Question 1

Xerox pioneered the first portable fax machine. In 1980, the price was a hefty $12,700. Xerox used ________ pricing strategy to help recover its research and development costs.

Accepted Answer

A)   a penetration
B)   a cost-plus
C)   a skimming
D)   a target ROI
E)   an above-marketF) A) and B)
G) C) and E)

Question 2

DiGiorno rising crust pizza has been available in the freezer sections of supermarkets for quite a while. The product's recent introduction of a DiGiorno cheese-stuffed crust to its line of pizzas is an example of

Accepted Answer

A)   a market-product grid.
B)   diversification.
C)   market modification.
D)   product class extension.
E)   product modification.F) B) and C)
G) C) and D)

Question 3

Figure 10-1
-Figure 10-1 above represents the stages of the product life cycle. What does the section of the graph labeled A represent?

Accepted Answer

A)   introduction
B)   maturity
C)   growth
D)   stability
E)   declineF) B) and E)
G) None of the above

Question 4

At the maturity stage of the product life cycle, marketing emphasis

Accepted Answer

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

Question 5

As product adopters, innovators

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, higher educated, and use multiple information sources.F) C) and D)
G) A) and E)

Question 6

Any container in which a product is offered for sale and on which information is communicated is referred to as

Accepted Answer

A)   a point-of-purchase display.
B)   merchandising.
C)   packaging.
D)   a label.
E)   a product bundle.F) C) and D)
G) A) and D)

Question 7

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) B) and E)
G) A) and E)

Question 8

In 1984, IBM launched the "PCjr," its first low-priced, educational/home personal computer. Sales were poor because IBM most likely violated which criterion of picking a good brand name?

Accepted Answer

A)   The name was not distinctive nor memorable.
B)   The name did not fit the company image.
C)   The name had too many legal restrictions.
D)   The name was too confusing with both capital and lowercase letters.
E)   The name failed to suggest the product benefits.F) C) and E)
G) A) and C)

Question 9

Which of the following statements about Gatorade is most accurate?

Accepted Answer

A)   The name Gatorade was chosen because as an energy drink it "got you out the gate-fast."
B)   The name Gatorade was coined by a team who lost to the University of Florida Gators, attributing the Gator win to the "aid" it got from the rehydrating beverage.
C)   The green color of the original lemon-lime Gatorade was based on Florida's state animal, the alligator.
D)   Gatorade was developed by PepsiCo as a cause-marketing project to provide resources for women's sports at the University of Florida as a result of the passage of Title IX in 1972.
E)   Gatorade is the only sports drink marketer that doesn't use sports celebrities to endorse its products.F) B) and E)
G) C) and D)

Question 10

Northland Juices, a division of New York-based Apple & Eve, competes with Ocean Spray in the cranberry juice category. To be successful, Northland must create ________ demand in order to be selected over competitors.

Accepted Answer

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

Question 11

What role does price play in the managing of services?

Accepted Answer

Pricing plays two roles in managing serv...

Question 12

In the seven Ps of services marketing, process involves not only "what" is created but also

Accepted Answer

A)   "if" it is created.
B)   "how" it is created.
C)   "when" it is created.
D)   "for whom" it is created.
E)   "why" it is created.F) A) and B)
G) All of the above

Question 13

Figure 10-7
-Companies can employ several different branding strategies. In Figure 10-7 above, Box A represents a ________ strategy.

Accepted Answer

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

Question 14

A strategy of dropping a product from the product line during the decline stage of the product life cycle is referred to as

Accepted Answer

A)   trimming.
B)   elimination.
C)   paring down.
D)   deletion
E)   harvesting.F) A) and D)
G) A) and E)

Question 15

Which of the following statements regarding labels is most accurate?

Accepted Answer

A)   Although labels are can carry useful information, the less information communicated, the better.
B)   The brand logo or brand name should always be the largest image on a label.
C)   Labels can be very expensive, and they are important because they often are the first contact the consumer has with the product.
D)   The best labels to use on food products are those that can be easily removed to promote recycling of the package.
E)   One penny for every dollar consumers spend on products goes toward packaging and labeling costs.F) A) and B)
G) A) and E)

Question 16

Which of the following is an example of a product in the decline stage of the product life cycle?

Accepted Answer

A)   analog TVs
B)   smartphones
C)   3D printers
D)   health insurance
E)   tablet devicesF) C) and D)
G) A) and E)

Question 17

According to the concept of the diffusion of innovation, consumers who are leaders in social settings, and have slightly above average education are called

Accepted Answer

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

Question 18

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, is referred to as a

Accepted Answer

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

Question 19

For any product to be successful, it must be purchased by

Accepted Answer

A)   early adopters and laggards.
B)   early majority and late majority.
C)   late majority and laggards.
D)   innovators and early majority.
E)   innovators and early adopters.F) B) and E)
G) None of the above

Question 20

Capacity management refers to

Accepted Answer

A)   integrating the service component of the marketing mix with efforts to influence consumer demand.
B)   when the service provider is available but there is no demand.
C)   charging different prices during different times of the day or during different days of the week to reflect variations in demand for the service.
D)   the practice of changing prices for services in real time in response to supply and demand conditions.
E)   the operating cost per hour per employee or technology subtracted from the revenue generated by each full-time employee equivalent.F) D) and E)
G) B) and D)

Exam 10: Managing Successful Products, Services, and Brands

Which of the following is an example of a product in the decline stage of the product life cycle?

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For any product to be successful, it must be purchased by

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In 1984, IBM launched the "PCjr," its first low-priced, educational/home personal computer. Sales were poor because IBM most likely violated which criterion of picking a good brand name?

Correct AnswerverifiedShow Answer

Northland Juices, a division of New York-based Apple & Eve, competes with Ocean Spray in the cranberry juice category. To be successful, Northland must create ________ demand in order to be selected over competitors.

Correct AnswerverifiedShow Answer

Any container in which a product is offered for sale and on which information is communicated is referred to as

Correct AnswerverifiedShow Answer

Figure 10-7 -Companies can employ several different branding strategies. In Figure 10-7 above, Box A represents a ________ strategy.

Correct AnswerverifiedShow Answer

Figure 10-1 -Figure 10-1 above represents the stages of the product life cycle. What does the section of the graph labeled A represent?

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Which of the following statements about Gatorade is most accurate?

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

Correct AnswerverifiedShow Answer

Capacity management refers to

Correct AnswerverifiedShow Answer

According to the concept of the diffusion of innovation, consumers who are leaders in social settings, and have slightly above average education are called

Correct AnswerverifiedShow Answer

Which of the following statements regarding labels is most accurate?

Correct AnswerverifiedShow Answer

What role does price play in the managing of services?

Correct AnswerverifiedPricing plays two roles in managing serv...View AnswerShow Answer

At the maturity stage of the product life cycle, marketing emphasis

Correct AnswerverifiedShow Answer

In the seven Ps of services marketing, process involves not only "what" is created but also

Correct AnswerverifiedShow Answer

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, is referred to as a

Correct AnswerverifiedShow Answer

A strategy of dropping a product from the product line during the decline stage of the product life cycle is referred to as

Correct AnswerverifiedShow Answer

Xerox pioneered the first portable fax machine. In 1980, the price was a hefty $12,700. Xerox used ________ pricing strategy to help recover its research and development costs.

Correct AnswerverifiedShow Answer

DiGiorno rising crust pizza has been available in the freezer sections of supermarkets for quite a while. The product's recent introduction of a DiGiorno cheese-stuffed crust to its line of pizzas is an example of

Correct AnswerverifiedShow Answer

As product adopters, innovators

Correct AnswerverifiedShow Answer

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Pricing plays two roles in managing serv...
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