Marketing Final Exam

Try it theyre going to love it and stick with it in

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Unformatted text preview: ed Gold Peak iced tea, a spokesperson for the company said, “In looking at the ready-to-drink tea market, we found that the one place that nobody seemed to be playing was in the category of classic iced teas like mother used to make. Gold Peak is a quality product that brings back that classic taste. We’re going to do a lot of sampling with this product because we believe that if people try it, they’re going to love it and stick with it.” In other words, its adoption rate will rely on its: a. compatibility b. comparability c. complexity d. trialability e. competitive advantage ANS: D Trialability refers to the degree to which a product can be tried on a limited basis. PTS: 1 REF: 180 Thinking KEY: CB&E Model Product OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Application 79. A biological metaphor that traces the stages of a product’s acceptance, from its introduction (birth) to its decline (death) is called the: a. product diffusion process b. product phase c. product adoption stages d. product evolution cycle e. product life cycle ANS: E The product life cycle is a useful marketing management diagnostic tool and a general guide for marketing planning in various “life cycle” stages. PTS: 1 REF: 180-181 Thinking KEY: CB&E Model Product OBJ: 11-5 TOP: AACSB Reflective MSC: BLOOMS Knowledge 80. The stages of the product life cycle, in order, are: a. introduction, maturity, decline b. introduction, growth, maturity, decline c. growth, maturity, plateau, decline d. e. innovation, early adoption, late adoption, laggard category acceptance, category growth, brand acceptance, brand growth ANS: B The four stages of the product life cycle are introduction, growth, maturity, and decline. PTS: 1 REF: 181 Thinking KEY: CB&E Model Product OBJ: 11-5 TOP: AACSB Reflective MSC: BLOOMS Analysis 81. All the brands that satisfy a particular type of need such as shaving products, laundry detergent, soft drinks, and furniture make up a(n): a. product life cycle stage b. primary group c. adopter category d. product category e. reference group ANS: D This is the definition of a product category. PTS: 1 REF: 181 Thinking KEY: CB&E Model Product OBJ: 11-5 TOP: AACSB Reflective MSC: BLOOMS Comprehension 82. Patio furniture, lighting fixtures, microwave ovens, canned corn, and athletic shoes are examples of: a. PLC line items b. line-extendable categories c. brand classes d. brand groupings e. product categories ANS: E A product category includes all brands that satisfy a particular type of need, such as those listed. PTS: 1 REF: 181 Thinking KEY: CB&E Model Product OBJ: 11-5 TOP: AACSB Reflective MSC: BLOOMS Application 83. A brand of iced tea called Gold Peak has high marketing costs as well as high production costs. Promotions for the product are aimed at gaining distribution and informing consumers that this premium product tastes like its home brewed. In which stage of the product life cycle is Gold Peak iced tea? a. Introductory b. Gr...
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