1) Which of the following is an accurate statement about product management? A) It is also known as quality management. B) It is rarely team-based. C) It is a continual process. D) It includes responsibility for the marketing mix tools of product and promotion, but not of price and place. E) It involves more strategic planning than tactical planning. 2) When marketers develop ________ strategies, they make decisions about product benefits, features, styling, branding, labeling, and packaging. A) communication B) product C) equity D) total quality management (TQM) E) Six Sigma 3) Which of the following is NOT necessary for a product-related objective to be effective? A) It should focus on short-term implications. B) It should be measurable. C) It should be feasible. D) It should indicate a specific time frame. E) It should be clear. 4) A ________ is a firm’s total product offering designed to satisfy a group of target customers. A) brand B) product line C) product mix D) positioning strategy E) marketing mix 5) A firm’s ________ is determined by the number of separate items within the same category. A) brand equity B) product mix width C) product line length D) product quality E) product mix 6) Procter & Gamble makes a variety of different cleaners, detergents, and polishes to appeal to a variety of target markets and boost sales potential. Procter & Gamble uses a(n) ________. A) full line strategy B) undifferentiated strategy C) limited-line strategy D) contracting strategy E) marketing mix orientation 7) A firm that plans to use a(n) ________ will add higher priced, higher quality items to its product line. A) upward line stretch B) limited-line strategy C) undifferentiated strategy D) marketing mix contraction E) cannibalization strategy 8) Which of the following is NOT an option for extending a product line? A) cannibalization B) downward line stretch C) upward line stretch D) two-way stretch E) filling-out strategy 9) Whenever a product line or a product family is extended, there is a risk of ________, which occurs when sales of an existing brand decline as the firm’s current customers switch to the new product. A) product line contraction B) disintermediation C) cannibalization D) brand inequity E) a downward line stretch 10) An alternative to a two-way stretch is ________, adding more items within the present range of the line. A) cobranding B) family branding C) a mixing strategy D) a filling-out strategy E) a contracting strategy