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Exam 6: Product and Brand Strategy

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Question 41

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Dure Plastics Inc.manufactures plastic products using injection-molding machines.The spare parts required for the injection machines are purchased from Nova Spares Company.The spare parts sourced from Nova Spares can be categorized as _____.

A) specialty goods
B) shopping goods
C) semifinished goods
D) organizational goods

E) None of the above
F) B) and C)

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Question 42

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Identify the primary reason for conducting a product audit.

A) To develop a marketing plan for new products
B) To detect sick products and bury them
C) To earn the estimated profits without introducing new products
D) To implement cost-cutting strategies without altering the product mix

E) None of the above
F) B) and D)

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Question 43

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Which of the following best defines tangible products?

Lystronia Inc.is a world-renowned manufacturer of culture media products.The company produces and supplies prepared media to laboratories all over the world for growing and testing microorganisms.Since Lystronia's customers are restricted to the healthcare industry,Lystronia typically operates in a _____.

_____ can be defined as the degree of excellence or superiority that an organization's product possesses.

Which of the following is true of brand equity?

In the context of brand and brand equity,which of the following is true of the multibranding strategy?

Major and minor equipment,such as basic machinery,tools,and other processing facilities,can be categorized as _____.

A product that is viewed in terms of the essential benefits that a buyer expects to receive from it is called a(n) _____.

Which of the following is a basic assumption underlying product classification schemes?

In a _____,a manager is responsible for everything from marketing research and package design to advertising for a single product or a very small group of new and existing products.

RytWell Inc.is a company that manufactures pens.It distributes pens to various industries in the United States of America.Because its products are used by almost every company in the market,RytWell Inc.most likely operates in a _____.

The depth of a product mix refers to the:

The demand for organizational goods is a(n) _____.

In the context of branding,brand equity:

In the context of the diffusion of innovation,_____ refer to buyers who are the first to purchase a new product.

Which of the following scenarios shows how a product is improved by modifying a product attribute?

Which of the following statements regarding organizational goods is true?

A producer of alcoholic beverages produces four different brands of beer: BlackStar,BlueStar,Grandeur,and Holmes.BlackStar is a standard brew,while BlueStar has a low alcohol content.Grandeur is low in calories,and Holmes has a high alcohol content.In this case,the manufacturer uses different brand names for each of its products to:

Alan visits a shopping mall in his neighborhood.He recollects his lessons from a marketing class and attempts to relate them to his observations at the mall.Which of Alan's interpretations is most accurate?