Quiz 4
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Quiz 4

Course Number: MAR MAR2023, Summer 2010

College/University: University of Florida

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1. Powerade has introduced a new low-carb version of its sports drink called Powerade Option. In response, Gatorade immediately launches a similar low-carb version of its brand. This new type of Gatorade is an example of what kind of product? Student Response Value A. "Me-too" 100% B. "Follow-theleader" C. Category extension D. Generic E. "Carbon copy" General Feedback: lecture pg 61...

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has 1. Powerade introduced a new low-carb version of its sports drink called Powerade Option. In response, Gatorade immediately launches a similar low-carb version of its brand. This new type of Gatorade is an example of what kind of product? Student Response Value A. "Me-too" 100% B. "Follow-theleader" C. Category extension D. Generic E. "Carbon copy" General Feedback: lecture pg 61 A. "Me-too products" occur when a firm, in order to avoid losing market share to a competitor, markets products that mimic those competitor's products. In this quiz question, Gatorade's new drink is an example of a me-too product. B. "Follow-the-leader product" is not an actual marketing term. C. "Category extension" refers to a brand introducing a new product in an entirely different category. For example, if Gatorade were to introduce an energy bar or gum, this would be category extension. D. "Generic products" are those that do not have a brand name or trademark. In this quiz question, Gatorade's new drink does have a brand name and trademark, so it cannot be considered a generic product. E. "Carbon-copy product" is not an actual marketing term. Score: 1/1 Correct Answer Feedback 2. Burberry makes fine raincoats, clothing, and other items, many featuring the company's distinctive plaids. Originally found only in Great Britain, Burberry has opened exclusive shops in leading cities around the world to reach customers who value its name and quality. Burberry is selling in which classification of consumer goods? Student Response A. shopping goods Value Correct Answer Feedback Student Response Value B. derived goods C. unsought goods D. convenience goods E. specialty goods 100% Correct Answer Feedback General Feedback: TXT PG 257 A. "Shopping goods" are items for which the consumer compares several alternatives on criteria, such as price, quality or style. In this quiz question, the customers are not making comparisons, since they explicitly value Burberry's name and quality. B. "Derived goods" are industrial products whose demand is driven, or derived from, demand for consumer products. This term does not describe a classification of consumer goods. C. "Unsought goods" are items that the consumer either does not know about or knows about but does not initially want. In this quiz question, the customers known about and want Burberry products. D. "Convenience goods" are items that the consumer purchases frequently, conveniently and with a minimum of shopping effort. Raincoats and other clothing do not traditionally fall into this category of products. E. "Specialty goods" are items, such as luxury brand products, that the consumer makes a special effort to search out and buy. In this quiz question, Burberry customers who value the name and quality of the brand are being reached because the company is opening shops in leading cities. Score: 1/1 3. The introduction of electric tooth brushes into Portugal was very slow due to many circumstances. Although the tooth brushes were not too expensive, and they could be demonstrated to work better than manual brushing, the Portuguese people believe that personal hygiene should not be trusted to mechanical devices and that doing things the "old-fashioned" way is best. Which factor influencing diffusion of electric tooth brushes into Portugal contributed the most to its slow diffusion? Student Response Value risk complexity communicability compatibility 100% Correct Answer Feedback A. B. C. D. Student Response E. relative advantage Value Correct Answer Feedback General Feedback: Lecture page 63 A) In order to have a higher rate of diffusion a company would want to reduce the risk perceived by consumers from this new product. The toothbrushes were not too expensive so there was not any big risk. B) Complexity refers to how complicated the product is. An electric toothbrush is not a very complicated or complex product. C) In the question it said that the electric toothbrushes could be demonstrated to work better than manual brushing. Therefore, communicability was not a problem. D) The cultural belief that the old-fashioned way is best to do things is incompatible with the new product. The idea that personal hygiene should not be trusted to mechanical devices was not compatible with electric toothbrushes. E) It was shown that the electric toothbrushes worked better than manual brushing. So, the new brushes had a relative advantage over the old ones. The higher relative advantage perceived, the faster the rate of diffusion should be. Score: 1/1 4. You greatly admire a set of Ralph Lauren crystal goblets you see at a dinner party, and decide to buy four, despite the somewhat surprising price of $60 each. They are only available in your area in a Ralph Lauren Polo shop 40 miles from campus. Into which classification of consumer goods would the crystal goblets fall? Student Response Value A. derived goods B. specialty goods 100% C. convenience goods D. unsought goods E. shopping goods General Feedback: Text page 257 A) Derived goods is a made up term. B) Specialty goods are items, such as Tiffany sterling silver, that a consumer makes a special effort to search out and buy. In this question you have to make a special effort go find and buy the crystal goblets. Correct Answer Feedback C) Convenience goods are items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort. D) Unsought goods are items that the consumer either does not know about or knows about but does not initially want. E) Shopping goods are items for which the consumer compares several alternatives on criteria, such as price, quality, or style. Score: 1/1 5. Matt loves Nike. Not only does he own ten pairs of Nike sneakers, his entire wardrobe is made up of Nike clothing. He owns t-shirts, socks, hats, and athletic pants, all with the Nike swoosh. Matt's obsession with Nike can best be described as: Student Response Value A. Brand loyalty 100% B. C. D. E. General Feedback: Lecture page 57 By definition brand loyalty is a favorable attitude toward and consistent purchase of a single brand over time. Matt obviously displays a favorable attitude towards Nike and consistently purchases Nike merchandise, thus demonstrating his brand loyalty. Score: 1/1 Brand recognition Brand awareness Brand association Brand equity Correct Answer Feedback 6. Kalb Enterprises is trying to develop a good brand name for its revolutionary accounting software program. They turn to an external consultant to help The them. consultant gives them a list of characteristics of a "good" brand name. Which characteristic would NOT be on their list? Student Response Value A. Can be 100% pronounced in many ways Correct Answer Feedback Student Response B. Has no negative associations C. Translates to different languages well D. Easy to recognize and recall E. Conveys the benefits of the brand General Feedback: Textbook page 295 Value Correct Answer Feedback The brand name should translate well into other languages, be easy to recognize/recall, convey the benefits of the brand, and should not contain any negative associations. You also want the brand name to be memorable and distinct. Therefore, having a brand name that can be pronounced in many ways is not a characteristic of a good brand name. Score: 1/1 7. As you know, Barbie has broken up with her long term squeeze, Ken. She's decided she wants to get involved in some projects to keep her mind off heart-broken Ken. So Barbie decided to create a clothing line, snack foods, hair products, and new aerobics equipment. All of these products will be manufactured in Barbie's very own pink factory and will be sold with the Barbie brand on them. This type of branding is best described as: Student Response Value A. Family Branding 100% B. C. D. E. National Branding Multiple Branding Private Labeling Licensing Correct Answer Feedback General Feedback: LECTURE PG 57 A. "Family branding" is where a company uses one brand name for all its products in a product class in order to ease recognition. This strategy eases the introduction of new products, increases market acceptance, and lowers marketing costs. B. "National branding" is not an actual marketing term. "National brand", however, is a brand name that the manufacturer uses for its product wherever that product is sold. This requires larger amounts of advertising expenses, but national brands are often perceived to be of higher quality and can demand higher prices. C. "Multiple branding" is where a company uses several different brand names for several products that are essentially the same product. D. "Private labeling" is where a retailer buys products from various manufacturers and then markets those products under the retailer's own brand name. These goods are often referred to as `store brands' and tend to be less expensive than name brands because of lower advertising costs. E. "Licensing" is where a company offers the right to a trademark, patent, trade secret or other similarly valued items of intellectual property in return for a royalty or a fee. Score: 1/1 8. Bling Brothers is doing exceptionally well in the jewelry industry and has reached the maturity phase of the product cycle. They would like to extend this phase as long as possible to continue bringing in profits. Bling Brothers decides they will start exporting their product overseas. Which approach to extending PLCs does this example best illustrate? Student Response Value A. market 100% development B. category development C. product modification D. market penetration E. product repositioning General Feedback: LECTURE PG 55 A. "Market development" is a marketing strategy of selling new products to existing markets. This can be done by expanding the geographic base of the business, using promotion to get nonusers to use the product or promoting new uses for the product to increase usage by current customers. In this quiz question, Bling Brothers is expanding to an overseas market. B. "Category development" is not an actual marketing term. C. "Product modification" involves altering a product's characteristic, such as its quality, performance or appearance, to try to increase the product's sales. D. "Market penetration" is a marketing strategy of increasing sales of present products in Correct Answer Feedback existing markets. This can be done by pulling competitors' customers, getting current customers to increase their usage or attracting customers who don't currently use the product category. E. "Product repositioning" involves changing the place an offering occupies in a consumer's mind relative to competitive products. Score: 1/1 9. "Product class" refers to the entire product category or industry, while "product form" refers to: Student Response Value similarities within the category. variations from socioeconomic norms. the type of package. variations within 100% the class. Correct Answer Feedback A. B. C. D. E. a distinctive shape. General Feedback: Text page 286 A) Product form pertains to the differences within the category not the similarities. B) Socioeconomic norms have nothing to do with product class or product form. C) The product "form" in this case is not a reference to the packaging of a product. D) Product form is defined as the variations within a class of products. E) Product form is not a reference to a products shape. It refers to any variation within a product class. Score: 1/1 10. When consumers consider all types and brands of household cleaners, they are considering the _____ of household cleaners. When consumers limit their choice of household cleaners to only those that come in spray bottles, they are considering a _____ of household cleaners. Student Response Value A. product class; product brand B. product class; 100% product form C. product line; product mix D. product group; product brand E. product mix; product line Correct Answer Feedback General Feedback: Text page 286 A) Product class refers to the entire product category or industry such as household cleaners. However, product brand refers to only one specific brand of household cleaner, which is more specific than all cleaners that come in spray bottles. B) This is correct. Product class refers to all types and brands of household cleaners. Product form pertains to variations within the class, like only those that come in spray bottles. C) Product line is a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same type of outlets, or fall within a given price range. Product mix is the number of product lines offered by a company. This refers to a specific company not the products in an industry. D) Product group is not a term discussed in class or the text book. E) Product line and product mix are terms used when looking at one company. Here consumers are considering household cleaners for all the companies in the industry. Score: 1/1

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