mktg4 – Flashcards
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Which of the following is a reason for a business to have a narrow product mix
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To allow the company to specialize
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One reason a business would remove or delete product items or lines from its product mix is?
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To avoid legal liabilities
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Which of the following is a disadvantage associated with the addition of a higher priced product or line to a company's product mix
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Sales of established products may decline
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Which of the following is one of the elements included in judging the consistency of a company's product lines
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End use
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The number of product lines a company carries is referred to as
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width Why would a business use a broad product mix?: To promote one-stop shopping
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A product-mix strategy in which a business adds a lower priced product or line to its product mix is
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trading down
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A product-mix strategy in which a business adds a higher priced product or line to its product mix is
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trading up
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Which of the following is a disadvantage associated with the addition of a lower priced product or line to a company's product mix
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The company's reputation may be damaged
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Why would a business add higher priced products to its product mix?
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To enhance the image of the company
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A product-mix strategy in which a business redesigns its products is
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alteration
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Each individual good, service, or idea a business offers for sale is known as a product
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item
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Which of the following is a reason for a business to offer a deep product mix
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To compete effectively
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The particular assortment of products a business offers to meet market needs and company goals is its product
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mix
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The number of products and the assortment of sizes, colors, and models offered in product lines is referred to as
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depth
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Which of the following is an example of a product line
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Kraft convenience foods
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Which of the following is a reason for a business to add product items or lines to its product mix
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To satisfy customers' desire for variety
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Why would a business use a shallow product mix?
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To control costs
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A business that offers a great many items in a product line has a __________ product mix
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deep
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A product-mix strategy in which a business removes, or deletes, product items or lines from its product mix is
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contraction
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Which of the following is a reason that a business would make changes to its products
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To keep up with changing consumer preferences
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Which of the following is an example of a business with a broad product mix
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Discount Store
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Which of the following is a way a business can set up a product line
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Customer group
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A salon recently added nail services to its product mix. This strategy is called
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expansion
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Selecting the product mix is an important decision for a business for all of these reasons except that it
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decreases marketing costs
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Positioning is a type of marketing strategy that applies to
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products/brands
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When products are similar, it's effective to position by
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people (service)
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A company that makes ink pens claims that no other pen on the market uses a type of ink that changes color when exposed to light. The company is positioning its product according to what strategy? Mkting Essentials pg. 645-646
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Unique characteristics
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Positioning demonstrates
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uniqueness
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Marketers position a facial soap on its "purity"—no harsh chemicals or dyes are included in its ingredients. This is positioning by
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manufacturing or creation process
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A business that says it tries harder because its product is not number one, is using product positioning to
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compete
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Marketers decide to position a product on its value because value is very important to the target market. In this situation, value is a(n)
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determinant factor
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Positioning a certain truck as being the perfect vehicle for living in the country is an example of positioning by
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uses.
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Company XYZ sells condensed soups and promotes them by saying, "Great taste, great price." Company XYZ is positioning its product according to what strategy? Mkting Essentials pg. 645-646
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Price and quality
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A company advertises that its products are durable, lightweight, and come in a variety of colors. What strategy is the company using to position its product?Mkting Essentials pg. 645-646
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Features and benefits
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Whenever possible, an effective brand name should always be
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short and memorable
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A disadvantage of individual brands is that they may
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require more promotion
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Why do businesses want customers to demonstrate brand insistence for them?
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Customers will bypass other brands because they are brand loyal and will buy only the desired brand.
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Which of the following is a primary reason that businesses use brands
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To identify their products
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Determine which of the following is a true statement
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A good brand name creates an appealing image
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Several restaurant companies, including Long John Silver's and KFC, have successfully joined forces in the past few years to increase recognition, customer loyalty, and sales for all companies involved. Such arrangements between companies are examples of
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co-branding.
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The actions a business takes with a brand in order to accomplish its goals are referred to as
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brand strategies.
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Before selecting a brand name for a new product, marketers should determine the acceptability of brand possibilities among different cultures. As part of this process, marketers should
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determine if the brand name would be culturally taboo where the product will be marketed
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Pharmaceuticals, packaged foods, and vitamins that are sold more inexpensively in plain packaging without brand names are
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generic items
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Names, terms, symbols, or designs that identify products are called
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product brands
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Determine which of the following is a true statement
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Brand ideas may come from many sources, including company employees and customers
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Which of the following is an example of a trade name
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Ford
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Why should a brand name be distinctive?
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So that it sets the product apart from other products
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Which of the following is an advantage of family branding
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New products are easier to introduce
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Jeni's Ice Creams recently added ice cream sandwiches to its highly successful ice cream brand. Such an addition to an existing brand is an example of
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brand extension.
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The Keebler Elves, Ronald McDonald, and Mr. Peanut are examples of
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trade characters
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Consumers develop feelings towards brands in terms of various levels of awareness and preference. This is referred to as brand
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loyalty
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Can any brand name be selected and used by a business?
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No, the name must be legally available for use.
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The non-profit organization Sesame Workshop, which produces the Sesame Street television series, often gives permission to manufacturers such as Fisher Price and Build-a-Bear Workshop to use numerous Sesame Street characters on their products for a fee. This arrangement between Sesame Workshop and these companies is known as
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brand licensing.
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Which of the following question should be asked by a firm that is trying to decide whether to brand its products
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Can the product be easily identified by a brand?
