Question 1

Compare and contrast a product manager and a brand manager.

Accepted Answer

A product manager is responsible for a product, a product line, or several distinct products that make up an interrelated group within a multiproduct organization. On the other hand, a brand manager is responsible for a single brand. Both product and brand managers operate cross-functionally to coordinate the activities, information, and strategies involved in marketing an assigned product. Product managers and brand managers plan marketing activities to achieve objectives by coordinating a mix of distribution, promotion (especially sales promotion and advertising), and price.

Question 2

What is concept testing, and why is it important?

Accepted Answer

In concept testing, a small sample of potential buyers is presented with a product idea through a written or oral description (and perhaps a few drawings) to determine their attitudes and initial buying intentions regarding a product. For a single product idea, an organization can test one or several concepts of the same product. Concept testing is important because it is a low-cost procedure that allows a company to determine customers' initial reactions to a product idea before it invests considerable resources in research and development.

Question 3

In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and
A) a modification should make the product more consistent with customers' desires.
B) competing companies should not be aware of planned product modifications.
C) a modification should change customers' desires to provide greater satisfaction.
D) management must perceive the modification as a reasonable and necessary action.
E) production costs and materials needed should be limited.

Accepted Answer

The third condition for product modification is that it should make the product more consistent with customers' desires, ensuring that the modification is aligned with customer preferences and needs. This is necessary for the modification to be perceived as valuable and worthwhile by the customers, resulting in increased sales and profits. The other options are either irrelevant or incorrect.

Question 4

What exactly is analyzed during the business analysis phase of new-product development?

Accepted Answer

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Question 5

In product modification, the first issue to consider is whether
A) existing customers can perceive that a product modification has been made.
B) the product is modifiable.
C) quality is modified.
D) modification will make the product more consistent with customers' desires.
E) modification will provide greater satisfaction to the consumer.

Accepted Answer

The first issue to consider in product modification is whether the product is modifiable, as this determines if changes can be implemented at all.

Question 6

Identify and explain the dimensions of product quality.

Accepted Answer

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Question 7

Why are line extensions more common than new products?
A) They are higher risk and more expensive.
B) They are guaranteed to succeed in the marketplace.
C) They are less expensive and lower-risk.
D) They require no market research.
E) Modifications to existing products are very easy.

Accepted Answer

Line extensions are less expensive and lower-risk than launching entirely new products. This is because they are built off of an established brand with a known audience and market, and require less market research and development than creating something entirely new.

Question 8

If the manufacturer of Cool Whip were to introduce a chocolate-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example of
A) a brand extension.
B) line extension.
C) functional modification.
D) quality modification.
E) a new-to-the-world product.

Accepted Answer

This is an example of a line extension because the company is introducing a new flavor within their current product line of Cool Whip. A brand extension would involve the company introducing a new product in a different product category, such as a chocolate-flavored cake mix. Functional modification involves making changes to the product's features or functions, while quality modification involves changes to the product's quality level. A new-to-the-world product is a completely new type of product that has never existed before.

Question 9

Why and how might an organization delete existing products?

Accepted Answer

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Question 10

Why do brands require repositioning? What are the ways in which repositioning can be accomplished?

Accepted Answer

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Question 11

Coca-Cola has expanded to Diet Coke, Cherry Coke, and Caffeine-free Coke, to name a few. These are examples of
A) product modifications.
B) functional modifications.
C) aesthetic modifications.
D) line extensions.
E) product lining.

Accepted Answer

The expansion of Coca-Cola's product line to include Diet Coke, Cherry Coke, and Caffeine-free Coke is an example of a line extension, which involves the development of new products within an existing product line. The modifications to the original Coke recipe are not significant enough to be considered product modifications, and do not primarily address issues of performance or quality (functional modifications). Nor do they significantly change any aesthetic qualities of the product (aesthetic modifications). Finally, while the introduction of new products creates a product mix, this does not help to explain the specific expansion of Coca-Cola's product line.

Question 12

List and discuss the major phases of the new-product development process.

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Question 13

Discuss the major approaches that marketers use to differentiate their products.

Accepted Answer

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Question 14

What is the primary distinction between a line extension and a product modification?
A) A product modification results in a completely new product while a line extension is simply changing an old product.
B) In both cases an existing product is altered, but the alteration is more dramatic with a product modification than it is with a line extension.
C) Line extensions are designed to better meet the needs of the existing market segment while product modifications target entirely new segments of the market.
D) With product modifications, the original product is replaced in the product line while both the old and the new products remain in the case of line extension.
E) Line extensions are strictly aesthetic changes to an existing product whereas product modifications consist of changes in quality and functionality.

Accepted Answer

With product modifications, the original product often gets replaced or significantly altered in the product line, reflecting substantial changes in its features, quality, or performance. In contrast, line extensions involve adding new varieties, sizes, flavors, or related products to an existing product line without replacing the original product, thereby expanding the product line.

Question 15

Compare and contrast line extensions and product modifications.

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Question 16

____ is the development of a product that is closely related to one or more products in a firm's existing product line but is designed specifically to meet somewhat different customer needs.
A) Quality modification
B) Line extension
C) Aesthetic modification
D) Feature modification
E) Product mix modification

Accepted Answer

Line extension is the development of a product that is closely related to an existing product line but designed to meet different customer needs. Quality modification involves changes in the quality of a product, whereas aesthetic and feature modifications involve changes in the design or features of a product. Product mix modification involves changes in the overall mix of products offered by a firm.

Question 17

Discuss the advantages and problems associated with test marketing.

Accepted Answer

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Question 18

Why is it often difficult for organizations to delete products?

Accepted Answer

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Question 19

Describe product positioning. List and explain the bases for positioning.

Accepted Answer

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Question 20

Identify and describe the three major ways to modify existing products, and give an example of each.

Accepted Answer

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Quiz 12: Developing and Managing Products

Compare and contrast a product manager and a brand manager.

What is concept testing, and why is it important?

In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and

What exactly is analyzed during the business analysis phase of new-product development?

In product modification, the first issue to consider is whether

Identify and explain the dimensions of product quality.

Why are line extensions more common than new products?

If the manufacturer of Cool Whip were to introduce a chocolate-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example of