Exam 11: Product and Promotion: Creating and Communicating Value

How do consumer products and business products differ?

Extensive product lines are always a better strategy than smaller product lines.

Trade shows are designed to allow firms to promote their products directly to final consumers.

Accessory equipment includes smaller, movable capital purchases, designed for a shorter productive life than installations.

Determining the best promotional mix is a relatively straightforward process that involves applying three simple rules.

Explain the differences and similarities between line extensions and brand extensions.

In an effort to design innovative new products, what have several leading-edge companies-including Electronic Arts, GE, and BMW-begun doing?

SEO involves taking specific steps to ensure that your website appears high on the list when customers look for your product or service via an Internet search engine such as Google.

Which advertising medium would be most appealing to someone who has a very limited advertising budget?

Personal selling is considered the world's oldest form of promotion and involves face-to-face presentation of products and services to potential buyers.

What is the goal of integrated marketing communication (IMC)?

Diffusion is the rate at which products are adopted in the market.

The development of a positioning statement occurs at the beginning of the creative development process.

Which of the following includes small, movable capital purchases that are designed for a relatively short productive life?

What do gasoline for a car, ketchup for French fries, and a woman's scarf have in common?

For a business to thrive long-term, effective new product development is vital.

Which of the following is considered a high-growth area in Internet advertising?

Unsought products are those goods and services that consumers purchase only out of necessity. Traditionally, these products require little marketing and are quite easy to sell.

List and describe the four different categories of consumer products, and provide at least one example to illustrate each category.

Large firms typically ensure a consistent product strategy by limiting the source of new product ideas to their research and development department.