Chapter 11 |Managing Successful Products & Brands

Question 1

Managing Products over their life cycles (name 4 points)

Answer 1

1. Market introduction
2. Market Growth
3. Market Maturity
4. Sales Decline

Question 2

Stage of the Product Life Cycle | PRICE

Answer 2

Price -
1. skimming
2. gain market share
3. defend market share
4. stay profitable

Question 3

Charting the Product Life Cycle: Introduction Stage

Answer 3

Product Life Cycle:
-stimulate primary demand
-skimming strategy
-penetration pricing

Question 4

Branding and Brand Management include

Answer 4

-Brand Name (Logotype)
-Trade Name
-Trademark (Product Counterfeiting)
-Brand Personality
-Brand Equity

Question 5

Packaging & Labeling Products - Creating Customer Value & Competitive Advantage

Answer 5

-Packaging
-Label
-Communication Benefits
-Functional Benefits
-Perceptual Benefits

Question 6

Packaging:

Answer 6

refers to any container in which it is offered for sale and on which label information is conveyed

Question 7

Label:

Answer 7

an integral part of the package that typically identifies the product or brand, who made it, where it was made, how it is to be used, and package contents and ingredients.

Question 8

Branding & Brand Management

Answer 8

-Warranty:
*express warranties (written statements of liabilities)
*limited coverage warranties
*full warranties
*implied warranties (assign responsibility for product deficiencies to the manufacturer)