Question 1

How does the American Marketing Association define a brand and why is a strong brand important?

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Question 2

How do the essential benefit and the core product relate? Why is this important?

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Question 3

Identify and explain the boundaries of branding.

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Question 4

The warranty for tires is by the tire manufacturer while warranties for the power train are generally different from the rest of the automobile.These are examples of ________ warranties.

Accepted Answer

These are specific warranties because they apply only to certain aspects or components of the product.

Question 5

Define brand equity according to David Aaker and list the corresponding dimensions.

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Question 6

The first phase of the maturity stage of the PLC is characterized as having _________.

Accepted Answer

The first phase of the maturity stage of the PLC is typically characterized by an increase in sales, but at a decreasing rate. This means that sales are still growing, but at a slower pace than during the growth stage. This phase may also be characterized by increased competition and marketing efforts to differentiate the product and maintain market share.

Question 7

Recently,Mercedes-Benz quietly reduced its warranty coverage by eliminating some free scheduled maintenance,because the expense for the firm was too high.At the same time,Hyundai and others have expanded their warranties to build consumer confidence in their cars.They realize that extending the period of warranty coverage demonstrates they are making better cars in a very tangible way.These are examples of firms considering the ______ of the product warranty.

Accepted Answer

The reduction of warranty coverage by Mercedes-Benz due to high expenses and the expansion of warranties by Hyundai and others to build consumer confidence demonstrate the firms' consideration of the costs and benefits of their product warranties.

Question 8

The _________ is an example of an industry that brings out items in the spring,watches its growth in the summer and fall,and finally declines by the winter.It has a PLC that takes one selling season that is one year long and it is over.

Accepted Answer

The women's fashion industry is known for following seasonal trends and bringing out new designs for each season. It typically sees growth in the summer and fall when people are buying clothes for the warmer weather, and declines in the winter when people prioritize warmth over fashion. The industry's product lifecycle takes one year, with each season representing a different stage in the cycle.

Question 9

Many Harley-Davidson owners have tattooed the company logo on their bodies.The HOG (Harley Owners Group)boasts a large membership willing to spend a lot of money on all things Harley.Indeed,Harley-Davidson has come to symbolize more than a motorcycle; it is a lifestyle.This is an example of _____ customers.

Accepted Answer

The fact that Harley-Davidson customers have tattooed the company logo on their bodies and are members of the HOG shows a strong sense of loyalty to the brand. Additionally, the company has become more than just a motorcycle brand and has created a lifestyle around their products. This type of customer behavior fits in with the definition of brand loyalty.

Question 10

Ralph and Marie are buying Lisette,their 16 year-old daughter,her first car.Consider the product experience from the parent's point of view and Lisette's point of view.Why is this perspective important to marketers?

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Question 11

The owner of NOP detergents is working with an art designer on the label for a new line of naturally scented detergents.They are trying to come up with the best way to place the brand and logo along with the other required information on the label.They are working on the ________ requirements of labeling.

Accepted Answer

Since package labeling represents the last marketing opportunity before the purchase decision, as much label space as possible is allocated to marketing communications. Brand, logo, product image, and other relevant marketing messages take up the dominant space on the label.

Question 12

Explain the advantages and disadvantages of both stand-alone and family branding.Give examples of companies that use each method.

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Question 13

What is an enhanced product? Give an example.

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Question 14

In the maturity stage of the PLC,consumer goods companies find that they spend __________.

Accepted Answer

In the maturity stage, the competition increases and it becomes important for companies to differentiate their product and reinforce its unique features in the minds of the consumers. Therefore, companies tend to spend a large percentage of their budget on marketing communications to support the brand and product differentiation in order to maintain their market share.

Question 15

The marketing manager for ABC Appliances is working on the warranty for their new line of dishwashers.She is considering a 2-year total warranty based on costs,but the competition offers a 4-year total warranty and a 5-year mechanical warranty.She is worried that the shorter warranty she is planning will make customers think that ABC's dishwashers are inferior in quality.She should think about the _______ of the warranty.

Accepted Answer

The marketing manager should consider the message that a shorter warranty sends to customers in terms of perceived quality.

Question 16

What are the implications of the dimensions of brand equity for marketing managers?

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Question 17

Define product.What is the difference between product and product item?

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Question 18

On a box of Procter & Gamble's Bounce fabric softener sheets,the brand name "Bounce" is approximately 50 percent of the space on the front panel and the rest of the space is a bright color (orange)with clean fresh images of a sun rising and a green field.This is an example of the _____ requirements of labeling.

Accepted Answer

This is an example of the marketing requirements of labeling, as the focus is on promoting the brand and creating a visually appealing package to attract consumers. There may also be legal or industry requirements for labeling, but those are not the primary focus in this scenario.

Question 19

What is an essential benefit? List five products and their essential benefits.

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Question 20

The essential marketing objective in the introductory stage of the PLC is to build ____________.

Accepted Answer

The essential marketing objective in the introductory stage of the PLC is to create awareness of the product among potential customers and encourage them to try the product. Thus, the best choice is D, which states that the objective is to build awareness leading to trial purchase. Option A is partially correct but does not encompass the whole objective. Option B is not a priority in the introductory stage as the focus is on creating awareness and not public relations. Option C is the objective in the growth stage, which follows the introductory stage. Option E is also not a priority in the introductory stage as it comes after the trial purchase.

Quiz 8: The Product Experience: Product Strategy and Building the Brand