Question 1

When selecting a brand name, it should: (1)  __________; (2)  be memorable, distinctive, and positive; (3)  fit the company or product image; (4)  have no legal or regulatory restrictions; (5)  be simple and emotional; and (6)  have favorable phonetic and semantic associations in other languages.

Accepted Answer

A)  never have a humorous connotation
B)  suggest the product benefits
C)  not be easily imitated
D)  be patented
E)  easy to spell and pronounceF) A) and B)
G) A) and C)

Question 2

Pez was originally sold in Europe as an adult

Accepted Answer

A)  breath mint.
B)  chewing gum.
C)  pain reliever.
D)  stop-smoking patch.
E)  antacid.F) B) and E)
G) B) and D)

Question 3

Multiproduct branding refers to a branding strategy

Accepted Answer

A)  that involves giving each product a distinct name when each brand is intended for a different market segment.
B)  that uses different brand names for the same product across multiple countries.
C)  in which a company uses one name for all its products in a product class.
D)  in which manufacturers produce products but sell them under the brand name of a wholesaler or retailer.
E)  in which a company uses a contractual agreement to allow someone else to use its brand name for a fee.F) B) and E)
G) A) and B)

Question 4

Brand equity provides a financial advantage for a brand's owner because successful, established brand names have an economic value in the sense that they are

Accepted Answer

A)  tangible assets.
B)  intangible assets.
C)  durable goods.
D)  nondurable goods.
E)  intangible equity.F) None of the above
G) B) and D)

Question 5

At which stage of the product life cycle is a company likely to have its most complete product line?

Accepted Answer

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

Question 6

An integral part of the package that typically identifies the product or brand, who made it, where and when it was made, how it is to be used, and package contents and ingredients is referred to as

Accepted Answer

A)  an SKU.
B)  a product information panel.
C)  a UPC.
D)  an RFID.
E)  a label.F) C) and E)
G) A) and E)

Question 7

The formula __________ is used to calculate 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)  of the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.F) D) and E)
G) None of the above

Question 8

Which stage in the product life cycle is characterized by a slowing of total industry sales or product class revenue?

Accepted Answer

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

Question 9

Usually two curves are shown in a figure that represents the stages of the product life cycle. The two curves shown represent total industry sales revenue and total industry profit. Typically what does the lower of the two curves represent?

Accepted Answer

A)  total variable costs
B)  total fixed costs
C)  total industry profit
D)  total industry sales revenue
E)  total research and development costsF) A) and D)
G) A) and E)

Question 10

When selecting a brand name, it should: (1)  suggest the product benefits; (2)  be memorable, distinctive, and positive; (3)  __________; (4)  have no legal or regulatory restrictions; (5)  be simple and emotional; and (6)  have favorable phonetic and semantic associations in other languages.

Accepted Answer

A)  never have a humorous connotation
B)  be easy to spell and pronounce
C)  fit the company or product image
D)  not be easily imitated
E)  be patentedF) B) and D)
G) C) and D)

Question 11

Despite the success of its Pentium chips, Intel faced a major threat from competitors such as AMD's K6 chips, which were cheaper and better placed to serve the emerging low-cost PC market. Intel wanted to protect the brand equity and price premium of its Pentium microprocessors, but it also wanted to avoid AMD gaining a foothold into the lower end of the market. So it created Celeron as a cheaper, less powerful version of its Pentium chips to serve this market. This is a notable example of a

Accepted Answer

A)  private brand.
B)  brand extension.
C)  subbrand.
D)  co-brand.
E)  fighting brand.F) A) and E)
G) None of the above

Question 12

Companies can choose from several different branding strategies. Companies such as Procter & Gamble, with its Tide, Cheer, and Ivory Snow laundry detergents, are using a __________ strategy.

Accepted Answer

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

Question 13

The four steps in building brand equity are: (1)  developing positive brand awareness and __________; (2)  establishing a brand's meaning in the minds of consumers; (3)  eliciting the proper consumer responses to a brand's identity and meaning; and (4)  creating an intense, active, and loyal consumer-brand connection.

Accepted Answer

A)  an association of the brand in consumers' minds with a product class or need to give the brand an identity
B)  lowering the price of products
C)  easing consumers' decision making
D)  incorporating higher value in products
E)  creating market modificationF) A) and B)
G) All of the above

Question 14

Every product manufactured by the maker of Slim-Fast carries the Slim-Fast brand name. This company uses

Accepted Answer

A)  multibranding.
B)  uniform branding.
C)  co-branding.
D)  corporate branding.
E)  agent licensing.F) A) and C)
G) C) and E)

Question 15

Bayer Aspirin is sold in the original strength, in a safety-coated version, in an extra-strength version, and in a version designed especially for women. Bayer is using a __________ strategy.

Accepted Answer

A)  product item expansion
B)  subbranding
C)  product line extension
D)  co-branding
E)  brand extensionF) B) and E)
G) A) and E)

Question 16

The largest numbers of product adopters with respect to the diffusion of innovation are found among

Accepted Answer

A)  innovators and laggards.
B)  early majority and late majority.
C)  late majority and laggards.
D)  innovators and early majority.
E)  innovators and early adopters.F) A) and D)
G) A) and C)

Question 17

If a customer is reluctant to try a new product because he'd have to change his normal everyday behaviors, the company is most likely facing a __________ barrier.

Accepted Answer

A)  usage
B)  risk
C)  value
D)  financial
E)  psychologicalF) A) and B)
G) A) and C)

Question 18

To help differentiate a company's brand from competitors, an improved version is created or new features are added to the original design, and product proliferation occurs in the __________ stage of the product life cycle.

Accepted Answer

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

Question 19

The swoosh that appears on every Nike product is an example of a

Accepted Answer

A)  copyright.
B)  trade name.
C)  trademark.
D)  brand name.
E)  label.F) B) and E)
G) A) and D)

Question 20

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 multibranding 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) A) and D)
G) A) and C)

Exam 11: Managing Successful Products Services and Brands

Correct Answer
verified

Which stage in the product life cycle is characterized by a slowing of total industry sales or product class revenue?

Correct Answer
verified

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

Correct Answer
verified

Every product manufactured by the maker of Slim-Fast carries the Slim-Fast brand name. This company uses

Correct Answer
verified

Usually two curves are shown in a figure that represents the stages of the product life cycle. The two curves shown represent total industry sales revenue and total industry profit. Typically what does the lower of the two curves represent?

Correct Answer
verified

The swoosh that appears on every Nike product is an example of a

Correct Answer
verified

If a customer is reluctant to try a new product because he'd have to change his normal everyday behaviors, the company is most likely facing a __________ barrier.

Correct Answer
verified

Companies can choose from several different branding strategies. Companies such as Procter & Gamble, with its Tide, Cheer, and Ivory Snow laundry detergents, are using a __________ strategy.

Correct Answer
verified

Correct Answer
verified

Brand equity provides a financial advantage for a brand's owner because successful, established brand names have an economic value in the sense that they are

Correct Answer
verified

The largest numbers of product adopters with respect to the diffusion of innovation are found among

Correct Answer
verified

To help differentiate a company's brand from competitors, an improved version is created or new features are added to the original design, and product proliferation occurs in the __________ stage of the product life cycle.

Correct Answer
verified

An integral part of the package that typically identifies the product or brand, who made it, where and when it was made, how it is to be used, and package contents and ingredients is referred to as

Correct Answer
verified

When selecting a brand name, it should: (1) suggest the product benefits; (2) be memorable, distinctive, and positive; (3) __________; (4) have no legal or regulatory restrictions; (5) be simple and emotional; and (6) have favorable phonetic and semantic associations in other languages.

Correct Answer
verified

When selecting a brand name, it should: (1) __________; (2) be memorable, distinctive, and positive; (3) fit the company or product image; (4) have no legal or regulatory restrictions; (5) be simple and emotional; and (6) have favorable phonetic and semantic associations in other languages.

Correct Answer
verified

Pez was originally sold in Europe as an adult

Correct Answer
verified

At which stage of the product life cycle is a company likely to have its most complete product line?

Correct Answer
verified

Multiproduct branding refers to a branding strategy

Correct Answer
verified

Bayer Aspirin is sold in the original strength, in a safety-coated version, in an extra-strength version, and in a version designed especially for women. Bayer is using a __________ strategy.

Correct Answer
verified

The formula __________ is used to calculate CDI.

Correct Answer
verified

Exam 11: Managing Successful Products Services and Brands

Correct AnswerverifiedShow Answer

Which stage in the product life cycle is characterized by a slowing of total industry sales or product class revenue?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Every product manufactured by the maker of Slim-Fast carries the Slim-Fast brand name. This company uses

Correct AnswerverifiedShow Answer

Usually two curves are shown in a figure that represents the stages of the product life cycle. The two curves shown represent total industry sales revenue and total industry profit. Typically what does the lower of the two curves represent?

Correct AnswerverifiedShow Answer

The swoosh that appears on every Nike product is an example of a

Correct AnswerverifiedShow Answer

If a customer is reluctant to try a new product because he'd have to change his normal everyday behaviors, the company is most likely facing a __________ barrier.

Correct AnswerverifiedShow Answer

Companies can choose from several different branding strategies. Companies such as Procter & Gamble, with its Tide, Cheer, and Ivory Snow laundry detergents, are using a __________ strategy.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Brand equity provides a financial advantage for a brand's owner because successful, established brand names have an economic value in the sense that they are

Correct AnswerverifiedShow Answer

The largest numbers of product adopters with respect to the diffusion of innovation are found among

Correct AnswerverifiedShow Answer

To help differentiate a company's brand from competitors, an improved version is created or new features are added to the original design, and product proliferation occurs in the __________ stage of the product life cycle.

Correct AnswerverifiedShow Answer

An integral part of the package that typically identifies the product or brand, who made it, where and when it was made, how it is to be used, and package contents and ingredients is referred to as

Correct AnswerverifiedShow Answer

When selecting a brand name, it should: (1) suggest the product benefits; (2) be memorable, distinctive, and positive; (3) __________; (4) have no legal or regulatory restrictions; (5) be simple and emotional; and (6) have favorable phonetic and semantic associations in other languages.

Correct AnswerverifiedShow Answer

When selecting a brand name, it should: (1) __________; (2) be memorable, distinctive, and positive; (3) fit the company or product image; (4) have no legal or regulatory restrictions; (5) be simple and emotional; and (6) have favorable phonetic and semantic associations in other languages.

Correct AnswerverifiedShow Answer

Pez was originally sold in Europe as an adult

Correct AnswerverifiedShow Answer

At which stage of the product life cycle is a company likely to have its most complete product line?

Correct AnswerverifiedShow Answer

Multiproduct branding refers to a branding strategy

Correct AnswerverifiedShow Answer

Bayer Aspirin is sold in the original strength, in a safety-coated version, in an extra-strength version, and in a version designed especially for women. Bayer is using a __________ strategy.

Correct AnswerverifiedShow Answer

The formula __________ is used to calculate CDI.

Correct AnswerverifiedShow Answer

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