Exam 8: Elements of Product Planning for Goods and Services

Boatwright College gives manufacturers of clothing and gift items permission to place the college's name and emblem on a wide variety of merchandise. In return, Boatwright is paid a fee for granting this permission. In this case, the Boatwright name and logo is a(n):

Consumer product classes are based on ______________, while business product classes are based on ______________.

The Federal Fair Packaging and Labeling Act:

Brand equity is likely to be lower if customers insist on buying a product and retailers are eager to stock it.

Wu Chen frequently travels to Caracas, Venezuela where the only hotel he will stay at is the Crown Prince Hotel. His level of brand familiarity toward the Crown Prince Hotel is ______

The Federal Fair Packaging and Labeling Act of 1966 requires that consumer products be clearly labeled in understandable terms.

Customers view regularly unsought products as

Sellers pay a fee to use the "Sunkist" brand on more than 400 products in 30 countries. Sunkist is a(n) ___________ brand.

Use this information for question that refer to the Sunny Day Foods (SDF) Case. For six months Kim Wu has been working for Sunny Day Foods (SDF), a fast-growing manufacturer of organic foods. After graduating college, she worked for four years as a sales rep for a nationally known food company. But, she jumped at the chance when SDF contacted her about becoming marketing manager for its breakfast foods division, which sells dry cereals and a pancake mix. Kim spent the first few months on the job trying to better understand SDF, its product line, and marketing strategy. She reviewed the company's past marketing research, commissioned new research, and talked to both consumers and retailers. Now, the CEO of the company wants her thoughts on what the company's marketing strategy should be for the next few years. Her research indicates that among cereal customers there are at least five segments of customers who use SDF products. A. One segment, the loyalists, has a strong preference for one or two of the SDF cereals. These customers often go out of their way to visit a store with their favorite SDF cereal and buy only that product at the store. B. Another segment, the regulars, buys SDF cereals without much thought. For them it is just part of their routine and, if you ask them why they pick the cereal, they'd say it's just a habit. C. A third segment, the deal prone, sees SDF cereals as just another organic cereal. They view all organic cereals as pretty much the same and buy whichever brand seems to offer the best deal that week. D. A fourth segment, the politicos, consists of former buyers of SDF cereals. A few years ago the company took a strong stand in a presidential race - and these customers resented it. Now, they boycott all SDF foods because of that incident. E. A fifth segment, SDF who?, is made up of consumers who buy organic cereals but who don't have much awareness of particular organic brand names. In reviewing how SDF currently brands its products, Kim sees that it is using several different approaches. The Sunny Day Foods brand is used on most products the company sells. But a few years ago the company brought out an instant organic oatmeal with the Hot 'n Healthy name. SDF also makes cereal sold by a health food chain; the package for that chain uses the store's own name, Nature's Foods, as the brand name for the cereal. What best describes the level of brand familiarity that customers in "the loyalists" segment have with SDF?

When comparing two similar products, the product with the most features is the higher quality product.

A firm can lose all rights to a brand name if the name becomes a common descriptive term for that kind of product.

Emergency products:

Consumer products that a customer feels are worth the time and effort to compare with competing products are shopping products.

Which of the following would be MOST LIKELY to use individual brands rather than a family brand for its products?

According to the text, the consumer product classes are based on why consumers use products.

Customers see _____ products as different and want to inspect them for quality and suitability.

Shopping for a specialty product involves comparing the special features of different brands.

The Federal Fair Packaging and Labeling Act of 1966 requires that firms in a product-market reduce the number of package sizes to three or fewer for any product.

An important difference between raw materials and other business products is the need for grading.

The _____ spells out what kinds of marks including brand names can be protected and the exact method of protecting them.