QUESTION At the maturity stage of the product life cycle, sales slow as competition makes inroads, and managers need to concentrate on reducing costs in an effort to maintain the product’s profitability. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: The maturity stage is the period in which the product […]
QUESTION Rachel has a new job working at a conveyor belt in a paper recycling plant. She works the residential mixed paper line. Her job is to pull off nonrecyclable items mixed in with the magazines, newspapers, and cereal-box cardboard. The first few days, when she had a coworker alongside her showing her the process, […]
QUESTION Branding and packaging are two areas in which a company can design a product in a way that will make it be perceived differently enough from competitors’ products that it will attract consumers. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: Product differentiation is the attempt to design a […]
QUESTION Goodyear tires and Publix foods are examples of private-label brands, those attached to products distributed by one store or chain. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: Private brands are generally lower priced than national brands, and consumers may consider them less prestigious.
QUESTION Illegal imitations of national brand-name products are called copycat brands. Indicate whether the statement is true or false. ANSWER Answer: FALSE Explanation: Illegal imitations of national brand-name products are called knockoff brands.
QUESTION Objectives used when assigning prices to things include matching or beating the competition, making products more affordable to certain people, and creating prestige. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: Three of the five pricing objectives are to match or beat the competition, to make products more affordable […]
QUESTION Impressed with the customer insights provided by the Fisher-Price Play Lab, a manager proposes to expand the company’s observational research efforts. Which of the following is NOT a significant problem with observational research approaches? A) Some qualities and beliefs cannot be observed. B) Different observers often draw different conclusions from the same behavior. C) […]
QUESTION The statements above most strongly support which of the following conclusions? A) The majority of Apple customers believe that owning a Mac makes one independent and innovative. B) The most effective way to get true believer customers is to convince customers that buying your brand will make them independent. C) Apple’s true believers have […]
QUESTION Which of the following is an assumption made by the argument above? A) Sales of the Hawaiian Burger would have been even higher had the burger included a slice of ham as well. B) The Hawaiian Burger and the Mexican Burger have similar production costs. C) There is no significant difference in the amount […]
QUESTION Which of the following actions is most likely to jeopardize the meaning of the Apple brand in the eyes of its “true believers”? A) collaborating with other media technology manufacturers and producing a standard interface and feature set that governs future product development B) producing an elite line of products that most consumers cannot […]
