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Marketing 6th Edition by Dhruv Grewal – Test Bank

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  • ISBN-10 ‏ : ‎ 1259709078
  • ISBN-13 ‏ : ‎ 978-1259709074

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Marketing 6th Edition by Dhruv Grewal – Test Bank

Chapter 11
Test Bank

1. A product is anything that is of value to a consumer and can be offered through a voluntary marketing exchange.

TRUE

AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 11-01 Describe the components of a product. Topic: Components and Classifications of Products and Services
Feedback: This is the definition of a product.

2. Effective packaging and labels send consumers the signal “Buy me!”

TRUE

AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 11-01 Describe the components of a product. Topic: Packaging
Feedback: Effective packaging and labeling can grab the consumer’s attention and encourage the consumer to buy.

3. A company’s product line consists of its various product mixes.

FALSE

AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Learning Objective: 11-03 Explain the difference between a product mix’s breadth and a product line’s depth. Topic: Product Line
Feedback: The product mix typically consists of various product lines, which are groups of associated items that consumers tend to use together or think of as part of a group of similar products or services.

4. Brands enable customers to quickly differentiate one firm or product from another.

TRUE

AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 11-04 Identify the advantages that brands provide firms and consumers. Topic: Branding Strategy
Feedback: As consumers become familiar with brands, they can more quickly differentiate between various offerings.

5. Brand equity is calculated by subtracting sales of generic brands from the sales of branded items in a category. FALSE

AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 11-05 Explain the various components of brand equity. Topic: Brand Equity
Feedback: Brand equity is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.

6. The more familiar customers are with a brand, the harder their decision-making process will be.

FALSE

AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 11-05 Explain the various components of brand equity. Topic: Branding Strategy
Feedback: Familiarity with a brand makes the decision making easier, not harder.

7. Harold is a loyal Coca-Cola customer. Loyal customers like Harold require lower marketing expenditures, benefiting businesses like Coca-Cola.

TRUE

AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 11-05 Explain the various components of brand equity. Topic: Branding Strategy
Feedback: The costs of reaching loyal customers are lower, and their positive word of mouth reaches potential customers and reinforces the perceived value of current customers, all at no cost to the firm.

8. Private-label brands are imitations often sold by street vendors.

FALSE

AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 11-06 Determine the various types of branding strategies used by firms. Topic: Branding Strategy
Feedback: Private-label brands are developed and marketed by a retailer and available only from that retailer. They are also referred to as store brands.

9. For a company like Pepsi-Cola, brand dilution occurs when it sells more product than the competition.

FALSE

AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 11-07 Distinguish between brand extension and line extension. Topic: Branding Strategy
Feedback: Brand dilution occurs when the brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold.

10. In entertainment licensing, the major risk to licensees is that the brand will become overexposed.

FALSE

AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 11-07 Distinguish between brand extension and line extension. Topic: Branding Strategy

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