Marketing Final Exam

Inc choice homes is considering acquiring a mortgage

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Unformatted text preview: es (Choice, Choice Classic, and Reflections) represent the firm’s: a. line portfolio b. mix depth c. line breadth d. product line e. product itemization ANS: D A group of closely related product items is a product line. PTS: 1 REF: 159 Thinking KEY: CB&E Model Product OBJ: 10-3 TOP: AACSB Reflective MSC: BLOOMS Application 121. Refer to Choice Homes, Inc. Choice Homes is considering acquiring a mortgage and title company to add to its marketing power in selling homes. This acquisition would expand the firm’s: a. product mix width b. line breadth c. product item width d. product line length e. product breadth ANS: A By adding more product lines, Choice is expanding its product mix width. PTS: 1 REF: 159 Thinking KEY: CB&E Model Product OBJ: 10-3 TOP: AACSB Reflective MSC: BLOOMS Application 122. Refer to Choice Homes, Inc. Choice Homes is considering the development of a new category of small homes designed to replace low-income housing in the inner city. This strategy represents a: a. quality modification b. product line extension c. style modification d. product line contraction e. functional modification ANS: B Modifications are for existing product lines and items. A new line represents an extension. PTS: 1 REF: 161 OBJ: 10-3 Thinking KEY: CB&E Model Product | CB&E Model Strategy TOP: AACSB Reflective MSC: BLOOMS Application 123. Refer to Choice Homes, Inc. In a recent survey, Choice Homes’ customers indicated that they thought their homes were of high quality, made lots of referrals to friends, and planned to buy a Choice Classic or Reflections home in the future. The customers’ reactions indicate that Choice Homes has achieved: a. generic status b. private brand status c. brand equity d. superficial skills e. brand superiority ANS: C Brand equity indicates the brand has value because of its high awareness, perceived quality, and brand loyalty among customers. PTS: 1 REF: 162 Thinking KEY: CB&E Model Product OBJ: 10-4 TOP: AACSB Reflective MSC: BLOOMS Application Hardie Siding Products James Hardie began selling fiber cement siding products in the United States in 1989 to leading builders, lumberyards, and home improvement centers. Even though ads guaranteed the product would not rot or crack for 50 years, many builders hated the product. It was heavy to install, and it showed every flaw in a bad framing job. In 1997, Hardie decided to run ads in traditional lifestyle magazines and emphasize the emotional appeal of houses made with strong, weatherresistant materials. Soon consumers began asking their builders or remodelers to use the product. Trade ads were used to explain how builders could take advantage of the interest created by the ads in lifestyle magazines. By 2000, the HardiePlank was the number one brand of siding in North America. James Hardie is now the third most recognized brand of building material in the world. 124. Refer to Hardie Siding Products. HardiePlank siding is best described as a(n) _____ p...
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