Page 387389 level of difficulty medium 142 as the

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Page: 387–389Level of difficulty: Medium142.As the marketing manager for your firm, you have been approached by your keycomponent manufacturer suggesting that your two firms “co-brand” or“ingredient brand” in the introduction of a new item. What are some of therequirements for succeeding in ingredient branding?Suggested Answer:First, the consumer must perceive that the ingredientmatters to the performance and success of the product. Secondly, consumersmust be convinced that not all ingredient brands are the same and that theingredient is superior. Third, a distinctive symbol or logo must clearly signalto consumers that the host product contains the ingredient. Fourth, acoordinated “pull” and “push” program must help consumers understand theimportance and advantages of the branded ingredient.Page: 392Level of difficulty: Hard143.In discussions with the packaging design team, you note that they do not havea firm design objective for the final package. In an internal memo to yourboss, you outline the objectives (both company and consumer orientated) thatyou wish to see implemented by the design team. List these objectives.Suggested Answer:The objectives of packaging should include theidentification of the brand; convey descriptive and persuasive information;facilitate product transportation and protection; assist at-home storage; and aidproduct consumption.Page: 393Level of difficulty: Hard144.Again, in discussions with the packaging design team, it seems that they areunclear as to what should be included on the final product (consumer package)packaging. You list these objectives in a memo. List these objectives here.Suggested Answer:Labels must firstidentifythe product or brand; the labelmight also grade the product. The label shoulddescribethe product andpromotethe product and finally the label must contain all required governmentinformation.Page: 394Level of difficulty: Medium145.Your service firm is contemplating adding a “guarantee” component. Membersof senior management are unclear as to the marketing advantages of aguarantee. How would you convince members of senior management that aguarantee can provide a marketing advantage?399
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Part 1: Defining Marketing and the Marketing ProcessSuggested Answer:Guarantees reduce the buyer’s perceived risk. Theysuggest that the service/product is of high quality and that the company and itsservice performance are dependable. All this enables the company to charge ahigher price than a competitor who is not offering an equivalent offer.Page: 396Level of difficulty: Easy146.As you contemplate the introduction of your company’s newest services—youthink that the offering of a service guarantee would be a “marketing coup” andcompletely surprise your competition. You remember that your marketingmanagement text stated that guarantees are most effective in two situations.

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Winter
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nagendra
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Basic Marketing Research
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Chapter 1 / Exercise 2
Basic Marketing Research
Brown/Churchill
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