Exam 12: Product and Promotion: Creating and Communicating Value

Joel wants to buy his best friend a home audio system for his birthday. He visits a few electronic stores and looks at different brands of audio systems and compares their prices. He finally purchases a wireless Bluetooth home audio system from a store that offers good quality within a reasonable price. In the context of product classifications, Joel's purchase falls under the category of _____.

Zefie is a mobile application that has been recently launched in the market. The application becomes popular among the youth, but the usage is almost nil among the other age groups. In this case, Zelfie is experiencing a slow _____ rate.

Which of the following is true of augmented products?

Livesheer, a youth-focused clothing brand, signs a contract with the organizers of a music festival. Under the contract, the organizers of the music festival promise to display the brand's banners across the venue. Also, as part of its promotional strategy, Livesheer distributes some of its goodies for free among the crowd. This scenario exemplifies _____.

Chromiate, a digital camera brand, decides to introduce a new MP3 player, GiZmo, under its brand name. Chromiate's decision is an example of brand extension.

In the growth stage of the product life cycle, competition:

Donton Inc., a public relations firm, buys doughnuts for an office party. In this case, Donton has purchased a _____.

Operos, a laptop manufacturing company, introduces three new colors-midnight blue, aquamarine, and hot pink-in its Z Series laptops. This scenario reflects _____.

Which of the following is true of public relations?

Manufacturers rarely emphasize packaging because this aspect of the product has little relevance to a customer's decision-making process.

Which of the following is a traditional promotional tool?

The physical good or delivered service that provides a core benefit is called the _____.

A fast-food restaurant serves the student community within a university campus. The restaurant newly introduces pocket-friendly combo meals in its menu. The meals become so popular that the rest of the items on the menu are rarely ordered. Which of the following is being exemplified in this scenario?

The product design team of a cosmetics manufacturing company presents its ideas for a new product. The team provides the management with detailed descriptions of each concept with specific product features. The team also makes a few samples that consumers can actually test. Given the information, the company is most likely in the _____ stage of the new product development process.

A fitness equipment manufacturing company initiates its new product development process. The management, along with the product design team of the company, makes estimated cost budgets for each of the potential products. This is an important part of the process as it helps the management in assessing whether the company can afford the new product. In the context of the given scenario, the company is most likely in the _____ stage of the new product development process.

Team selling works best for:

Dominic is the owner of Della Robotics, a business that deals in industrial robots that are mostly sold to the manufacturing industry. The strong point of Dominic's business is that he personally contacts his buyers and takes part in the negotiation process. Moreover, his company customizes the robots. In this scenario, the product manufactured by Della Robotics falls under the category of _____.

Which of the following is true of a goods and services spectrum?

Glinda goes to the supermarket for her monthly grocery shopping. As she waits in the line at the cash register, she sees her favorite kiwi-flavored candies on a stand and puts some into her shopping cart. In the context of product classifications, the candies purchased by Glinda are _____.

My Bonnie Lass, a cosmetics company, associates with a perfume brand called Lonalove to launch a face powder that is scented with one of Lonalove's signature perfumes. This new product becomes immensely popular among consumers and both the companies benefit from it. This scenario is an example of _____.