage of a total market does this category of consumers represent?
Answer: 2.5%
The diffusion of innovation refers to the rate at which consumers ______ a given product or service
The diffusion of innovation refers to the rate at which consumers ______ a given product or service
Answer: adopt
There may be several variations of product ________ within one product class, such as cassette tapes, compact discs, and digital music as variations of prerecorded music.
There may be several variations of product ________ within one product class, such as cassette tapes, compact discs, and digital music as variations of prerecorded music.
Answer: form
The diffusion of innovation curve shows the typical distribution of adoption for five different categories of consumers. Rank the order of these consumers, starting with the first group on the top and ending with the last adopter group on the bottom.
The diffusion of innovation curve shows the typical distribution of adoption for five different categories of consumers. Rank the order of these consumers, starting with the first group on the top and ending with the last adopter group on the bottom.
Answer: innovators, early adopters, early majority, late majority, laggards
Because ______ are introduced, decline, and then return again, their life cycle curves fluctuate up and down.
Because ______ are introduced, decline, and then return again, their life cycle curves fluctuate up and down.
Answer: fashion products
The way a product spreads through the population is known as ______.
The way a product spreads through the population is known as ______.
Answer: diffusion of innovation
Discontinuing a product in the decline stage is known as a product ________ strategy
Discontinuing a product in the decline stage is known as a product ________ strategy
Answer: deletion
Product ________ pertains to variations within the product class, where each may have its own product life cycle curve.
Product ________ pertains to variations within the product class, where each may have its own product life cycle curve.
Answer: form
Because ______ can be easily imitated by competitors, the marketing strategy for this type of product is to broaden distribution quickly to move rapidly into the growth stage of the product life cycle.
Because ______ can be easily imitated by competitors, the marketing strategy for this type of product is to broaden distribution quickly to move rapidly into the growth stage of the product life cycle.
Answer: low learning products
A long introduction stage in the product life cycle is characteristic of a _______-learning product.
A long introduction stage in the product life cycle is characteristic of a _______-learning product.
Answer: high
What two things shorten a product's life cycle?
What two things shorten a product's life cycle?
Answer: greater use of mass communication & more technological change
Men's and women's apparel often have which type of product life cycle curve?
Men's and women's apparel often have which type of product life cycle curve?
Answer: fashion
When a product goes into the _______ stage of the product life cycle, the company may eventually stop producing and selling it.
When a product goes into the _______ stage of the product life cycle, the company may eventually stop producing and selling it.
Answer: decline
Which type of product has benefits that are easily understood by customers and, therefore, has a very short introductory stage?
Which type of product has benefits that are easily understood by customers and, therefore, has a very short introductory stage?
Answer: low learning products
Because it takes longer for consumers to see the benefits of them, ______ have an extended introductory period.
Because it takes longer for consumers to see the benefits of them, ______ have an extended introductory period.
Answer: high learning products
Which statement is true regarding the length of the product life cycle?
Which statement is true regarding the length of the product life cycle?
Answer: consumer products often have shorter life cycles than business ones
What two options are possible for firms who have products in the decline stage of the product life cycle?
What two options are possible for firms who have products in the decline stage of the product life cycle?
Answer: deletion & harvesting
Product deletion is defined as ______.
Product deletion is defined as ______.
Answer: dropping a product from the company's product line
The _______ stage of the product life cycle is characterized by a slowing of growth in total industry sales or product class revenue.
The _______ stage of the product life cycle is characterized by a slowing of growth in total industry sales or product class revenue.
Answer: maturity
In the ________ stage for the product life cycle, advertising and promotional spending is used to stimulate primary demand and build awareness.
In the ________ stage for the product life cycle, advertising and promotional spending is used to stimulate primary demand and build awareness.
Answer: introduction
A company will resort to harvesting or deletion when ______.
A company will resort to harvesting or deletion when ______.
Answer: a product begins to consume a large amount of resources compared with its future potential
Products in the ________ stage of the product life cycle tend to consume a disproportionate share of management and financial resources relative to their future worth.
Products in the ________ stage of the product life cycle tend to consume a disproportionate share of management and financial resources relative to their future worth.
Answer: decline
In the ________ stage of the product life cycle, most consumers who would buy the product are either repeat purchaser of the item or have tried and abandoned it, making it more challenging to acquire new customers.
In the ________ stage of the product life cycle, most consumers who would buy the product are either repeat purchaser of the item or have tried and abandoned it, making it more challenging to acquire new customers.
Answer: maturity
The growth stage of product life cycle is characterized by more competition and a ______.
The growth stage of product life cycle is characterized by more competition and a ______.
Answer: rapid increase in sales
Promotional expenditures in the introduction stage are often made to stimulate ________ demand.
Promotional expenditures in the introduction stage are often made to stimulate ________ demand.
Answer: primary
What are two key characteristics of the introduction stage of the product life cycle?
What are two key characteristics of the introduction stage of the product life cycle?
Answer: slow growing sales & minimal profit
The decline stage for a product occurs when ______.
The decline stage for a product occurs when ______.
Answer: sales for the product drop
The product life cycle is ______.
The product life cycle is ______.
Answer: made up of the stages a product goes through in the marketplace, from introduction to decline
What are two key characteristics of the growth stage of the product life cycle?
What are two key characteristics of the growth stage of the product life cycle?
Answer: increasing competition & rapid increase in sales
Often stimulated during the introduction stage, primary demand represents ______.
Often stimulated during the introduction stage, primary demand represents ______.
Answer: the desire for the product class
During the introduction stage sales are ______ and profit is ______.
During the introduction stage sales are ______ and profit is ______.
Answer: growing slowly; minimal
The different stages a product goes through during its existence is known as ______.
The different stages a product goes through during its existence is known as ______.
Answer: the product life cycle
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