Question 1

What is a legal term indicating the owner's exclusive right to use a brand name or other identifying mark?

Accepted Answer

A) trademark 
B) patent 
C) brand 
D) private brand

Question 2

Colin stopped at Canadian Tire to buy a snow shovel. While he was paying for his shovel, he noticed a can of WD-40 engine lubricant, which he also purchased. In this example, which type of product is the WD-40?

Accepted Answer

A) specialty product 
B) convenience product 
C) business product 
D) shopping product

Question 3

Scenario 10-3
Choice Homes Inc. 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 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 neighbourhoods.
-Refer to the scenario. In a recent survey, Choice Homes's customers indicated that they thought their homes were high quality, made lots of referrals to friends, and planned to buy Choice Classic or Reflections homes in the future. The customers' reactions indicate that Choice Homes has achieved which of the following?

Accepted Answer

A) generic status 
B) a private brand 
C) brand equity 
D) superficial skills

Question 4

Besides labelling and aesthetics, what is the third aspect of packaging that is especially important in international marketing?

Accepted Answer

A) price 
B) climate considerations 
C) counterfeiting potential 
D) warranties

Question 5

Your boss has just told you to work on getting trademark protection for a new brand of backpack the firm has developed. The product is to be called the Thermos Pak and has a unique logo. Why will this protection be difficult?

Accepted Answer

A) Thermos is a generic product name. 
B) Proving your product is unique to get a trademark is hard to do and expensive. 
C) Many competitors are trying for the same trademark. 
D) Brand logo designs, even as unique as yours, cannot be trademarked.

Question 6

Over time, firms change product items, lines, and mixes or take advantage of new technical or product developments. What is it called when a company changes a product characteristic?

Accepted Answer

A) diversification 
B) repositioning 
C) product modification 
D) product line expansion

Question 7

The statement on the toothpaste box that brushing twice a day with this paste will remove 90 percent of all tartar from the user's teeth is an example of which of the following?

Accepted Answer

A) an implied warranty 
B) a functional label 
C) a UPC label 
D) an express warranty

Question 8

Most people under the age of 25 have a strong belief in their own personal invincibility. An insurance agency targeting this group for life insurance would find this market segment categorizes the insurance as which type of product?

Accepted Answer

A) heterogeneous shopping 
B) specialty 
C) unsought 
D) relationship

Question 9

Cultural traits can make a package design successful in one country and a failure in another.

Accepted Answer

A) True 
 B)False

Question 10

V8 juice has for years advertised itself as a refreshing and nutritious drink that contains eight different vegetables, and that is what the brand name V8 means to most consumers. What type of strategy was used when the manufacturer of V8 juice introduced V8 Orange and Mango juice?

Accepted Answer

A) repositioning 
B) product line extension 
C) cannibalization 
D) disintermediation

Question 11

Which type of labels contain standard promotional claims like "new," "improved," and "super"?

Accepted Answer

A) descriptive 
B) persuasive 
C) repositioning 
D) informational

Question 12

Brand loyalty can do which of the following?

Accepted Answer

A) increase product diffusion 
B) encourage competition 
C) shorten the amount of time a product spends in the maturity stage 
D) help ensure repeat sales

Question 13

Marie is famous for her pound cakes, and she credits her success to her use of Robin Hood flour. She will use only Robin Hood flour and will travel to several different stores, if necessary, to find this particular brand. For Marie, flour is a shopping product.

Accepted Answer

A) True 
 B)False

Question 14

When deciding on distribution plans for specialty products, what do companies generally ensure?

Accepted Answer

A) These items are distributed only as private brands. 
B) These items are distributed in a large number of stores in a geographic area. 
C) These items are distributed to only a few stores in a geographic area. 
D) These items are distributed to a considerable number of stores in a specific region.

Question 15

Jake wanted a La-Z-Boy chair. He watched newspaper ads until he found the chair on sale. For Jake which type of product is the La-Z-Boy chair?

Accepted Answer

A) shopping 
B) convenience 
C) component 
D) unsought

Question 16

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

Accepted Answer

A) equity branding 
B) cobranding 
C) conjunctive branding 
D) complementary branding

Question 17

The most expensive refrigerator in the world is the Sub-Zero brand. Many consumers believe it to be the best brand made. For people who insist on having the best kitchen money can buy and will accept no less, the Sub-Zero refrigerator is an example of which type of product?

Accepted Answer

A) heterogeneous shopping 
B) specialty item 
C) homogeneous shopping 
D) exclusive item

Question 18

Which two types of package labelling are commonly used today?

Accepted Answer

A) informational and persuasive 
B) promotional and non-promotional 
C) functional and persuasive 
D) government mandated and seller controlled

Question 19

Distinguish between an implied warranty and an express warranty. Give one example of each.

Accepted Answer

The answer of Distinguish between an implied warranty and an...

Question 20

The new iPhone 8 comes in black, white, gold, and space grey. Many consumers are interested in this product because of the cool image attached to the Apple brand. Which of the following is an example of the iPhone's tangible feature?

Accepted Answer

A) brand equity 
B) competitors 
C) colour 
D) image

Exam 10: Product Concepts