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Exam 7: Products and Brands

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Question 31

True/False

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Brand refers only to the name of a product.

A) True
B) False

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Question 32

Multiple Choice

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With respect to price and availability, shopping products are likely to be:

A) relatively inexpensive and widely available.
B) relatively inexpensive but have very limited availability.
C) fairly expensive and available at many selective outlets.
D) very expensive, with very limited availability.

E) C) and D)
F) None of the above

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Question 33

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The craft beer industry in Canada has more than 500 small producers.As such, it is difficult to capture consumers' interest.For this reason _____ is particularly important.

Brand loyal consumers will regularly switch between brands.

A generic brand is owned by a retailer and provides the retailer with the opportunity to offer its customers a less expensive alternative to a manufacturer's brand.

Many consumers look for recognizable products but will readily accept substitutes.These consumers are not

Developing, pricing, promoting, and delivering services is challenging because the quality of a service is often _____.

Fast Airlines operates five flights daily between Calgary and Toronto during the winter.One flight leaves Calgary at 12:10 a.m.The flight has a capacity of 120 passengers.In December, the airline was flying with full capacity.But in January, the flight has averaged only 24 passengers, leaving 96 seats empty.The flight requires at least 60 passengers to break even.Which unique aspect of services does this situation describe?

A warranty, a service contract, delivery options, and installation assistance are examples of augmented product.

A _____ brand has no branding at all and is produced as a cheap alternative to a manufacturer's brand and to a private label branded product.

Visitors to a nail salon may have difficulty distinguishing between the overall look of the salon and their perception of quality of the service they received.This demonstrates

With respect to distribution, shopping products are available:

All Round Utilities Inc.offers airline trips, financial advice, and telephone calls for sale.These products are referred to as the company's _____.

Specialty products are items for which the consumer comparison-shops, assessing the attributes and prices of different products and brands.

Differentiate between product line and product mix.

The range from the tangible to the intangible, or goods-dominant to service-dominant, is referred to as the service continuum.

A retail chain hires a company to design and install a computer network that would allow each store in the chain to check the inventory of the others in the chain for items requested by customers.In this scenario, the retail chain has purchased a(n) _____ good.

Products are typically divided into three main categories.Give examples of each category.

In the case of _____ products, the brand loyalty of consumers is such that they prefer specific brands, but will accept substitutes.

The Ultimate Body Solutions, a manufacturer of body products, uses the brand name Glow and Shine for the body wash, body soap, and body lotion it produces.In this scenario, Glow and Shine is a family brand name.