Question 1

When consumers reach the point of brand ________, the product becomes a specialty good.
A) association
B) desire
C) awareness
D) insistence

Accepted Answer

Brand insistence is the highest level of brand loyalty where consumers are not willing to consider any other alternatives and insist on purchasing only that particular brand. At this level, the product becomes a specialty good. Therefore, option D is the correct answer. Options A, B, and C are incorrect as they do not necessarily indicate a high level of brand loyalty or the product being considered a specialty good.

Question 2

The job performed by brand managers:
A) is mainly concerned with the promotion of the entire product mix of their firm.
B) involves broad responsibilities for the marketing of a specific brand or product line.
C) is likely to become less important in firms that utilize the Internet.
D) focuses more on the pricing and promotion of established goods than on the development of new products.

Accepted Answer

Brand managers are responsible for the marketing of a specific brand or product line. They develop strategies to increase brand awareness, manage the brand's reputation, and ultimately increase sales. While they may work on promotional efforts, their role is not solely focused on promotion of the entire product mix of their firm. The importance of brand managers is not likely to decrease with the use of the internet, as effective branding and reputation management are still crucial in the online marketplace. Additionally, brand managers are involved in both pricing and promotion of their product, as well as product development.

Question 3

Nonbranded products that sell below the price of national brands, have very basic packaging, and are backed with little or no advertising are called:
A) universal goods.
B) distributor brands.
C) house brands.
D) generic goods.

Accepted Answer

The description given in the question matches that of generic goods.

Question 4

When a brand becomes commonplace and identified with a category of goods rather than the unique product of a specific manufacturer, the brand may become a:
A) generic name.
B) trademark.
C) universal product code.
D) product liability issue.

Accepted Answer

When a brand becomes so commonly used to refer to a category of goods that it loses its distinctiveness as a specific brand name, it becomes a generic name. This means that it is no longer considered a protected trademark and can be used by anyone in the industry.

Question 5

Some businesses use nostalgic ads to rekindle the memories and emotions of consumers to an earlier time and place. This technique of linking a brand name to a pleasant memory or favorable image is the goal of brand:
A) association.
B) tie-ins.
C) insistence.
D) preference.

Accepted Answer

Brand association is the goal of linking a brand name to a positive memory or image in the minds of consumers. Nostalgic ads specifically aim to tap into nostalgic emotions to create a positive association with the brand. Tie-ins refer to partnerships between brands, while insistence and preference are more focused on building brand loyalty and repeat business.

Question 6

A ________ has direct responsibility for all the elements of the marketing mix for one brand or product line.
A) channel specialist
B) brand manager
C) product engineer
D) brand specialist

Accepted Answer

A brand manager has direct responsibility for all the elements of the marketing mix for one brand or product line. Channel specialists are responsible for managing the distribution channels for a company's product. Product engineers are responsible for designing and developing new products. Brand specialists may also work on specific aspects of branding, but do not have overall responsibility for the marketing mix.

Question 7

The apple is Apple Computer's:
A) generic name.
B) label.
C) trademark.
D) brand.

Accepted Answer

The apple is a registered trademark of Apple Computer, meaning it is a symbol that represents their company and products. It is not a generic name, label, or brand in this context.

Question 8

Many supermarkets carry plain packages that only identify the name of the product that is inside. For example, a label may read simply "peaches" or "green beans." These goods represent:
A) private labels.
B) manufacturers' brands.
C) generic goods.
D) universal code branding.

Accepted Answer

Goods with plain packages that only identify the name of the product inside are known as generic goods. These products are typically not associated with any specific brand or manufacturer and are often sold at a lower price point than branded alternatives.

Question 9

The degree to which customers are satisfied and are committed to future purchases of a desired brand is called:
A) brand awareness.
B) brand relations.
C) brand loyalty.
D) brand intensity.

Accepted Answer

Brand loyalty is the degree to which customers are satisfied and are committed to future purchases of a desired brand. Brand awareness refers to how familiar consumers are with a particular brand, brand relations is not a commonly used term, and brand intensity is not a recognized term in marketing.

Question 10

One of the reasons why companies create the position of brand manager is to:
A) have greater control over new-product development and promotion.
B) cut expenses associated with the marketing of products.
C) limit the amount of market research expenses products require.
D) identify and prosecute firms that violate trademark protection.

Accepted Answer

The primary responsibility of a brand manager is to oversee the development and promotion of a brand. This includes managing product development, advertising, pricing, and distribution. By having a brand manager in place, companies can ensure that these activities are aligned with the overall branding strategy and consistently represent the brand's values and attributes.

Question 11

Knockoff brands are ________ copies of national brand-name goods.
A) exact
B) online
C) illegal
D) licensed

Accepted Answer

Knockoff brands are illegal copies of national brand-name goods that are produced without proper authorization or permission from the original brand owners.

Question 12

Which of the following refers to how quickly or easily a given brand name comes to mind when a product category is mentioned?
A) brand equity
B) brand loyalty
C) brand awareness
D) brand insistence

Accepted Answer

Brand awareness refers to the level of consumer consciousness or recognition of a brand name within a certain category. It is an important factor in brand development because it impacts brand consideration and purchase decisions.

Question 13

Certain brand names, such as Kleenex and Xerox, fear they could become _________, because they are so commonly identified with a specific product category that consumers use these names to refer to any product in that category regardless of the manufacturer.
A) family brands
B) generic names
C) universal products
D) knockoff names

Accepted Answer

These brand names are at risk of becoming generic names, which are commonly used to refer to any product in a particular category, regardless of the manufacturer.

Question 14

The brand names that are used by producers that distribute products nationally are called:
A) manufacturers' brands.
B) product category brands.
C) generic brand names.
D) universal brand names.

Accepted Answer

Manufacturers' brands are brand names used by producers or manufacturers that distribute products nationally. They are also known as national brands or producer brands.

Question 15

Fashion experts readily understand the power of ________________. Shortly after Kate Middleton married Prince William, throngs of soon-to-be-brides scrambled to find copies of her bridal gown, and also that of her sister Pippa's bridesmaid gown.
A) brand equity
B) brand association
C) brand awareness
D) marketing parity

Accepted Answer

The answer of Fashion experts readily understand the power of...

Question 16

Products that carry the name of a distributor or a retailer instead of the manufacturer's name are called:
A) dealer (private) brands.
B) knockoff brands.
C) generic brands.
D) equity brands.

Accepted Answer

Dealer brands, also known as private brands, are products that are sold under the name of a distributor or retailer rather than the manufacturer's name. These brands are often created to compete with national brands and generate higher profit margins for the retailer.

Question 17

Brand __________ refers to the linking of a brand to other favorable images, such as a celebrity.
A) association
B) loyalty
C) awareness
D) insistence

Accepted Answer

Brand association is the process of creating a relationship between a brand and other favorable images, such as a celebrity or a positive attribute. This association can help to enhance the brand's image and create a memorable impression in the minds of consumers.

Question 18

One reason many large consumer-product companies make use of __________ is to have greater control over new-product development and product promotion.
A) brand equity teams
B) equity specialists
C) product consultants
D) brand management teams

Accepted Answer

Brand management teams typically oversee the development and promotion of a company's products within a specific brand or product line. By having these teams in place, large consumer-product companies can have greater control over the new-product development process and ensure that the products that are launched are consistent with the overall brand messaging and positioning. Additionally, brand management teams can manage the marketing and advertising efforts for these products, ensuring that they are effectively reaching and resonating with the target audience.

Question 19

Brand __________ refers to the loyalty, perceived quality, and emotions people associate with a given brand name.
A) equity
B) identification
C) positioning
D) ownership

Accepted Answer

Brand equity refers to the inherent value that a brand name carries and encompasses the loyalty, perceived quality, and emotions people associate with the brand. It is a crucial aspect of a brand's success as it influences consumer behavior and can lead to increased sales and market share.

Question 20

The New Era Cap Company understands the importance of _______________. In the mid-1990s, the company's products became very popular when film director Spike Lee requested a red Yankees cap, instead of the traditional blue cap. It did not take long for Yankees' fans who were also fans of Spike Lee to want to wear a similar cap.
A) brand equity
B) viral marketing
C) brand association
D) marketing parity

Accepted Answer

The answer of The New Era Cap Company understands the...

Quiz 14: Developing and Pricing Goods and Services

When consumers reach the point of brand ________, the product becomes a specialty good.

The job performed by brand managers:

Nonbranded products that sell below the price of national brands, have very basic packaging, and are backed with little or no advertising are called:

When a brand becomes commonplace and identified with a category of goods rather than the unique product of a specific manufacturer, the brand may become a:

Some businesses use nostalgic ads to rekindle the memories and emotions of consumers to an earlier time and place. This technique of linking a brand name to a pleasant memory or favorable image is the goal of brand:

A ________ has direct responsibility for all the elements of the marketing mix for one brand or product line.

The apple is Apple Computer's:

Many supermarkets carry plain packages that only identify the name of the product that is inside. For example, a label may read simply "peaches" or "green beans." These goods represent:

The degree to which customers are satisfied and are committed to future purchases of a desired brand is called:

One of the reasons why companies create the position of brand manager is to:

Knockoff brands are ________ copies of national brand-name goods.

Which of the following refers to how quickly or easily a given brand name comes to mind when a product category is mentioned?

Certain brand names, such as Kleenex and Xerox, fear they could become _________, because they are so commonly identified with a specific product category that consumers use these names to refer to any product in that category regardless of the manufacturer.

The brand names that are used by producers that distribute products nationally are called:

Fashion experts readily understand the power of ________________. Shortly after Kate Middleton married Prince William, throngs of soon-to-be-brides scrambled to find copies of her bridal gown, and also that of her sister Pippa's bridesmaid gown.

Products that carry the name of a distributor or a retailer instead of the manufacturer's name are called:

Brand __________ refers to the linking of a brand to other favorable images, such as a celebrity.

One reason many large consumer-product companies make use of __________ is to have greater control over new-product development and product promotion.

Brand __________ refers to the loyalty, perceived quality, and emotions people associate with a given brand name.