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| 1 | |
A few years ago Who Wants to Be a Millionaire premiered as the first nighttime game show in several decades. The marketing for the show was intent on making television viewers aware of its existence and excited enough about the show that we would watch the first episode. Based on this description, in which stage of the product life cycle would this show be? |
| | A) | Introduction |
| | B) | Growth |
| | C) | Maturity |
| | D) | Decline |
| | E) | Harvest |
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| 2 | |
Gillette spent US$300 million in advertising to introduce the Fusion razor to consumers. Such expenditures are often made to stimulate __________ or desire for the product class, rather than for a specific brand, when there are no competitors with the same product. |
| | A) | secondary demand |
| | B) | introductory demand |
| | C) | primary demand |
| | D) | discretionary demand |
| | E) | repeat purchase |
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| 3 | |
During the introduction stage of the product life cycle, the place element of the marketing mix is highly involved with __________. |
| | A) | increasing inventory |
| | B) | gaining distribution outlets |
| | C) | guaranteeing there is adequate demand if a skimming pricing strategy is used |
| | D) | building storage warehouses and distribution centers |
| | E) | using an intermodal logistics system |
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| 4 | |
Xerox pioneered the first portable fax machine. In 1980 the price was US$12,700. Xerox was using a(n) __________ strategy to help cover the cost of its research and development. |
| | A) | penetration pricing |
| | B) | cost-plus pricing |
| | C) | ROI pricing |
| | D) | market-oriented pricing |
| | E) | skimming pricing |
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| 5 | |
To discourage competitive entry, a company can price its new product low, using penetration pricing. This pricing strategy also helps to __________. |
| | A) | reduce costs |
| | B) | increase profits |
| | C) | build customer loyalty |
| | D) | improve product quality |
| | E) | build unit volume |
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| 6 | |
Introduced by Procter & Gamble in 1928 and used by such consumer goods firms as General Foods and Frito-Lay and by industrial firms such as Intel and Hewlett-Packard, the product manager manages the marketing efforts for __________. |
| | A) | all of the corporation's products or brands |
| | B) | diverse assortment of varied products or brands |
| | C) | existing products through the stages of the life cycle |
| | D) | those aspects of products or brands that require close fiscal scrutiny |
| | E) | a close-knit family of products or brands |
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| 7 | |
Ten years ago, Sentosa was a nice place to visit with sandy beaches, resorts and restaurants. With the addition of Integrated Resorts coming into existence in the next few years, Sentosa improved its odds of being a tourist destination for more travelers. This is an example of __________. |
| | A) | a market-product strategy |
| | B) | diversification |
| | C) | market modification |
| | D) | product modification |
| | E) | harvesting |
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| 8 | |
Condoms, originally intended for contraception, is now being promoted as protection against AIDS and other sexually transmitted diseases. Which of the following market modification strategies is used here? |
| | A) | Finding new users |
| | B) | Creating new use situations |
| | C) | Increasing use by existing customers |
| | D) | Modifying the product characteristics |
| | E) | Doing none of the above |
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| 9 | |
Tiger Beer started by targeting male drinkers. Over the years its marketing strategies target the female drinkers as well. In this example, Tiger Beer is using which of the following market modification strategies? |
| | A) | Finding new users |
| | B) | Creating new use situations |
| | C) | Increasing use by existing customers |
| | D) | Modifying the product |
| | E) | Reacting to competitors' positions |
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| 10 | |
Which of the following repositioning strategies requires a change in the physical product? |
| | A) | Increasing use |
| | B) | Creating new use situations |
| | C) | Finding new users |
| | D) | Changing the value offered |
| | E) | Catching a rising trend |
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| 11 | |
The swoosh that appears on every Nike product is an example of a __________. |
| | A) | copyright |
| | B) | trade name |
| | C) | service mark |
| | D) | brand name |
| | E) | generic brand |
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| 12 | |
When Rose went shopping for a new purse, she thought she had found a real value—a Gucci purse for about 50% of what she was planning to pay. When she looked more closely, she noticed that although the purse was identical to a Gucci it was not manufactured by Gucci. This was most likely an example of __________. |
| | A) | licensing |
| | B) | "Me-too" marketing |
| | C) | brand imitation |
| | D) | product counterfeiting |
| | E) | re-manufacturing |
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| 13 | |
Brand equity is __________. |
| | A) | the resources invested to create a name, phrase, design, symbol or combination of these to identify a firm's products and distinguish them from those of its competitors |
| | B) | adding customer value to the product brand through additional features or higher-quality materials or reducing its price |
| | C) | increasing the content contained within the brand's package without changing its size or increasing its price |
| | D) | the net present value of the royalties the firm receives as a result of licensing its brand to other firms to manufacture and/or market |
| | E) | the added customer value a given brand name gives to a product beyond the functional benefits provided |
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| 14 | |
Naming a personal computer PCjr, as IBM did with its first computer for home use had which problem with this brand name? |
| | A) | The name was distinctive and memorable |
| | B) | The name did not fit the company image |
| | C) | The name did not have legal restrictions |
| | D) | The name was simple |
| | E) | The name suggests the product benefits |
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| 15 | |
All computers sold by the Hewlett Packard are sold under Hewlett Packard brand. This is an example of __________. |
| | A) | multiproduct licensing |
| | B) | multibranding |
| | C) | co-branding |
| | D) | generic branding |
| | E) | multiproduct branding |
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| 16 | |
Packages create customer value by providing __________. |
| | A) | legal disclaimers |
| | B) | instructions for use |
| | C) | communication, functional and perceptual benefits |
| | D) | environmental impact statements |
| | E) | all of the above |
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| 17 | |
The challenges of packaging and labeling are often global. Two particular types of challenges facing global manufacturers are environmental concerns and __________. |
| | A) | creating larger size packages to be sold at warehouse stores |
| | B) | cultural diversity |
| | C) | making packaging a less expensive part of the marketing strategy |
| | D) | health and safety concerns |
| | E) | total quality management |
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| 18 | |
Which of the following statements about Mr. Bean is true? |
| | A) | Super Bean International engaged in heavy branding of Mr. Bean |
| | B) | Mr. Bean’s brand identity if “Bringing you life’s simple pleasures” |
| | C) | A new logo was created in 2006 to produce a more vibrant and refreshing image |
| | D) | Mr. Bean is a well-known and popular brand among consumers |
| | E) | All of the above statements about Mr. Bean are true. |
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| 19 | |
Warranties which assign responsibility for product deficiencies to the manufacturer are most correctly called __________ warranties. |
| | A) | limited-coverage |
| | B) | technical |
| | C) | implied |
| | D) | strict-liability |
| | E) | express |
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| 20 | |
The time a product can be stored before it spoils is called __________. |
| | A) | product life |
| | B) | storage benefit |
| | C) | protection potential |
| | D) | shelf life |
| | E) | the born-on date |
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