Question 1

Which of the following quotes from a new product adopter would signal the need for a firm to counteract a psychological barrier?

Accepted Answer

This quote signals a psychological barrier related to fear of negative consequences, in this case, developing acne. The firm might counteract this barrier by emphasizing the safety and effectiveness of the product or offering a money-back guarantee.

Question 2

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. The two indexes, CDI and BDI, stand for __________.

Accepted Answer

CDI stands for Category Development Index, which is used to measure the potential of a particular product category in a specific market. BDI stands for Brand Development Index, which is used to evaluate the strength of a brand within a specific market. Both indexes help managers to identify strong and weak market segments so that they can direct their marketing efforts towards the most lucrative areas.

Question 3

All of the following are responsibilities of a product or brand manager EXCEPT:

Accepted Answer

Developing and implementing strategies at the corporate level is typically the responsibility of upper-level management, such as the CEO or executive team. The product or brand manager's responsibilities are more focused on the specific products or brands they are managing.

Question 4

A manufacturer of a new all-natural-ingredient shampoo and conditioner puts free samples of the product in Sunday newspapers to __________.

Accepted Answer

The manufacturer is using the free samples to encourage product trial and adoption, which is a common marketing strategy to accelerate the adoption process and increase sales. This is not about simulating laggard usage or inhibiting the diffusion process; the goal is to promote the product and attract more customers. It is also not about erecting adoption barriers or circumventing the adoption cycle, as these concepts suggest a negative approach that would harm the brand's credibility and reputation. Therefore, choice C is the correct answer.

Question 5

Seventy-one percent of consumers consider __________ to be the best way to evaluate a new product.

Accepted Answer

Free samples allow consumers to try the product before committing to purchasing, giving them a firsthand experience to evaluate its quality and value. Demonstrations are also a possible choice, but they may not always provide consumers with the opportunity to fully evaluate a product. Press releases and celebrity endorsements are not direct ways for consumers to evaluate a product. Product diffusion may play a role in a consumer's decision-making process, but it is not a means of evaluating a new product.

Question 6

If a firm's marketing dashboard displays a BDI over 100 for a consumer packaged good, such as General Mills' Warm Delights Minis, this indicates which of the following?

Accepted Answer

A BDI (Brand Development Index) over 100 indicates sales in a particular market segment are higher than what would be expected based on the brand's overall sales. Therefore, a BDI over 100 for General Mills' Warm Delights Minis implies a strong brand position in a segment.

Question 7

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. The two indexes focus on __________.

Accepted Answer

The answer of Managers often use two special indexes to...

Question 8

A product manager is sometimes called a __________.

Accepted Answer

The answer of A product manager is sometimes called a...

Question 9

There are several reasons why a consumer would be reluctant to adopt a new product, including a psychological barrier, which occurs when __________.

Accepted Answer

A psychological barrier occurs when there are cultural differences or image problems, as these can affect a consumer's perception and acceptance of a new product.

Question 10

Warranties, money-back guarantees, extensive usage instructions, demonstrations, and free samples are all ways in which companies __________.

Accepted Answer

Warranties, money-back guarantees, extensive usage instructions, demonstrations, and free samples are all methods used by companies to try to overcome barriers to adoption. These barriers can include uncertainty about the product's benefits, skepticism about its performance, and lack of awareness or knowledge of the product. By providing these assurances and incentives, companies hope to encourage potential customers to try their product and ultimately adopt it.

Question 11

Consumer packaged goods firms like General Mills and PepsiCo and as well as industrial firms such as Intel and Hewlett-Packard employ a product manager to manage __________.

Accepted Answer

The answer of Consumer packaged goods firms like General Mills...

Question 12

All of the following marketing actions can be used by a firm to counteract barriers to product adoption EXCEPT:

Accepted Answer

Targeting new consumers may not necessarily counteract barriers to product adoption, as the barriers could be related to product features or benefits that are not appealing to any consumer segment. The other actions listed are more likely to address specific barriers to adoption, such as lack of familiarity or perceived risk.

Question 13

If a firm's marketing dashboard displays a BDI under 100 for a consumer packaged good, such as General Mills' Warm Delights Minis, this indicates which of the following?

Accepted Answer

The answer of If a firm's marketing dashboard displays a...

Question 14

One of the most popular means to gain consumer trial is through

Accepted Answer

Free samples are a popular means to gain consumer trial because it allows consumers to try a product before committing to purchasing it. This can increase the likelihood of them becoming loyal customers in the future. It also serves as a marketing strategy as the product is being handed out to potential customers, increasing brand awareness.

Question 15

If a firm's marketing dashboard displays a CDI over 100 for a consumer packaged good, such as General Mills' Warm Delights Minis, this indicates which of the following?

Accepted Answer

The answer of If a firm's marketing dashboard displays a...

Question 16

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these indexes is the CDI or __________.

Accepted Answer

The CDI or category development index is used to measure the potential of a particular product category in a specific geographic area. It is used to identify strong and weak market segments for targeted marketing efforts. The other indexes listed (consumer development index, competitive development index, channel development index, customization development index) are not commonly used to identify market segments.

Question 17

Managers often use two special indexes to help identify strong and weak market segments in order to provide direction for marketing efforts. One of these indexes is the BDI or __________.

Accepted Answer

The BDI stands for Brand Development Index. It is a measure of the sales performance of a particular brand in a specific market area. The index is calculated by dividing the percentage of a brand's sales in a market by the percentage of the total population in that same market. This comparison indicates the sales potential of a brand in a market area relative to the population in that area. The BDI is used to identify strong and weak market segments and to provide direction for marketing efforts.

Question 18

Warranties, money-back guarantees, extensive usage instructions, demonstrations, and free samples are all ways in which companies attempt to overcome barriers to product adoption during the __________ stage of a product's life cycle.

Accepted Answer

The introduction stage is when a new product is introduced to the market and consumers may have uncertainty or resistance towards trying it. Therefore, companies use various tactics to overcome this barrier to product adoption during this stage.

Question 19

If a firm's marketing dashboard displays a CDI under 100 for a consumer packaged good, such as General Mills' Warm Delights Minis, this indicates which of the following?

Accepted Answer

CDI stands for Category Development Index, which measures the sales performance of a specific product category in a certain market segment. A CDI under 100 indicates below-average product category purchases by a market segment, which could mean that the brand's performance is weak in comparison to its competitors in the same market segment. Therefore, option D is the best choice.

Question 20

Free samples are one of the most popular means to gain consumer trial. In fact, most consumers consider a sample to __________.

Accepted Answer

Most consumers consider a sample to be the best way to evaluate a new product, as it allows them to try the product before committing to a purchase.

Quiz 10: Managing Successful Products, Services, and Brands