Exam 16: Consumer Behavior and Branding Strategy

Trialability is the ease with which a consumer can try or use a new product.

Ambiguity and confirmation bias favor strong and weak brands.

Discuss the ways identified in your readings that managers can build strong brand names for their products. Provide an example of a brand that performs well on at least 2 of these dimensions.

During the growth phase of the product life cycle, the marketing manager should focus primarily on:

The introduction stage of a product usually generates high profits.

A product with a _____ relative advantage _____ the diffusion rate

Reducing price is one way to rejuvenate a product.

People often find it easier to identify and interpret information that supports their current beliefs. This concept is known as:

According to the Young and Rubicam Brand Asset Valuator, brand strength equals:

Acquisition and retention strategies usually rely on the use of similar marketing activities.

According to your readings, which of the following factors does not help a firm control costs associated with product line breadth?

Adding a brand name can sometimes rejuvenate generic products.

Brands that are low in brand strength but high brand stature are usually strong niche brands.

How can a product be rejuvenated?

Riley's shoes is an underdog brand of shoes. How can Riley's try to gain a stronger position in the marketplace?

When a new product is first introduced to the market, the marketing manager should focus primarily on:

If the vast majority of a brand's customers are brand loyal, what should a marketer do?

During the introduction stage of the product life cycle, managers should focus on reducing production and marketing costs.

Which of the following is not a strategy for extending the product life cycle and rejuvenating a product?

Offering a lower price when a consumer purchases multiple units at one time is called continuity pricing.