MP Ch 10

A __________ is the marketing term for a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value.

• marketing strategy

• utility

• product

• process

• market factor

The decision an organization makes to use a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors is called _______.

• licensing

• branding

• copyrighting

• trademarking

• product identification

Hedge, a smartphone manufacturer, has launched its new products—HY15, HY20, and HY50. These smartphone models are part of its HY series. HY15, being the most budget friendly, attracts more consumers and achieves better sales. In this scenario, Hedge's HY15 smartphone model is an example of a(n)_______

• convenience product

• product item

• unsought product

• product line

Apple's products are well known and valued because the demand, customer loyalty, and company's price premium rank high in the consumer tech industry. This is an example of _______.

• brand equity

• brand loyalty

• brand mark

• individual branding

Thumbs Up sells soft drinks, juices, different types of waters, sports drinks, energy drinks, and teas. Taken together, these products are considered Thumbs Up's _______.

• product line

• product mix

• product mix width

• product line depth

All of the different cereals manufactured by NaturalBreakfasts carry the same brand name. NaturalBreakfasts uses family branding instead of individual branding. Which of the following illustrates the difference between individual and family branding?

• In individual branding, different brand names are used for different products, whereas in family branding several different products are marketed under the same brand name.

• Companies use individual branding when products do not vary in use or performance, whereas companies use family branding when products vary greatly in use or performance.

• Individual branding identifies the brand of a part that makes up a product, whereas family branding identifies the entire product.

• Individual branding is used when two brands receive equal treatment, whereas family branding is used when two brands borrow from each other's brand equity.

Cortez Foods Inc. is a company that manufactures packaged food. It sells several varieties of packaged food such as chips, cupcakes, candies, crackers, fruit juices, and carbonated drinks. It receives its largest profit from its newly introduced line of tropical fruit juices that are available in different flavors, such as orange, apple, lychee, and cranberry. Recently, Cortez has been exploring mixing flavors and has created a new lychee and cranberry juice drink. This is an example of a ________.

• product line

• product mix

• product modification

• repositioning

CarWorks, an automobile company, uses a unique tire design on its vehicles. A rival company was found copying the exact design for its automobiles. CarWorks filed a legal claim against the rival company regarding this issue and won the lawsuit. In this scenario, CarWorks's unique tire design is a registered ________.

• captive brand

• trademark

• private brand

• service mark

Yater's Inc. is a food and beverage company based in the United States. The company decides to market and sell its products in all European countries under the same brand name. In this scenario, Yater's Inc. has decided to use a(n) ________.

• transactional marketing strategy

• co-branding strategy

• one-brand-name strategy

• individual branding strategy

Carrie is considering several different universities. She wants a university that has a strong pre-med program because she wants to become a doctor. She also wants a university that is small. Furthermore, Carrie doesn't want to go too far from her home in Indiana. A university is an example of a heterogeneous shopping product, and Carrie is having difficulty comparing universities because of all of the following EXCEPT ________.

• the prices vary significantly

• the quality of the courses varies significantly

• the distance from home varies significantly

• the universities considered are all the same