Exam 11: Developing and Managing Brand and Product Strategies

What is the added value called that a certain brand name gives to a product in the marketplace?

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(n) _____ consists of words or numbers that can be spoken, and identifies and distinguishes a firm's offerings from those of its competitors.

What is a new product committee?

Effective brand names do not create confusion in the minds of the consumers.

Marketers understand that packaging is primarily for protection against damage, spoilage, and pilferage of the product.

What is Bic's application of its name to disposable razors and utility lighters an example of?

When a brand name becomes the name by which a class of products is generally known, the original owner loses exclusive claim to the brand name.

Who often leads new-product development programs, including creation of new-product ideas and recommendations for improving existing products?

What are the four alternative approaches to new product development strategy? Explain each.

Tide laundry detergent commands an extremely high market share. Purchasers of the product are less sensitive to price changes, in part because of the high brand insistence rate. Based on this assessment, it can be said that Tide has extremely high brand equity.

For legal purposes, a trademark should not be the same as the trade name.

International Business Machines decided to brand its products under its acronym IBM. From a marketing perspective, why was this brand name a smart idea?

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 brand offered by a wholesaler or a retailer is called a(n) _____.

Describe brand licensing. What are the problems associated with licensing?

Overextension of a brand name through a manufacturer's marketing efforts can result in a decrease in the equity of the brand.

What type of brand should a company strongly consider when it wishes to emphasize a market segmentation strategy for its products?

The creation of a venture team by 3M Corporation to investigate a new line of adhesive products involved gathering a group of specialists from different areas of the organization, for as long a period of time as was needed, to perform the task of new product development.

What is a strategy that concentrates on finding new markets for existing products called?

What is the approximate new-product failure rate?

What type of brand are Pond's and Sunsilk beauty products, marketed by Unilever, examples of?