Exam 12: Product and Promotion: Creating and Communicating Value

_____ are brands that a producer owns and markets.

The physical good or delivered service that provides a core benefit is called the _____ product.

A product in the _____ stage of the product life cycle typically experiences periods of rising sales and profits.

Quality level is defined by how well a product performs its core function.

Lisa is planning to buy a Drof automobile. She has already visited the Drof website and is paying more attention to Drof ads in magazines and on television. She is planning on visiting a Drof dealership in the next few days to talk to a salesperson. If Drof uses integrated marketing communication, its goal will be to coordinate the messages Lisa receives through each of these sources.

Typically profits peak in the growth stage of a product's life cycle.

_____ is a personal selling trend that primarily involves shifting the focus from the products to the customers.

Continuous innovation involves slight modifications of existing products.

_____ typically integrates advertising of branded products into interactive games.

Core benefits are provided by augmentations to the actual product.

Network television and gasoline­powered cars are both in the maturity stage of their product life cycles in the United States.

The testing stage of the new product development process involves making prototypes, or samples, that consumers can actually test.

Four years ago, Elliv­Belle Industries introduced a fuel cell that households can use to generate their own low­cost electricity without having to buy power from electric utility companies. The product has been successful and is already in the growth stage of its life cycle. During this stage, the product is likely to have the market all to itself, because competing products normally aren't introduced until the maturity stage.

The fact that your favorite ice cream company regularly releases new flavors indicates that it is following a strategy of _____.

Using integrated marketing communication involves creating different product messages for different media in order to adjust for the unique strengths and weaknesses of each medium.

Crunch Lite produces six different flavors of sugar­free cookies for the diabetic population. The company also produces a large assortment of chocolates targeted at the same population. The sugar­free cookies and chocolates that Crunch Lite produces represent the _____ of the company.

_____ are large capital purchases designed for a long, productive life. Their marketing emphasizes personal selling and customization.

A positioning statement is a non­paid message found in a news article.

Brand equity is the overall value of a brand to an organization.

An important idea behind integrated marketing communication is to: