Exam 11: Developing and Managing Brand and Product Strategies

What does the product development strategy of product positioning refer to?

More than 90 percent of cereal is consumed at breakfast, but ads for Kellogg's Cracklin' Oat Bran say it tastes like oatmeal cookies and makes "a great snack anytime." What strategy is Kellogg's implementing with this product?

Laura wants a particular brand of golf ball, but her local pro shop is sold out. Instead, she buys a substitute. What is Laura's behaviour an example of?

What is the strategy of attaching a popular brand name to a new product in an unrelated product category is known as?

The screening and business analysis stages of new-product development, determine the product's financial and technical requirements.

What is the systematic approach to new product development called in which products are developed in an orderly series of steps from one department to the next?

In the context of the consumer diffusion process, what is the final group of consumers that make trial purchases of a new product called?

Which of the following items would seldom be test-marketed?

Which product is most likely to achieve the status of brand insistence?

Which statement best describes category management?

Which statement best describes consumer innovators?

A working prototype of a proposed product must be available for examination by the members of focus groups for concept testing to be valid.

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) _____ strategy focuses on developing entirely new products for new markets.

What is the leaping jaguar hood ornament featured on cars of the same name an example of?

A company introduced a new low-calorie version of one of its popular cold drinks. As a result, the sales of the original cold drink started decreasing because consumers preferred its low calorie version. What is this situation is known as?

The Universal Product Code (UPC) was introduced as a means of reducing labour expenses in the grocery industry.

What are category managers responsible for?

The Food and Drugs Act regulates the information required on the labels of food, drugs, cosmetics, and medical devices.

Product managers have oversight and profit responsibility for their entire product line or distribution channel.

Companies test market their new-product offerings to measure consumer reactions under normal competitive conditions.