Question 1

Which of the following is necessary for a brand to be effective?

Accepted Answer

A brand that is easy to pronounce is more memorable and can be easily shared by word of mouth. An ambiguous name or jargon-filled name can confuse customers and turn them away. A generic word may not stand out among competitors.

Question 2

When Kroger's grocery store puts its own line of detergent on the shelf next to Tide,the store is promoting its _____ brand.

Accepted Answer

Private brand refers to a product that is manufactured and sold by a retailer under its own brand name, rather than under the name of a manufacturer. In this case, Kroger is promoting its own line of detergent, so it is a private brand.

Question 3

Viola is developing a new product and is working with specialists from her organization to eliminate ideas that cannot be developed within the company's resources.Viola is in what stage of product development?

Accepted Answer

Viola is in the screening stage, which involves evaluating and eliminating ideas that are not feasible or do not align with the company's resources and capabilities. Test marketing is a later stage where the product is introduced to the market on a limited scale to assess its potential success. Product development is the stage where the actual product is designed and created. Commercialization is the final stage where the product is launched and marketed to the public.

Question 4

Which of the following is a reason why some companies skip test marketing?

Accepted Answer

Test marketing can alert competitors about a company's strategies, which may give them a chance to prepare and respond with counter strategies. Thus, some companies may choose to skip test marketing to keep their strategies and product launch plans confidential.

Question 5

Paul works for Kahl Inc. ,an electronic goods manufacturer,and is producing a new washer/dryer unit.He is collaborating with the marketing staff to arrange for a series of designs,tests,and functioning prototypes.Paul is working in which stage of new-product development?

Accepted Answer

Paul is working on designs, tests, and prototypes for a new product, indicating that he is in the product development stage of new product development.

Question 6

Which of the following is a benefit of family branding?

Accepted Answer

The benefit of family branding is that when a new product is introduced, consumers and retailers recognize the brand name, which can help with sales and brand loyalty. Options A, B, and C describe strategies that are not associated with family branding.

Question 7

Dole Food Company uses a(n)_____ brand to market the company's entire line of food products,including canned fruits,and packaged salads.

Accepted Answer

Dole Food Company uses a family brand to market all of their food products, including canned fruits and packaged salads. This means they use their company name, Dole, as the main branding for all their products.

Question 8

While marketing a new wireless phone,Levine Corp.decided to skip the _____ stage of product development due to the expense of developing a limited production run,as well as concern over revealing product strategies to the competition.

Accepted Answer

Skipping the test marketing stage means that the company is not producing a limited production run and therefore saving on expenses. It also means that they do not have to reveal their product strategies to the competition as test marketing involves releasing the product to a select group of consumers for testing and feedback.

Question 9

Ruth is assessing a new product's potential sales and competitive strengths and will obtain initial consumer reaction before the product is sold.Ruth is in what stage of product development?

Accepted Answer

The answer of Ruth is assessing a new product's potential...

Question 10

Gerard wants a particular brand of golf ball,but his local pro shop does not have it.Instead of buying a substitute,Gerard goes home and orders his preferred brand online.Gerard is at which stage of brand loyalty?

Accepted Answer

Gerard is willing to go out of his way to purchase his preferred brand, even if it means ordering online. This shows a high level of loyalty and insistence towards the brand.

Question 11

Advertising slogans,such as "Just Do It" or "Obey Your Thirst," are _____ that are given legal protection solely to the brand's owner.

Accepted Answer

Advertising slogans are known as trademarks, which are legally protected under intellectual property law to prevent others from using them without permission.

Question 12

Cooper Inc.has been involved in intensive price competition with one of its products.Profits are low and market researchers are concerned that losses will soon occur due to a reduced market for the item.This product has reached the _____ stage of the product life cycle.

Accepted Answer

The given scenario indicates that the product is facing a reduction in demand due to intense price competition, resulting in low profits and potential losses. These are typical characteristics of products in the decline stage of the product life cycle, where sales and profitability decrease as the market becomes saturated and consumers shift to newer products or alternatives.

Question 13

A brand that has been given legal protection is known as a _____.

Accepted Answer

A trademark is a symbol, name, word, or design that represents a business or product and is legally protected. It distinguishes the products or services of one company from those of another. Patents protect inventions, copyright protects original creative works, and royalties are payments made for the use of a copyrighted work.

Question 14

Mercedes-Benz is an example of a company that benefits from the added value of its successful name.This brand _____ can result in financial gain due to large market shares and less price sensitivity.

Accepted Answer

The added value of the successful name is generally referred to as brand equity. It includes brand recognition, awareness, and association. Hence, option C (equity) is the correct answer.

Question 15

E-readers were introduced with great success.Additional companies have entered the market and sales have continued steadily.E-readers are an example of a product in the _____ stage of the product life cycle.

Accepted Answer

E-readers have already been introduced and have gained successful momentum. The fact that additional companies have entered the market and sales have continued steadily are indicative of the growth stage of the product life cycle.

Question 16

Procter & Gamble markets laundry soap with the brand names of Tide,Cheer,and Dash.Each brand targets a specific market segment.Procter & Gamble is using _____ branding.

Accepted Answer

Procter & Gamble is using individual branding strategy by giving each product a distinct name (Tide, Cheer, Dash) to target different market segments, rather than grouping them under a single brand name or selling them as generic products.

Question 17

A company that is a pioneer in bionics has developed prosthetic limbs that can respond to commands from the brain.They bring in potential recipients in order to make sure that the prostheses are functioning well with different injury types.Which of the following stages of product development does this scenario represent?

Accepted Answer

Focus group testing involves bringing in a small group of potential users to gather feedback on the product, which is what the company is doing by testing the prosthetic limbs with potential recipients to ensure functionality across different injury types.

Question 18

Novacom,which was previously well known for its desktop computers,finds that two of its competitors have withdrawn from the market because of the introduction of affordable laptops in the market.This allows Novacom to garner minor profits.In which of the following stages of the product life cycle is Novacom's product?

Accepted Answer

The withdrawal of competitors and minor profits suggest that the product is in the decline stage, where market saturation and new technologies lead to reduced demand for desktop computers.

Question 19

Julie stops at the grocery store to purchase detergent.Tide is her favorite brand,but if another detergent is less expensive,she buys it.This is an example of _____.

Accepted Answer

Julie has a preference for Tide, but is willing to switch to a cheaper alternative, indicating that she has brand preference rather than brand recognition, awareness, or insistence.

Question 20

Which of the following is inconsistent with a product in its decline stage?

Accepted Answer

In the decline stage, prices may lower due to decreased demand, but they do not necessarily decline sharply. This choice is inconsistent because it suggests a rapid decrease in price, which is more characteristic of a market responding to immediate issues rather than the gradual decline phase of a product lifecycle.

Quiz 12: Product and Distribution Strategies