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1 | |
Which of the following is likely to have the longest life cycle? |
| | A) | ThermalPrene gloves that protect hands from intermittent contact with objects up to 400 degrees F |
| | B) | a computer program for calculating individual and household income tax |
| | C) | an SUV |
| | D) | women's leather sandals |
| | E) | toys from the latest Disney movie |
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2 | |
As product adopters, innovators typically: |
| | A) | fear debt and use neighbours and friends as information sources. |
| | B) | are skeptical and have below average social status. |
| | C) | act with deliberation and use many informal social contacts. |
| | D) | are leaders in social standing and have slightly above average education when compared to the other adopter classes. |
| | E) | are venturesome, better educated than other product adopters, and use multiple information sources. |
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3 | |
In 2001, The Girl Guides, a Canadian institution for more than 90 years, realized it was in trouble. "We were the largest invisible girls' organization in Canada," says Georgia Guy, Girl Guides' manager of the organization's external relations. Which of the following strategies should it use to move itself from its current image of geekiness to an image of fun, friendship, and adventure? |
| | A) | deletion |
| | B) | repositioning |
| | C) | market penetration |
| | D) | market development |
| | E) | harvesting |
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4 | |
Since the creation of the Hershey candy bar over 100 years ago, the price of chocolate has fluctuated, but the price of the candy bar has slowly risen. In fact, when the price of chocolate had dramatic price fluctuations over a three-year period, the price of a Hershey's candy bar remained the same. When the price of chocolate was very high, Hershey's was able to maintain its profits by making the bars smaller. Hershey's engaged in: |
| | A) | top-down marketing. |
| | B) | trading up. |
| | C) | bottom-up marketing. |
| | D) | game-playing. |
| | E) | downsizing. |
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5 | |
Brand equity arises from a sequential building process. The first step in the process is to: |
| | A) | establish a brand's meaning in the minds of consumers. |
| | B) | create a deep psychological bond between the consumer and the brand. |
| | C) | separate the functional and the psychological benefits of the brand. |
| | D) | implement a trading up strategy. |
| | E) | develop positive brand awareness. |
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6 | |
In 1977, George Lucas granted Kenner, a toy manufacturer, the exclusive rights to produce Star Wars toys in perpetuity for $100,000 per year. Back then, of course, no one realized how valuable that right was, and for years Kenner made millions of dollars selling little plastic Princess Leias and R2-D2s. This is an example of a _____ agreement. |
| | A) | franchising |
| | B) | trading up |
| | C) | harvesting |
| | D) | licensing |
| | E) | trading down |
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7 | |
Anne and Bob Stevens want to package mixes for bean soups and rice pilafs to sell at their local farmer's market and to one day sell to a larger market. In selecting the brand name for their mixes, they chose The Bean Counter mixes. In terms of the characteristics of good brand names, this brand name is a: |
| | A) | poor choice because it is too specific. |
| | B) | poor choice because it is too simple. |
| | C) | poor choice because it does not suggest the product benefits. |
| | D) | good choice because it fits the company image. |
| | E) | good choice because it can be readily used in global markets. |
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8 | |
The Clorox Company manufactures and markets bleaches, bathroom cleaners, disinfecting wipes, and stain removers under the Clorox brand. This is an example of: |
| | A) | umbrella branding. |
| | B) | co-branding. |
| | C) | family branding. |
| | D) | subbranding. |
| | E) | branding duality. |
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9 | |
The Clorox Company also sells three different brands of charcoal. Kingsford is a well-established brand that has strong brand loyalty. BBQ Bag was specifically designed for today's grilling. Match Light appeals to those who want coals that are easy to light. For its charcoal line, Clorox uses a _____ strategy. |
| | A) | family branding |
| | B) | blanket branding |
| | C) | co-branding |
| | D) | multiproduct branding |
| | E) | multibranding |
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10 | |
Post Oreo cereal consists of chocolate cereal pieces that taste a lot like Nabisco's Oreo cookies. This cereal is an example of: |
| | A) | generic branding. |
| | B) | co-branding. |
| | C) | mixed branding. |
| | D) | multiproduct branding. |
| | E) | none of the above strategies |
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11 | |
Which of the following statements about packaging is true? |
| | A) | A recent trend is to emphasize the health and safety concerns of packaging. |
| | B) | A recent trend is to search for environmentally-friendly packaging. |
| | C) | Packaging can be used to attract customers to new brands. |
| | D) | Packaging can be used to extend shelf life. |
| | E) | All of the above statements about packaging are true. |
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12 | |
Which of the following statements about product warranties is true? |
| | A) | Only manufacturers are legally allowed to use warranties as a competitive advantage. |
| | B) | Warranties have a measurable effect on consumer's product evaluations. |
| | C) | Implied warranties are written statements. |
| | D) | The two types of warranties are full and limited coverage. |
| | E) | All warranties must be written in order for the product manufacturer to be held liable for any product problems. |
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13 | |
A(n) _____ warranty would be in evidence when Quynh took back her brand-new VCR because it would not record her favourite television shows even though she had carefully followed the accompanying directions. She had no other kind of warranty. |
| | A) | express |
| | B) | service |
| | C) | implied |
| | D) | umbrella |
| | E) | litigious |
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