Penn Foster 080604RR - VALUE CAPTURE AND VALUE DELIVERY

1. A firm's product line breadth is its
A. number of product lines.
B. number of categories that are mutually exclusive. C. number of SKUs per product line.
D. depth divided by its profitabilit
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2. Successful first movers create a market or a product category and benefit from being readily recognizable to consumers and
A. not needing to do test marketing.
B. using prototypes to dominate the market. C. not having to pay advertising expenses.
D. establishing an early market share lead.
3. The basic benefit of a brand is that it
A. creates a basis for effective packaging.
B. provides a way for a firm to differentiate its product offerings from those of its competitors. C. offers consumers promotional parity.
D. allows manufacturers to ignore promotional expenditures.
4. Between concept testing and market testing, a firm should engage in which stage of the product development process?
A. Product development
B. Brainstorming
C. Securing financial backing D. Marketing research
5. George wants to create brand awareness for his new line of automotive tools. George needs to
A. conduct market research to determine existing brand loyalty.
B. examine customer segmentation models to assess consumers' positioning attitudes.
C. repeatedly expose his target audience to the various brand elements associated with his product line. D. offer discounts to distributors.
6. Brand extension is a popular marketing strategy because it allows the firm to
A. separate out the cost of brand extension from brand intention. B. discontinue complementary products.
C. avoid the problem of brand dilution.
D. spend less on creating brand awareness and associations.
7. When the management or owners of a service establishment have a different idea than the customers do about the expectations and service standards, the firm most likely has a _______ gap.
A. delivery
B. perspective C. knowledge
D. standards
8. A major limitation in the use of internal R&D departments for new-idea generation is that
A. the departments tend to create too many blockbusters.
B. few scientists have practical ideas.
C. the departments tend to be dissolved once sufficient ideas have been generated. D. the costs tend to be quite high.
9. Colgate-Palmolive's _______ includes Oral Care, Personal Care, Household Care, Fabric Care, and Pet Nutrition product lines.
A. primary packaging parts
B. product personality
C. product assortment
D. perceived generic cobrands
10. The process by which the use of a new product or service spreads throughout a market group is referred to as
A. lead-user dispersion.
B. test-marketing effectiveness. C. new-product introduction.
D. diffusion of innovation.
11. For new-product marketers, early adopters are important because they tend to be
A. opinion leaders.

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