CHAPTER 12 BUSINESS FUNDAMENTAL

During the product life cycle, when do sales begin to climb and the product begin to show profit?

• Ascending

• Mature

• Initia

• Growth

• Accelerated

During the product life cycle, when do sales begin to slow down even though profit levels are high?

• Decline

• Maturity

• Introduction

• Growth

• Promotion

Which of the following is least likely to increase the life of a product without involving product changes?

• Product extension

• Product adaption

• Rebranding

• New product placement

• Reintroduction

Using symbols and names to communicate the qualities of a product is a function of what?

• Awareness

• Reintroduction

• Product adaptation

• Product extension

• Branding

What is one of the key benefits to successful branding?

• Brand extension

• Brand loyalty

• Preferred product placement

• Ease of licensing

• Ease in adaptation

In additional to social networking and viral marketing, how do firms successfully increase brand awareness?

• Reintroduction

• Globalization

• Rebranding

• Product placement

• Product extensions

Which of the following indicates a firm sold the rights to put their name on a product not produced by them?

• Asset brands

• National brands

• Licensed brands

• Private brands

• Private labels

Which of the following best describes a private label brand?

• A) A retailer uses packaging as a form of advertising.

• A retailer develops a brand name and has a manufacturer put it on a product

• A manufacturer puts its name on an unrelated product for a fee.

• A brand name is used throughout a series of products made by the same manufacturer

• A brand is reintroduced in a new, often global, market

How do customers most benefit from packaging design?

• Increased utility

• In-store advertisements

• Less spoilage

• Reduced risk of damage

• Less theft of the product

A private brand is a brand name developed by a wholesaler or retailer for their product

• true

• false