BUS 346 Ch 11

A university that has separate graduate and undergraduate admission offices recognizes that these are distinct

c. product lines.

For marketers, one of the benefits of having achieved brand loyalty is

d. lower marketing costs associated with reaching loyal customers.

Sometimes brand names become synonymous with a product itself. If that happens, the brand

e. could lose its trademark status.

In the case of Band-Aid adhesive bandages, the brand name has

a. become synonymous with the product itself.

One of the major tools used by marketers to meet the needs of loyal customers is

c. CRM.

Toyota, a well-established, reputable brand, recently introduced a new line of vehicles under the Scion brand, targeted at young car buyers. Toyota probably used the new brand to

b. appeal to a different market segment.

For many years, General Electric’s corporate strategy was to be among the top three firms in any market in which it operated; if it could not achieve a top-three position, it would exit the market. This strategy often resulted in the company __________ when certain product lines failed to meet this expectation.

a. decreasing product mix breadth

Marketers spend billions of dollars annually attempting to build effective brands. One basic benefit of a brand is that it

a. provides a way for a firm to differentiate its product offerings from competitors.

A personal digital assistant programmed with key customers’ birthdates, wine preferences, and food allergies is a __________ tool.

a. CRM

Suppose that Walgreens (a major drug store chain) wants to introduce its own brand of cough medicine that is similar in contents and packaging to a national brand, but at a lower cost. What kind of brand would Walgreens be introducing?

a. private-label brand Private-label brands are products developed by retailers.

Brand extension is a popular marketing strategy because

e. the firm can spend less on creating brand awareness and associations.

Shell MasterCard, created cooperatively by Shell Oil Company and Master Card, is an example of

d. co-branding

Brands that are owned by ___________ are called private-label brands.

d. retailers

Brands can be owned by

a. any firm in the supply chain.

Frequent buyer/user award programs are used to

c. maintain contact with loyal customers.

When a restaurant chain, Big Burgers, launches its own brand of frozen meals, this is an example of a

b. brand extension.

Many former Enron professionals who had nothing to do with the corporate scandal found that listing employment with Enron hurt their chances of being hired elsewhere. For these people, the Enron name has

d. negative brand equity.

For a brand name to be effective, it needs to be

a. easy for consumers to recognize and remember.

When Meg planned her trip to Australia, she spent months evaluating packages, airfares, and hotel accommodations. Meg’s trip is an example of a ________ product.

c. shopping

The basic reason manufacturers spend time and money building their own brands is to

d. build brand equity.

Which of the following is the best example of a family brand?

e. Tostitos Multigrain Scoops and Tostitos Chunky Salsa

Zappos, an online shoe company, knows shoes are typically aNo __________ good, with consumers often spending time comparing alternatives. They overcome that aspect of consumers’ search process by offering a free, no questions asked return policy.

b. shopping

The complete set of all products offered by a firm’ is called its

e. product mix

A product is __________ that can be offered through a voluntary marketing exchange.

e. anything of value to consumers

Firms spend millions of dollars annually to build brand equity, that recognizing brand equity contributes to

a. profitability.

Why did PepsiCo reduce the weight of its water bottles by 20 percent?

a. because PepsiCo was concerned about waste from its bottles

Where on a product’s packaging would one most likely find nutrient content and country of origin?

c. on the label

Procter & Gamble is a huge national brand manufacturer. By having leading brands like Tide and Crest, P&G

b. has greater control over marketing strategy.

Brands are assets that can be legally protected through

d. copyrights and trademarks.

The value of a brand is often calculated by assessing the

c. earning potential of the brand over the next 12 months.

In a competitive market, perceived value is determined by consumers mostly

a. in relationship to the value of competitors’ offerings.

When manufacturers try to understand what customers are looking for, they are thinking about the _______ component of the product offer.

core customer value

One key feature of the value of a strong brand is that

it can protect the firm from competition.

It is almost impossible to watch a sporting event on television without seeing Nike’s swoosh check mark, which is Nike’s

symbol.

One of the advantages of selling specialty goods and services is that when consumers want them, they will

search for them.

Marketers need to think about the product offer on three levels. Which of the following levels includes associated services such as warranties, financing, support, and after-sale service?

augmented product

Private-label brands are developed and managed by

retailers

Marketers spend billions of dollars annually attempting to build effective brands. The basic benefit of a brand is that it

provides a way for a firm to differentiate its product offerings from competitors

Zappos, an online shoe company, knows shoes are typically a(n) __________ good, with consumers often spending time comparing alternatives. They overcome that aspect of consumers’ search process by offering a free, no questions asked return policy.

…

Brand dilution occurs when

customer perceptions about the core brand are adversely affected

Nora is deciding whether to purchase brand name sneakers or a store brand. She has purchased other shoes with the same brand name in the past but was only marginally satisfied. In this situation, Nora is likely to purchase the store brand sneakers because they offer

greater perceived value

__________ is the number of items within a product line.

product line depth

When a company launches a new product with an existing brand name this is known as

a brand extension

A __________ is a group of associated items that consumers tend to use together or think of as part of a group of similar products.

product line

Jake developed a toothpaste using only natural ingredients, and he has been quite successful selling the product in health food stores and some grocery stores. He has recently developed a toothbrush using bamboo and natural components. Jake is considering a __________, giving the toothbrush the same brand name as the toothpaste in order to have greater brand awareness.

brand extension

Brands that are owned by ___________ are called private-label brands

retailers

A __________ is a name, symbol, design, or term that identifies a seller’s good or service as distinct from those of other sellers.

brand

Private-label brands like Gap and Victoria’s Secret have increased in importance along with the increased power of ___________ in the supply chain.

retailers

One important purpose of a brand is to

increase consumer recognition and awareness of product offerings

________ is another term for private-label brands.

store brands

Ella had been using an imported brand of shampoo for several years, but she could no longer find it anywhere. As she was considering what kind of shampoo to try, she was surprised to see ads for Procter & Gamble’s Head and Shoulders, which was being promoted as a glamorous health-oriented product. She had always thought of Head and Shoulders as an anti-dandruff shampoo. The new ads suggest that Head & Shoulders has been

rebranded

One key feature of the value of a brand is that

it often protects the firm from competition and price competition

For many years, General Electric had a corporate strategy of being among the top three firms in any market in which it operated; if it could not achieve a top-three position, it would exit the market. This strategy often resulted in the company __________ when certain product lines failed to meet this expectation.

decreasing product mix breadth

A firm’s product mix breadth is its

number of product lines

Another name for a manufacturer’s brand is a(n) __________ brand.

national

The complete set of all products offered by a firm is called its

product mix

Firms with well-known brands can spend relatively less on marketing costs than firms with little-known brands because

people already know what the brand means

Marketers need to think about the product offer on three levels. Which of the following levels includes associated services such as warranties, financing, support and after-sale service?

augmented product

Which of the following brand strategies is being used when the local ice cream shop decides to add a new flavor to its menu?

a line extension

Consumers might not realize that Old Spice health and wellness products and Iams pet nutrition products are made by the same company—Procter & Gamble. Old Spice and Iams are known as

individual brands

When Procter & Gamble added teeth whitening products under the Crest brand, the firm was engaged in

brand extension

Marco tried a new fruit-flavored beverage and thought it was awful. He was especially disappointed because he had liked the dried fruit snacks marketed under the same brand name. Now he wasn’t sure he even wanted to buy the snacks he had liked before. This highlights a problem in branding known as

brand dilution

Andy likes gourmet popcorn, and will spend time trying to find his favorite brand. His girlfriend, Joanne, loves popcorn but doesn’t care about brands. For Andy, popcorn is a __________ good while for Joanne it is a __________ good.

specialty; convenience

Efforts to change a brand’s focus to target new markets or change the image of a brand are called

brand repositioning

Which of the following best describes when Johnson & Johnson introduces a travel-sized package for its existing baby oil product?

line extension

If many consumers in the marketplace are familiar with a brand and what it stands for and have an opinion about the brand, the brand has considerable

awareness

When a salesperson approaches you to sell a cemetery plot, this is considered what type of product?

unsought product

For a major university, undergraduate studies, graduate studies, and professional programs would be __________ within the university’s product mix.

product lines

Laura prefers Sony products and will only purchase alternatives when there are no Sony products available. Laura’s brand loyalty means she is

relatively insensitive to price

One of the categories of products for which brand extension is especially logical is

complementary goods

A __________ is one where there is a contractual arrangement between firms allowing one to use its brand name for a fee.

licensed brand

__________ occurs when the brand extension adversely affects consumer perceptions about the attributes of the core brand.

brand dilution

Marketers with luxury brands use brand extension cautiously in order to avoid

diluting the core brand

Which of the following is NOT one of the four criteria used for determining how "good" a brand is?

brand conceptualization

Marketers with successful brands sometimes hesitate to expand their brands because

it is costly to maintain many product lines, and might weaken the firm’s reputation

Another name for brand repositioning is

rebranding