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Managing Products and Brands
Managing Products and Brands MCQs
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The product life cycle describes the stages a new product goes through in the ________:
introduction phase
test market
product development
marketplace
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During the introduction stage of the PLC sales grow slowly, and:
competition becomes tough
profit is minimal
more investors are needed
sales people are brought to push the product
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The marketing objective for the maturity stage of the PLC is to:
maintain brand loyalty
stress differentiation
harvest
deletion
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The stage of the PLC whose competitors appears is:
decline
competition is always there
maturity
growth
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The stage when the cost of gaining new buyers increases:
pre-investment
introduction
maturity stage
decline
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When a company retains the product but reduces marketing support costs it is in what stage of the PLC?
decline
maturity
growth
introduction
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A company will follow one of two strategies to handle a declining product: deletion or:
modification
harvesting
enhancement
strategic change
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How much does it take to go through a PLC?
1 day to 365 days
1 year to 5 years
1 year for consumer products and 5 years for industrial products
No set time
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How much does it take to go through a PLC?
1 day to 365 days
1 year to 5 years
1 year for consumer products and 5 years for industrial products
No set time
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A product life cycle that rises and falls several times is an indication of what product type?
fads
fashion goods
low learning products
high learning products
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A PLC curve that rises rapidly then falls quickly is indication of a:
fashion product
low learning product
fad
high learning product
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The concept that explains how a product spreads through the population is called the:
acceptance rate
diffusion of innovation
infusion of sales
entry rate
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Product managers are sometimes called _______:
manager of goods
consumer specialist
brand manager
product pusher
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Repositioning the product or product line is an attempt by the company to:
maximize profits
get more promotional support
help the sales of individual retail operations
bolster sales
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Changing the value offered up or down is an example of:
repositioning a product
changing your mind
decreasing overall costs
defensive marketing
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When companies reduce the content of packages without changing package size and then maintain or even increase price they are engaging in:
trading down
trading up
running flat
downsizing
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An organization using a name, phrase, design, symbols, or combination of these to identify its products is:
repositioning product lives
forming family units
trademarking products
branding products
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Which of the following is a trade name?
Wheatie
Campbell Soup Company
Diet Dr. Pepper
Wheat-Thins
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Trademarks, brand names, or trade names are registered with:
Canada Post
Consumer and Corporate Affairs Canada
Provincial Government
Canadian Patent Office
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A good brand name that gives added value to the product is called:
brand equity
licensing
brand personality
generic branding
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Warranties that are written statement of liabilities that are called:
full warranties
implied warranties
express warranties
limited coverage warranties