Exam 11: Developing and Managing Brand and Product Strategies

What level of brand loyalty are luxury items often representative of?

Identify and describe the organizational entities used in new product development.

A trademark is a brand for which the owner claims exclusive legal protection.

What is experienced by potential users when a new product innovation is consistent with the values and experiences of potential adopters?

When does a new product innovation possess relative advantage?

A retailer owns a trademark for a private brand, which indicates that all products packaged under this brand are sold only through its stores.

A brand name differs from a brand mark in that the name can receive legal protection, but the mark cannot.

A brand is said to have high relevance if a large number of consumers feel the need for the benefits offered by the brand.

Marketers attempt to place purchasers into categories in the diffusion process depending on their relative time of adoption. Since the categories are based on a normal distribution, the distribution's properties are used to partition them.

Which action is NOT one of the stages of consumer adoption?

Why does the complexity of an innovation affect its adoption rate?

What term refers to the numerical bar code system used to record product and price information?

In the awareness phase of the consumer adoption process, consumers make a trial purchase of an item to determine its usefulness.

A brand name must qualify for legal protection.

Responding to moviegoers' recently revived interest in the 3D format, Panasonic introduced the world's first 3D home entertainment system. What is the strategy used by Panasonic is an example of?

Small manufacturers usually assign a category manager to each major channel such as grocery stores or drugstores, instead of each retail chain.

What is locating new markets for existing products called?

The Debbie Travis line of paints and home décor products is available only through Canadian Tire stores. What is the distribution strategy for this type of product?

Which of the following is a crown corporation that oversees the standards system in Canada?

Apex Corp. has been manufacturing furniture for past several years. Now in order to grow its business, the company has decided to manufacture curtains and bed sheets. What strategy is the company using to target new markets?