Exam 10: Product, Branding, and Packaging Concepts

Nutritional information on labels is optional as consumers are indifferent to its availability.

The stage of the product life cycle when marketers consider eliminating products that are not contributing to profitability or the overall effectiveness of a product mix is the stage.

A specialty product .

A popular branding strategy involves , an agreement in which a company permits another organization to use its brand on other products for an authorizing fee.

Electronics Pro is a company that manufactures CD drives for laptop computers which are sold to major computer producers. Electronics Pro realizes that CD drives are most likely in the decline stage of the product life cycle. Which of the following steps can the company take with regard to its CD drive product?

Tojitos Mexican Restaurant purchased several large ovens for use in remodeling its kitchens. These ovens are an example of which type of business product?

Brand recognition exists when a customer is aware that the brand exists and views it as an alternative to purchase if the preferred brand is unavailable or if the other available brands are unfamiliar to the customer.

Supporting services, such as installation and guarantees, are included in products.

During the growth stage of the product life cycle, marketers must .

The first adopters of a product are the innovators.

A firm may decide that all packages should be similar and include one major element of the same design. This approach to promote an overall company image is called .

In which stage of the product life cycle do profits start to decline?

Price cuts are typical in a product's growth stage.

Scenario 10.2 Use the following to answer the questions. Traveler is a bus line operating in the Northeast and Midwestern United States, plus in Canada. It offers travelers a cheap alternative to driving and flying between large cities, keeping the fares extremely low yet offering the latest technology. Unlike the traditional StarTravel Lines, Traveler is an express service, and is equipped with Wi-Fi, video screens, headsets, and seat belts. Many buses also run on biodiesel fuel. Additionally, Traveler picks up and drops off people in the centers of cities rather than at inconveniently-located terminals. Patrons can book tickets at Traveler.com, where some fares begin at just $1. Routes are limited, and are offered out of cities such as Toronto, New York, Baltimore, Philadelphia, and Chicago. Recently, its competitor StarTravel, has launched two new bus lines, Pathfinder and Mestra, with similar fares and high-tech amenities. A fare on Mestra bus from Buffalo, NY to New York City is $50.00 roundtrip, while the same fare through Greyhound's traditional bus line costs $92.00. The benefit of StarTravel's traditional line is that there are more departure times and more stops in smaller towns along the way. -Refer to Scenario 10.2. The closest competitor for Traveler is StarTravel. StarTravel has been in business for many years, offering basic transportation services until the introduction of their new Pathfinder and Mestra. Both companies are in the bus transportation business, If Traveler is in the introduction stage, StarTravel is most likely in the stage of the product life cycle.

Scenario 10.1 Use the following to answer the questions. Gillette shaving razors were first manufactured in 1895. Over the years, Gillette made improvements on their razors offering many "firsts" such as the Mach3, the Sensor, and the Fusion. For many years, women were forced to use razors designed primarily for men, but often marketed to women by offering them in different colors and with minimal modifications. In 1998, Gillette developed the Venus razor, based on the Mach3 but made specifically for women. Gillette promoted the Venus razor heavily, with television ads and other forms of media. The Gillette product line, now owned by Procter & Gamble, continues to introduce new versions of the Venus, such as the Venus Embrace, which has additional blades and other modifications. -Refer to Scenario 10.1. Molly has been using a Bic disposable razor for her shaving needs for the last ten years. She doesn't really see the need to spend more money on razors, but she sees that it is becoming more difficult to find the Bic, and so she is considering the Venus Embrace. Molly is more likely a(n) in the product adopter categories.

A brand usually requires a producer to become involved in distribution, promotion, and pricing decisions.

The Food and Drug Administration requires that food processors indicate the amount of carbohydrates, calories, and fat in a product.

A(n) is a concept, philosophy, or image.

Jose went skiing one weekend with several of his friends. While at the slope, Jose injured his leg and needed to see a doctor. Jose is likely going to view the solutions to his problem as .

Packaging is most important, as a strategic tool, for .