CHAPTER 3: BRANDING STRATEGY AND CONSUMER BEHAVIOUR

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1. Diffusion of innovation is the rate at which a new product spreads or is adopted across the marketplace. a. True b. False United States - NONE - DISC: Individual Dynamics - Individual Dynam... ics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 2. Perceived risk usually increases the diffusion rate of new products. a. True b. False POINTS: False 1 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.01- 03.01 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension 3. Incremental innovations usually diffuse more quickly than totally new products. a. True b. False POINTS: DIFFICULTY: True 1 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.01- 03.01 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge LEARNING OBJECTIVES: COBE.KARD.11.03.01- 03.01 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 5. Trialability of a new product tends to be lower for inexpensive products than for expensive products. a. True b. False POINTS: False 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.11.03.01- 03.01 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 6. The S-shaped diffusion curve tends to produce aU-shaped life cycle curve. a. True b. False POINTS: False 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.11.03.01- 03.01 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge KEYWORDS: CB&C Model Strategy Bloom's: Knowledge 8. The adoption rate of a new product usually is highest during the growth stage of the product life cycle. a. True b. False POINTS: True 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.11.03.01- 03.01 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 9. During the introduction stage of the product life cycle, managers should focus on reducing production and marketing costs. a. True b. False POINTS: False 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.11.03.02- 03.02 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge KEYWORDS: CB&C Model Strategy Bloom's: Knowledge 11. The "decline" stage is the last stage of the product life cycle. a. True b. False POINTS: True 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.ll.03.02- 03.02 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 12. Establishing a strong brand name and reputation typically costs less than ten thousand dollars. a. True b. False POINTS: False 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.ll.03.02- 03.02 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge KEYWORDS: CB&C Model Strategy Bloom's: Knowledge 14. Each product goes through rejuvenation during the decline stage. a. True b. False POINTS: False 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.11.03.02- 03.02 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 15. Commodities don't follow the product life cycle. a. True b. False POINTS: DIFFICULTY: False 1 Moderate LEARNING OBJECTIVES: COBE.KARD.11.03.02- 03.02 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge KEYWORDS: CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 17. Most products score high on both differentiation and relevance. a. True b. False POINTS: DIFFICULTY: False 1 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 18. Brand name is often a product's most important attribute. a. True b. False POINTS: True 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge KEYWORDS: CB&C Model Strategy Bloom's: Knowledge 20. Brand meaning depends on the strength and nature of the image of the brand in terms of objective quality and performance. a. True b. False POINTS: DIFFICULTY: True 1 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 21. People who drive BMW's report feeling like important people when they drive their cars. This represents a strong brand meaning. a. True b. False POINTS: False 1 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.11.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension 22. Measuring how much a competitor would be willing to pay for a brand name trademark is a good way to measure brand resonance. a. True b. False POINTS: False 1 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.11.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension 23. One way to measure brand equity is to compare consumers' evaluations of a product with a brand name against a generic no-name product in the same category. a. True b. False POINTS: DIFFICULTY: True I Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 24. Brands that are high in brand strength and brand stature have the greatest amount of equity to protect and leverage. a. True b. False POINTS: DIFFICULTY: True I Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 25. Brands that are low in brand strength but high brand stature are usually strong niche brands. a. True b. False POINTS: False I DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension POINTS: True 1 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.11.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension 27. U.S. Fortune 500 shows that total market share decreases as product line breadth increases. a. True b. False POINTS: DIFFICULTY: False 1 Moderate LEARNING OBJECTIVES: COBE.KARD.11.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Strategy Bloom's: Knowledge 28. Many U.S. fmns are increasing the emphasis on the number of product line managers. a. True b. False POINTS: True 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.11.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Strategy Bloom's: Knowledge POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.11.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 30. A marketer should consider expanding a product line when consumers are attribute (vs. brand) loyal. a. True b. False POINTS: True 1 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.11.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension 31. Slogans like "stick with what works," and "you get what you pay for," are highly credible arguments for consumers. a. True b. False POINTS: True 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.11.03.04- 03.04 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Marketing Plan CB&C Model Promotion CB&C Model Strategy Bloom's: Knowledge DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.04- 03.04 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Marketing Plan CB&C Model Pricing CB&C Model Strategy Bloom's: Comprehension 33. Ambiguity and confmnation bias favor strong and weak brands. a. True b. False POINTS: False I DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.ll.03.04- 03.04 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Marketing Plan CB&C Model Strategy Bloom's: Knowledge 34. Comparative advertising increases the perceived similarity of underdog and topdog brands. a. True b. False POINTS: DIFFICULTY: True I Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.04- 03.04 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Promotion CB&C Model Strategy Bloom's: Knowledge POINTS: I DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.ll.03.04- 03.04 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Promotion CB&C Model Strategy Bloom's: Knowledge 36. Retention strategies focus on keeping existing customers. a. True b. False POINTS: True I DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.ll.03.05- 03.05 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Promotion CB&C Model Strategy Bloom's: Knowledge 37. Acquisition and retention strategies usually rely on the use of similar marketing activities. a. True b. False POINTS: False I DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.05- 03.05 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Promotion CB&C Model Strategy Bloom's: Comprehension DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.ll.03.05- 03.05 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Promotion CB&C Model Strategy Bloom's: Knowledge 39. Offering a lower price when a consumer purchases multiple units at one time is called continuity pricing. a. True b. False POINTS: DIFFICULTY: True I Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.05- 03.05 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Pricing CB&C Model Strategy Bloom's: Knowledge 40. A short channel of distribution is preferred when trying to retain existing customers, but a long channel of distribution is preferred when trying to acquire new customers. a. True b. False POINTS: DIFFICULTY: False I Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.05- 03.05 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Distribution CB&C Model Marketing Plan CB&C Model Strategy Bloom's: Knowledge 41. The is the rate at which a new product spreads or is adopted across the marketplace. a. rapid takeoff curve b. brand asset valuator c. product life cycle d. long-run franchise curve e. diffusion of innovation e POINTS: 2 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.ll.03.01- 03.01 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 42. Which of the following is not a factor that influences diffusion of innovation? a. The relative advantage of a new product over old products b. Complexity and user-friendliness c. Perceived risk d. Compatibility with existing consumers beliefs, opinions, and lifestyles e. Potential for cannibalization POINTS: DIFFICULTY: e 2 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.01- 03.01 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 43. , which is the ease with which consumers can sample or use a new product innovation, the diffusion rate. a. Relative advantage; increases b. Complexity; increases c. Trialability; increases d. Relative advantage; decreases e. Trialability; decreases c POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.11.03.01- 03.01 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension 44. A product with a relative advantage the diffusion rate a. high; increases b. low; increases c. high; decreases d. Both A and B are correct. e. None of the above are correct. a POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.11.03.01- 03.01 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension 45. Marketers can best influence the diffusion rate early in the introduction stage by identifying and marketing toward what group of consumers? a. Early adopters b. Innovators c. Laggards d. Majority buyers e. None of the above are correct. POINTS: DIFFICULTY: b 2 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.01- 03.01 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 46. Which new product entry strategy is most closely associated with the maturity stage of the diffusion of innovation curve? a. Rapid takeoff b. Rapid acceleration c. Maximum penetration d. Long-run franchise e. Rejuvenation POINTS: DIFFICULTY: c 2 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.01- 03.01 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 47. Which new product entry strategy is most appropriate when the product is expected to have a relatively short product life cycle? a. Moderate takeoff b. Rapid acceleration c. Maximum penetration d. Long-run franchise e. Rejuvenation b POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.01- 03.01 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: NOTES: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension Bloom's: Comprehension 48. When a new product is first introduced to the market, the marketing manager should focus primarily on: a. creating awareness and stimulation of trial b. building and holding share c. production process improvement d. harvesting e. rejuvenating POINTS: DIFFICULTY: a 2 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.02- 03.02 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 49. During the growth phase of the product life cycle, the marketing manager should focus primarily on: a. creating awareness and stimulation of trial b. building and holding share c. production process improvement d. harvesting e. rejuvenating POINTS: DIFFICULTY: b 2 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.02- 03.02 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 50. During the maturity phase of the product life cycle, the marketing manager should focus primarily on: a. creating awareness and stimulation of trial b. building and holding share c. production process improvement d. harvesting e. rejuvenating POINTS: DIFFICULTY: c 2 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.02- 03.02 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 51. FluTest is a new product that has been on the market a few months. It is an at-horne test kit to diagnose seasonal flu. The managers at FluTest are working hard to create awareness and get people to try the product. This product is most likely in what stage of the product life cycle? a. Introduction b. Early adoption c. Growth d. Maturity e. Rejuvenation a POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.02- 03.02 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension 52. Lava soap is a heavy-duty hand soap designed to remove grease and oil. The makers of Lava are currently looking for new uses for the product, including stain removal for cloths. This product is most likely in what stage of the product life cycle ? a. Introduction b. Harvest c. Growth d. Maturity e. Decline e POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.02- 03.02 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension 53. Which of the following is not a strategy for extending the product life cycle and rejuvenating a product? a. Branding a commodity b. Identifying new relative advantages c. Increasing the price d. Identifying new users e. All of the above are strategies for extending the product life cycle. POINTS: DIFFICULTY: c 2 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.02- 03.02 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 54. Which of the following is a strategy for extending the product life cycle and rejuvenating a product? a. Developing a new use for the product b. Advertising more heavily c. Reducing price d. Developing a new distribution strategy e. All of the above are strategies for extending the product life cycle. POINTS: DIFFICULTY: e 2 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.02- 03.02 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 55. The value that a brand accrues based on the goodwill attached to associations with the brand name is known as: a. brand extension value b. asset value c. diffusion rate d. customer utility e. None of the above is correct. e POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension 56. New products that share brand name with a familiar established product are known as: a. brand extensions b. market leaders c. niche brands d. market underdogs e. growth brands a POINTS: 2 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 57. Which of the follow is not measured in the Young and Rubicam Brand Asset Valuator? a. Differentiation b. Relevance c. Esteem d. Equality e. All of the above are measured. POINTS: DIFFICULTY: d 2 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 58. According to the Young and Rubicam Brand Asset Valuator, brand strength equals: a. esteem X knowledge b. esteem X relevance c. differentiation X knowledge d. differentiation X relevance e. None of the above is correct. POINTS: DIFFICULTY: d 2 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 59. According to the Young and Rubicam Brand Asset Valuator, brand differentiation is: a. how unique the brand is b. how useful the brand is c. how clear or consistent the brand image is d. how much brand resonance the brand has e. how much relevance the brand has a POINTS: 2 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Knowledge 60. Procter and Gamble offers over 10 different diaper products. Unfortunately, many of these product are similar and compete with each other. This is an example of what concept? a. Asset over-valuation b. Diffusion failure c. The sales-cost trade-off d. Cannibalization e. The majority fallacy d POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension 61. According to your readings, which of the following factors does not help a finn control costs associated with product line breadth? a. Just-in-time ordering procedures b. Flexible manufacturing technologies c. Sharing common parts d. Adding non-common parts at early stages of the manufacturing process e. All of the above help. d POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension 62. The makers of Pantene Hair Care products was interested in determining types of loyalty in its target market. Using marketing research, they asked customers to indicate their first choice and their second choice from among a list of brands and brand extensions. The majority of the participants indicated that Pantene Body Rich Shampoo and Aussie Body Building Formula Shampoo were their first and second choice. These results suggest that these consumers are: a. attribute loyal b. brand loyal c. product loyal d. All of the above are correct. e. It is impossible to predict from this type of research question. a POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Research CB&C Model Strategy Bloom's: Comprehension 63. Tammy really likes Diet Coke. When Diet Coke isn't available Tammy chooses Coke Zero or Caffeine Free Diet Coke. In terms ofloyalty, Tammy is: a. attribute loyal b. brand loyal c. product loyal d. low in brand resonance e. All of the above are correct. b POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Marketing Plan CB&C Model Product CB&C Model Strategy Bloom's: Comprehension 64. The makers of Pantene Hair Care products was interested in determining types of loyalty in its target market. Using marketing research, they asked customers to indicate their first choice and their second choice from among a list of brands and brand extensions. The majority of the participants indicated that Pantene Body Rich Shampoo and Pantene Body Building Mousse were their first and second choice. These results suggest that these consumers are: a. attribute loyal b. brand loyal c. product loyal d. All of the above are correct. e. It is impossible to predict from this type of research question. b POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Product CB&C Model Research CB&C Model Strategy Bloom's: Comprehension 65. If the vast majority of a brand's customers are brand loyal, what should a marketer do? a. Harvest the brand b. Increase the product line c. Develop as few brand extension as possible d. Maintain a narrow product line to avoid cannibalization e. Stop promoting the brand because it is a waste of money d POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.03- 03.03 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Strategy Bloom's: Comprehension 66. Which of the following is not a way for a market leader to prevent change? a. Remind the customer to "stick with what works" b. Engage in blind taste tests to prove to current customers your brand is best c. Make price comparisons difficult d. Differentiate using ambiguous or irrelevant attributes e. All of the above are ways for market leaders to prevent change. POINTS: DIFFICULTY: b 2 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.04- 03.04 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Strategy Bloom's: Knowledge 67. People often fmd it easier to identify and interpret information that supports their current beliefs. This concept is know as: a. truth effect b. confmnation bias c. halo effect d. Miller's rule e. brand resonance effect b POINTS: 2 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.ll.03.04- 03.04 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 68. Which of the following is not a way for a market underdog to encourage change? a. Run comparative advertisements b. Engage in blind taste tests to prove to current customers your brand is best c. Make price comparisons difficult d. Encourage customers to challenge their current beliefs and choices e. Explore the use of unusual distribution channels c POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.04- 03.04 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Strategy Bloom's: Comprehension 69. If a marketer is trying to retain and extend demand among current customers, what pricing strategy and channel strategy should be pursued, according to your readings? a. Trial pricing and a long channel b. Continuity pricing and a long channel c. Trial pricing and a short channel d. Continuity pricing and a short channel e. None of the above are correct. b POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.ll.03.05- 03.05 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Distribution CB&C Model Marketing Plan CB&C Model Pricing CB&C Model Strategy Bloom's: Comprehension 70. Which of the following is not a retention strategy? a. Enacting a customer loyalty program b. Giving discounts when customers buy in larger quantities c. Getting customers to "trade up" to more expensive products in the product line d. Developing new uses for a product e. All of the above are retention strategies. POINTS: DIFFICULTY: e 2 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.05- 03.05 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Strategy Bloom's: Knowledge 71. The makers oflrish Spring Soap offer a lower price to consumers if they purchase 10 bars of soap at a time. This pricing strategy is called: a. continuity pricing b. unit pricing c. trial pricing d. loyalty pricing e. confrnnation pricing POINTS: DIFFICULTY: a 2 Moderate LEARNING OBJECTIVES: COBE.KARD.ll.03.05- 03.05 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Pricing CB&C Model Strategy Bloom's: Knowledge 72. is offering a price so low that it encourages potential new customers to purchase. a. Continuity pricing b. Unit pricing c. Trial pricing d. Loyalty pricing e. Confrnnation pricing c POINTS: 2 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.ll.03.05- 03.05 NATIONAL STANDARDS: United States- BUSPROG: Analytic:- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Pricing CB&C Model Strategy Bloom's: Knowledge 73. List the steps of the diffusion of innovation curve and the product life cycle curve. POINTS: 74. List the four basic entry strategies that accompany each stage of the diffusion of innovation curve. 75. Explain the difference between harvesting and rejuvenating a product. 76. How can a product be rejuvenated? 77. Discuss the ways identified in your readings that managers can build strong brand names for their products. Provide an example of a brand that performs well on at least 2 of these dimensions. KEYWORDS: 78. Defme brand equity. 79. What does the Young Rubicarn Brand Asset Valuator measure? 80. What factors increase the likelihood of brand cannibalization? 81. Gatorade is a leading brand of sports beverage. How should Gatorade maintain their leadership position? 82. Riley's shoes is an underdog brand of shoes. How can Riley's try to gain a stronger position in the marketplace? 83. Review the recommendations in your readings that marketers should use to acquire new customers and retain old customers. [Show More]

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