Exam 11: Product and Branding Concepts

​Asmeret works as a hotel manager for a popular family resort and casino in Atlantic City, New Jersey. During the summer, hotel managers aim for an occupancy rate of at least 85% to ensure that overhead costs are covered. The resort is known for its quality services; guests generally return an average of three times during the summer and use their rewards and loyalty cards during their stays. On this particular day, Asmeret is quite stressed because the occupancy rate is only 65%. If the hotel fails to sell at least an additional 20% of the available rooms, she might be in some trouble. Required: Which aspect of a service is best illustrated in the scenario?

Nivea works for Bonbon, a fair-trade chocolate company based in California. In addition to being recognized for the delicious, low fat treats the company manufactures, Bonbon is also known for fair labor practices at its factories. When interviewed, 83% of the company's loyal customers said when they couldn't find Bonbon products for purchase in local stores, they ordered them online rather than buy substitute products. ​ Which type of brand loyalty is illustrated here?

Providers can maintain inventories of their services.

As a marketer tasked with developing the packaging of the food products your company makes, you are concerned with all of the following except:

Staples are convenience goods and services that consumers constantly replenish to maintain a ready inventory.

Merrill Lynch's bull logo cannot be considered a part of the product's trade dress.

Christopher is a hair stylist owns Curlz, the best salon in Los Angeles. The clients swear by Christopher, and brides and bridesmaids flock to him for all weddings in LA. Christopher's name has become synonymous with the service at Curlz. Which of the following characteristics of services best explains this association?

Which of the following products would generally be considered as a staple?

How can we distinguish services from goods? Give an example of how buyers can play an important role in the creation of services.

When people see Coca-Cola on the shelves of their local supermarkets, they remember fond childhood memories of drinking Coke and fun Christmas commercials with polar bears and Santa Claus. Though other cola beverages may win blind taste tests over Coca Cola, consumers tend to have an emotional relationship with Coke, which gives the product a competitive edge on the market. ​ Which of the following aspects of a product is described here?

A college education is an example of a pure product on the goods-services continuum.

Explain how a strong brand identity benefits firms in marketing their products.

The classification system for business products emphasizes customer buying behavior rather than product uses.

A chocolate bar bought while standing in the checkout line is an example of staples.

Line extension is the strategy of attaching unrelated products to a known brand name to gain instant recognition for the new offerings.

Discuss the four dimensions of brand personality as described by the Young & Rubicam Brand Asset Valuator model.

Using the consumer products classification system, which of the following is true of the marketing mix factors for a specialty product?

What is a label? How does it assist in the marketing of the product?

Production of private-label goods helps manufacturers reach additional market segments.

Josh usually buys one brand of orange juice but, occasionally, will buy a competitive brand if it's on sale. Josh is exhibiting brand insistence.