Question 1

The success of any business or consumer product depends in part on the ability of consumers in the target market to distinguish one product from another.

Accepted Answer

A) True 
 B)False

Question 2

Compared to convenience products,shopping products are:

Accepted Answer

A)   less expensive.
B)   found in fewer stores.
C)   purchased without significant planning.
D)   new products unknown to a potential buyer.E) B) and C)
F) A) and C)

Question 3

________________ identifies a product by class or type and cannot be trademarked.

Accepted Answer

A)   A generic product name
B)   A brand name
C)   A service brand
D)   Family brandingE) None of the above
F) A) and B)

Question 4

Which of the following refers to adding additional products to an existing product line to compete more broadly in the industry?

Accepted Answer

A)   Product line extension
B)   Product modification
C)   Repositioning
D)   Planned obsolescenceE) C) and D)
F) B) and D)

Question 5

Which of the following statements is true of convenience products?

Accepted Answer

A)   A consumer is unwilling to shop extensively for convenience products.
B)   These are products that are perceived to have similar features.
C)   A consumer is unwilling to accept other substitutes for convenience products.
D)   These are products that are not actively sought after by consumers.E) None of the above
F) B) and D)

Question 6

Which of the following refers to a specific version of a product that can be designated as a distinct offering among an organization's products?

Accepted Answer

A)   Product item
B)   Unsought product
C)   Specialty product
D)   Consumer productE) A) and D)
F) B) and C)

Question 7

A relatively inexpensive item that merits little shopping effort is called a(n) ______________.

Accepted Answer

A)   convenience product
B)   shopping product
C)   industrial product
D)   unsought productE) A) and C)
F) A) and B)

Question 8

Yater's Inc.is a food and beverage company based in the United States.The company decides to market and sell its products in all European countries under the same brand name.In this scenario,Yater's Inc.has decided to use a(n) _____.

Accepted Answer

A)   transactional marketing strategy
B)   co-branding strategy
C)   one-brand-name strategy
D)   individual branding strategyE) C) and D)
F) B) and D)

Question 9

One of the functions of universal product codes (UPCs) is to:

Accepted Answer

A)   allow products to be modified for improved sales.
B)   help customers resell products that have no market value.
C)   increase customer loyalty and brand value of a product.
D)   help retailers track and record customer purchases.E) None of the above
F) B) and C)

Question 10

The three most important functions of packaging are to contain and protect products; promote products; and facilitate the storage,use,and convenience of products.

Accepted Answer

A) True 
 B)False

Question 11

Nestor's Nesties,a confectionery company,sells a variety of dark chocolates,milk chocolates,gummies,fruit juices,crackers,cereals,and even cheese.These products together constitute the company's _____.

Accepted Answer

A)   brand symbol
B)   product line
C)   brand mark
D)   product mixE) All of the above
F) A) and D)

Question 12

Which strategy for handling a brand name is useful when a company plans to enter a foreign market with mainly one product and the brand name doesn't have negative connotations in any local markets?

Accepted Answer

A)   A one-brand-name-everywhere strategy
B)   An adaptation and modification strategy
C)   A strategy using different brand names in different markets
D)   All of these are appropriate.E) B) and D)
F) None of the above

Question 13

Which of the following illustrates a difference between individual branding and family branding?

Accepted Answer

A)   In individual branding,different brand names are used for different products,whereas in family branding,several different products are marketed under the same brand name.
B)   Companies use individual branding when products do not vary in use or performance,whereas companies use family branding when products vary greatly in use or performance.
C)   Individual branding identifies the brand of a part that makes up a product,whereas family branding identifies the entire product.
D)   Individual branding is used when two brands receive equal treatment,whereas family branding is used when two brands borrow from each other's brand equity.E) B) and C)
F) A) and D)

Question 14

Which of the following statements is true of a specialty product?

Accepted Answer

A)   It is widely distributed in a geographic area so that sufficient quantities can be sold.
B)   It is marketed using selective,status-conscious advertising to maintain its exclusive image.
C)   It is easily substituted with products that have the same features.
D)   It is unknown to a potential buyer or a known product that the buyer does not actively seek.E) A) and B)
F) None of the above

Question 15

Family branding is about using different brand names for different products.

Accepted Answer

A) True 
 B)False

Question 16

A brand that obtains at least one-third of its earnings from outside its home country,is recognizable outside its home base of customers,and has publicly available marketing and financial data is called ____________.

Accepted Answer

A)   a local brand
B)   a global brand
C)   brand equity
D)   a brand markE) A) and D)
F) A) and B)

Question 17

A cell phone manufacturing company is said to functionally modify one of its products if it:

Accepted Answer

A)   introduces a sleek and stylish version of the cell phone with the same specifications.
B)   reduces the price of the cell phone ahead of a sale.
C)   introduces stylish headphones for the cell phone.
D)   releases a software update to fix the cell phone's overheating problem.E) C) and D)
F) B) and C)

Question 18

Remonet,a smartphone manufacturer,has launched its new products-HY15,HY20,and HY50.These smartphone models are part of its HY series.HY15,being the most budget friendly,attracts more consumers and achieves better sales.In this scenario,Remonet's HY15 smartphone model is an example of a(n) _____.

Accepted Answer

A)   convenience product
B)   product item
C)   unsought product
D)   product lineE) A) and B)
F) A) and C)

Question 19

An organization's product mix includes all the products it sells.

Accepted Answer

A) True 
 B)False

Question 20

If a product is modified by reducing its quality,the marketer's likely intent is to:

Accepted Answer

A)   provide new opportunities for market segmentation.
B)   allow a manufacturer to lower the price of the product.
C)   increase brand loyalty.
D)   help firms cater more effectively to higher socioeconomic classes.E) A) and B)
F) A) and C)

Exam 10: Product Concepts

If a product is modified by reducing its quality,the marketer's likely intent is to:

Correct AnswerverifiedShow Answer

Yater's Inc.is a food and beverage company based in the United States.The company decides to market and sell its products in all European countries under the same brand name.In this scenario,Yater's Inc.has decided to use a(n) _____.

Correct AnswerverifiedShow Answer

Which of the following refers to a specific version of a product that can be designated as a distinct offering among an organization's products?

Correct AnswerverifiedShow Answer

Which strategy for handling a brand name is useful when a company plans to enter a foreign market with mainly one product and the brand name doesn't have negative connotations in any local markets?

Correct AnswerverifiedShow Answer

Compared to convenience products,shopping products are:

Correct AnswerverifiedShow Answer

A brand that obtains at least one-third of its earnings from outside its home country,is recognizable outside its home base of customers,and has publicly available marketing and financial data is called ____________.

Correct AnswerverifiedShow Answer

Remonet,a smartphone manufacturer,has launched its new products-HY15,HY20,and HY50.These smartphone models are part of its HY series.HY15,being the most budget friendly,attracts more consumers and achieves better sales.In this scenario,Remonet's HY15 smartphone model is an example of a(n) _____.

Correct AnswerverifiedShow Answer

The success of any business or consumer product depends in part on the ability of consumers in the target market to distinguish one product from another.

Correct AnswerverifiedShow Answer

Which of the following refers to adding additional products to an existing product line to compete more broadly in the industry?

Correct AnswerverifiedShow Answer

Family branding is about using different brand names for different products.

Correct AnswerverifiedShow Answer

The three most important functions of packaging are to contain and protect products; promote products; and facilitate the storage,use,and convenience of products.

Correct AnswerverifiedShow Answer

Which of the following statements is true of convenience products?

Correct AnswerverifiedShow Answer

Nestor's Nesties,a confectionery company,sells a variety of dark chocolates,milk chocolates,gummies,fruit juices,crackers,cereals,and even cheese.These products together constitute the company's _____.

Correct AnswerverifiedShow Answer

Which of the following statements is true of a specialty product?

Correct AnswerverifiedShow Answer

A relatively inexpensive item that merits little shopping effort is called a(n) ______________.

Correct AnswerverifiedShow Answer

An organization's product mix includes all the products it sells.

Correct AnswerverifiedShow Answer

One of the functions of universal product codes (UPCs) is to:

Correct AnswerverifiedShow Answer

________________ identifies a product by class or type and cannot be trademarked.

Correct AnswerverifiedShow Answer

A cell phone manufacturing company is said to functionally modify one of its products if it:

Correct AnswerverifiedShow Answer

Which of the following illustrates a difference between individual branding and family branding?

Correct AnswerverifiedShow Answer

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