Marketing Final Exam

Breadth expansion b product portfolio width

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Unformatted text preview: OBJ: 10-3 TOP: AACSB Reflective MSC: BLOOMS Application 62. Cover Girl and Revlon are both recognized as leading manufacturers of cosmetics. Both companies have recently introduced cosmetics for the over-50 woman who does not have the same concerns as a 20-year-old girl. The introductions of these cosmetics are examples of the implementation of a _____ strategy. a. portfolio breadth expansion b. product portfolio width adjustment c. product item contraction d. product line extension e. repositioned marketing mix ANS: D Product line extension occurs when a firm adds a product to an existing product line to compete more broadly in the industry. PTS: 1 REF: 161 Thinking KEY: CB&E Model Product OBJ: 10-3 TOP: AACSB Reflective MSC: BLOOMS Application 63. At one point, Heinz made ketchup in multiple colors, including red, green, purple, pink, orange, and teal. While they were popular for a few years, consumers stopped buying the unusual colors and Heinz has dropped back to just making red ketchup. This is an example of the implementation of a _____ strategy. a. repositioning b. cannibalization c. product line extension d. product line contraction e. divestment ANS: D Product line contraction occurs when a company cuts its product offerings due to overextension of the product. PTS: 1 REF: 161 OBJ: 10-3 Thinking KEY: CB&E Model Product | CB&E Model Strategy TOP: AACSB Reflective MSC: BLOOMS Application 64. A _____ is a name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products. a. brand mark b. trademark c. brand name d. UPC e. brand ANS: E This is the definition of a brand. PTS: 1 REF: 162 Thinking KEY: CB&E Model Product OBJ: 10-4 TOP: AACSB Reflective MSC: BLOOMS Knowledge 65. A _____ is the part of the brand that can be spoken. a. brand equity b. service mark c. trademark d. brand name e. certification mark ANS: D Brand names are the part of the brand that can be spoken, including letters, words, and numbers. PTS: 1 REF: 162 Thinking KEY: CB&E Model Product OBJ: 10-4 TOP: AACSB Reflective MSC: BLOOMS Knowledge 66. The _____ is the element of a brand that cannot be spoken. a. brand mark b. trademark c. brand equity d. quality mark e. intangible product ANS: A Well-known symbols for brands are called their brand marks, but these elements cannot be spoken. PTS: 1 REF: 162 Thinking KEY: CB&E Model Product OBJ: 10-4 TOP: AACSB Reflective MSC: BLOOMS Knowledge 67. A Boston diamond distributor has developed the first branded diamond called Hearts on Fire to help smaller retailers counter the volume jewelers’ aggressive price discounting. This move is meant to: a. take away trademark rights b. build product identity and customer loyalty c. create a catchy phrase to promote diamonds d. combat the quality appeal of generic products e. combat low-cost production of generic brands ANS: B This represents one benefit of branding. PTS: 1 REF: 162 Thinking KEY: C...
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This document was uploaded on 09/29/2013.

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