Question 1

Trialability of a new product tends to be lower for inexpensive products than for expensive products.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is not a way for a market leader to prevent change?

Accepted Answer

A)  Remind the customer to "stick with what works" 
B)  Engage in blind taste tests to prove to current customers your brand is best 
C)  Make price comparisons difficult 
D)  Differentiate using ambiguous or irrelevant attributes 
E)  All of the above are ways for market leaders to prevent change. 
A)  Remind the customer to "stick with what works" 
B)  Engage in blind taste tests to prove to current customers your brand is best 
C)  Make price comparisons difficult 
D)  Differentiate using ambiguous or irrelevant attributes 
E)  All of the above are ways for market leaders to prevent change.

Question 3

People who drive BMW's report feeling like important people when they drive their cars. This represents a strong brand meaning.

Accepted Answer

A) True 
 B)False

Question 4

Commodities don't follow the product life cycle.

Accepted Answer

A) True 
 B)False

Question 5

Marketers can best influence the diffusion rate early in the introduction stage by identifying and marketing toward what group of consumers?

Accepted Answer

A)  Early adopters 
B)  Innovators 
C)  Laggards 
D)  Majority buyers 
E)  None of the above are correct. 
A)  Early adopters 
B)  Innovators 
C)  Laggards 
D)  Majority buyers 
E)  None of the above are correct.

Question 6

Brand identify refers to the feelings and emotions consumers have about your brand.

Accepted Answer

A) True 
 B)False

Question 7

Brand meaning depends on the strength and nature of the image of the brand in terms of objective quality and performance.

Accepted Answer

A) True 
 B)False

Question 8

The "decline" stage is the last stage of the product life cycle.

Accepted Answer

A) True 
 B)False

Question 9

_____ is offering a price so low that it encourages potential new customers to purchase.

Accepted Answer

A)  Continuity pricing 
B)  Unit pricing 
C)  Trial pricing 
D)  Loyalty pricing 
E)  Confirmation pricing 
A)  Continuity pricing 
B)  Unit pricing 
C)  Trial pricing 
D)  Loyalty pricing 
E)  Confirmation pricing

Question 10

Gatorade is a leading brand of sports beverage. How should Gatorade maintain their leadership position?

Accepted Answer

Student answers will vary but

Question 11

Brands that are high in brand strength and brand stature have the greatest amount of equity to protect and leverage.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is not a way for a market underdog to encourage change?

Accepted Answer

A)  Run comparative advertisements 
B)  Engage in blind taste tests to prove to current customers your brand is best 
C)  Make price comparisons difficult 
D)  Encourage customers to challenge their current beliefs and choices 
E)  Explore the use of unusual distribution channels 
A)  Run comparative advertisements 
B)  Engage in blind taste tests to prove to current customers your brand is best 
C)  Make price comparisons difficult 
D)  Encourage customers to challenge their current beliefs and choices 
E)  Explore the use of unusual distribution channels

Question 13

According to the Young and Rubicam Brand Asset Valuator, brand differentiation is:

Accepted Answer

A)  how unique the brand is 
B)  how useful the brand is 
C)  how clear or consistent the brand image is 
D)  how much brand resonance the brand has 
E)  how much relevance the brand has 
A)  how unique the brand is 
B)  how useful the brand is 
C)  how clear or consistent the brand image is 
D)  how much brand resonance the brand has 
E)  how much relevance the brand has

Question 14

Explain the difference between harvesting and rejuvenating a product.

Accepted Answer

Harvesting involves minimizing cost so t

Question 15

_____, which is the ease with which consumers can sample or use a new product innovation, _____ the diffusion rate.

Accepted Answer

A)  Relative advantage; increases 
B)  Complexity; increases 
C)  Trialability; increases 
D)  Relative advantage; decreases 
E)  Trialability; decreases 
A)  Relative advantage; increases 
B)  Complexity; increases 
C)  Trialability; increases 
D)  Relative advantage; decreases 
E)  Trialability; decreases

Question 16

Retention strategies focus on keeping existing customers.

Accepted Answer

A) True 
 B)False

Question 17

Which new product entry strategy is most appropriate when the product is expected to have a relatively short product life cycle?

Accepted Answer

A)  Moderate takeoff 
B)  Rapid acceleration 
C)  Maximum penetration 
D)  Long-run franchise 
E)  Rejuvenation 
A)  Moderate takeoff 
B)  Rapid acceleration 
C)  Maximum penetration 
D)  Long-run franchise 
E)  Rejuvenation

Question 18

Which new product entry strategy is most closely associated with the maturity stage of the diffusion of innovation curve?

Accepted Answer

A)  Rapid takeoff 
B)  Rapid acceleration 
C)  Maximum penetration 
D)  Long-run franchise 
E)  Rejuvenation 
A)  Rapid takeoff 
B)  Rapid acceleration 
C)  Maximum penetration 
D)  Long-run franchise 
E)  Rejuvenation

Question 19

One way to measure brand equity is to compare consumers' evaluations of a product with a brand name against a generic no-name product in the same category.

Accepted Answer

A) True 
 B)False

Question 20

Procter and Gamble offers over 10 different diaper products. Unfortunately, many of these product are similar and compete with each other. This is an example of what concept?

Accepted Answer

A)  Asset over-valuation 
B)  Diffusion failure 
C)  The sales-cost trade-off 
D)  Cannibalization 
E)  The majority fallacy 
A)  Asset over-valuation 
B)  Diffusion failure 
C)  The sales-cost trade-off 
D)  Cannibalization 
E)  The majority fallacy

Trialability of a new product tends to be lower for inexpensive products than for expensive products.

Which of the following is not a way for a market leader to prevent change?

People who drive BMW's report feeling like important people when they drive their cars. This represents a strong brand meaning.

Commodities don't follow the product life cycle.

Marketers can best influence the diffusion rate early in the introduction stage by identifying and marketing toward what group of consumers?

Brand identify refers to the feelings and emotions consumers have about your brand.

Brand meaning depends on the strength and nature of the image of the brand in terms of objective quality and performance.

The "decline" stage is the last stage of the product life cycle.

_____ is offering a price so low that it encourages potential new customers to purchase.

Gatorade is a leading brand of sports beverage. How should Gatorade maintain their leadership position?

Brands that are high in brand strength and brand stature have the greatest amount of equity to protect and leverage.

Which of the following is not a way for a market underdog to encourage change?

According to the Young and Rubicam Brand Asset Valuator, brand differentiation is:

Explain the difference between harvesting and rejuvenating a product.

_, which is the ease with which consumers can sample or use a new product innovation, _ the diffusion rate.

Retention strategies focus on keeping existing customers.

Which new product entry strategy is most appropriate when the product is expected to have a relatively short product life cycle?

Which new product entry strategy is most closely associated with the maturity stage of the diffusion of innovation curve?

One way to measure brand equity is to compare consumers' evaluations of a product with a brand name against a generic no-name product in the same category.

Procter and Gamble offers over 10 different diaper products. Unfortunately, many of these product are similar and compete with each other. This is an example of what concept?

The Study of Consumer Behavior

Consumer Segmentation and Positioning

Overview of Consumer Decision Making

Consumer Evaluation and Choice

Risk and Consumer Decision Making

Consumer Perception and Attention

Persuasion: Attitudes and Judgment

Affect and Motivation

The Role of Learning and Memory

Automatic Information Processing

The Role of Personality and Self-Concept

The Role of Values and Culture

Persuasion Through Social Influence

Contemporary Marketing Strategies

Consumer Behavior Online

Biases in Managerial Decision Making

Strategies for Improving Managerial Decision Making

Filters

Exam 16: Consumer Behavior and Branding Strategy

Trialability of a new product tends to be lower for inexpensive products than for expensive products.

Which of the following is not a way for a market leader to prevent change?

People who drive BMW's report feeling like important people when they drive their cars. This represents a strong brand meaning.

Commodities don't follow the product life cycle.

Marketers can best influence the diffusion rate early in the introduction stage by identifying and marketing toward what group of consumers?

Brand identify refers to the feelings and emotions consumers have about your brand.

Brand meaning depends on the strength and nature of the image of the brand in terms of objective quality and performance.

The "decline" stage is the last stage of the product life cycle.

_____ is offering a price so low that it encourages potential new customers to purchase.

Gatorade is a leading brand of sports beverage. How should Gatorade maintain their leadership position?

Brands that are high in brand strength and brand stature have the greatest amount of equity to protect and leverage.

Which of the following is not a way for a market underdog to encourage change?

According to the Young and Rubicam Brand Asset Valuator, brand differentiation is:

Explain the difference between harvesting and rejuvenating a product.

_____, which is the ease with which consumers can sample or use a new product innovation, _____ the diffusion rate.

Retention strategies focus on keeping existing customers.

Which new product entry strategy is most appropriate when the product is expected to have a relatively short product life cycle?

Which new product entry strategy is most closely associated with the maturity stage of the diffusion of innovation curve?

One way to measure brand equity is to compare consumers' evaluations of a product with a brand name against a generic no-name product in the same category.

Procter and Gamble offers over 10 different diaper products. Unfortunately, many of these product are similar and compete with each other. This is an example of what concept?

The Study of Consumer Behavior

Consumer Segmentation and Positioning

Overview of Consumer Decision Making

Consumer Evaluation and Choice

Risk and Consumer Decision Making

Consumer Perception and Attention

Persuasion: Attitudes and Judgment

Affect and Motivation

The Role of Learning and Memory

Automatic Information Processing

The Role of Personality and Self-Concept

The Role of Values and Culture

Persuasion Through Social Influence

Contemporary Marketing Strategies

Consumer Behavior Online

Biases in Managerial Decision Making

Strategies for Improving Managerial Decision Making

Filters

_, which is the ease with which consumers can sample or use a new product innovation, _ the diffusion rate.