Question 1

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

Accepted Answer

The answer of Procter & Gamble markets laundry soap with...

Question 2

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 its entire line of food products, which includes canned fruits and packaged salads.

Question 3

Luis wants a particular brand of golf ball,but his local pro shop is out of stock.Instead of buying a substitute,Luis goes home and orders his preferred brand online.Luis is at which stage of brand loyalty?

Accepted Answer

Luis's behavior indicates brand insistence, as he is unwilling to settle for a substitute and actively seeks out his preferred brand.

Question 4

While marketing a new wireless phone,Mobile Media Corporation 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

Test marketing involves introducing a product to a limited market to gauge its acceptance and identify potential issues before a full launch, but Mobile Media Corporation skipped this stage to avoid the expense and risk of revealing their strategies to competitors.

Question 5

E-readers were introduced a few years ago 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 successfully adopted by consumers, and additional companies entering the market and steady sales indicate growth. Therefore, e-readers are currently in the growth stage of the product life cycle.

Question 6

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

Accepted Answer

A trademark is a brand name that has been given legal protection. A patent is legal protection for an invention, while a copyright protects original creative works. Royalty refers to the payment made to the owner of intellectual property for the use of that property.

Question 7

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.

Question 8

Rachael 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.Rachael is in what stage of product development?

Accepted Answer

Rachael is currently in the screening stage of product development, where she is working to eliminate ideas that cannot be developed within the company's resources. Test marketing comes after product development, and commercialization comes after test marketing.

Question 9

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

Accepted Answer

Test marketing can alert competitors to a company's plans, which may enable them to preempt the product launch or develop similar products to compete with it.

Question 10

The combination of industry saturation and intense competition indicates that a product has reached the ________ stage of its product life cycle.

Accepted Answer

The industry saturation and intense competition both suggest that the market has become saturated and that the product has likely been on the market for a considerable time, indicating that it has entered the maturity stage of the product life cycle. In the early stage, there would be minimal competition, and the product would still be establishing its position in the market. In the growth stage, the market is expanding, and there may be some competition, but usually not as intense as during the maturity stage. The decline stage would be characterized by a decrease in demand for the product.

Question 11

Which of the following is a benefit of family branding?

Accepted Answer

Family branding creates brand recognition and loyalty among consumers and retailers. When a new product is introduced under the same brand, it can leverage the positive reputation and trust built by the existing products, making it easier to gain consumer acceptance and generate sales.

Question 12

Customers who choose one brand over another are displaying __________.

Accepted Answer

Brand preference refers to the tendency of customers to choose one brand over another, which is displayed by their repeat purchases or positive attitudes towards the brand. Brand comprehension refers to the customer's level of understanding about a brand and its attributes, while brand recognition refers to the customer's ability to recognize a brand based on its name, logo, or packaging. Brand insistence refers to the customer's unwavering loyalty towards a particular brand, even if other options are available. Therefore, brand preference is the most appropriate option in this scenario.

Question 13

Charles works for Whirlpool 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.Charles is working in which stage of new-product development?

Accepted Answer

Charles is working on the development of a new product, creating designs, tests, and prototypes, which is the product development stage of the new-product development process. Test marketing occurs after commercialization, and screening is an earlier stage where ideas are reviewed for feasibility and potential.

Question 14

The new-product development stage that deals with the elimination of ideas that do not mesh with overall company objectives is ________.

Accepted Answer

The screening stage of new-product development involves evaluating and eliminating ideas that do not align with the company's overall objectives. During this stage, ideas are assessed based on their feasibility, potential profitability, fit with the company's mission, and other criteria to determine whether they should be developed further or discarded. Testing involves evaluating prototypes and gathering feedback from potential customers, while product development involves creating and refining the product concept. Commercialization is the final stage of new-product development, involving the launch and distribution of the finished product.

Question 15

Genuine Products 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 implies that the product has been experiencing intense competition and declining profits, which indicates that it has reached the decline stage of the product life cycle. This stage is characterized by a reduction in demand and sales, leading to falling revenues and profits. In contrast, during the introductory stage, a product is newly launched and has not yet gained widespread acceptance in the market. The growth stage is characterized by rising demand and increasing profits, while the maturity stage is marked by stable demand and profits.

Question 16

American Express is an effective brand name because it ________.

Accepted Answer

American Express is a brand name that is easy to pronounce, recognize, and remember which makes it effective.

Question 17

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 or store brand refers to products that are manufactured or provided by one company for offer under another company's brand. In this case, Kroger's own line of detergent is being promoted, which indicates that it is a private or store brand.

Question 18

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

Trademarks are slogans, names, logos, and other unique features of a brand that are legally protected from use by competitors. Slogans like "Just Do It" or "Obey Your Thirst" are catchy phrases that are meant to be associated with the brand they represent, and therefore they fall under the umbrella of trademarks.

Question 19

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

Accepted Answer

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

Question 20

Cell phones are an example of a product in the _________ stage.

Accepted Answer

Cell phones have been around for several decades and are widely used by a large portion of the global population. They are not a new product, so they are not in the introductory stage. They are also not in decline, as the demand for cell phones continues to be high. While there may still be some growth potential in emerging markets, overall, cell phones have reached a point of maturity in their lifecycle.

Quiz 12: Product and Distribution Strategies