Exam 11: Developing and Managing Brand and Product Strategies

The number of product liability lawsuits has fallen in recent years thanks to better-designed products and more detailed regulations.

A rise in perceived quality or public opinion about a brand does not affect its esteem.

What does trade dress refer to?

What was the original purpose of packaging?

What does the Trade-marks Office provide for trademark holders?

What carries an item's brand name or symbol, the name and address of the manufacturer or distributor, information about the product's composition and size, and recommended uses?

At present, the most widely recognized brand name in the world is McDonald's.

What has a product that has achieved the status of brand insistence also achieved?

A national brand defines the image most people form when they think of a brand.

An effective label performs both promotional and informational functions.

The consumer adoption process describes the acceptance of new products by members of the community or social system.

A company extends a brand by attaching unrelated products to a known brand name for instant recognition.

A brand is considered to be global if 50 percent of its sales come from outside the home country.

Jim stops at the local convenience store on his way home to buy laundry detergent. He goes in thinking he'll purchase his usual brand, but ends up buying another because it is on sale. What is this an example of?

At what stage in the consumer adoption process do buyers consider the likely benefits of the product?

In addition to cars and motorcycles, Honda offers a line of power equipment, including lawnmowers. All carry the Honda family brand name. This is an example of market penetration strategy.

General Motors Automobiles acquired Hughes Aircraft Corporation, a firm that makes aircraft components and electronics. What product development strategy is this acquisition an example of?

A product has attained a monopoly position with its consumers when the brand loyalty stage of brand insistence has been achieved.

The consumer adoption process spans from awareness of a product to its acceptance or rejection after a purchase has been made.

Even if a new product tests well in the market and reaches the commercialization stage, it may still not be an instant success.