Managing Successful Products, Services, and Brands

Question 1

Stages of the product life cycle

Answer 1

Introduction
Growth
Maturity
Decline

Question 2

Marketing objective in each stage of product life cycle

Answer 2

Intro-inform
Growth-persuade
Maturity-remind

Question 3

Diffusion of Innovation

Answer 3

Innovators
Early Adopters
Early Majority 
Late Majority 
Laggards

Question 4

Innovators

Answer 4

Ventersome
Highly educated
Multiple information sources

Question 5

Early Adopters

Answer 5

Leaders in social setting

Slightly above average education

Question 6

Early Majority

Answer 6

Deliberate buyers

Many informal contacts

Question 7

Late Majority

Answer 7

Skeptical

Below average social status

Question 8

Laggards

Answer 8

Fear of debt

Neighbors and friends are information sources

Question 9

Factors Affecting Speed of Adoption

Answer 9

Compatibility
Trialability
Relative Advantage 
Product Complexity
Perceived Risk

Question 10

Crossing the Chasm

Answer 10

Get from the Innovators and Early Adopters to the rest of the diffusion curve

Question 11

Why brand?

Answer 11

Perception
Loyalty
Connection

Question 12

Brand Equity

Answer 12

What the brand is worth

Question 13

Brand Benefits

Answer 13

Functional
Intellectual
Emotional

Question 14

Branding Strategies

Answer 14

Multiproduct Branding
Multibranding
Private Branding
Mixed Branding

Question 15

Multiproduct Branding

Answer 15

Use brand name for all products in product class
Ex: Huggies

Question 16

Brand personality

Answer 16

human characteristic associated with the brand

Question 17

Multibranding

Answer 17

Each product has different brand name

Ex: P&G

Question 18

Private Branding

Answer 18

Company manufactures products and sells them under brand name of retailer or wholesaler

Question 19

Mixed Branding

Answer 19

Firm markets products under under its own name(s) and that of a reseller because the segment attracted to the reseller is different from its own market

Question 20

Line Extension

Answer 20

Extension within same product class

Question 21

Band Extension

Answer 21

Extension of brand to new product class

Question 22

Sub Branding

Answer 22

Brand of a brand

Question 23

Co Branding

Answer 23

Two brands come together

Question 24

Losing Trademark Protection

Answer 24

Brands go generic