Exam 19: Product Concepts

Choice Homes, Inc. Choice Homes, Inc., based in Texas, built its reputation by building high-quality new homes, often at prices less than "used" ones. Choice Homes used mass purchasing power, innovative high-tech communications among employees to coordinate the building process, and other entrepreneurial strategies to hold costs down. Its homes are primarily targeted at first-time homeowners-to-be in an effort to get people out of apartments so they can experience the "American Dream" of home ownership for the same price as rent. Choice Homes later developed the "Choice Classic" brand name for higher-end homes targeted at wealthier dual-income couples. The Choice Classic name was designed to capitalize on the reputation of Choice Homes, especially for current Choice home owners who are ready to "move up" to a larger home. Recently, Choice Homes started a third line of homes called "Reflections," which are expensive, custom-designed homes located in exclusive, prestigious neighborhoods. -Refer to Choice Homes,Inc.Choice Homes is considering the development of a new category of small homes designed to replace low-income housing in the inner city.This strategy represents a:

There are many cell phones on the market,and they vary so much on price,quality,and features that consumers often have trouble comparing them.A cell phone would probably be considered a _____ product.

Which of the following is an example of a product modification?

Maureen purchased a package of Bounce fabric sheets with Febreeze citrus scent.Since both brands were prominently listed on the package,this would be an example of:

A _____ is the part of the brand that can be spoken.

Which of the following entails placing two or more brand names on a product or its package?

When deciding on distribution plans for specialty products,companies generally ensure that the items are:

Which type of private label brand carries no evidence of a retailer's affiliation,is manufactured by a third party,and is sold exclusively at the retailer?

An elementary school teacher purchased a ream of art paper,a box of crayons,and some modeling clay.The teacher intends to use these products in her classroom,so they would be classified as business products.

A company that wants to market its product globally has only two branding strategies available: either use the brand name everywhere or develop a new brand name for each different market.

Andrea needs to find a kennel for boarding her son's dogs.There are several different kennels in her community,and Andrea believes all of them to be basically alike.The only feature she is genuinely concerned about is low price.For Andrea,the kennel for boarding dogs would be classified as a(n)_____ product.

The most important functions of packaging are to contain and protect products,promote products,facilitate product storage,and facilitate recycling.

Which of the following may qualify for trademark protection?

Statements on Kashi cereals and breakfast bars stating that they have no artificial colors,flavors,or preservatives would most likely be an example of _____ labeling.

Target stores sell many premium foods under the name Archer Farms.This brand can only be purchased in Target stores and is an example of a(n)_____ brand.

Campbell's can talk about its soups being "Mm! Mm! Good!" and promote its entire line.This is an example of:

Green is a sign of danger in some countries,so a U.S.firm that sells its goods in those countries would probably want to avoid using green on its packaging.Which aspect of packaging is addressed by this issue?

A _____ is a legal term indicating the owner's exclusive right to use a brand name or part of a brand.

The well-known Nike "swoosh" is an example of a:

Discuss the benefits for organizations by organizing related items into product lines.