FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 10: Product Concepts

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 71

Multiple Choice

Review LaterAdd Note

Review Later

Choice Homes,Inc. Choice Homes,Inc. ,based in Texas,built its reputation by building high-quality new homes,often at prices less than "used" ones.Choice Homes used mass purchasing power,innovative high-tech communications among employees to coordinate the building process,and other entrepreneurial strategies to hold costs down.Its homes are primarily targeted at first-time homeowners-to-be in an effort to get people out of apartments so they can experience the "American Dream" of home ownership for the same price as rent.Choice Homes later developed the "Choice Classic" brand name for higher-end homes targeted at wealthier dual-income couples.The Choice Classic name was designed to capitalize on the reputation of Choice Homes,especially for current Choice home owners who are ready to "move up" to a larger home.Recently,Choice Homes started a third line of homes called "Reflections," which are expensive,custom-designed homes located in exclusive,prestigious neighborhoods. -Refer to Choice Homes,Inc.Choice Homes is considering acquiring a mortgage and title company to add to its marketing power in selling homes.This acquisition would expand the firm's:

A) product mix width.
B) line breadth.
C) product item width.
D) product line length.
E) product breadth.

F) A) and B)
G) All of the above

Correct Answer

verified

Show Answer

Question 72

Multiple Choice

Review LaterAdd Note

Review Later

There are three major benefits when a firm contracts.When Ford divested itself of its unprofitable foreign luxury brands and Volvo,and discontinued its Mercury brand,which of the following was the most important benefit discussed in the case?

A) managers no longer waste resources on poorly performing brands
B) new product items have a greater chance of being successful
C) resources become concentrated on important Ford products
D) reposition Ford as a domestic carmaker only
E) all of the above

F) B) and E)
G) C) and D)

Correct Answer

verified

Show Answer

Question 73

Multiple Choice

Review LaterAdd Note

All of the following are functions of packaging EXCEPT:

When a company markets several different products under the same brand name,it is referred to as a(n) _____ brand.

Hardie Siding Products James Hardie began selling fiber cement siding products in the United States in 1989 to leading builders,lumberyards,and home improvement centers.Even though ads guaranteed the product would not rot or crack for 50 years,many builders hated the product.It was heavy to install,and it showed every flaw in a bad framing job.In 1997,Hardie decided to run ads in traditional lifestyle magazines and emphasize the emotional appeal of houses made with strong,weather-resistant materials.Soon consumers began asking their builders or remodelers to use the product.Trade ads were used to explain how builders could take advantage of the interest created by the ads in lifestyle magazines.By 2000,the HardiePlank was the number one brand of siding in North America.James Hardie is now the third most recognized brand of building material in the world. -Refer to Hardie Siding Products.HardiePlank siding is an example of a product:

A _____ is the part of the brand that can be spoken.

Choice Homes,Inc. Choice Homes,Inc. ,based in Texas,built its reputation by building high-quality new homes,often at prices less than "used" ones.Choice Homes used mass purchasing power,innovative high-tech communications among employees to coordinate the building process,and other entrepreneurial strategies to hold costs down.Its homes are primarily targeted at first-time homeowners-to-be in an effort to get people out of apartments so they can experience the "American Dream" of home ownership for the same price as rent.Choice Homes later developed the "Choice Classic" brand name for higher-end homes targeted at wealthier dual-income couples.The Choice Classic name was designed to capitalize on the reputation of Choice Homes,especially for current Choice home owners who are ready to "move up" to a larger home.Recently,Choice Homes started a third line of homes called "Reflections," which are expensive,custom-designed homes located in exclusive,prestigious neighborhoods. -Refer to Choice Homes,Inc.In a recent survey,Choice Homes' customers indicated that they thought their homes were of high quality,made lots of referrals to friends,and planned to buy a Choice Classic or Reflections home in the future.The customers' reactions indicate that Choice Homes has achieved:

Campbell's Most people recognize Campbell's as a brand of soup,but Campbell's also manufactures Pace Picante Sauce,Pepperidge Farms products,Prego Sauce,Swanson Broth,and V8 juice.Campbell's International division offers more than 20 brands of soups,sauces,beverages,and baked snacks in the Asia Pacific region,Greater Europe and Latin America.Products such as Arnott's biscuits and crackers and Bià Band soups are well known overseas.Campbell's products are sold in more than 120 countries. -Refer to Campbell's.Marco likes to pack a V8 juice in his lunch bag every day.Based on its intended use,Marco's V8 juice could best be classified as a _____ product.

Which of the following is the best example of a shopping product for most consumers?

Hardie Siding Products James Hardie began selling fiber cement siding products in the United States in 1989 to leading builders,lumberyards,and home improvement centers.Even though ads guaranteed the product would not rot or crack for 50 years,many builders hated the product.It was heavy to install,and it showed every flaw in a bad framing job.In 1997,Hardie decided to run ads in traditional lifestyle magazines and emphasize the emotional appeal of houses made with strong,weather-resistant materials.Soon consumers began asking their builders or remodelers to use the product.Trade ads were used to explain how builders could take advantage of the interest created by the ads in lifestyle magazines.By 2000,the HardiePlank was the number one brand of siding in North America.James Hardie is now the third most recognized brand of building material in the world. -Refer to Hardie Siding Products.What type of warranty is James Hardie offering in its promotions?

One of the leading manufacturers of choir robes has added different types of trim and fabric in the making of the robes.The company has not changed its prices.This is a(n) _____ modification.

Packaging is an important component of the product strategy.List and briefly describe the four major functions of packaging.

Nestlé When consumers think of Nestlé,they probably think of chocolate.Historically,though,Nestlé's confectionary business is its weakest area.Based in Switzerland,it is the world's largest food company,with a brand arsenal of Nescafé,Jenny Craig,Perrier,Purina,and PowerBar,just to name a few of its 30 product lines.Nestlé is hoping to become the "world's leading health,nutrition,and wellness firm" by spending billions of dollars on research and development of functional foods--foods that have pharmaceutical-like capabilities to enhance energy and heart,bone,gut,and other health.Nestlé wants consumers to see chocolate as a pharmaceutical product rather than just a treat.Part of this new focus includes streamlining the product mix by selling underperforming items or lines that do not fit its new direction.Critics claim that this new focus could hurt the company's existing brands if the new products fail.Additionally,it may be an uphill battle convincing consumers that a company known for indulgence is now a wellness company. -Refer to Nestlé.What adjustment to its product mix is Nestlé doing when it removes underperforming items from the market?

When Ford sold its stake in Volvo,Jaguar,.Aston Martin,and other brands,it __________.

Which of the following statements about bar codes is true?

Vick's,Nestlé,Pepsi,and Toyota products are examples of _____ brands because of who owns them.

The nutrition label on a package is an example of persuasive labeling.

What is the best generator of repeat sales?

A consumer who consistently and repeatedly purchases the same brand is said to have:

You are the U.S.brand manager of the Fluffit family of products.The products include a wide variety of synthetic and natural stuffing materials for furniture cushions,sleeping bags,quilts,and winter coats.The brand is a favorite among home repair enthusiasts and hobbyists of various kinds.Your firm would like to enter several foreign markets.Name and describe the three major alternative brand name choices for this global strategy.Discuss the viability of each alternative for Fluffit.