As the marketing manager for your firm, you have been approached by your key component manufacturer suggesting that your two firms "ingredient brand" a new item. What are some of the requirements for succeeding in ingredient branding?
What will be an ideal response?
First, the consumer must perceive that the ingredient matters to the performance and success of the product. Secondly, consumers must be convinced that not all ingredient brands are the same and that the ingredient is superior. Third, a distinctive symbol or logo must clearly signal to consumers that the host product contains the ingredient. Fourth, a coordinated "pull" and "push" program must help consumers understand the importance and advantages of the branded ingredient.
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In developing performance measures, management must consider which of the following?
a. How should we measure? b. How can managers monitor financial performance? c. What should we measure? d. All of these choices
Consumers always utilize all the steps in the decision process
Indicate whether the statement is true or false
The Food and Drug Administration is empowered to ________
A) recall unsafe toys, appliances, and other consumer products which are harmful to users B) regulate the safety of meat, poultry, and other food products C) prosecute violators directly by imposing fines and pronouncing sentences D) obtain orders for the seizure, recall, and condemnation of harmful products
NestleWhen consumers think of Nestle, they probably think of chocolate. Historically, though, Nestle's confectionary business is its weakest area. Based in Switzerland, it is the world's largest food company, with a brand arsenal of Nescafe, Jenny Craig, Perrier, Purina, and PowerBar, just to name a few of its 30 product lines. Nestle is hoping to become the "world's leading health, nutrition, and wellness firm" by spending billions of dollars on research and development of functional foods--foods that have pharmaceutical-like capabilities to enhance energy and heart, bone, gut, and other health. Nestle wants consumers to see chocolate as a pharmaceutical product rather than just a treat. Part of this new focus includes streamlining their product mix by selling underperforming
items or lines that do not fit its new direction. Critics claim this new focus could hurt the company's existing brands if the new products fail. Additionally, it may be an uphill battle convincing consumers that a company known for indulgence is now a wellness company.Refer to Nestle. Some of Nestle's products include bottled water, candy, and coffee, which would be classified as what type of consumer products? A. heterogeneous shopping products B. homogeneous shopping products C. convenience products D. specialty products E. unsought products