Exam 11: Developing and Managing Brand and Product Strategies

What is the purpose of test-marketing?

Match each item to the statement or sentence listed below. a.brand b.brand preference c.brand insistence d.generic product e.family brand f.brand equity g.category management h.trademark i.brand extension j.consumer innovator k.diffusion process l.captive brands m.trade dress n.product liability o.brand name p.private brand q.brand manager r.cannibalization s.product liability t.brand mark u.label -A _____ is characterized by plain labels and no advertising.

Which position has profit responsibility for their product group and helps retailer in maximizing the sales for the whole group of products not just the particular manufacturer's product?

Match each item to the statement or sentence listed below. a.brand b.brand preference c.brand insistence d.generic product e.family brand f.brand equity g.category management h.trademark i.brand extension j.consumer innovator k.diffusion process l.captive brands m.trade dress n.product liability o.brand name p.private brand q.brand manager r.cannibalization s.product liability t.brand mark u.label -A _____ purchases new products as soon as they are available in the market.

Who are consumer innovators? What are their demographics? Give some examples of innovators.

Which statement best describes the role of a new product committee?

Welch's uses commercials promoting the health benefits of grape juice to target seniors and get them to purchase a product they had seldom consumed in the past. What new product development strategy is this an example of?

What is NOT a responsibility of a category manager?

Dawn, Joy, and Ivory are dish liquid brands manufactured by Proctor & Gamble. What is the branding strategy for these products?

Which statement best describes venture teams?

The more complex a new product is by comparison with existing products, the more rapidly it will be adopted by consumers.

Labelling requirements have been standardized throughout the world.

The rate at which a new product is adopted depends on, among other things, its relative advantage over previous ideas and its compatibility with existing ways of doing things.

Brand relevance refers to a brand's ability to stand apart from its competitors.

What are product managers also known as?

Brand insistence: Brand insistence is the ultimate stage in brand loyalty that leads consumers to refuse alternatives and to search extensively for the desired merchandise. A product at this stage has achieved a monopoly position with its consumers. Although many firms try to establish brand insistence with all consumers, few achieve this ambitious goal. Companies that offer specialty or luxury goods and services are more likely to achieve this status than those offering mass-marketed goods and services.

Two common categories of generic products are food items and household staples.

What can potential buyers do that might increase the rate of adoption?

The Kirkland brand is owned by Costco, and the products can be purchased only at Costco stores. Costco contracts with manufacturers to produce and package products under the Kirkland name. What is this arrangement called?

In Young & Rubicam's BrandAsset Valuator model, what is a dimension of brand personality that refers to a brand's ability to stand apart from competitors?