Question 1

A standard 12-pack carton of soft drinks cannot fit conveniently on the standard-size refrigerator shelf, nor can drinks be efficiently dispensed from the carton. In 2002, Coca-Cola introduced a new design it calls the refrigerator pack. The refrigerator pack is designed to fit easily on a standard refrigerator shelf and dispense one can at a time. With its new refrigerator pack, Coke is

Accepted Answer

A)   implementing a private branding strategy.
B)   using packaging as a part of its product differentiation strategy.
C)   using a brand extension strategy for market development.
D)   implementing a consolidation strategy.

Question 2

Identify the correct statement regarding the classes of consumer goods.

Accepted Answer

A)   Packaging is extremely important for specialty goods.
B)   Length of the channel is typically long for specialty goods.
C)   Brand name is more important than store name for shopping goods.
D)   Convenience goods have a high stock turnover rate.

Question 3

The physical entity that is offered to the buyer is known as a(n)

Accepted Answer

A)   extended product.
B)   value product.
C)   tangible product.
D)   generic product.

Question 4

Convenience goods, shopping goods, and specialty goods are the three classes of

Accepted Answer

A)   agricultural goods.
B)   raw materials.
C)   organizational goods.
D)   consumer goods.

Question 5

This is the culmination of the consumer's assessment of the product, the company that manufactures and markets the product, and all other variables that impact on the product between manufacture and consumer consumption.

Accepted Answer

A)   Quality
B)   Brand equity
C)   Value
D)   Cash flow

Question 6

When a corporate name is attached to a product to enter into an entirely new market segment, for example, Honda lawnmower and Toyota Lexus, it would be an example of a

Accepted Answer

A)   multibranding strategy.
B)   franchise extension.
C)   dual branding strategy.
D)   line extension.

Question 7

_____ goods are purchased frequently with minimum effort.

Accepted Answer

A)   Convenience
B)   Specialty
C)   Shopping
D)   Organizational

Question 8

Which of the following statements regarding organizational goods is true?

Accepted Answer

A)   Organizational goods are usually purchased as an end in themselves.
B)   The channels of distribution for these goods are longer than those for consumer goods.
C)   Organizational goods include anything that businesses need for their day-to-day operation.
D)   A primary purchasing motive for organizational goods is convenience.

Question 9

What does it mean when you say the market for desktop computers is horizontal?

Accepted Answer

A)   Market for desktop computers is deep, in that a large percentage of the producers in the market use the product.
B)   Desktop computer market is narrow, because customers are restricted to a few industries.
C)   The desktop computers market has numerous middlemen.
D)   Desktop computers are purchased by all types of firms in many different industries.

Question 10

Identify the correct statement about organizational products.

Accepted Answer

A)   No middlemen are involved in the typically short channel for operating supplies.
B)   Price competition is important when selling or buying raw material.
C)   Brand preference is generally high when purchasing fabricating parts or materials.
D)   Advance buying contracts are commonly used when purchasing accessory equipment.

Question 11

Which of the following does not pertain to the marketing dimension of a product?

Accepted Answer

A)   Price
B)   Promotion strategy
C)   Channels of distribution
D)   Packaging

Question 12

As Alan strolled through a shopping center, he tried to apply what he had learnt in a marketing class to what he saw at the mall. Which of Alan's interpretations do you believe to be most accurate?

Accepted Answer

A)   The Tie Shop, which only sells ties, would have a wide product mix.
B)   The Dollar Tree, which sells everything from baby rattles and potting soil to contact lens cleaning solution, would have a narrow product mix and a deep assortment.
C)   The Christian Superstore, which sells hundreds of self-help books, novels, and music with a religious theme, has a narrow and deep product mix.
D)   Louie's Bakery, which sells thirty-six different kinds of muffins, would have a deep product mix.

Question 13

Identify the incorrect statement.

Accepted Answer

A)   Organizational products along with consumer products can also possess brand equity.
B)   Brand quality is viewed as the set of assets or liabilities linked to the brand that add or subtract value.
C)   Successful extensions of an existing brand can lead to additional loyalty and associated profits.
D)   Brand equity is determined by the company that manufactures and markets the product along with other variables.

Question 14

Products that are purchased by business firms for the purpose of producing other goods or services for running a business are called

Accepted Answer

A)   convenience goods.
B)   organizational goods.
C)   specialty goods.
D)   shopping goods.

Question 15

Which of the following statement about brand equity is true?

Accepted Answer

A)   Brand equity is what the customer gets in exchange for what the customer gives.
B)   Organizational products cannot have brand equity.
C)   Brand equity is not impacted by advertising.
D)   Brand equity is determined by the consumer.

Question 16

One of the elements of product strategy is an audit of a firm's actual and potential resources. The audit examines all of the following, except

Accepted Answer

A)   patents and licenses.
B)   engineering and technical skills.
C)   plant and equipment.
D)   complementary goods.

Question 17

Clothes Store sent a manager to visit the L.L.Bean warehouse to determine how the warehouse employees are able to pick and package merchandise three times as fast as Clothes Store's workers. By comparing the work performed by the warehouses' workers with the retailer's employees, Clothes Store was able to improve its own operation. Clothes Store engaged in

Accepted Answer

A)   capacity planning.
B)   product rejuvenation.
C)   benchmarking.
D)   product renewal.

Question 18

Why does a beer manufacturer like Heileman Distilleries produce Old Style, Colt 45, Lone Star, Rainier and Samuel Adams brand beers?

Accepted Answer

A)   To minimize the importance of brand equity.
B)   To enjoy the benefits associated with franchise extension.
C)   To create a competitive advantage that is not easily imitated.
D)   To target specific market segments more efficiently.

Question 19

Victor Boudolf has developed a new product called The Insider. It offers fans attending baseball games instant replays from various camera angles so they can see if their favorite player was really out. Boudolf is hoping he can sell The Insider to venue owners who can rent them to fans attending a baseball game for $20. Since this product is in the introductory stage of its product life cycle, Boudolf's primary marketing objective should be to

Accepted Answer

A)   build sales and market share for the product.
B)   limit costs and persuasion strategies to highlight product.
C)   establish a market for the product.
D)   defend the brand's share of market.

Question 20

Brand equity is

Accepted Answer

A)   the set of assets or liabilities linked to the brand that add or subtract value.
B)   not the culmination of the consumer's assessment of the product.
C)   the extension of an existing brand that can lead to additional profits.
D)   not dependent upon the results of the marketplace's relationship with a brand.

Exam 6: Product and Brand Strategy

Correct Answer
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Correct Answer
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Which of the following does not pertain to the marketing dimension of a product?

Correct Answer
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Why does a beer manufacturer like Heileman Distilleries produce Old Style, Colt 45, Lone Star, Rainier and Samuel Adams brand beers?

Correct Answer
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Correct Answer
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Brand equity is

Correct Answer
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The physical entity that is offered to the buyer is known as a(n)

Correct Answer
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As Alan strolled through a shopping center, he tried to apply what he had learnt in a marketing class to what he saw at the mall. Which of Alan's interpretations do you believe to be most accurate?

Correct Answer
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Identify the correct statement about organizational products.

Correct Answer
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Products that are purchased by business firms for the purpose of producing other goods or services for running a business are called

Correct Answer
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_____ goods are purchased frequently with minimum effort.

Correct Answer
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Convenience goods, shopping goods, and specialty goods are the three classes of

Correct Answer
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Which of the following statements regarding organizational goods is true?

Correct Answer
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This is the culmination of the consumer's assessment of the product, the company that manufactures and markets the product, and all other variables that impact on the product between manufacture and consumer consumption.

Correct Answer
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Identify the incorrect statement.

Correct Answer
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What does it mean when you say the market for desktop computers is horizontal?

Correct Answer
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Identify the correct statement regarding the classes of consumer goods.

Correct Answer
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One of the elements of product strategy is an audit of a firm's actual and potential resources. The audit examines all of the following, except

Correct Answer
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Which of the following statement about brand equity is true?

Correct Answer
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When a corporate name is attached to a product to enter into an entirely new market segment, for example, Honda lawnmower and Toyota Lexus, it would be an example of a

Correct Answer
verified

Exam 6: Product and Brand Strategy

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following does not pertain to the marketing dimension of a product?

Correct AnswerverifiedShow Answer

Why does a beer manufacturer like Heileman Distilleries produce Old Style, Colt 45, Lone Star, Rainier and Samuel Adams brand beers?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Brand equity is

Correct AnswerverifiedShow Answer

The physical entity that is offered to the buyer is known as a(n)

Correct AnswerverifiedShow Answer

As Alan strolled through a shopping center, he tried to apply what he had learnt in a marketing class to what he saw at the mall. Which of Alan's interpretations do you believe to be most accurate?

Correct AnswerverifiedShow Answer

Identify the correct statement about organizational products.

Correct AnswerverifiedShow Answer

Products that are purchased by business firms for the purpose of producing other goods or services for running a business are called

Correct AnswerverifiedShow Answer

_____ goods are purchased frequently with minimum effort.

Correct AnswerverifiedShow Answer

Convenience goods, shopping goods, and specialty goods are the three classes of

Correct AnswerverifiedShow Answer

Which of the following statements regarding organizational goods is true?

Correct AnswerverifiedShow Answer

This is the culmination of the consumer's assessment of the product, the company that manufactures and markets the product, and all other variables that impact on the product between manufacture and consumer consumption.

Correct AnswerverifiedShow Answer

Identify the incorrect statement.

Correct AnswerverifiedShow Answer

What does it mean when you say the market for desktop computers is horizontal?

Correct AnswerverifiedShow Answer

Identify the correct statement regarding the classes of consumer goods.

Correct AnswerverifiedShow Answer

One of the elements of product strategy is an audit of a firm's actual and potential resources. The audit examines all of the following, except

Correct AnswerverifiedShow Answer

Which of the following statement about brand equity is true?

Correct AnswerverifiedShow Answer

When a corporate name is attached to a product to enter into an entirely new market segment, for example, Honda lawnmower and Toyota Lexus, it would be an example of a

Correct AnswerverifiedShow Answer

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