Question 1

Describe the McDonald's product mix and explain how this mix meets the needs of the various target markets served by this fast-food restaurant.

Accepted Answer

A product mix is the total range of products offered for sale by a company. Each appeals to a particular segment and, collectively, the mix differentiates the company from its competition. McDonald's appeals to many segments and offers products to meet many diversified needs. Happy Meals are directed to children with smaller portions and the addition of a toy with each purchase. Free coffee refills for in-restaurant dining caters to seniors that meet at McDonald's in the mornings for social reasons. The introduction of healthier choices, salads, deli sandwiches, and so on are targeted to the more health-conscious parents. You could divide the mix by the various kinds of meals and snacks.

Question 2

Give an example of co-branding and explain the role it plays.

Accepted Answer

A good example of co-branding is New Belgium Brewing and Ben & Jerry's co-branding that resulted in ice cream inspired beers like Chocolate Chip Cookie Dough Ale. Both companies are registered Beneficial or "B Corporations" and are committed to benefitting society and their shareholders. This agreement is an opportunity to shape the ways that customers feel about both brands and draw attention to important environmental issues. The important consideration here is "fit," as these two brands complement each other.

Question 3

Expensive industrial goods that have a long life span are

Accepted Answer

A)  supplies. 
B)  services. 
C)  component parts. 
D)  parts and materials. 
E)  capital items. 
A)  supplies. 
B)  services. 
C)  component parts. 
D)  parts and materials. 
E)  capital items. E

Question 4

Andrew spends two hours in Canadian Tire looking for seat covers for his truck. He checks carefully to compare price, suitability to the model, quality, and style before he makes his purchase decision. For Andrew, the seat covers are a(n) ________ good.

Accepted Answer

A)  unsought 
B)  durability 
C)  shopping 
D)  staple 
E)  convenience 
A)  unsought 
B)  durability 
C)  shopping 
D)  staple 
E)  convenience

Question 5

Major automotive manufacturers use an individual brand strategy in their marketing efforts.

Accepted Answer

A) True 
 B)False

Question 6

To protect a manufacturing process or product design from being copied by competitors, a new manufacturer of skateboards should apply for

Accepted Answer

A)  brandmark designation. 
B)  product protection. 
C)  trademark registration. 
D)  copyright protection. 
E)  patent protection. 
A)  brandmark designation. 
B)  product protection. 
C)  trademark registration. 
D)  copyright protection. 
E)  patent protection.

Question 7

What is the best definition of a product in the "total product concept"?

Accepted Answer

A)  tangible goods that can be purchased to satisfy a consumer need 
B)  the total sum of a firm's manufacturing capability 
C)  all elements of the marketing mix 
D)  a bundle of tangible and intangible benefits that a buyer receives in exchange for money or other considerations 
E)  a physical item with related features that provides utility to the buyer 
A)  tangible goods that can be purchased to satisfy a consumer need 
B)  the total sum of a firm's manufacturing capability 
C)  all elements of the marketing mix 
D)  a bundle of tangible and intangible benefits that a buyer receives in exchange for money or other considerations 
E)  a physical item with related features that provides utility to the buyer

Question 8

The number of items in a company's product line is

Accepted Answer

A)  its positioning. 
B)  the total product concept. 
C)  the unique selling point. 
D)  the product line depth. 
E)  the product line width. 
A)  its positioning. 
B)  the total product concept. 
C)  the unique selling point. 
D)  the product line depth. 
E)  the product line width.

Question 9

Explain why branding can be a win-win strategy for both consumers and marketers.

Accepted Answer

Consumer advantages:
- Brands connote qu

Question 10

What is the name for products that have no brand name or identifying features?

Accepted Answer

A)  no name brand 
B)  store brand 
C)  generic brand 
D)  individual brand 
E)  private label brand 
A)  no name brand 
B)  store brand 
C)  generic brand 
D)  individual brand 
E)  private label brand

Question 11

New Belgium Brewing's launch of a Ben & Jerry's caramel beer is an example of co-branding.

Accepted Answer

A) True 
 B)False

Question 12

Given its growth and popularity, Red Bull is said to have brand equity. Assume you are a marketing manager for Red Bull. How would you measure the brand's equity?

Accepted Answer

Brand equity is defined as the value a c

Question 13

The brand name "Lean Cuisine"is effective because it is meaningful. It effectively communicates the brand's

Accepted Answer

A)  UPC. 
B)  USP. 
C)  durability. 
D)  private label. 
E)  insistence. 
A)  UPC. 
B)  USP. 
C)  durability. 
D)  private label. 
E)  insistence.

Question 14

Installations are

Accepted Answer

A)  capital items used directly in the production of another product. 
B)  seldom a decision of top managers. 
C)  an artistic display in a retail venue. 
D)  first-time capital purchases. 
E)  always custom made. 
A)  capital items used directly in the production of another product. 
B)  seldom a decision of top managers. 
C)  an artistic display in a retail venue. 
D)  first-time capital purchases. 
E)  always custom made.

Question 15

Explain how the Heinz Ketchup bottle fulfills all of the functions of a package.

Accepted Answer

A package has four basic functions: it m

Question 16

Using automobile production as an example, explain the following types of industrial goods: installations, accessory equipment, and component parts.

Accepted Answer

- Installations: major capital items use

Question 17

Processed materials are used in the production of another product but are not readily identified with the product.

Accepted Answer

A) True 
 B)False

Question 18

During the brand design process, the following stage occurs when the creative idea becomes reality.

Accepted Answer

A)  imagination 
B)  innovation 
C)  operationalization 
D)  creativity 
E)  implementation 
A)  imagination 
B)  innovation 
C)  operationalization 
D)  creativity 
E)  implementation

Question 19

Lever Brothers sells bar soap under the following brands: Dove, Lifebuoy, Caress, and Lux. This is an example of

Accepted Answer

A)  a multibrand strategy. 
B)  a family brand strategy. 
C)  a propriety brand strategy. 
D)  a licensed brand strategy. 
E)  a co-branding strategy. 
A)  a multibrand strategy. 
B)  a family brand strategy. 
C)  a propriety brand strategy. 
D)  a licensed brand strategy. 
E)  a co-branding strategy.

Question 20

Multi-branding is when a company uses different brand names for each item in a product category.

Accepted Answer

A) True 
 B)False

Describe the McDonald's product mix and explain how this mix meets the needs of the various target markets served by this fast-food restaurant.

Give an example of co-branding and explain the role it plays.

Expensive industrial goods that have a long life span are

Andrew spends two hours in Canadian Tire looking for seat covers for his truck. He checks carefully to compare price, suitability to the model, quality, and style before he makes his purchase decision. For Andrew, the seat covers are a(n) ________ good.

Major automotive manufacturers use an individual brand strategy in their marketing efforts.

To protect a manufacturing process or product design from being copied by competitors, a new manufacturer of skateboards should apply for

What is the best definition of a product in the "total product concept"?

The number of items in a company's product line is

Explain why branding can be a win-win strategy for both consumers and marketers.

What is the name for products that have no brand name or identifying features?

New Belgium Brewing's launch of a Ben & Jerry's caramel beer is an example of co-branding.

Given its growth and popularity, Red Bull is said to have brand equity. Assume you are a marketing manager for Red Bull. How would you measure the brand's equity?

The brand name "Lean Cuisine"is effective because it is meaningful. It effectively communicates the brand's

Installations are

Explain how the Heinz Ketchup bottle fulfills all of the functions of a package.

Using automobile production as an example, explain the following types of industrial goods: installations, accessory equipment, and component parts.

Processed materials are used in the production of another product but are not readily identified with the product.

During the brand design process, the following stage occurs when the creative idea becomes reality.

Lever Brothers sells bar soap under the following brands: Dove, Lifebuoy, Caress, and Lux. This is an example of

Multi-branding is when a company uses different brand names for each item in a product category.

Contemporary Marketing

The External Marketing Environment

Strategic Marketing Planning

Marketing Intelligence

Consumer Buying Behaviour

Business-To-Business Marketing and Organizational Buying Behaviour

Market Segmentation and Target Marketing

Product Management

Services and Not-For-Profit Marketing

Pricing Decisions: Objectives, Strategies and Tactics

Distribution and Supply Chain Management

Retailing

IMC: Media Advertising, Social and Mobile Communications

IMC: Sales Promotion, Public Relations, Experiential Marketing, and Personal Selling

Global Marketing

Filters

Exam 8: Product Strategy

Describe the McDonald's product mix and explain how this mix meets the needs of the various target markets served by this fast-food restaurant.

Give an example of co-branding and explain the role it plays.

Expensive industrial goods that have a long life span are

Andrew spends two hours in Canadian Tire looking for seat covers for his truck. He checks carefully to compare price, suitability to the model, quality, and style before he makes his purchase decision. For Andrew, the seat covers are a(n) ________ good.

Major automotive manufacturers use an individual brand strategy in their marketing efforts.

To protect a manufacturing process or product design from being copied by competitors, a new manufacturer of skateboards should apply for

What is the best definition of a product in the "total product concept"?

The number of items in a company's product line is

Explain why branding can be a win-win strategy for both consumers and marketers.

What is the name for products that have no brand name or identifying features?

New Belgium Brewing's launch of a Ben & Jerry's caramel beer is an example of co-branding.

Given its growth and popularity, Red Bull is said to have brand equity. Assume you are a marketing manager for Red Bull. How would you measure the brand's equity?

The brand name "Lean Cuisine"is effective because it is meaningful. It effectively communicates the brand's

Installations are

Explain how the Heinz Ketchup bottle fulfills all of the functions of a package.

Using automobile production as an example, explain the following types of industrial goods: installations, accessory equipment, and component parts.

Processed materials are used in the production of another product but are not readily identified with the product.

During the brand design process, the following stage occurs when the creative idea becomes reality.

Lever Brothers sells bar soap under the following brands: Dove, Lifebuoy, Caress, and Lux. This is an example of

Multi-branding is when a company uses different brand names for each item in a product category.

Contemporary Marketing

The External Marketing Environment

Strategic Marketing Planning

Marketing Intelligence

Consumer Buying Behaviour

Business-To-Business Marketing and Organizational Buying Behaviour

Market Segmentation and Target Marketing

Product Management

Services and Not-For-Profit Marketing

Pricing Decisions: Objectives, Strategies and Tactics

Distribution and Supply Chain Management

Retailing

IMC: Media Advertising, Social and Mobile Communications

IMC: Sales Promotion, Public Relations, Experiential Marketing, and Personal Selling

Global Marketing

Filters