MKT 475 Week 6 Quiz – Strayer
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Quiz
5 Chapter 8 and 9
Chapter
08
Innovation and New-Product
Strategy
True/False
Questions
1. New
products that provide improved performance or greater perceived value are known
as substantial innovations.
219
2.
Conformity between consumer value expectations and product use experience
indicates greater new-product opportunities.
221
3.
Analyzing customer value expectations to finding new-product opportunities are
very useful in evaluating potential transformational innovations.
222
4. Radical
innovations have the potential of creating negative impacts on the leading
firms that pursue new-product strategies using existing technologies.
222
5. When
products become commodities, profit margins increase and differentiated
advantages are easily achieved.
222
6. The
elite circle is a form of innovation through collaborative relationship in
which a company chooses participants, defines the problem, and chooses the
solution.
225
7.
A new-product screening involves testing if the product is commercially viable.
235
236
8.
A product prototype is the first completed model of the product that is ready
for commercial production and marketing.
241
9.
Product specifications describe what the product will do rather than how it
should be designed.
241
10.
The traditional method of market testing helps eliminate the risk present in
simulated tests of competitor exposure.
245
246
Multiple
Choice Questions
11. Which
of the following enables producing a product by building it up a layer at a
time?
A.
Additive manufacturing
B.
Productive layering
C.
Merchandise fabrication
D.
Object enabling
218
12.
_____ innovation occurs when products are radically new and the values created
are substantial.
A. Substantial
B. Transformational
C. Incremental
D. Nondescript
219
13. Products
that are significantly new and create important value for customers are called
_____
innovations.
A. transformational
B. incremental
C. substantial
D. nondescript
219
14. New
products that provide improved performance or greater perceived value (or lower
cost) are called _____
innovations.
A. transformational
B. substantial
C. nondescript
D.
incremental
219
15.
Customer _____ indicates how well the product use experience compares to the
value expected by the
buyer.
A. value
B. satisfaction
C. need
D. segmentation
221
16. _____
is the combination of benefits provided by a product minus all of the costs
incurred by the buyer.
A. Product use experience
B. Customer satisfaction
C. Customer
value
D. Leveraging cost
221
17. The
objective of _____ is to identify needs for new products and improvements in
existing products, processes, and supporting services.
A. test
marketing
B. incremental innovation
C. analytical positioning
techniques
D. customer value analysis
221
18. The
_____ is a form of innovation through collaborative relationship in which a
company chooses participants, defines the problem, and chooses the solution.
A.
elite circle
B.
innovation mall
C.
innovation community
D.
consortium
225
19.
The _____ is a form of innovation through collaborative relationships where a
company posts a problem and anyone can propose a solution.
A.
elite circle
B.
innovation mall
C.
innovation community
D.
consortium
225
20.
The _____ is a form of innovation through collaborative relationships where
anybody can propose problems, offer solutions, and decide which solutions to
use.
A.
elite circle
B.
innovation mall
C.
innovation community
D.
consortium
226
21.
The _____ is a form of innovation through collaborative relationships which
operates like a private club with participants jointly selecting problems,
deciding how to work on them, and choosing solutions.
A.
elite circle
B.
innovation mall
C.
innovation community
D.
consortium
226
22. Product _____ refers to when
a new product attracts sales from an existing
product.
A. cannibalization
B. knockdown
C. scaffolding
D. benchmarking
226
23. _____
consists of the pursuit of a deliberate, ongoing strategy of developing and
introducing new products that attract the buyers of a company's existing
products.
A. Sustained innovation
B. Proactive
cannibalization
C. Cross production
D. Planned obsolescence
226
24. The
company's _____ spells out management's choice of the company's most promising
opportunities for new products.
A. mission statement
B. vision
consortium
C. innovation strategy
D. articles of incorporation
227
25. Which of the following is the first step in the
new-product-planning process?
A.
Idea generation
B.
Marketing strategy development
C.
Product development
D.
Customer needs analysis
229
26.
Which of the following is true of scanner-based tests?
A.
It uses cable television and a computerized database to track new product.
B.
It is the cheapest and quickest market test available.
C.
Its findings are more accurate than actual market tests.
D.
It is conducted in a fabricated shopping environment inside a research
facility.
245
27.
Which of the following marketing tests is conducted in an actual market
environment?
A.
Regression tests
B.
Simulated tests
C.
Traditional tests
D.
Web-enabled tests
246
28.
Which of the following is a description of the Generic (market-pull) products
process type?
A. The team begins with a market
opportunity and selects appropriate technologies to meet customer needs.
B.
The team begins with a new technology, and then finds an appropriate market.
C.
The team assumes that the new product will be built around an established
technological subsystem.
D.
Characteristics of the product are highly constrained by the production
process.
249
29.
Which of the following are examples of quick-build products?
A.
Sporting goods, furniture, tools
B.
Software, cellular phones
C.
Pharmaceuticals, space systems
D.
Airplanes, jet engines, automobiles
249
30.
Which of the following describes the process for platform products?
A.
Characteristics of the product are highly constrained by the production
process.
B.
New products are slight variations of existing configurations.
C.
System must be decomposed into several subsystems and many components.
D.
The team assumes that the new product will be built around an established
technological subsystem.
249
Essay
Questions
31.
How can innovations be classified? What are the different types of innovations?
32.
Describe the various forms of innovation through collaborations?
33. What
is proactive cannibalization and what is the strategic logic of this concept?
34. Describe
how focus groups help generate new-product ideas.
35. Explain
the importance of concept evaluation in new-product planning.
Chapter
09
Strategic Brand Management
True/False
Questions
1. Product
life cycles are becoming longer for many products due to new technology,
rapidly changing preferences of buyers and intense competition.
264
2. Preference
mapping offers useful guidelines for strategic targeting and product
positioning.
265
3. The
brand as a person (brand personality) perspective recognizes that strong brands
may have an identity beyond the product or the company, which has positive
impacts on the customer relationship and perception of value.
266
4. Combination
branding places a brand name on one or more lines of related products
representing different product categories.
268
5.
In private branding, retailers with established brand names contract with
producers to manufacture and place the retailer’s brand name on products sold
by the retailer.
268
6. A
disadvantage of fighter brands is that they may cannibalize the company’s
premium offering.
2
7. Stretching
the brand vertically consists of launching a new product line in another
product class.
2
8.
Moving the brand down is relatively easy to pursue since it benefits from the
image of the higher-level brand.
2
9.
Brand extension consists of two well-known brands working together in
promoting their products.
2
10. Co-branding
is the sale of a firm’s brand name to another company for use on a noncompeting
product.
2
Multiple
Choice Questions
11. A
_____ is intended to meet the needs of buyers, and it may consist of objects,
services, organizations, places, people, and
ideas.
A. product
B. brand
C. resource
D. trademark
255
12. A
name, term, design, symbol, or any other feature that identifies one seller's
good or service as distinct from those of other sellers is known as a(n)
_____.
A. product
B. merchandise
C. brand
D. advertisement
255
13. According
to the American Marketing Association, the legal term for brand is
_____.
A. merchandise
B. asset
C. patent
D. trademark
255
14. If
a brand is used for the firm as a whole, then it is referred to as a
_____.
A. trade name
B. corporation
C. trademark
D. patent
255
15. Which
of the following is a function of brands for buyers?
A.
Facilitate the introduction of new products
B.
Reduce customer search costs
C.
Raise the buyers’ perceived risk
D.
Curtail premium pricing
256
16.
For buyers, brands play the function of:
A.
aiding repeat purchases.
B.
reducing premium pricing.
C.
minimizing buyers’ perceived risks.
D.
facilitating brand loyalty.
256
17.
Which of the following is a function of brands for sellers?
A.
Reduce sellers’ perceived risks
B.
Facilitate low production costs
C.
Diminish market segmentation, offering products to a larger target
D.
Facilitate the introduction of new products
256
18. Which of the following about brands is true?
A. Brands facilitate promotional effectiveness for
sellers.
B. Brands help reduce prices for buyers.
C. Brands minimize market segmentation to cater to a
larger target.
D. Brands enhance buyers’ perceived risks.
256
19. Which
of the following leads to a negative impact on brand management?
A.
Reduced customer search costs
B.
Fragmentation of markets and media
C.
Increased brand loyalty
D.
Reduction in buyer’s perceived risk
257
20.
Marketing plans for specific brands are usually developed at _____ level.
A. market-driven
management
B. product group/marketing management
C. product portfolio
management
D. product/brand management
258
21. A business that has
several product categories and/or brands may assign responsibility for
coordinating the initiatives of product or brand managers to _____.
A. the chief executive of the SBU
B. a product director
C. a product portfolio manager
D. a brand analyst
259
22.
_____ management is normally assigned to the chief executive of the strategic
business unit, the corporate level of an organization, or a team of top
executives.
A. Product/brand
B. Product
group/marketing
C. Product portfolio
D. Market-driven
260
23. Which
of the following activities of strategic brand management primarily provides
essential information for decision making for other brand management
activities?
A. Leveraging the brand
B. Brand equity
management
C. Brand identity strategy
D. Strategic brand analysis
261
24. The
intent of _____ is to determine “a unique set of brand associations that the
brand strategist aspires to create or maintain.”
A. brand
identity strategy
B. brand equity management
C. strategic brand
analysis
D. brand equity measurement
261
25.
_____ consists of coordinating the organization's system of brands with the
objective of achieving optimal system performance. It focuses on brand
interrelations rather than an individual brand.
A. Strategic brand analysis
B. Managing
the brand portfolio
C. Leveraging the brand
D. Brand equity
management
262
26.
_____ involves extending the core brand identity to a new addition to the
product line, or to a new product category.
A. Strategic
brand analysis
B. Managing the brand portfolio
C. Leveraging the
brand
D. Brand equity management
262
27.
Which of the following is the first step in tracking brand performance?
A.
Identifying problem products
B.
Selecting method(s) for evaluation
C.
Deciding how to resolve the problem
D.
Establishing the performance objectives
262
263
28. Using
the same brand name to market one or more lines of related goods which
represent different categories, such as Crest toothpaste, brushes, and floss,
is referred to as _____.
A. corporate branding
B. product-line
branding
C. combination branding
D. private branding
267
29.
Which of the following strategies for brand strength involves launching a brand
aimed to combat low-price competitors while protecting the company’s premium
priced offerings?
A. Brand
revitalization
B. Licensing
C. Fighter brands
D. Co-branding
2
30. Which
of the following brand leveraging strategies involves the sale of a firm’s
brand name to another company for use on a noncompeting product?
A. Line extension
B. Brand
extension
C. Co-branding
D. Licensing
2
Essay
Questions
31.
What functions do brands serve for sellers?
32. Explain
three internal and external forces that create hurdles for brand managers in
their efforts to build strong brands. What is one key to reducing these
negative impacts on brand-building strategies?
33. List
the measures that Aaker proposes to capture all relevant aspects of brand
equity.
34. Brands
that have been successful over a long time period offer useful insights about
brand strategy management. Discuss some of these insights.
35. Discuss
the state of counterfeit brands, the ethical issues, the involvement of law
enforcement, and the role of the internet in counterfeiting.
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