Question 1

Consumer packaged goods firms like General Mills and PepsiCo and as well as industrial firms such as Intel and Hewlett-Packard employ a product manager to manage __________.

Accepted Answer

A)  all of an organization's product items or brands
B)  all of an organization's product classes
C)  all of an organization's existing products through the stages of their life cycles
D)  all products or brands that require close fiscal scrutiny
E)  a close-knit family of products or brandsF) None of the above
G) A) and E)

Question 2

The __________ stage of the product life cycle is characterized by the appearance of competitors.

Accepted Answer

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

Question 3

The life cycle of a product depends on sales to __________.

Accepted Answer

A)  consumers
B)  distributors
C)  intermediaries
D)  brokers
E)  exportersF) B) and D)
G) C) and D)

Question 4

Johnson & Johnson effectively __________ St.Joseph Aspirin from a product for infants to one targeted at adults who may need a low-strength aspirin designed to reduce the risk of heart attacks.

Accepted Answer

A)  reinvented
B)  resurrected
C)  reconfigured
D)  repositioned
E)  realignedF) A) and B)
G) All of the above

Question 5

When a company uses a product line extension,it

Accepted Answer

A)  markets a product under a new brand name so that consumers will view it as an entirely new product line.
B)  markets a new product with the current brand name to enter a new market segment in its product class.
C)  speeds up the movement of a product through its product life cycle.
D)  contracts with another firm to manufacture modified versions of the original products.
E)  applies the current brand name to enter a completely different product class.F) C) and D)
G) D) and E)

Question 6

Johnson & Johnson effectively repositioned St.Joseph Aspirin as a product for infants to an adult low-strength aspirin to reduce the risk of heart attacks.This is an example of a product repositioning by __________.

Accepted Answer

A)  reacting to a competitor's position
B)  reaching a new market
C)  catching a rising trend
D)  changing the value offered
E)  product modificationF) A) and D)
G) B) and D)

Question 7

Black & Decker uses a __________ strategy to reach the "do-it-yourself" market with the Black & Decker brand name and the professional construction market with the DeWalt brand name.

Accepted Answer

A)  product differentiation branding
B)  multiproduct branding
C)  multibranding
D)  segmentation branding
E)  private brandingF) All of the above
G) A) and E)

Question 8

The communication aspect of packaging on a can of Campbell's soup would most likely be of the greatest benefit to __________.

Accepted Answer

A)  people in a hurry to get to work
B)  people on a tight budget
C)  people with dietary restrictions
D)  people who are brand loyal
E)  people who love to try new thingsF) C) and E)
G) D) and E)

Question 9

Which of the following occurs during the decline stage of the product life cycle?

Accepted Answer

A)  Sales decrease substantially.
B)  Flanking product lines are added.
C)  The product becomes less vulnerable to changes in the marketing environment.
D)  Promotional support is increased.
E)  Competition becomes intense as more competitors enter the market.F) A) and D)
G) A) and B)

Question 10

The formula to calculate a CDI = __________.

Accepted Answer

A)  (Percent of the total U.S.population in a market segment ÷ Percent of a brand's total U.S.sales in a market segment) × 100
B)  (Percent of a product category's total U.S.sales in a market segment ÷ Percent of the total U.S.population in a market segment) × 100
C)  (Percent of a brand's total U.S.sales in a market segment ÷ Percent of the total U.S.population in a market segment) × 100
D)  (Percent of the total U.S.population in a market segment ÷ Percent of a product category's total U.S.sales in a market segment) × 100
E)  There is not enough information to make any conclusions.F) A) and C)
G) B) and E)

Question 11

A company uses __________ when it manufactures products but sells them under the brand name of a wholesaler or retailer.

Accepted Answer

A)  manufacturer branding
B)  private branding
C)  generic branding
D)  co-branding
E)  brand licensingF) C) and D)
G) None of the above

Question 12

Which of the following is NOT 
true about a multibranding strategy?

Accepted Answer

A)  With a multibranding strategy,there is no risk that a product failure will affect other products in the line.
B)  Some large firms have found that the complexity and expense of implementing a multibrand strategy outweigh its benefits.
C)  With a multibranding strategy,each brand is unique to each market segment.
D)  A multibranding strategy is used when a firm produces products and sells them under the brand name of a wholesaler or retailer.
E)  Some multibrands are introduced to confront competitors' brands.F) B) and C)
G) A) and D)

Question 13

The lack of profit in the introductory stage of the product life cycle is very often the result of __________.

Accepted Answer

A)  pricing the product too low in an attempt to quickly gain market share
B)  targeting the wrong target market segment
C)  a lack of wholesaler support
D)  the large investment costs in product development
E)  ineffective execution of the marketing programF) B) and E)
G) B) and D)

Question 14

What role does price play in the managing of services?

Accepted Answer

There are two roles pricing plays in man...

Question 15

The FedEx brand name suggests the possibility that it is government sanctioned and fast.This perception is important because of which unique characteristic of services?

Accepted Answer

A)  inventory costs
B)  inseparability
C)  inconsistency
D)  invisibility
E)  intangibilityF) A) and B)
G) A) and E)

Question 16

Men who tried the Gillette Fusion razor were so satisfied with it that 60 percent of them adopted the product permanently.These men are known as __________ purchasers.

Accepted Answer

A)  repeat
B)  replicate
C)  recurring
D)  recursive
E)  die-hardF) A) and E)
G) A) and B)

Question 17

All of the following marketing actions can be used by a firm to counteract barriers to product adoption EXCEPT:

Accepted Answer

A)  offering money-back guarantees.
B)  targeting new consumers.
C)  conducting demonstrations.
D)  offering free samples.
E)  providing extensive usage instructions.F) C) and D)
G) All of the above

Question 18

A strategy for managing a product's life cycle that attempts to increase a product's use among existing customers,create new use situations,or find new customers is referred to as __________.

Accepted Answer

A)  market modification
B)  product modification
C)  product repositioning
D)  product extension
E)  diversificationF) A) and C)
G) A) and B)

Question 19

During the introduction stage of the product life cycle,the place (distribution) element of the marketing mix is highly involved with __________.

Accepted Answer

A)  increasing inventory levels at warehouses and distribution centers to meet potential demand
B)  gaining as many retail distribution outlets as possible,even though many will be reluctant to carry the new product
C)  using an intermodal logistics system to get the products through the marketing channel as quickly as possible
D)  building storage warehouses and distribution centers to establish an efficient infrastructure for the new product
E)  obtaining contracts with independent sales agents and brokers instead of using the firm's salesforceF) A) and D)
G) A) and C)

Question 20

Ralston Purina advertises with the following slogan: "Your Pet,Our Passion-Premium Pet Food by Purina." They offer high quality,super-premium cat and dog food based on formulations that promote "life stage nutrition." This line is an example of __________.

Accepted Answer

A)  rebranding
B)  trading up
C)  trading down
D)  trend setting
E)  product brandingF) B) and D)
G) A) and C)

Exam 10: Managing Successful Products, Services, and Brands

Men who tried the Gillette Fusion razor were so satisfied with it that 60 percent of them adopted the product permanently.These men are known as __________ purchasers.

Correct AnswerverifiedShow Answer

Ralston Purina advertises with the following slogan: "Your Pet,Our Passion-Premium Pet Food by Purina." They offer high quality,super-premium cat and dog food based on formulations that promote "life stage nutrition." This line is an example of __________.

Correct AnswerverifiedShow Answer

During the introduction stage of the product life cycle,the place (distribution) element of the marketing mix is highly involved with __________.

Correct AnswerverifiedShow Answer

The FedEx brand name suggests the possibility that it is government sanctioned and fast.This perception is important because of which unique characteristic of services?

Correct AnswerverifiedShow Answer

All of the following marketing actions can be used by a firm to counteract barriers to product adoption EXCEPT:

Correct AnswerverifiedShow Answer

A strategy for managing a product's life cycle that attempts to increase a product's use among existing customers,create new use situations,or find new customers is referred to as __________.

Correct AnswerverifiedShow Answer

The life cycle of a product depends on sales to __________.

Correct AnswerverifiedShow Answer

Johnson & Johnson effectively __________ St.Joseph Aspirin from a product for infants to one targeted at adults who may need a low-strength aspirin designed to reduce the risk of heart attacks.

Correct AnswerverifiedShow Answer

A company uses __________ when it manufactures products but sells them under the brand name of a wholesaler or retailer.

Correct AnswerverifiedShow Answer

Which of the following is NOT true about a multibranding strategy?

Correct AnswerverifiedShow Answer

Which of the following occurs during the decline stage of the product life cycle?

Correct AnswerverifiedShow Answer

What role does price play in the managing of services?

Correct AnswerverifiedThere are two roles pricing plays in man...View AnswerShow Answer

The lack of profit in the introductory stage of the product life cycle is very often the result of __________.

Correct AnswerverifiedShow Answer

Johnson & Johnson effectively repositioned St.Joseph Aspirin as a product for infants to an adult low-strength aspirin to reduce the risk of heart attacks.This is an example of a product repositioning by __________.

Correct AnswerverifiedShow Answer

Black & Decker uses a __________ strategy to reach the "do-it-yourself" market with the Black & Decker brand name and the professional construction market with the DeWalt brand name.

Correct AnswerverifiedShow Answer

The formula to calculate a CDI = __________.

Correct AnswerverifiedShow Answer

When a company uses a product line extension,it

Correct AnswerverifiedShow Answer

Consumer packaged goods firms like General Mills and PepsiCo and as well as industrial firms such as Intel and Hewlett-Packard employ a product manager to manage __________.

Correct AnswerverifiedShow Answer

The communication aspect of packaging on a can of Campbell's soup would most likely be of the greatest benefit to __________.

Correct AnswerverifiedShow Answer

The __________ stage of the product life cycle is characterized by the appearance of competitors.

Correct AnswerverifiedShow Answer

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