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Exam 11: Product and Branding Concepts

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Question 71

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In the context of the business products, items that typically cost less and last for shorter periods than installations are called _____.

A) shopping products
B) accessory equipment
C) supplies
D) impulse products

E) A) and B)
F) A) and C)

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Question 72

Multiple Choice

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Using the consumer products classification system, which of the following is most likely to be true of the consumer factors for specialty products?

A) Consumers tend to purchase specialty products frequently.
B) Consumers always compare price and quality between competing products.
C) Consumers tend to regard convenience of location as very important.
D) Consumers tend to plan extensively before buying them.

E) A) and D)
F) A) and B)

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Question 73

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Tide laundry detergent commands an extremely high market share. Purchasers of the product are extremely less sensitive to price changes. Based on this assessment, it can be said that Tide has high brand equity.

Which of the following terms refers to the development of individual offerings that appeal to different market segments while remaining closely related to the existing product line?

In contrast to the purchase of shopping products, consumers buy convenience products only after comparing competing offerings on such characteristics as price, quality, style, and color.

Which of the following comes closest to providing pure service?

Hershey's introduction of a sugar-free version of its candy bar is an example of line extension.

A "_____" carries an item's brand name or symbol, the name and address of the manufacturer or distributor, information about the product's composition and size, and recommended uses.

A national brand defines the image most people form when they think of a brand.

Internet security software that requires periodic updates and annual product upgrades is considered a pure service on the goods-services continuum.

Finished business products of one producer that become part of the final products of another producer are called _____.

Food and household staples are common categories of generic products.

​Beaux, a clothing boutique store, specializes in high-end evening wear for women. Most of the dresses are custom-made for their elite customers. Beaux is an example of a store offering _____ products.

You work for the purchasing department of an up-and-coming eco-friendly fashion manufacturer, and have been asked to ensure that you have ordered enough raw materials for the pieces in the fall collection. The fall collections will feature plant-based T-shirts embellished with fancy stitching. ​ Required: Which of the following combination of items should you order?

What is a brand? Why is branding important?

Services are intangible products.

The added value that a certain brand name gives to a product in the marketplace is called _____.

Loyola works for a coffee shop that wants to differentiate itself from local competitors in order to boost its profits. Which of the following differentiation strategies would hurt the company rather than boost sales?

Jessica is planning a vacation and is interested in taking a cruise. She's starting to research cruise lines and prices and had hoped to take a cruise with her husband over the Christmas holidays. She's learning that the prices for a cruise are much higher for cruises that depart between December 22nd and January 3rd. However, she notices that prices are somewhat lower from January 4th through March 1st. Which aspect or characteristics of services does this difference in price reflect?

Which of the following factors has helped increase the importance of packaging as a marketing tool?