Question 1

Which approach to measuring brand equity focuses on the ability of a brand to charge a higher price than the price charged by an unbranded equivalent?

Accepted Answer

A)   revenue premium metrics
B)   financial market metrics
C)   product-market outcomes metrics
D)   equity-identity metrics
E)   customer mind-set metricsF) B) and D)
G) A) and E)

Question 2

An alternative to a two-way stretch is ________, adding more items within the present range of the line.

Accepted Answer

A)   cobranding
B)   family branding
C)   a mixing strategy
D)   a filling-out strategy
E)   a contracting strategyF) A) and E)
G) B) and D)

Question 3

A winery introduced a brand of wine that is priced twice as high as its other wines. This is an example of product extension by a(n)  ________.

Accepted Answer

A)   downward product line stretch
B)   product mix
C)   cannibalization strategy
D)   upward product line stretch
E)   two-way product line stretchF) B) and E)
G) C) and D)

Question 4

Briefly explain what the U.S. Food and Drug Administration (FDA) requires on food labels and why.

Accepted Answer

The FDA requires marketers to provide a ...

Question 5

Which of the following is the symbol in the United States for legal registration of a trademark?

Accepted Answer

A)   ™
B)   ®
C)   ©
D)   ¶
E)   №F) B) and E)
G) D) and E)

Question 6

Within the market manager structure, managers focus on ________.

Accepted Answer

A)   specific customer groups rather than specific products
B)   specific products rather than specific customer groups
C)   one or two specific brands
D)   all company brands and all company customers
E)   new product development and marketingF) A) and B)
G) C) and D)

Question 7

Which of the following refers to a product's overall ability to satisfy customers' expectations?

Accepted Answer

A)   value proposition
B)   brand equity
C)   product precision
D)   brand meaning
E)   product qualityF) A) and B)
G) B) and C)

Question 8

What are the four "easy" tests brand designers use in selecting a good brand name? Choose a brand and explain how it passes these tests.

Accepted Answer

The four "easy" tests brand de...

Question 9

A company can stretch its product line either upward or downward, but not both directions.

Accepted Answer

A) True 
 B)False

Question 10

A manufacturer of a product in the decline stage of its product life cycle would be LEAST likely to do which of the following?

Accepted Answer

A)   continue producing the product for loyal users
B)   reduce the advertising budget for the product
C)   phase out production of the product
D)   advertise heavily without changing the product or its target market
E)   withdraw most marketing support for the product and rely on e-commerceF) A) and E)
G) B) and D)

Question 11

Which stage in the product life cycle is characterized by rapidly increasing sales and increasing profits?

Accepted Answer

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

Question 12

Kellogg's has marketed Special K cereal for a number of years to a loyal customer base. Its introduction of a new cereal called Special K with Red Berries is an example of a(n)  ________ strategy.

Accepted Answer

A)   cannibalization
B)   cobranding
C)   brand extension
D)   upward line stretch
E)   downward line stretchF) A) and E)
G) B) and C)

Question 13

Total quality management involves all employees, regardless of their function, in continuous quality improvement efforts.

Accepted Answer

A) True 
 B)False

Question 14

A ________ is a name, term, symbol, or other unique element of a product that identifies one firm's products and sets it apart from the competition.

Accepted Answer

A)   patent
B)   brand
C)   license
D)   position
E)   value propositionF) None of the above
G) A) and C)

Question 15

Over the past 100 years or so, Binney and Smith's Crayola crayons have become household staples in more than 80 countries around the world. The company occasionally tinkers with the product's marketing mix to maintain market share. Crayola crayons are in the ________ stage of the product life cycle.

Accepted Answer

A)   growth
B)   extension
C)   development
D)   maturity
E)   declineF) A) and B)
G) A) and C)

Question 16

Which of the following is NOT a desirable quality for a brand name?

Accepted Answer

A)   It should suggest something about the product's benefits.
B)   It should be easy to pronounce and remember.
C)   It should be a long word to get attention.
D)   It needs to fit legal requirements.
E)   It should make sense in the customer's culture.F) B) and D)
G) A) and E)

Question 17

Brand anthropomorphism can be an effective strategy for creating a brand personality.

Accepted Answer

A) True 
 B)False

Question 18

A buttery spread designed to help lower cholesterol levels is a product with a number of new competitors entering the market. This product is most likely in the introduction stage of its product life cycle.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is a disadvantage of the brand management system?

Accepted Answer

A)   a tendency to avoid price differentiation
B)   too much focus on the supplementary and complementary roles of all product lines
C)   a tendency to overemphasize short-term gains in sales
D)   an interdependent structure that can undermine personal responsibility
E)   too much focus on establishing brand equityF) C) and D)
G) A) and B)

Question 20

When creating product objectives, marketers should consider the long-term implications of product decisions.

Accepted Answer

A) True 
 B)False

Exam 9: Product Ii: Product Strategy, Branding, and Product Management

When creating product objectives, marketers should consider the long-term implications of product decisions.

Correct AnswerverifiedShow Answer

Which of the following is NOT a desirable quality for a brand name?

Correct AnswerverifiedShow Answer

Brand anthropomorphism can be an effective strategy for creating a brand personality.

Correct AnswerverifiedShow Answer

What are the four "easy" tests brand designers use in selecting a good brand name? Choose a brand and explain how it passes these tests.

Correct AnswerverifiedThe four "easy" tests brand de...View AnswerShow Answer

Kellogg's has marketed Special K cereal for a number of years to a loyal customer base. Its introduction of a new cereal called Special K with Red Berries is an example of a(n) ________ strategy.

Correct AnswerverifiedShow Answer

Which of the following is the symbol in the United States for legal registration of a trademark?

Correct AnswerverifiedShow Answer

An alternative to a two-way stretch is ________, adding more items within the present range of the line.

Correct AnswerverifiedShow Answer

Briefly explain what the U.S. Food and Drug Administration (FDA) requires on food labels and why.

Correct AnswerverifiedThe FDA requires marketers to provide a ...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Which of the following refers to a product's overall ability to satisfy customers' expectations?

Correct AnswerverifiedShow Answer

Within the market manager structure, managers focus on ________.

Correct AnswerverifiedShow Answer

A ________ is a name, term, symbol, or other unique element of a product that identifies one firm's products and sets it apart from the competition.

Correct AnswerverifiedShow Answer

Total quality management involves all employees, regardless of their function, in continuous quality improvement efforts.

Correct AnswerverifiedShow Answer

A manufacturer of a product in the decline stage of its product life cycle would be LEAST likely to do which of the following?

Correct AnswerverifiedShow Answer

A company can stretch its product line either upward or downward, but not both directions.

Correct AnswerverifiedShow Answer

Which stage in the product life cycle is characterized by rapidly increasing sales and increasing profits?

Correct AnswerverifiedShow Answer

Which of the following is a disadvantage of the brand management system?

Correct AnswerverifiedShow Answer

A winery introduced a brand of wine that is priced twice as high as its other wines. This is an example of product extension by a(n) ________.

Correct AnswerverifiedShow Answer

A buttery spread designed to help lower cholesterol levels is a product with a number of new competitors entering the market. This product is most likely in the introduction stage of its product life cycle.

Correct AnswerverifiedShow Answer

Which approach to measuring brand equity focuses on the ability of a brand to charge a higher price than the price charged by an unbranded equivalent?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The four "easy" tests brand de...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The FDA requires marketers to provide a ...
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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified