Question 1

The formula to calculate a CDI = __________.

Accepted Answer

The answer of The formula to calculate a CDI =...

Question 2

All of the following are product modification strategies EXCEPT:

Accepted Answer

All of the other options (product bundling, improving quality, changing appearance, and altering performance) are product modification strategies. Creating a new use situation is a market modification strategy, not a product modification strategy.

Question 3

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

The introduction of a cheese-stuffed crust is an example of product modification, which involves changing one or more of a product's characteristics. In this case, the crust of the pizza has been modified to include cheese, adding a new feature to the product.

Question 4

All of the following are market modification strategies EXCEPT:

Accepted Answer

The answer of All of the following are market modification...

Question 5

When Proctor & Gamble revamped Pantene shampoo and conditioner with a new vitamin formula and relaunched the brand with a multimillion-dollar advertising and promotion campaign, what strategy did it use to manage the product through its life cycle?

Accepted Answer

The answer of When Proctor & Gamble revamped Pantene shampoo...

Question 6

The sale of two or more separate products in one package is referred to as

Accepted Answer

The sale of two or more separate products in one package is referred to as product bundling.

Question 7

Twenty years ago, the Mississippi Gulf Coast was a nice place to vacation with a white sandy beach, golfing opportunities, resort hotels, and good seafood restaurants. With the addition of casinos, the Gulf Coast improved its odds of being a tourist destination for more travelers. This is an example of a __________ strategy.

Accepted Answer

The answer of Twenty years ago, the Mississippi Gulf Coast...

Question 8

A strategy for managing a product's life cycle that attempts to find new customers, increase a product's use among existing customers, or create new use situations is referred to as __________.

Accepted Answer

The answer of A strategy for managing a product's life...

Question 9

Market modification refers to a marketing strategy that __________.

Accepted Answer

Market modification refers to managing a product's life cycle to find new customers, increase a product's use among existing customers, or create new use situations. This can include changes in packaging, pricing, distribution, and promotion to extend a product's life and appeal to different markets. Option A refers to product modification, while options C, D, and E refer to market segmentation and targeting strategies.

Question 10

Which of the following is a product modification strategy?

Accepted Answer

Improving a product's quality is a product modification strategy which involves enhancing the existing features of a product to meet customer expectations and needs. This can include modifying the product's design, ingredients, or performance to increase its value proposition and appeal to customers.

Question 11

Alka-Seltzer was originally made as a hangover remedy that cured a headache and settled the stomach. Today, you can purchase Original Alka-Seltzer, Extra Strength Alka-Seltzer, Alka-Seltzer Morning Relief (for morning headaches and fatigue), and Alka-Seltzer Heartburn Relief, each of which has slightly different ingredients to solve the problem identified in its respective brand name. To broaden the product line to increase sales to new target market segments, the makers of Alka-Seltzer used a __________ strategy.

Accepted Answer

Product modification involves changing the characteristics of an existing product to better meet the needs of a specific target market. In this case, the makers of Alka-Seltzer have modified their product to create different versions that address specific problems, such as headaches, fatigue, and heartburn.

Question 12

-In the CDI/BDI Marketing Dashboard above, which segment consumes the MOST fruit drinks?

Accepted Answer

The answer of 
-In the CDI/BDI Marketing Dashboard above, which...

Question 13

-If you were a marketing manager and were presented with the information in the CDI/BDI Marketing Dashboard above, you would determine that the __________ segment has the most opportunity for increasing Hawaiian Punch sales.

Accepted Answer

The answer of 
-If you were a marketing manager and...

Question 14

If Proctor and Gamble (P&G) were to package a Gillette Fusion ProGlide Razor with its Old Spice Pure Sport Anti-Perspirant & Deodorant, P&G would be engaged in __________.

Accepted Answer

Product bundling is the practice of marketing two or more products or services as a single combined offering in order to create a greater value for the customer. In this case, P&G is bundling its Gillette Fusion ProGlide Razor with its Old Spice Pure Sport Anti-Perspirant & Deodorant as a combined offering.

Question 15

-As shown in the CDI/BDI Marketing Dashboard above, a BDI of 30 is determined by __________.

Accepted Answer

BDI (Brand Development Index) is calculated by dividing the percent of a brand's sales in a specific segment by the percent of the population in that segment, then multiplying by 100.

Question 16

Product modification refers to a marketing strategy that __________.

Accepted Answer

Product modification involves changing a product's characteristic to increase its appeal to customers and drive sales. This could include improving its quality, performance, or appearance to make it more desirable.

Question 17

When Wendy's wants to increase the value of its Dave's Hot 'N Juicy cheeseburger to its customers, it combines complementary items (French fries and a soft drink) to expedite the ordering process, and provide a complete meal. This product modification approach is called __________.

Accepted Answer

The product modification approach described in the scenario is referred to as product bundling, which involves combining complementary products or services as a package deal to offer greater value or convenience to customers. BOGO deals typically involve buy one, get one free promotions, while product repositioning involves changing the target audience or market position of a product. Product differentiation refers to the unique features or attributes of a product that set it apart from competitors.

Question 18

-In the CDI/BDI Marketing Dashboard above, which segment consumes the LEAST amount of Hawaiian Punch?

Accepted Answer

Households without children typically consume the least amount of products like Hawaiian Punch, which are often targeted towards families with children.

Question 19

A marketing strategy that alters a product's characteristic, such as its quality, performance, or appearance, to increase its value and sales to customers is referred to as __________.

Accepted Answer

Product modification involves changing a product's characteristic to enhance its value to customers and increase sales. Market modification refers to changing the market for a product, such as targeting a new consumer group or expanding geographically. Product repositioning involves changing how a product is perceived in the market, often through changes in marketing or branding. Market-product synergy refers to aligning a company's product offerings with the needs and preferences of its target market. Product management involves overseeing a product's lifecycle from development to retirement.

Question 20

The formula to calculate a BDI = __________.

Accepted Answer

BDI (Brand Development Index) is calculated by dividing the percent of a brand's total U.S. sales in a market segment by the percent of the total U.S. population in that market segment, and then multiplying by 100. Therefore, option C is the correct formula for calculating BDI. Options A and B have the right components but are in the wrong order. Option E is not related to BDI.

Quiz 10: Managing Successful Products, Services, and Brands