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mktg4

Which of the following is a reason for a business to have a narrow product mix
To allow the company to specialize
One reason a business would remove or delete product items or lines from its product mix is?
To avoid legal liabilities
Which of the following is a disadvantage associated with the addition of a higher priced product or line to a company’s product mix
Sales of established products may decline
Which of the following is one of the elements included in judging the consistency of a company’s product lines
End use
The number of product lines a company carries is referred to as
width Why would a business use a broad product mix?: To promote one-stop shopping
A product-mix strategy in which a business adds a lower priced product or line to its product mix is
trading down
A product-mix strategy in which a business adds a higher priced product or line to its product mix is
trading up
Which of the following is a disadvantage associated with the addition of a lower priced product or line to a company’s product mix
The company’s reputation may be damaged
Why would a business add higher priced products to its product mix?
To enhance the image of the company
A product-mix strategy in which a business redesigns its products is
alteration
Each individual good, service, or idea a business offers for sale is known as a product
item
Which of the following is a reason for a business to offer a deep product mix
To compete effectively
The particular assortment of products a business offers to meet market needs and company goals is its product
mix
The number of products and the assortment of sizes, colors, and models offered in product lines is referred to as
depth
Which of the following is an example of a product line
Kraft convenience foods
Which of the following is a reason for a business to add product items or lines to its product mix
To satisfy customers’ desire for variety
Why would a business use a shallow product mix?
To control costs
A business that offers a great many items in a product line has a __________ product mix
deep
A product-mix strategy in which a business removes, or deletes, product items or lines from its product mix is
contraction
Which of the following is a reason that a business would make changes to its products
To keep up with changing consumer preferences
Which of the following is an example of a business with a broad product mix
Discount Store
Which of the following is a way a business can set up a product line
Customer group
A salon recently added nail services to its product mix. This strategy is called
expansion
Selecting the product mix is an important decision for a business for all of these reasons except that it
decreases marketing costs
Positioning is a type of marketing strategy that applies to
products/brands
When products are similar, it’s effective to position by
people (service)
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
Unique characteristics
Positioning demonstrates
uniqueness
Marketers position a facial soap on its “purity”—no harsh chemicals or dyes are included in its ingredients. This is positioning by
manufacturing or creation process
A business that says it tries harder because its product is not number one, is using product positioning to
compete
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)
determinant factor
Positioning a certain truck as being the perfect vehicle for living in the country is an example of positioning by
uses.
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
Price and quality
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
Features and benefits
Whenever possible, an effective brand name should always be
short and memorable
A disadvantage of individual brands is that they may
require more promotion
Why do businesses want customers to demonstrate brand insistence for them?
Customers will bypass other brands because they are brand loyal and will buy only the desired brand.
Which of the following is a primary reason that businesses use brands
To identify their products
Determine which of the following is a true statement
A good brand name creates an appealing image
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
co-branding.
The actions a business takes with a brand in order to accomplish its goals are referred to as
brand strategies.
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
determine if the brand name would be culturally taboo where the product will be marketed
Pharmaceuticals, packaged foods, and vitamins that are sold more inexpensively in plain packaging without brand names are
generic items
Names, terms, symbols, or designs that identify products are called
product brands
Determine which of the following is a true statement
Brand ideas may come from many sources, including company employees and customers
Which of the following is an example of a trade name
Ford
Why should a brand name be distinctive?
So that it sets the product apart from other products
Which of the following is an advantage of family branding
New products are easier to introduce
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
brand extension.
The Keebler Elves, Ronald McDonald, and Mr. Peanut are examples of
trade characters
Consumers develop feelings towards brands in terms of various levels of awareness and preference. This is referred to as brand
loyalty
Can any brand name be selected and used by a business?
No, the name must be legally available for use.
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
brand licensing.
Which of the following question should be asked by a firm that is trying to decide whether to brand its products
Can the product be easily identified by a brand?

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