Product Line Management and Branding Concepts
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Questions and Answers

Which criterion is used for classifying products based on whether they are consumed in one or few uses or can survive many uses?

  • Durability & Tangibility (correct)
  • Consumer Shopping Habits
  • Use in Industry
  • None of the above

    • Which of the following is an example of a Durable Good?

  • Salt
  • Coke
  • Refrigerator (correct)
  • Soap

    • A service provided by one party to another that is essentially intangible in nature and usually manufactured and consumed simultaneously is known as:

  • Consumer Shopping Habit
  • Durable Good
  • Service (correct)
  • Non-Durable Good

    • What criterion is used for classifying products based on how they are used by consumers in their shopping habits?

    <p>Consumer Shopping Habits</p> Signup and view all the answers

    Which type of goods are Tangible goods that are consumed in one or few uses, like Soap and Salt?

    <p>Non-Durable Goods</p> Signup and view all the answers

    What does the market value of a brand indicate?

    <p>The overall brand equity the brand commands</p> Signup and view all the answers

    According to Booz, Allen and Hamilton, what are the two principal dimensions to consider while classifying new product development?

    <p>Newness for the company and newness for the market</p> Signup and view all the answers

    What are 'New to the world products' also known as according to Manjari Lal?

    <p>Discontinuous innovations</p> Signup and view all the answers

    In which category of new product development would an 'Imitative product' fall according to Manjari Lal?

    <p>New to organization but not new to market</p> Signup and view all the answers

    What does the capacity of a brand to shoulder the growth and prosperity of the firm convert it into, as per the text?

    <p>Brand equity</p> Signup and view all the answers

    What are the two broad groups into which new product development can be classified as per Booz, Allen and Hamilton?

    <p>Technological innovations and Marketing-oriented modifications</p> Signup and view all the answers

    If the length of Refrigerator is 8, TV is 10, AC is 6, and Washing machine is 5, what is the total length of the product mix?

    <p>29</p> Signup and view all the answers

    What is the width of the product mix for LG Consumer Appliances as mentioned in the text?

    <p>4</p> Signup and view all the answers

    In the example given for HUL Detergents, what is the depth of the product mix if Surf is 500gms, Wheel is 1 Kg, Colgate toothpaste is 500 gms, and Lux Cleen soap is 300 gms?

    <p>39</p> Signup and view all the answers

    How many types (Type 1, Type 2, etc.) of refrigerators are mentioned in the text?

    <p>8</p> Signup and view all the answers

    If Sunlight detergent comes in 1 kg and 2 kg variants, Lux Cleen soap comes in 300 gms and 150 gms variants, and Softy soap comes in 250 gms and 100 gms variants, how many total product variants are mentioned?

    <p>7</p> Signup and view all the answers

    Based on the example provided for HUL Detergents, if Close-Up toothpaste comes in 100 gms and Meswak comes in 200 gms variants, which toothpaste has a larger depth contribution to the product mix?

    <p>Meswak 200 gms</p> Signup and view all the answers

    What are some sources of generating ideas in the New Product Development Process?

    <p>Interacting with Customers, Interacting with Employees, Interacting with Outsiders, Studying Competitors, Experts &amp; consultants</p> Signup and view all the answers

    What are the five classifications of New Product Development by Booz, Allen and Hamilton?

    <p>New to the world products, New Product Lines, Additions to Existing Product Lines, Improvements &amp; Revisions of Existing Products, Repositioning, Cost Reductions</p> Signup and view all the answers

    What is the purpose of conducting Concept Testing in New Product Development?

    <p>To get feedback from target consumers on the product concept</p> Signup and view all the answers

    Why should each idea be reviewed against a set of criteria in Idea screening during New Product Development?

    <p>To ensure that the new product meets a need and offers superior value</p> Signup and view all the answers

    What is one of the techniques mentioned by Manjari Lal for adopting creativity in New Product Development?

    <p>Attribute listing</p> Signup and view all the answers

    Which step involves defining the product idea and its positioning in New Product Development?

    <p>Concept Development</p> Signup and view all the answers

    What is the purpose of branding according to the text?

    <p>All of the above</p> Signup and view all the answers

    What are the types of brands mentioned in the text?

    <p>Individual brand, Family brand, Company name or brand name</p> Signup and view all the answers

    What is the definition of Brand Equity in the context provided?

    <p>The set of assets linked to a brand’s name and symbol affecting its value to a firm and customers</p> Signup and view all the answers

    What are the key components that contribute to Brand Equity?

    <p>Customer knowledge about the brand, Customer preference for the brand, Financial performance of the firm</p> Signup and view all the answers

    What is NOT a part of branding decisions as mentioned in the text?

    <p>Multi-sponsor</p> Signup and view all the answers

    What does 'Line pruning' refer to in product/ product line appraisals?

    <p>Removing certain products from a product line that are not performing well</p> Signup and view all the answers

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