MKTG 2080 EXAM 4 QUESTIONS AND
ANSWERS ALL CORRECT
A company's attempt to rebuild its brand image and increase positive perceptions of its
brand is an example of - Answer- brand revitalization
The name, term, symbol, design, or any combination of these that identifies and
differentiates a firm's products is termed as - Answer- brand
Brand has the closest association to _____ in a firm's marketing mix. - Answer- product
The specific combination of goods, services, or ideas that a firm offers to its target
market is referred to as - Answer- a product
Which of the following refers to the creation of a new or significantly improved product
offering for product marketers? - Answer- innovation
Which of the following is the main reason that firms seek to innovate their products? -
Answer- maintain or advance market positioning
New products that represent the smallest percentage but carries the most potential (and
risk) for the company introducing them are referred to as - Answer- new-to-the-market
products
If Dell, which currently does not offer an e-reader, decided to enter the market with one,
this e-reader would be classified as - Answer- new category entry
Apple produces the iPhone, iPad, Macbook Pro, Apple Watch, and Apple TV. As a
group, these items represent a - Answer- product line
All of the following represent advantages of a product line extension except - Answer-
certain market acceptance of the new product
Within which product category would a product labeled "new and improved" be
classified? - Answer- revamped product
This process gives marketers a way to figure out who will likely buy their product over a
period of time, plan an appropriate marketing mix, and forecast potential sales. -
Answer- diffusion
, Which of the following accurately represents the order of steps in the consumer
adoption process? - Answer- awareness, interest, evaluation, trial, and adoption
Leonardo wants to join a new health club. His friend belongs to a club that Leonardo
read about on social media. He decides to use his friend's free guest passes to try out
the club and see if it meets his needs. This situation illustrates which stage of the
consumer adoption process? - Answer- trial
Diffusion gives marketers a way to figure out who will least likely purchase their product
over a period of time, plan an appropriate marketing plan, and forecast lost sales. (T/F) -
Answer- False
Thuan came home from school talking about the fidget spinner that his school friends
are playing with and buying. This example best illustrates which stage of the consumer
adoption process? - Answer- awareness
Devon is considered to be tech-savvy by his friends. He is willing to take risks when it
comes to trying new products and is always the first in his group to get the latest
gadget. What type of product adopter is Devon? - Answer- innovator
Marketers seek to gain this type of adopter's acceptance because this adopter tends to
be an opinion leader who is willing to talk to other people about his/her purchase
experiences. This type of adopter is referred to as a(n) - Answer- early adopter
Keisha is in the market for a new tablet computer. She has spent quite a bit of time
gathering information and thinking about the purchase. She has asked her friends for
opinions about the models they own and is happy that she has a wide variety of models
from which to choose. Keisha is most likely what type of adopter? - Answer- early
majority
The marketers at Garnier included a sample of its new hair conditioner within the pages
of the latest Vogue magazine. National sales increased dramatically within a few weeks,
an example of this product's - Answer- trialability
A company needs to simplify a product before sales will increase; it does this because -
Answer- an easier-to-understand product will diffuse faster
When a company generates a collection of product concepts to determine potentially
viable new products, this illustrates which step of the new-product development
process? - Answer- idea generation
The highest level of risk in new-product development occurs when - Answer- the
product fails to meet the needs of customers
Firms that want to maintain or improve their competitive position in the marketplace
must maintain the success of their existing product line. (T/F) - Answer- False
ANSWERS ALL CORRECT
A company's attempt to rebuild its brand image and increase positive perceptions of its
brand is an example of - Answer- brand revitalization
The name, term, symbol, design, or any combination of these that identifies and
differentiates a firm's products is termed as - Answer- brand
Brand has the closest association to _____ in a firm's marketing mix. - Answer- product
The specific combination of goods, services, or ideas that a firm offers to its target
market is referred to as - Answer- a product
Which of the following refers to the creation of a new or significantly improved product
offering for product marketers? - Answer- innovation
Which of the following is the main reason that firms seek to innovate their products? -
Answer- maintain or advance market positioning
New products that represent the smallest percentage but carries the most potential (and
risk) for the company introducing them are referred to as - Answer- new-to-the-market
products
If Dell, which currently does not offer an e-reader, decided to enter the market with one,
this e-reader would be classified as - Answer- new category entry
Apple produces the iPhone, iPad, Macbook Pro, Apple Watch, and Apple TV. As a
group, these items represent a - Answer- product line
All of the following represent advantages of a product line extension except - Answer-
certain market acceptance of the new product
Within which product category would a product labeled "new and improved" be
classified? - Answer- revamped product
This process gives marketers a way to figure out who will likely buy their product over a
period of time, plan an appropriate marketing mix, and forecast potential sales. -
Answer- diffusion
, Which of the following accurately represents the order of steps in the consumer
adoption process? - Answer- awareness, interest, evaluation, trial, and adoption
Leonardo wants to join a new health club. His friend belongs to a club that Leonardo
read about on social media. He decides to use his friend's free guest passes to try out
the club and see if it meets his needs. This situation illustrates which stage of the
consumer adoption process? - Answer- trial
Diffusion gives marketers a way to figure out who will least likely purchase their product
over a period of time, plan an appropriate marketing plan, and forecast lost sales. (T/F) -
Answer- False
Thuan came home from school talking about the fidget spinner that his school friends
are playing with and buying. This example best illustrates which stage of the consumer
adoption process? - Answer- awareness
Devon is considered to be tech-savvy by his friends. He is willing to take risks when it
comes to trying new products and is always the first in his group to get the latest
gadget. What type of product adopter is Devon? - Answer- innovator
Marketers seek to gain this type of adopter's acceptance because this adopter tends to
be an opinion leader who is willing to talk to other people about his/her purchase
experiences. This type of adopter is referred to as a(n) - Answer- early adopter
Keisha is in the market for a new tablet computer. She has spent quite a bit of time
gathering information and thinking about the purchase. She has asked her friends for
opinions about the models they own and is happy that she has a wide variety of models
from which to choose. Keisha is most likely what type of adopter? - Answer- early
majority
The marketers at Garnier included a sample of its new hair conditioner within the pages
of the latest Vogue magazine. National sales increased dramatically within a few weeks,
an example of this product's - Answer- trialability
A company needs to simplify a product before sales will increase; it does this because -
Answer- an easier-to-understand product will diffuse faster
When a company generates a collection of product concepts to determine potentially
viable new products, this illustrates which step of the new-product development
process? - Answer- idea generation
The highest level of risk in new-product development occurs when - Answer- the
product fails to meet the needs of customers
Firms that want to maintain or improve their competitive position in the marketplace
must maintain the success of their existing product line. (T/F) - Answer- False
