Product and Brand Management Review Questions
Course Introduction
Product and Brand Management explores the strategic and tactical aspects of creating, developing, and sustaining successful products and brands in highly competitive markets. The course examines the product lifecycle, new product development, portfolio management, and the importance of brand equity in influencing consumer behavior and loyalty. Students will learn how to craft compelling brand identities, position products, manage line extensions, and respond to market trends through case studies and applied projects. Emphasis is placed on integrating marketing, innovation, and communication strategies to build strong, enduring brands that drive business growth.
Recommended Textbook
Marketing 11th Edition by Charles W. Lamb
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21 Chapters
3517 Verified Questions
3517 Flashcards
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Page 2
Chapter 1: An Overview of Marketing
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141 Verified Questions
141 Flashcards
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Sample Questions
Q1) Refer to Ritz-Carlton Hotels.The chief operating officer's statement regarding sales and advertising illustrates which marketing management philosophy embraced by this company?
A) sales
B) market
C) production
D) societal
E) promotional Answer: B
Q2) Refer to Starbucks.For more than thirty years Starbucks held the orientation of "If we build it,they will come." This philosophy is most in line with a _____ orientation.
A) sales
B) market
C) production
D) societal
E) product Answer: C
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Page 3
Chapter 2: Strategic Planning for Competitive Advantage
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174 Verified Questions
174 Flashcards
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Sample Questions
Q1) The starting point of any firm's marketing mix is the:
A) analysis of what production equipment is available and owned by the company
B) design of the promotion campaign to be used for the product
C) selection of the places through which the good or service will be sold
D) determination of the product's price, enabling future revenues and budgets to be estimated
E) development of the good or service to be sold
Answer: E
Q2) Earl is starting a new bank.Before their opening day Earl had a meeting with all employees.He discussed their mission,defined objectives for the bank for the coming years and shared who their target market is.He talked about their product offerings and where their future branches would be located.Earl is sharing the bank's _____.
A) reengineering
B) hierarchical restructuring
C) financial analysis
D) marketing plan
E) strategic contingency planning
Answer: D
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4
Chapter 3: Ethics & Social Responsibility
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118 Verified Questions
118 Flashcards
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Sample Questions
Q1) Monique Penn makes stunningly expensive one-of-a-kind bracelets at luxury stores such as Bergdorf-Goodman.Portions of the proceeds from the sales of its jewelry go to support the Alaska Native Arts Foundation,which trains and educates indigenous people and to Charity Water,a nonprofit organization with a mission to bring clean water to impoverished people.Imagine someone is motivated to buy a piece of her jewelry in order to benefit one of the above nonprofits.This customer wants to ask Penn the "Five Questions to Ask before Participating in a Cause-Related Marketing Program." Which question would Monique Penn have the most trouble answering candidly?
A) Is the company committed?
B) How is the program structured?
C) How will the organization that benefits use my money?
D) Does she find the program meaningful?
E) Who does this program benefit?
Answer: B
Q2) List the six modes of social control.
Answer: The six modes of social control are (1)ethics,(2)laws,(3)formal and informal groups,(4)self- regulation,(5)the media,and (6)an active civil society.
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Page 5
Chapter 4: The Marketing Environment
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142 Verified Questions
142 Flashcards
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Sample Questions
Q1) Marketers can control the external environment in which their organizations operate.
A)True
B)False
Q2) Merissa Champlain designs and sells clothes for young working women.Her marketing managers recently told her that she'll be in financial trouble unless she starts designing clothes suited to Gen Yers.Why is this?
A) Gen Yers are picky
B) Gen Yers are more multicultural
C) Baby boomers provide all of the disposable income for Gen Y members
D) Demographically, Gen Yers are an extremely large group of consumers
E) Gen Yers are easily swayed by traditional promotion media
Q3) The _____ is the federal government agency charged with enforcing regulations against selling and distributing adulterated,misbranded,or hazardous products of a specific type.
A) Federal Trade Commission
B) Consumer Product Protection Commission
C) U.S. Justice Department
D) Food and Drug Administration
E) American Safety League
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Page 6
Chapter 5: Developing a Global Vision
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160 Verified Questions
160 Flashcards
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Sample Questions
Q1) Muslim countries are receptive to most Disney products,but they have asked Disney not to include Piglet when it sells its Winnie the Pooh characters because Muslims (as a part of their religious beliefs)contend that pork in any form is unclean.This is an example of a _____ factor that directly affects Disney's global operation.
A) political structure
B) cultural
C) technological
D) competitive
E) natural resource
Q2) All of the following are reasons for dumping EXCEPT:
A) lowering unit costs by exploiting large-scale productions
B) attempting to avoid costly tariffs in the country to which the product is exported
C) attempting to maintain stable prices during periods of exchange rate fluctuations
D) temporarily distributing products in overseas markets to offset slack demand in the home market
E) trying to increase an overseas market share
Q3) Why is developing a global vision important for firms in the United States?
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Chapter 6: Consumer Decision Making
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180 Verified Questions
180 Flashcards
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Sample Questions
Q1) Opinion leaders are often the first to try new products and services.
A)True
B)False
Q2) A group of brands,resulting from an information search,from which a buyer can choose is referred to as the buyer's:
A) evoked set
B) primary set
C) inert set
D) complete set
E) justifiable set
Q3) When Avril went to purchase a birthday card for her new boyfriend,she went to three stores and spent four hours reading over five hundred cards before selecting the perfect one.This card (which cost $3.25)is properly designated a high-involvement product because of:
A) brand loyalty
B) situational factors
C) financial risk
D) cognitive dissonance
E) trial investment
Q4) Compare and contrast beliefs and attitudes.
Page 8
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Chapter 7: Business Marketing
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196 Verified Questions
196 Flashcards
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Sample Questions
Q1) Axel Spring AG,one of Europe's largest newspaper publishers,with 10,000 employees and more than 150 papers in 30 countries,announced it would switch its entire operation from PCs to Macs.Axel decided to make a switch to Apple because the company's layout work was already being done by Macs,the Macs were more user friendly,more elegant,and cheaper to maintain than they had been in the past.This is an example of a
A) new buy
B) value buy
C) straight rebuy
D) modified rebuy
E) make-or-buy
Q2) A cooperative agreement between business firms is a:
A) shared capital contract
B) global partner development strategy
C) strategic alliance
D) joint contract
E) comarketing effort
Q3) You overhear a salesperson saying,"I don't do anything with my straight-rebuy customers because they don't expect any service." Comment on his statement.
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Page 9
Chapter 8: Segmenting and Targeting Markets
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208 Verified Questions
208 Flashcards
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Sample Questions
Q1) _____ is the process of grouping customers into market segments according to what is sought from the product.
A) Benefit segmentation
B) Value-added segmentation
C) Lifestyle segmentation
D) Macrosegmentation
E) Psychographic segmentation
Q2) Market segmentation can assist marketers to do all of the following EXCEPT:
A) develop more precise definitions of customer needs and wants
B) identify which variable base should be used for segmenting
C) more accurately define marketing objectives
D) improve resource allocation
E) evaluate performance
Q3) A product's position refers to where it is located on store shelves.
A)True
B)False
Q4) Name the four broad segments of the business market.
Q5) Describe psychographic segmentation and discuss why marketers use the basis for segmenting markets. List the four psychographic variables commonly used as segmentation bases.
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Chapter 9: Decision Support Systems and Marketing Research
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202 Verified Questions
202 Flashcards
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Sample Questions
Q1) When assessing the quality of secondary data,it is:
A) not necessary to know why the data were collected in the first place
B) important to be able to have easy access to the data
C) important to know the purpose for which the data were originally collected
D) not important to know when the data were collected
E) imperative to use the same methods and procedures when primary data are collected
Q2) When Wilson,a manufacturer of tennis racquets,sent a team of researchers,designers,and tennis pros out to visit with 40 women tennis players of various abilities in locations from California to Florida to find out what women players want in a racquet,what kind of research were they conducting?
A) heuristic
B) primary
C) cohesive
D) random
E) secondary
Q3) One advantage of Internet surveys is dramatically reduced costs.
A)True
B)False
Q4) Discuss two advantages and two disadvantages of using primary data.
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Chapter 10: Product Concepts
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174 Verified Questions
174 Flashcards
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Sample Questions
Q1) When Proctor & Gamble removed potentially dangerous dyes and chemicals from its Tide detergent product and introduced Tide Free they were making a _____.
A) product line contraction
B) quality modification
C) aesthetics modification
D) obsolescence factor
E) functional modification
Q2) _____ products are purchased with little shopping effort.These products typically are purchased regularly,usually with little planning,and require wide distribution.
A) Convenience
B) Specialty
C) Branded shopping
D) Unbranded shopping
E) Generic
Q3) What is the difference between a homogeneous shopping product and a heterogeneous shopping product? Give specific examples of products that fit into each category to help illustrate your answer.
Q4) How would a marketer define the term product?
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Chapter 11: Developing and Managing Products
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172 Verified Questions
172 Flashcards
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Sample Questions
Q1) Consumers described as laggards tend to rely on group norms when deciding to adopt an innovation.
A)True
B)False
Q2) List the four stages of the product life cycle and discuss the typical characteristics for each stage.
Q3) Victorinex has long manufactured Swiss Army knives and developed a line of upscale Swiss Army watches.The Swiss Army brand gave the company credibility over other watch manufacturers and allowed the company to continue targeting sports-minded males between the ages of 18 and 35.Victorinex used which strategy to create new products?
A) new-to-the-world product
B) new product line
C) repositioned product
D) addition to a current product line
E) discontinuous innovation
Q4) Adaptation is the process by which the adoption of an innovation spreads.
A)True
B)False
Q5) List four potential advantages that come to the company that is first to market.
Page 13
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Chapter 12: Services and Nonprofit Organization Marketing
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167 Verified Questions
167 Flashcards
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Sample Questions
Q1) Starbucks management has been trying to refocus on the things that made the company so successful.For example,Starbucks across the U.S.recently shut down for a short period of time for re-training,and the company has worked to make sure you can smell the fresh ground coffee aroma when you enter the store.However,when questioned,consumers tend to focus on the need for pricing incentives such as a frequent purchasing program.According to the _____,there may be a gap between what customers want and what Starbucks management thinks customers want.
A) gap model of service quality
B) service pyramid
C) four dimensions of service quality
D) service paradigm
E) service delineation matrix
Q2) Which type of service processing uses technology or brainpower directed at customer's assets?
A) people processing
B) possession processing
C) mental stimulus processing
D) information processing
E) technology processing
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14
Chapter 13: Marketing Channels
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145 Verified Questions
145 Flashcards
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Sample Questions
Q1) LoneStar Bar & Grill is a small chain of restaurants that feature marinated steaks.The marinade is so popular that LoneStar sells it at its restaurants and also sells it at Kroger supermarkets.This is an example of intensive distribution.
A)True
B)False
Q2) Intermediaries must perform three basic functions.Name these functions,and describe the activities involved in each function.
Q3) Transactional channel functions include all of the following activities EXCEPT:
A) contacting buyers
B) promoting the products to be sold
C) taking the risks associated with product inventories
D) negotiating the sale
E) physical distribution and sorting
Q4) Name and briefly discuss two alternative channel arrangements that can be used to move products.
Q5) A retail clothing store in a small northwest Georgia community is the sole distributor of Spanx brand hosiery in the region.How does this form of market coverage benefit the retailer? How does it benefit the manufacturer?
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Chapter 14: Supply Chain Management
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147 Verified Questions
147 Flashcards
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Sample Questions
Q1) Refer to Fishy Business.The way a restaurant coordinates and integrates the activities performed by its supply chain members into a collection of seamless end-to-end processes is an example of:
A) yield management
B) channel power
C) materials handling
D) supply chain management
E) physical distribution
Q2) Global supply chains are particularly at risk regarding supply chain security.
A)True
B)False
Q3) Refer to Whirlpool and Lowe's.Which business process are Whirlpool and Lowe's using when they work together to align supply and demand throughout the supply chain?
A) dependent materials-handling
B) outsourcing
C) warehousing
D) demand management
E) channel rotation
Q4) Discuss the financial implications of the returns management process.
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Chapter 15: Retailing
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166 Verified Questions
166 Flashcards
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Sample Questions
Q1) A retailer in Winnsboro,Louisiana,is licensed to sell John Deere tractors. This retailer is a:
A) product and trade name franchisee
B) restricted franchisor
C) business format franchisee
D) licensed franchisor
E) relationship franchisee
Q2) _____ is a low-profile,yet important,form of retailing in which consumers get products out of automated machines,and it accounts for $40 billion worth of sales each year in the United States.
A) Automatic vending
B) Party-plan selling
C) Direct marketing
D) A pyramid scheme
E) Professional selling
Q3) M-commerce is a type of managed commerce in which both buyer and seller end the transaction with a win-win feeling.
A)True
B)False
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Page 17
Chapter 16: Promotional Planning for Competitive Advantage
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159 Verified Questions
159 Flashcards
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Sample Questions
Q1) You are the promotions director for Back to Nature Crispy Wheats,baked snack crackers .Describe the steps in the communication process in your promotion campaign,using specific examples of the actions that will take place in promoting the crackers.
Q2) If a business studied its promotional strategies by looking at sales trends and market research,it would be using direct feedback to evaluate its promotional strategies.
A)True
B)False
Q3) Anything that interferes with,distorts,or slows the transmission of information in the communication process is referred to as:
A) media communication
B) feedback
C) static
D) nonpaid communication
E) noise
Q4) Define promotion and discuss its role in a company's marketing mix.
Q5) The promotional mix is made up of a blend of four promotional tools.Name and briefly define each of these four tools.
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Chapter 17: Advertising and Public Relations
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186 Verified Questions
186 Flashcards
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Sample Questions
Q1) An article in the Wall Street Journal about GM's turn around strategy and new upcoming product,the Volt,would be an example of _____.
A) direct selling
B) news marketing
C) publicity
D) event marketing
E) direct marketing
Q2) The Swine Palace Theater runs ads in the entertainment section of the local newspaper every first weekend of each month.This is a _____ scheduling plan.
A) flighted
B) continuous
C) bursting
D) seasonal
E) replication
Q3) List and briefly describe the three basic types of media scheduling.Give an example of a product that would be likely to use each of these types of scheduling.
Q4) List and briefly describe five of the many functions commonly performed by public relations departments.
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Chapter 18: Sales Promotion and Personal Selling
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179 Verified Questions
179 Flashcards
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Sample Questions
Q1) Sales promotion offers an incentive to buy.
A)True
B)False
Q2) During the preapproach,the salesperson would:
A) ask for referrals
B) learn as much as possible about the prospect's organization and its buyers
C) create point-of-purchase displays
D) handle pricing objections
E) do all of these things
Q3) Why do some marketers offer rebates instead of price reductions to induce short-term sales?
A) Rebates are especially good at enticing purchases, but most consumers never bother to redeem them.
B) A price reduction of this type would likely be an example of price discrimination.
C) Rebates offer a more immediate reward than price reductions.
D) Rebates have a much higher redemption rate than coupons.
E) Rebates result in brand-loyal consumers.
Q4) Compare and contrast contests and sweepstakes.
Q5) What are the tasks in the sales management process?
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Chapter 19: Pricing Concepts
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179 Flashcards
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Sample Questions
Q1) Profit maximization is the price at which supply and demand are equal,and there is no inclination for prices to rise or fall.
A)True
B)False
Q2) Which of the following statements describes a limitation associated with break-even analysis?
A) It is sometimes difficult to ascertain whether a cost is fixed or variable.
B) It requires the calculation of marginal revenue.
C) It strictly considers demand.
D) It assumes variable cost per item, which is difficult to calculate.
E) It can only be expressed as a break-even point in dollar amounts.
Q3) Firms that price their products solely on the basis of costs are adhering to the marketing concept.
A)True
B)False
Q4) A firm has maximized its profits when its marginal revenue exceeds its marginal cost.
A)True B)False
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Chapter 20: Setting the Right Price
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183 Verified Questions
183 Flashcards
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Sample
Questions
Q1) Acme Lawnmowers sells its mowers to retailers at different prices,depending on whether they are independent stores or members of a national chain.It uses _____.
A) unfair trade practices
B) price fixing
C) price discrimination
D) predatory pricing
E) bait pricing
Q2) Eustis Lee is a lawyer who only handles DUI cases.No matter how quickly he resolves the case,he charges each customer $5,000.Lee justifies the fee because of his lengthy education and the years he has spent learning how the judicial system operates.Which pricing policy is the lawyer using?
A) professional services pricing
B) potential (or base) pricing
C) price maintenance
D) psychological pricing
E) flexible (or variable) pricing
Q3) Price fixing is only illegal in some instances.
A)True
B)False
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Page 22
Chapter 21: Customer Relationship Management (CRM)
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139 Verified Questions
139 Flashcards
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Sample Questions
Q1) Fingerhut,the catalog retailer,used _____ to determine that customers who change residences are three times more likely than customers who have not moved to buy tables,towels,and decorative products but no more likely to buy jewelry or footwear.As a result,Fingerhut created a catalog for people who have changed residences.
A) data mining
B) information search
C) information retrieval channels
D) evoked sets
E) an information environment
Q2) Continental Airlines has a system that captures information on everything from flight schedules,seat inventories,and customer profiles that is accessible by 35 departments and 1,300 employees. Continental's system is an example of a(n):
A) information mine
B) knowledge distribution center
C) information extraction unit
D) information storage unit
E) data warehouse
Q3) What is a touch point? Give two examples of touch points.
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