question

brand equity

answer

it is the value of a company name or brand name - brands that have high awareness, perceived quality, and brand loyalty are high in this

question

unsought product

answer

this type of product is unknown to the potential buyer - it can also be a known product that the buyer does not actively seek

question

brand loyalty

answer

this term describes a basic preference for one brand over all other

question

express warranty

answer

this type of warranty is also known as a written guarantee

question

product mix width

answer

this term refers to the number of product lines an organization offers

question

convenience product

answer

this is a type of inexpensive product that merits little shopping effort; candy, soft drinks, and aspirin are typical examples

question

specialty product

answer

consumers search extensively for items in this category of consumer product and are reluctant to accept substitutes

question

unsought product

answer

new products fall into this category of product until advertising and distribution increase consumer awareness of them

question

shopping product

answer

it is a type of consumer product; consumers comparison shop for items in this category along attributes like price, style, and practicality

question

heterogeneous shopping product

answer

one of two types of shopping products, it describes products like furniture, clothing, and universities, that consumers are likely to perceive competing products as being substantially different

question

cooperative branding

answer

this branding strategy occurs when two brands receiving equal treatment borrow from each other's brand equity

question

manufacturer's brand

answer

the term for the type of brand that would describe Kodak, La-Z-Boy, and Fruit of the Loom

question

product line extension

answer

when Procter & Gamble extended its Febreze odor freshener line with Febreze to Go, it engaged in this

question

individual branding

answer

this is the branding strategy that Procter & Gamble practices in the laundry detergent market with brands like Tide, Iovry Snow, Gain, and Era

question

private brand strategy

answer

Target's Archer Farms brand is a popular example of this branding strategy

question

persuasive labeling

answer

of the two types of labeling, this one focuses on a promotional theme or logo; consumer info is secondary

question

universal product code (UPC)

answer

introduced in 1974 and commonly referred to by a three letter abbreviation, this is a series of thick and thin vertical lines readable by an optical scanner

question

informational labeling

answer

this type of labeling can be found on most upholstered furniture, whereby the label indicates the type of frame, number of coils, and fabric characteristics

question

-containing and protecting the product -promoting the product -facilitating storage, use, and convenience -facilitating recycling and reducing environmental damage

answer

this is one of the four basic functions of packaging

question

Nutritional Labeling and Education Act of 1990

answer

This law mandates detailed nutritional information on most food packages and standards for health claims on those packages

question

product mix

answer

this describes the following group of Big products: Bic pens, Bic lighters, Big disposable razors

question

product line

answer

this describes the dozens of different types of soup produced under the Campbell's brand

question

brand mark

answer

this describes the part of a brand that can't be spoken (ex: symbol for Mercedes-Benz

question

alows managers to concentrate resources on important products

answer

it is a potential benefit of a product line contraction

question

creating a different "personality" for each

answer

Of the following, this is NOT a benefit companies frequently derive from organizing products into product lines: -package uniformity -advertising economies of scale -creating a different personality for each product

question

product line

answer

this is the name given to a closely related group of product items such as Coke, Cherry Coke, and Caffeine-Free Coke

question

product mix

answer

this name is given to all of the products a business sells, such as Campbell's canned soups, microwave soups, and meal kits

question

product item

answer

this is a specific version of a product that can be designated as a distinct offering among an organization's products

question

product line depth

answer

Between "product mix width" and "product line depth", this describes the focus of yarn company that sells only yarn, but sells a dozen different types of yarn

question

planned obsolescence

answer

this practice entails modifying products so that they become obsolete before they actually need replacement

question

brand

answer

it can be a name, term, symbol, or design that identifies a seller's products and differentiates them from competitors' products

question

repeat sales

answer

this is one of the three purposes of branding, besides "product identification" and "new product sales"

question

national brand

answer

this term is sometimes used as a synonym for "manufacturer's brand"

question

generic product name

answer

this type of name identifies a product by class or type and cannot be trademarked. Examples include "aspirin", "thermos" and "kerosene"

question

private brand

answer

the name given to a brand name owned by a retailer

question

one brand name everywhere strategy

answer

the benefits of this global branding strategy include 1 - greater identification of a product from market to market and 2- ease of coordination of promotional efforts from market to market

question

currency

answer

Of the following aspects of packaging, this is NOT especially important to international marketing - Labeling - Aesthetics - Climate considerations - Currency

question

different brand names in different markets strategy

answer

an example of this global branding strategy is Gillette's decision to make Silkience hair conditioner more appealing by renaming it "Soyance" in France and "Sientel" In Italy

question

adaptations and modifications strategy

answer

this global branding strategy will likely be employed when a product name cannot be used in certain markets because it is owned by someone else, or there are problems when translating the name into the local language

question

proper translation of ingredient, promotional, and instructional information

answer

this is the major labeling concern in global branding

question

private brand

answer

this branding strategy is associated with Walmart's Ol' Roy dog food, which has surpassed Nestle's Purina as the world's top selling dog food

question

family brand

answer

the marketing of several different products under the same brand name, such as Jack Daniel's whisky, coffee, mustard, and clothing

question

cooperative branding

answer

when guests at Ramada Inn used an American Express credit card, they were entered into a contest for United Airlines tickets - exemplifying this branding strategy

question

generic product names

answer

these names identify products by class or type and cannot be trademarked

question

captive brands

answer

these brands carry no evidence of the store's affiliation, are manufactured by a third party, and are sold exclusively at the chains

question

product

answer

this basic term is everything that a person receives in an exchange; it can be a tangible good, a service, an idea, or any combination of these

question

service mark

answer

this performs the same functions as a trademark, but for a service

question

implied warranty

answer

unwritten guarantee that a good or service is fit for the purpose for which it was sold

question

product line contraction

answer

Apple's 1997 decision to cut its product line from more than 40 products to just four is an example of this

question

global brand

answer

this type of brand obtains at least a third of its earnings from outside its home country

question

homogeneous shopping product

answer

consumers perceive these types of competing products to be essentially similar; examples include washers, dryers, and refrigerators

question

new-product strategy

answer

this links the new-product development process with the objectives of the marketing department, the business unit, and the corporation

question

brainstorming

answer

the goal of this activity is to get a group of people to think of unlimited ways to vary a product or solve a problem

question

product life cycle

answer

this concept provides a way to trace the four stages of a product's acceptance from its introduction to its decline

question

simultaneous product development

answer

this approach allows firms to shorten the development process and reduce costs

question

business analysis

answer

it is the stage of the new product development process that follows the initial screening process

question

business analysis

answer

in this stage, preliminary figures for demand, costs, sales, and profitability are calculated

question

idea generation

answer

the second step in the new product development process

question

commercialization

answer

the final step in the new product development process

question

screening

answer

the name of the first filter in the new product development process; in this stage, ideas that are obviously inappropriate or inconsistent with the organization's new product strategy are eliminated

question

concept test

answer

this is used to evaluate a new-product idea; typically, researchers collect consumer reactions to descriptions and visual representations of a proposed product

question

development stage

answer

in this stage of the new product development process, the engineering department may create a prototype of the product, while the marketing department is likely to be developing strategies for packaging, labeling, and branding

question

1. introductory stage 2. growth stage 3. maturity stage 4. decline stage

answer

these are the four stages of the product life cycle

question

decline stage

answer

products considered to be in this stage of the PLC include landlines, many convenience products, and fad items

question

fad

answer

among a "style," a "fad and a "fashion" it is the one with the shortest life cycle

question

growth stage

answer

it is the stage of the product life cycle in which profit can be expected to peak

question

maturity stage

answer

examples of competition during this stage include the "cola war" featuring Coke and Pepsi

question

innovators

answer

these adopters rely less on group norms and are more self-confident

question

laggards

answer

of the five categories of adopters, this group makes up the final 16% of those to adopt a a product

question

early majority

answer

of the five categories of adopters, this group's dominant characteristic is deliberateness

question

late majority

answer

one of the five categories of adopters, this group consists of 34 percent of all adopters; they are a skeptical group, and they frequently adopt a product because most of their friends have adopted it

question

early adopters

answer

of the five categories of adopters, it is the one that is most likely to contain opinion leaders

question

commercialization

answer

one of the five steps of the new product development process, it is defined as the decision to market a product

question

laggards

answer

of the five categories of adopters in the diffusion of innovations process, it is the one that does not rely on group norms, has the lowest socioeconomic status, and has a dominant value of tradition

question

growth stage

answer

during this stage, the emphasis switches to aggressive brand advertising and distribution becomes a major key to success

question

1. to sustain growth 2. to increase revenues 3. to replace obsolete items

answer

these are the three reasons cited in the text as to why new products are important

question

maturity stage

answer

one of the characteristics of this stage of the product life cycle is the emergence of niche marketers

question

test marketing

answer

it is the lmited introduction of a product and a marketing program to determine the reactions of the potential customers in a market situation

question

it provides little useful information

answer

of the following, it is NOT cited in the text as one of the high costs of test marketing: - test marketing is expensive -it can nullify the element of surprise -it is subject to sabotage by competitors -it provides little useful information

question

online

answer

innovative firms like Threadless and RYZ are using this avenue to ask consumers to vote for their favorite products

question

simulated market testing

answer

selected consumers ar presented with advertising and promotional materials for several products, including the test product; consumers are then taken to shop at a store, and their purchases are recorded

question

reflect marketing conditions in the new product's projected market are

answer

cities chosen as test sites should do this, though no magic city exists

question

diffusion

answer

this is the process by which the adoption of an innovation spreads

question

innovators

answer

one of the five categories of adopters, this group is among the first 2.5% of all those who adopt a product

question

early adopters

answer

one of the five categories of adopters, this group is the next 13.5% to adopt a product after innovators; rely more on group norms than innovators

question

word of mouth communication

answer

two types of communication aid the diffusion process: communication direct from the marketer to the potential adopter, and this type of communication

question

relative advantage

answer

there are five product characteristics that can be used to predict and explain the rate of diffusion for a new product: complexity, compatibility, observability, tradability, and this __

question

innovators

answer

this category of adopters is the smallest in size

question

product modification

answer

the one that is concerned with cosmetic or functional changes in existing products

question

to be an innovation, it really doesn't matter whether the product is "new to the world"

answer

Answer: Of the following, it is the statement that is true. The greater the degree of complexity, the faster an innovation is likely to diffuse. The more an innovation is compatible with existing product knowledge, the slower it will diffuse. To be an innovation, it really doesn't matter whether the product is "new to the world."

question

an obsession with producing the best product possible

answer

one of the characteristics of companies that have greater success with new product introductions

question

use a generic development approach driven by enthusiastic staff

answer

Answer: Of the following, it is NOT an action taken by successful new product development companies. Make long-term commitments to innovation and product development Use a generic development approach driven by an enthusiastic staff Capitalize on experience to achieve and maintain competitive advantage

question

decline stage

answer

in this stage of the PLC, the product is eventually withdrawn form the market

question

maturity stage

answer

this stage of the PLC is characterized by growing product lines, shrinking dealer margins, and intensive efforts to retain distributors and shelf space

question

developing product awareness and informing customers about the product category's benefits

answer

the typical promotion strategy in the introductory stage of the PLC focuses on this:

question

growth stage

answer

the stage where demand typically switches from primary demand promotion to aggressive brand advertising and brand differentiation

question

maturity and decline stages

answer

during these two stages of the PLC, almost all sales represent repeat purchasing

question

-customers -employees -distributors -competitors -vendors -research and development -consultants

answer

seven sources of new product ideas

question

growth stage

answer

the product life cycle stage during which profits peak

question

maturity stage

answer

in this stage, product lines are frequently lengthened to appeal to additional market segments, and product design changes tend to be more stylistic than functional

question

business analysis stage

answer

the stage of the new product development process during which preliminary figures for demand, cost, sales, and profitability are calculated

question

simultaneous product development

answer

this term describes a team-oriented approach to new-product development whereby each of the involved areas work together, rather than sequentially

question

complexity, compatibility, relative advantage, observability, and trialability

answer

these are the five product characteristics that can be used to predict and explain the rate of acceptance and diffusion of a new product

Marketing chpt 10 & 11 – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards