Exam 10: Product, Branding, and Packing Concepts

Promotion decreases in importance during a product's decline stage.

If a brand is extended too many times, one major risk is that it can lead to _____.

Which of the following products is an example of a manufacturer brand?

Aggressive pricing is typical during the ____ stage of the product life cycle.

When designing a package, which characteristic is least important?

Scenario 10.2 Use the following to answer the questions. Megabus is a bus line operating in the Northeast and Midwestern United States, plus in Canada. It offers travelers a cheap alternative to driving and flying between large cities, keeping the fares extremely low yet offering the latest technology. Unlike the traditional Greyhound Lines, Megabus is an express service, and is equipped with Wi-Fi, video screens, headsets, and seat belts. Many buses also run on biodiesel fuel. Additionally, Megabus picks up and drops off people in the centers of cities rather than at inconveniently-located terminals. Patrons can book tickets at Megabus.com, where some fares begin at just $1. Routes are limited, and are offered out of cities such as Toronto, New York, Baltimore, Philadelphia, and Chicago. Recently, its competitor Greyhound, has launched two new bus lines, BoltBus and NeOn, with similar fares and high-tech amenities. A fare on NeOn bus from Buffalo, NY to New York City is $50.00 roundtrip, while the same fare through Greyhound's traditional bus line costs $92.00. The benefit of Greyhound's traditional line is that there are more departure times and more stops in smaller towns along the way. Refer to Scenario 10.2. The closest competitor for Megabus is Greyhound Lines. Greyhound Lines has been n business for many years, offering basic transportation services until the introduction of their new BoldBus and NeOn. Even though both companies are in the bus transportation business, Greyhound Lines is most likely in the ____ stage of the product life cycle, while Megabus is in the _____ stage.

According to the text, a product is defined as

Scenario 10.2 Use the following to answer the questions. Megabus is a bus line operating in the Northeast and Midwestern United States, plus in Canada. It offers travelers a cheap alternative to driving and flying between large cities, keeping the fares extremely low yet offering the latest technology. Unlike the traditional Greyhound Lines, Megabus is an express service, and is equipped with Wi-Fi, video screens, headsets, and seat belts. Many buses also run on biodiesel fuel. Additionally, Megabus picks up and drops off people in the centers of cities rather than at inconveniently-located terminals. Patrons can book tickets at Megabus.com, where some fares begin at just $1. Routes are limited, and are offered out of cities such as Toronto, New York, Baltimore, Philadelphia, and Chicago. Recently, its competitor Greyhound, has launched two new bus lines, BoltBus and NeOn, with similar fares and high-tech amenities. A fare on NeOn bus from Buffalo, NY to New York City is $50.00 roundtrip, while the same fare through Greyhound's traditional bus line costs $92.00. The benefit of Greyhound's traditional line is that there are more departure times and more stops in smaller towns along the way. Refer to Scenario 10.2. Casey is searching the website of Megabus.com for the schedule and fares of a trip between Buffalo, NY and New York City. Casey is most likely in which of the following stages of the product adoption process?

Identify the major stages of the product life cycle, and explain how industry sales and profits vary across these stages.

A(n) ____ is a concept, philosophy, or image.

Brand licensing gives a company the ability to gain more revenue and low-cost or free promotional exposure.

Which of the following types of products would be the most difficult to brand?

Brand licensing agreements can fail for many reasons but usually not because of

Convenience products are

Which of the following is a primary factor specific to services in choosing a brand name?

The term "cultural branding" describes how a brand conveys a powerful myth that consumers find useful in cementing their identities.

A product mix is best described as

An accountant buys a supply of pencils to be used in calculating the taxes of other business firms. Based on this information, pencils in this case would be considered what type of product?

Discuss the marketing efforts that are likely to be used during the growth stage of the product life cycle.

To gain customer acceptance, the two brands involved in co-branding must represent a complementary fit in the minds of buyers.