Question 1

The time a product can be stored before it spoils is referred to as its

Accepted Answer

Shelf life refers to the duration a product can be stored before it spoils or becomes unsuitable for use.

Question 2

Describe the decline stage of the product life cycle. Explain the two strategies a company might employ if its product were in the decline stage of its product life cycle.

Accepted Answer

The answer of Describe the decline stage of the product...

Question 3

An early breakthrough for Justin's was offering its nut butter product in squeeze packs, a low risk to try and very convenient. The packaging in this case mostly likely offers which type of benefits?

Accepted Answer

The squeeze packs provide functional benefits by making the nut butter easy to use and convenient to carry, enhancing the product's usability.

Question 4

Though Justin's is most known for its nut butters and peanut butter cups, it has also released a cookbook titled Justin My Kitchen. The cookbook is an example of ________ for Justin's.

Accepted Answer

A brand extension occurs when a company uses its established brand name to launch a product in a different category, which is what Justin's did by releasing a cookbook.

Question 5

Describe a brand name and give an example of a logo.

Accepted Answer

The answer of Describe a brand name and give an...

Question 6

Justin's nut butter packaging includes a label with the number of grams of protein it offers on the front, as well as complete nutritional facts on the back. The packaging in this case mostly likely offers which type of benefits?

Accepted Answer

The packaging provides communication benefits by informing consumers about the nutritional content, including protein grams, which helps them make informed purchasing decisions.

Question 7

Justin's is the ________ for a nut butter created by Justin Gold and now owned by Hormel.

Accepted Answer

Justin's is the brand name for the nut butter created by Justin Gold, which is now owned by Hormel.

Question 8

Explain the difference between primary demand and selective demand.

Accepted Answer

The answer of Explain the difference between primary demand and...

Question 9

Hormel owns a variety of brands, including Jennie-O, Muscle Milk, Skippy, and Justin's. For these brands, Hormel uses a ________ strategy.

Accepted Answer

Hormel uses a multibranding strategy, where it markets multiple brands in the same product category, such as Jennie-O, Muscle Milk, Skippy, and Justin's, each targeting different consumer segments.

Question 10

How long is a product life cycle? What determines its length?

Accepted Answer

The answer of How long is a product life cycle?...

Question 11

The environmental challenges of packaging and labeling are often global in nature. These include all of these except which?

Accepted Answer

Defective products are not directly related to the environmental challenges of packaging and labeling, which focus on waste management and material composition.

Question 12

Skippy, a peanut butter brand like Justin's, both owned by Hormel, is in the ________ stage of the product life cycle, with marketing strategies that include creating PB Bites, finding new consumers through online channels, and positioning the product as a source of protein.

Accepted Answer

Skippy is in the maturity stage of the product life cycle, as indicated by strategies like product innovation (PB Bites), expanding consumer base through online channels, and repositioning the product, which are typical for maintaining market share and extending the product's life.

Question 13

The challenges of packaging and labeling are often global. One particular challenge facing global manufacturers involves

Accepted Answer

Global manufacturers face the challenge of addressing ongoing environmental concerns, as there is increasing pressure worldwide to reduce waste and use sustainable materials in packaging.

Question 14

A ________ at Justin's is responsible for a category such as nut butters or butter cups. He or she develops all elements of that brand, from the promotional strategy, to everyday pricing, to working with the sales team.

Accepted Answer

A brand manager is responsible for developing and managing all aspects of a specific brand, including promotional strategies, pricing, and collaboration with the sales team.

Question 15

Describe the concept of diffusion of innovation. Identify the category and incidence in the population for each product adopter.

Accepted Answer

The answer of Describe the concept of diffusion of innovation....

Question 16

Compare the three ways to manage a product through its product life cycle.

Accepted Answer

The answer of Compare the three ways to manage a...

Question 17

For more than 30 years, Starkist put 6.5 ounces of tuna into its regular-sized can. Today, Starkist puts only 6.125 ounces of tuna into the same-size can but charges the same price. Georgia-Pacific reduced the content of its Brawny paper towel six-roll pack by 20 percent without lowering the price. There are two sides to the ethical argument about this practice: that of consumer advocates and that of manufacturers. What is the practice called, and what is the basic position of each side?

Accepted Answer

The answer of For more than 30 years, Starkist put...

Question 18

Identify and describe the stages of the generalized product life cycle. For each stage, specify the marketing objective a firm should attempt to achieve.

Accepted Answer

The answer of Identify and describe the stages of the...

Question 19

Explain the difference between trading up and trading down when repositioning a product.

Accepted Answer

The answer of Explain the difference between trading up and...

Question 20

What are the five shapes that a product life cycle can take? For each type, describe (as an option, draw) its characteristics.

Accepted Answer

The answer of What are the five shapes that a...

Quiz 11: Managing Successful Products, Services, and Brands