Question 1

Which of the following accurately describes a product category manager?

Accepted Answer

A product category manager is responsible for managing the product mix within a general product category, which includes adding new product lines and coordinating the mix of existing ones. They are not necessarily focused on branding or sales, although those may be components of their role depending on the company.

Question 2

Which of the following is most useful when a firm offers a variety of products that serve the needs of a wide range of customers?

Accepted Answer

The market manager structure is most useful when a firm offers a variety of products that serve the needs of a wide range of customers because it focuses on serving the needs of specific customer groups or markets, allowing for tailored marketing strategies that can address the diverse needs of different customer segments effectively.

Question 3

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

Accepted Answer

Upward line stretch involves the introduction of a higher-priced product in the existing product line. This is exactly what the winery did by introducing a new wine priced twice as high as its other wines.

Question 4

Firms interested in using socially responsible packaging that is less harmful to the environment are developing ________.

Accepted Answer

Green packaging refers to packaging materials and methods that have minimal impact on both the environment and human health. It is a socially responsible approach that can help reduce waste, conserve resources, and improve sustainability of the supply chain.

Question 5

Creative people with entrepreneurial skills are the best match for which of the following?

Accepted Answer

Creative people with entrepreneurial skills are best suited for a role on a venture team, where they can contribute innovative ideas, take calculated risks, and help bring a new product or service to market. They may not necessarily have the skills or interest in sales management, market management, product management, or information management.

Question 6

In small firms,the marketing function is usually handled by a ________ who is responsible for new-product planning,advertising,working with the company's sales representatives,and marketing research.

Accepted Answer

In small firms, it is common to have a single marketing manager who handles all the marketing functions like new-product planning, advertising, sales representatives, and marketing research. This is because small firms usually have limited resources and cannot afford to have multiple managers for different functions. Therefore, a single marketing manager is responsible for ensuring that all marketing activities are carried out effectively.

Question 7

Active Beverages targets the same people who watch the Gravity Games and enjoy skateboarding,in-line skating,mountain biking,and other extreme sports.It makes high-energy drinks for this target market.It does not attempt to make any drinks that are not targeted to this market.Active uses a(n)________.

Accepted Answer

Active Beverages uses a limited-line strategy, which focuses on one or a few product lines and targets them to a specific market segment. In this case, the target market is people who enjoy extreme sports, and the product line is high-energy drinks. The company does not attempt to make any drinks that are not targeted to this market, indicating a limited-line strategy.

Question 8

The term skunk works is associated with which of the following?

Accepted Answer

Skunk works refers to a team or department within an organization that is given a high degree of autonomy and freedom to work on a specific project or goal, often with a focus on innovation and creativity. Venture teams are similar in nature, with a focus on developing new business opportunities or products. Total quality management (TQM), Six Sigma, product category teams, and cross-functional teams are not directly related to skunk works.

Question 9

________ are responsible for the positioning of a brand and developing its brand equity.They are likely to team with sales,finance,and logistics staff members as part of customer business teams who work with major retail accounts.

Accepted Answer

Brand managers are responsible for the positioning of a brand and developing its brand equity. They are also likely to work with sales, finance, and logistics staff members as part of customer business teams who work with major retail accounts. Product category managers are responsible for managing a specific product category, venture team managers oversee new business ventures, market managers oversee a particular market, and sales managers focus on managing and leading a sales team.

Question 10

Which of the following is NOT required by the U.S.Food and Drug Administration (FDA)on the labels of most foods sold in the United States?

Accepted Answer

While most ingredients must be listed on food labels, the source of those ingredients is not required by the FDA.

Question 11

Within the market manager structure,managers focus on ________.

Accepted Answer

Within the market manager structure, managers focus on specific customer groups rather than specific products. This allows them to better understand the needs and preferences of their target market and tailor their marketing strategies accordingly.

Question 12

Venture teams focus exclusively on which of the following?

Accepted Answer

Venture teams are typically formed to focus on the development of a new product or service, which has the potential to disrupt the market and create significant growth opportunities. Therefore, the best choice is D, the development of a new product.

Question 13

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

Accepted Answer

Brand management systems often prioritize short-term sales gains over long-term brand building. This can lead to a focus on tactics like frequent promotions or discounts, rather than investing in building strong brand equity that will benefit the company in the long run.

Question 14

Which of the following controls package communications and labeling in the United States?

Accepted Answer

The Federal Fair Packaging and Labeling Act controls package communications and labeling in the United States. The FDA and the Nutrition Labeling and Education Act are related to food labeling but not specifically packaging. The Nutrition Facts Panel is a mandatory part of food labeling but does not address packaging. The Consumer Bill of Rights addresses broader consumer protections.

Question 15

A firm's skunk works department would most likely be located ________.

Accepted Answer

Skunk works departments are typically located away from a company's traditional offices, often in a separate facility or even off-site altogether. This is done in order to give the team more freedom to focus on innovative and experimental projects without the distractions and bureaucracy of the main office.

Question 16

Mercedes was able to successfully introduce its C-Class car at $30,000 without injuring its ability to sell other Mercedes cars for $100,000 or more.Mercedes implemented a(n)________.

Accepted Answer

The answer of Mercedes was able to successfully introduce its...

Question 17

When large companies undertake new-product development,they typically enlist specialists in different areas to create a ________ within the organization.

Accepted Answer

The answer of When large companies undertake new-product development,they typically...

Question 18

In addition to regular Alka-Seltzer,there is an Alka Seltzer product for each of the following: cold sufferers,people with upset stomachs,people who can't sleep,people with allergies,and people who have a severe headache.The manufacturer of Alka-Seltzer is using a(n)________ to reach as many different target markets as possible.

Accepted Answer

A full line strategy is when a company offers a variety of products to meet the needs of different target markets. In this case, the manufacturer of Alka-Seltzer is offering different products to specifically target people with different health concerns. This allows them to reach as many different target markets as possible.

Question 19

Which of the following is true about a brand manager and a product category manager?

Accepted Answer

Brand managers and product category managers are two different roles in a company. Brand managers are responsible for the overall brand strategy, including advertising, promotion, and brand awareness. On the other hand, product category managers are responsible for managing a specific line of products within a company. They handle product development, pricing, and distribution. Both roles can exist in both small and large companies, but it is more common to find them in larger firms with multiple product lines or brands. Financial decisions are part of their responsibilities, but they also consider new product lines and market trends to drive growth within their assigned category or brand.

Question 20

John Deere,Inc.introduced a lower-priced line of lawn-tractors called Senber while still selling its more expensive tractors under the John Deere,Inc.brand.This is an example of ________.

Accepted Answer

A downward line stretch involves introducing a lower-priced product line while still selling the existing more expensive product line, which is exactly what John Deere, Inc. did with the introduction of the Senber line of lawn-tractors.

Quiz 9: Manage the Product