QUESTION Mastercard/Virgin prepaid credit cards, Betty Crocker/Hershey brownie mixes, Benjamin Moore/Pottery Barn paint color palettes, and Nike/Michael Jordan basketball shoes represent what? A) individual brands B) co-brands C) family brands D) private-label brands E) manufacturer’s brands ANSWER Answer: B Explanation: B) Co-branding is when two noncompeting products link their brand names together for a […]
QUESTION This function of packaging allows retail stores to keep track of which products sell and which don’t and to reorder products when they run low. A) to promote the product and differentiate it from competitors B) to provide product information C) to help consumers use the product D) to indicate price and universal product […]
QUESTION Which of the following brands does NOT belong in the list? A) Post Raisin Bran B) Campbell’s Tomato Soup C) Kraft Macaroni & Cheese Dinner D) Starbuck’s Java Chip Ice Cream E) Market Basket Half & Half ANSWER Answer: E Explanation: E) Answer choices A through D are family brands. Answer choice E […]
QUESTION Which of the following represents the pricing goal of attracting customers? A) matching the price on soft drinks that the big box store down the street charges B) pricing soft drinks low to make them available to people who otherwise could not afford them C) setting a higher price on soft drinks to give […]
QUESTION Post Honey Bunches of Oats, Post Fruity Pebbles, and Post Great Grains represent which category of brands? A) family brands B) individual brands C) co-brands D) manufacturer’s brands E) private-label brands ANSWER Answer: A Explanation: A) With family brands, the same brand name is given to all or most of a company’s products.
QUESTION General Motors makes Chevrolet, Buick, Cadillac, and GMC vehicles. These groups can be further broken down. For example, Chevrolet cars include the Aveo, Cobalt, Corvette, HHR, Impala, and Malibu. Which category of brands does the General Motors style represent? A) co-brands B) manufacturer’s brands C) family brands D) private-label brands E) individual brands […]
QUESTION Which of the following characteristics does NOT describe the growth stage of the product life cycle? A) Managers have to maintain product quality while building inventory and staff. B) The product may have the marketplace to itself. C) Managers need to worry about getting sufficient product into the distribution pipeline. D) Maintaining quality and […]
QUESTION Which of the following is NOT one of the four stages of the product life cycle? A) introduction B) familiarization C) growth D) maturity E) decline ANSWER Answer: B Explanation: B) A product life cycle is a model that graphs the four stages that a product or service goes through during the “life” […]
QUESTION Research suggests that only one idea in how many will end up making money? A) 3 B) 30 C) 300 D) 3,000 E) 30,000 ANSWER Answer: D Explanation: D) Quality counts, since research suggests that only one idea in 3,000 will end up making money.
QUESTION Which of the following gives the stages in developing a new product in the correct order? A) test marketing > idea generation > product analysis > product screening > commercialization > product development B) product development > test marketing > product analysis > product screening > idea generation > commercialization C) product analysis > […]
