Exam 10: Developing and Managing Brand and Product Strategies

The more complex a new product is by comparison with existing products, the more rapidly it will be adopted by consumers.

Family brands can be used effectively for any product, regardless of type, price, or quality.

General Motors Automobiles acquired Hughes Aircraft Corporation, a firm that makes aircraft components and electronics.What product development strategy is this acquisition an example of?

Josh usually buys one brand of orange juice but, occasionally, will buy a competitive brand if it's on sale.Josh is exhibiting brand insistence.

Overextension of a brand name through a manufacturer's marketing efforts can result in a decrease in the equity of the brand.

Once consumers have used a product, seen it advertised, or noticed it in a store, it moves from the unknown to the known category, which increases the probability that they will purchase it.

What is the purpose of test-marketing?

What is a trade name?

The Debbie Travis line of paints and home décor products is available only through Canadian Tire stores.What is this type of product distribution strategy?

More than 90 percent of cereal is consumed at breakfast, but ads for Kellogg's Cracklin' Oat Bran say it tastes like oatmeal cookies and makes "a great snack anytime." What strategy is Kellogg's implementing with this product?

The Universal Product Code (UPC) was introduced as a means of reducing labour expenses in the grocery industry.

A manufacturer's brand that was once widely distributed but is now limited to one or two retail outlets exclusively is called a captive brand.

Buyers rarely identify the brand with the manufacturer.

What is experienced by potential users when a new product innovation is consistent with the values and experiences of potential adopters?

Discuss the levels of brand loyalty.

The Kirkland brand is owned by Costco, and the products can be purchased only at Costco stores.Costco contracts with manufacturers to produce and package products under the Kirkland name.What is this arrangement called?

What is a brand? Why is branding important?

Virtually all new products, regardless of cost or complexity, are subjected to a test-marketing program.

What can potential buyers do that might increase the rate of adoption?

Which of the following is NOT a brand name that became generic over time?