Question 1

A "_____" carries an item's brand name or symbol, the name and address of the manufacturer or distributor, information about the product's composition and size, and recommended uses.

Accepted Answer

A)  brand mark 
B)  label 
C)  brand token 
D)  watermark

Question 2

Tide laundry detergent commands an extremely high market share. Purchasers of the product are extremely less sensitive to price changes. Based on this assessment, it can be said that Tide has high brand equity.

Accepted Answer

A) True 
 B)False

Question 3

In contrast to the purchase of shopping products, consumers buy convenience products only after comparing competing offerings on such characteristics as price, quality, style, and color.

Accepted Answer

A) True 
 B)False

Question 4

Food and household staples are common categories of generic products.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following terms refers to the development of individual offerings that appeal to different market segments while remaining closely related to the existing product line?

Accepted Answer

A)  Line penetration 
B)  Line innovation 
C)  Line extension 
D)  Line cannibalization

Question 6

Finished business products of one producer that become part of the final products of another producer are called _____.

Accepted Answer

A)  installations 
B)  accessory equipment 
C)  supplies 
D)  component parts and materials

Question 7

Using the consumer products classification system, which of the following is most likely to be true of the consumer factors for specialty products?

Accepted Answer

A)  Consumers tend to purchase specialty products frequently. 
B)  Consumers always compare price and quality between competing products. 
C)  Consumers tend to regard convenience of location as very important. 
D)  Consumers tend to plan extensively before buying them.

Question 8

Loyola works for a coffee shop that wants to differentiate itself from local competitors in order to boost its profits. Which of the following differentiation strategies would hurt the company rather than boost sales?

Accepted Answer

A)  Hire more staff 
B)  Sell the coffee cups in which the beverages are served 
C)  Offer a wider selection of international coffees and teas 
D)  Provide customer incentives, including coupons and points 
E)  Renovate the coffee shop so it has more space than other coffee shops in the area

Question 9

Services are intangible products.

Accepted Answer

A) True 
 B)False

Question 10

You work for the purchasing department of an up-and-coming eco-friendly fashion manufacturer, and have been asked to ensure that you have ordered enough raw materials for the pieces in the fall collection. The fall collections will feature plant-based T-shirts embellished with fancy stitching. ​
Required:
Which of the following combination of items should you order?

Accepted Answer

A)  T-shirts, bamboo, and thread 
B)  Buttons, T-shirts, and thread 
C)  Buttons, thread, and bamboo 
D)  Bamboo, thread, and sewing machines 
E)  T-shirts, sewing machines, and buttons

Question 11

What is a brand? Why is branding important?

Accepted Answer

The answer of What is a brand? Why is branding...

Question 12

Which of the following factors has helped increase the importance of packaging as a marketing tool?

Accepted Answer

A)  Marketers' emphasis on targeting large market segments 
B)  Increased popularity of generic products 
C)  Changes in consumer lifestyles and buying habits 
D)  Global economic recessive trends

Question 13

In the context of the business products, items that typically cost less and last for shorter periods than installations are called _____.

Accepted Answer

A)  shopping products 
B)  accessory equipment 
C)  supplies 
D)  impulse products

Question 14

Internet security software that requires periodic updates and annual product upgrades is considered a pure service on the goods-services continuum.

Accepted Answer

A) True 
 B)False

Question 15

The added value that a certain brand name gives to a product in the marketplace is called _____.

Accepted Answer

A)  brand identity 
B)  brand relevance 
C)  brand recognition 
D)  brand equity

Question 16

​Beaux, a clothing boutique store, specializes in high-end evening wear for women. Most of the dresses are custom-made for their elite customers. Beaux is an example of a store offering _____ products.

Accepted Answer

A)  impulse 
B)  convenience 
C)  shopping 
D)  specialty

Question 17

A national brand defines the image most people form when they think of a brand.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following comes closest to providing pure service?

Accepted Answer

A)  A retail store 
B)  An automobile dealership 
C)  A coffee shop 
D)  A fitness gym

Question 19

Hershey's introduction of a sugar-free version of its candy bar is an example of line extension.

Accepted Answer

A) True 
 B)False

Question 20

Jessica is planning a vacation and is interested in taking a cruise. She's starting to research cruise lines and prices and had hoped to take a cruise with her husband over the Christmas holidays. She's learning that the prices for a cruise are much higher for cruises that depart between December 22nd and January 3rd. However, she notices that prices are somewhat lower from January 4th through March 1st. Which aspect or characteristics of services does this difference in price reflect?

Accepted Answer

A)  Services are perishable. 
B)  Services are intangible. 
C)  Services are inseparable from the service providers. 
D)  Companies cannot easily standardize services.

Exam 11: Product and Branding Concepts

A "_____" carries an item's brand name or symbol, the name and address of the manufacturer or distributor, information about the product's composition and size, and recommended uses.

Tide laundry detergent commands an extremely high market share. Purchasers of the product are extremely less sensitive to price changes. Based on this assessment, it can be said that Tide has high brand equity.

In contrast to the purchase of shopping products, consumers buy convenience products only after comparing competing offerings on such characteristics as price, quality, style, and color.

Food and household staples are common categories of generic products.

Which of the following terms refers to the development of individual offerings that appeal to different market segments while remaining closely related to the existing product line?

Finished business products of one producer that become part of the final products of another producer are called _____.

Using the consumer products classification system, which of the following is most likely to be true of the consumer factors for specialty products?

Loyola works for a coffee shop that wants to differentiate itself from local competitors in order to boost its profits. Which of the following differentiation strategies would hurt the company rather than boost sales?

Services are intangible products.

What is a brand? Why is branding important?

Which of the following factors has helped increase the importance of packaging as a marketing tool?

In the context of the business products, items that typically cost less and last for shorter periods than installations are called _____.

Internet security software that requires periodic updates and annual product upgrades is considered a pure service on the goods-services continuum.

The added value that a certain brand name gives to a product in the marketplace is called _____.

​Beaux, a clothing boutique store, specializes in high-end evening wear for women. Most of the dresses are custom-made for their elite customers. Beaux is an example of a store offering _____ products.

A national brand defines the image most people form when they think of a brand.

Which of the following comes closest to providing pure service?

Hershey's introduction of a sugar-free version of its candy bar is an example of line extension.

Beaux, a clothing boutique store, specializes in high-end evening wear for women. Most of the dresses are custom-made for their elite customers. Beaux is an example of a store offering _____ products.