Product Concepts
What is a tangible physical entity?
a good
What is an intangible result of the application of human and mechanical efforts to people or objects?
a service
What is a customer’s favorable attitude toward a specific brand?
brand loyalty
Packaging should prevent damage that could affect the product’s usefulness, which leads to (higher/lower) costs.
higher
Labeling can be an important part of a _____________________
marketing strategy
Consumers buy products to satisfy their personal wants, whereas business buyers seek to satisfy the ______ of their organizations.
goals
What are skeptics who adopt new products when they feel it is necessary?
late majority
Which of the following is the strongest and most desired by marketers?
a. Brand equity
b. Brand preference
c. Brand recognition
d. Brand loyalty
e. Brand insistence
Brand insistence
When a product's packaging can be reused for an additional purpose, this is best described as
secondary-use packaging
Labeling is very closely related with ___________ and is used for identification, promotional, informational, and legal purposes.
packaging
What are products purchased to solve a sudden problem, products of which customers are unaware, and products that people do not necessarily think of buying?
Unsought products
In the case that a preferred brand is not available, which consumer product type will a shopper be most likely to choose a substitute brand?
convenience
Which of the following companies are most likely to use individual branding?
a.McDonald's b.Ford Motor c.Procter & Gamble d.Campbell's Soup Company e.Apple Inc.
Procter & Gamble
ACME Corp. has decided that all of its products' packages should be similar. This is an example of what?
family packaging
Any product making a nutritional claim must have what?
standardized nutrition labeling
There are 5 stages of the product adoption process. Consumers enter the ________ stage when they become motivated to learn about the product’s features, uses, advantages, disadvantages, price, or location.
interest
Cummins has multiple product lines that it categorizes into engines, power generation, fuel systems, turbo technologies, filtration, and emissions solutions. This would be an example of which of the following?
Width of product mix
What is used by retailers or wholesalers to develop more efficient promotion, generate higher gross margins, and change store image?
Private distributor brands
Which color is associated with cheerfulness, optimism, and friendliness.
yellow
Who. requires that “all or virtually all” of a product’s components be made in the United States if the label says “Made in USA.”
Federal Trade Commision
What are all 4 stages of the product life cycle?
Introduction stage, growth stage, maturity stage, and decline stage.
Business products can be classified into seven categories according to their characteristics and intended uses. Name 4.
installations, accessory equipment, raw materials, component parts, process materials, MRO supplies, and business services.
What are all three categories of brands?
manufacturer, private distributor, and generic
Most wine comes in similarly shaped bottles. However, Stack Wine offers its wine in four-pack cups. While a traditional winemaker is likely to adopt _______ packaging, Stack Wine has adopted _______ packaging.
category-consistent; innovative
Name 4 things a label may include.
Possible answers include: brand name and mark, the registered trademark symbol, package size and content, product features, nutritional information, presence of potential allergens, type and style of the product, number of servings, care instructions, directions for use and safety precautions, the name and address of the manufacturer, expiration dates, seals of approval, and other facts.