Question 1

What level of brand loyalty are luxury items often representative of?

Accepted Answer

A)  brand comprehension 
B)  brand insistence 
C)  brand recognition 
D)  brand preference

Question 2

Identify and describe the organizational entities used in new product development.

Accepted Answer

The answer of Identify and describe the organizational entities used...

Question 3

A trademark is a brand for which the owner claims exclusive legal protection.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A)  a greater level of compatibility 
B)  a greater level of complexity 
C)  a greater level of possibility of trial use 
D)  a greater level of observability

Question 5

When does a new product innovation possess relative advantage?

Accepted Answer

A)  when it is consistent with the values and experiences of potential adopters 
B)  when it appears far superior to previous ideas 
C)  when it allows potential buyers limited initial use before purchase 
D)  when it is relatively easy to understand

Question 6

A retailer owns a trademark for a private brand, which indicates that all products packaged under this brand are sold only through its stores.

Accepted Answer

A) True 
 B)False

Question 7

A brand name differs from a brand mark in that the name can receive legal protection, but the mark cannot.

Accepted Answer

A) True 
 B)False

Question 8

A brand is said to have high relevance if a large number of consumers feel the need for the benefits offered by the brand.

Accepted Answer

A) True 
 B)False

Question 9

Marketers attempt to place purchasers into categories in the diffusion process depending on their relative time of adoption. Since the categories are based on a normal distribution, the distribution's properties are used to partition them.

Accepted Answer

A) True 
 B)False

Question 10

Which action is NOT one of the stages of consumer adoption?

Accepted Answer

A)  awareness of the product and seeking out information 
B)  evaluation of the likely benefits 
C)  providing feedback to the company via relationship marketing 
D)  trial purchase and evaluation leading to acceptance or rejection

Question 11

Why does the complexity of an innovation affect its adoption rate?

Accepted Answer

A)  because consumers are slow to adopt products they find difficult to use 
B)  the product is inconsistent with the values of potential adopters 
C)  when a free or discounted trial is provided to delay the product acceptance 
D)  when the superiority of the product is visible to the consumer

Question 12

What term refers to the numerical bar code system used to record product and price information?

Accepted Answer

A)  uniform serial number 
B)  unitized product locator 
C)  unique label identifier 
D)  universal product code

Question 13

In the awareness phase of the consumer adoption process, consumers make a trial purchase of an item to determine its usefulness.

Accepted Answer

A) True 
 B)False

Question 14

A brand name must qualify for legal protection.

Accepted Answer

A) True 
 B)False

Question 15

Responding to moviegoers' recently revived interest in the 3D format, Panasonic introduced the world's first 3D home entertainment system. What is the strategy used by Panasonic is an example of?

Accepted Answer

A)  market engagement 
B)  market simulation 
C)  product development 
D)  product association

Question 16

Small manufacturers usually assign a category manager to each major channel such as grocery stores or drugstores, instead of each retail chain.

Accepted Answer

A) True 
 B)False

Question 17

What is locating new markets for existing products called?

Accepted Answer

A)  market penetration 
B)  market development 
C)  product development 
D)  product diversification

Question 18

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

Accepted Answer

A)  declining life cycle branding 
B)  unique branding 
C)  captive branding 
D)  exclusive branding

Question 19

Which of the following is a crown corporation that oversees the standards system in Canada?

Accepted Answer

A)  Federal Standards Council 
B)  NAFTA Council 
C)  Standards Council of Canada 
D)  Council for Standards in Canada

Question 20

Apex Corp. has been manufacturing furniture for past several years. Now in order to grow its business, the company has decided to manufacture curtains and bed sheets. What strategy is the company using to target new markets?

Accepted Answer

A)  product association 
B)  market simulation 
C)  market engagement 
D)  product diversification

Exam 11: Developing and Managing Brand and Product Strategies

What level of brand loyalty are luxury items often representative of?

Identify and describe the organizational entities used in new product development.

A trademark is a brand for which the owner claims exclusive legal protection.

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

When does a new product innovation possess relative advantage?

A retailer owns a trademark for a private brand, which indicates that all products packaged under this brand are sold only through its stores.

A brand name differs from a brand mark in that the name can receive legal protection, but the mark cannot.

A brand is said to have high relevance if a large number of consumers feel the need for the benefits offered by the brand.

Marketers attempt to place purchasers into categories in the diffusion process depending on their relative time of adoption. Since the categories are based on a normal distribution, the distribution's properties are used to partition them.

Which action is NOT one of the stages of consumer adoption?

Why does the complexity of an innovation affect its adoption rate?

What term refers to the numerical bar code system used to record product and price information?

In the awareness phase of the consumer adoption process, consumers make a trial purchase of an item to determine its usefulness.

A brand name must qualify for legal protection.

Responding to moviegoers' recently revived interest in the 3D format, Panasonic introduced the world's first 3D home entertainment system. What is the strategy used by Panasonic is an example of?

Small manufacturers usually assign a category manager to each major channel such as grocery stores or drugstores, instead of each retail chain.

What is locating new markets for existing products called?

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

Which of the following is a crown corporation that oversees the standards system in Canada?

Apex Corp. has been manufacturing furniture for past several years. Now in order to grow its business, the company has decided to manufacture curtains and bed sheets. What strategy is the company using to target new markets?