Exam 11: Product and Branding Concepts

Which of the following is most likely to be categorized as a consumer product as well as a business product?

The term _____ is used by marketers to refer to the visual components that contribute to the overall look of a brand.

Which of the following terms refers to the specialty products of the business market?

The market shares for generic products generally increase during economic downturns but usually decrease when the economy improves.

The cost of installations for business services is generally high because they tend to be part of a company's capital investment strategy. Which of the following statements is true of installations?

Brand extension is the strategy of developing individual offerings that appeal to different market segments while remaining closely related to the existing product line.

According to the Young & Rubicam's BrandAsset Valuator model, the _____ dimension of a brand personality is a combination of perceived quality and consumer perceptions about its growing or declining popularity.

​Dave is a consultant who advises manufacturers on issues related to maintenance, repair, and operations in their factories. Dave supplies a(n):

You are a rising star in the purchasing department at your company and you have recently been promoted to manager of business services procurement. As your title suggests, you will be responsible for purchasing business services for your firm. Required: Which of the following statements is true regarding your new role?​

Shopping products typically cost less than convenience purchases.

A product that has attained a monopoly position with its consumers is in the brand preference stage of brand loyalty.

Define consumer products and business products. Explain the different types of consumer products. Give an example of each from your recent purchasing activities.

Manufacturers' brands are also called national brands.

According to the Young & Rubicam's BrandAsset Valuator model, the _____ is a dimension of brand personality that refers to the extent of consumer awareness of a brand and the understanding of what a good or service represents.

Consumers at the _____ level of brand loyalty, rely on previous experiences with the product when choosing it, if available, over competitors' products.

Makers of generic products are dependent on brand loyalty for their marketing success.

Fears of product tampering have forced many firms to improve package designs.

A market penetration strategy seeks to increase sales of existing products in existing markets.

Restaurant chains often use the same room decor and dining menu at all their locations in an attempt to standardize the services they offer.

The seller's image is very important for those marketers who sell convenience products.