Module 9

Co-branding occurs when:

"B" and "C" are each correct.*

A mass-marketing (undifferentiated) targeting strategy is most likely to work effectively when:

*All of the above are true.

Purchases for ____________are unplanned. Decisions to buy the product type and brand are made on the spur of the moment as consumers are ostensibly shopping for other products.

*Impulse good purchases

A product or brand ____________ is the mental representation of that product or brand in consumers' minds.

*Position

5) __________ entail(s) the application of specialized proficiencies via the execution of actions and processes for purposes of benefitting other entities (usually customers)

*Services delivery

_____________ are those for which consumers compare alternative brands against one another or compare the same brands across multiple retail settings prior to making a purchase decision.

*Shopping

What statement best describes general quality of products made in the U.S. today?

*The delivery of high quality now is viewed as a necessary condition to effectively compete.

Which of the following statements do not characterize services?

*Their quality.

Brand equity can also accurately be described as:

A, B, C are all true*

Which of following statements is false?

A, B, C are in fact all true*

Which answer is correct? Positive brand equity can:

A, B, and C are each correct *

Which of the following items are not associated with brand names:

All the following are associated with brand names.*

Convenience goods are:

C and D are each correct.*

Which statement best describes the true nature of "consumer goods?"

Consumer goods are purchased and used by end-use consumers in order to solve or satisfy their own problems-wants-needs; or to solve or satisfy some other consumers' needs-wants-problems.*

Consumers typically buy ______________ goods based on variety seeking, impulse, and inertia behaviors.

Convenience

Most products feature three levels. The "level of product" that most closely represents the basic benefits provided by the product is called the:

Core product *

The concept known as ________ implies that the market demand for industrial/business/governmental goods is directly or indirectly derived from the demand for consumer goods.

Derived demand *

Marketers can establish brand personality and then use those brand's personalities for purposes of:

Differentiating *

Convenience goods are most closely associated with which type of distribution strategy?

Extensive

18) A good or a product is one that has intangible attributes that customers' can perceive through their five senses.

False

A good or a product is one that has intangible attributes that customers' can perceive through their five senses.

False

The marketing of positioning goods often inverts (turns upside down) traditional pricing laws; meaning that higher brand prices often actually increase demand for the branded item.

False

As illustrated in your book, how many stages make up the product life cycle concept?

Four

Many consumers continually rebuy the same brand but have little or no emotional commitment to the brand. This behavior represents purchasing due to _______.

Inertia

When consumers become brand loyal they are:

Less likely to engage in information search. *

Which statement is least accurate? In contrast to products, services are:

Less variable in quality.*

Great brands usually tell great stories - or narratives. The rule of successful storytelling is:

Make hearers, readers, or viewers care *

Based on presumed characteristics that should be associated with a good brand name, is "Duncan Hines" a good name for cake mixes?

No, because the name suggests nothing about the product *

A product or brand ____________ is the mental representation of that product or brand in consumers' minds.

Position *

Anything that can be offered to individuals, market segments or entire markets for customers' attention, acquisition, use or consumption that might also satisfy their (i.e., individuals', segments', or markets') wants/needs - or solve their problems is best described as a:

Product

Intangible product are also known as:

Services

The development and delivery of ---------- involves applying specialized competencies and performing deeds and processes for purposes of benefiting others that also profit the marketer. Benefitting others generally means customers' problems are solved; i.e., their needs are satisfied. There is one absolutely best answer, because this statement always defines this specific word.

Services

When consumers are deliberating whether to purchase ------------- they expend considerable effort in an attempt to make the best possible choice. Substantial brand versus brand comparison is likely. ---------------- are purchased infrequently.

Shopping goods

The personality of the Hallmark Greeting Card brand; i.e., Hallmark's brand personality, is best described as:

Sincere

Think about the 5th category in our consumer goods classification, the one called "positional" products. Did the natural human desire to acquire and display positional products in order to elevate their social status:

Speak poorly (in an unflattering fashion) about human nature. *

When consumers decide to purchase ------------- they generally don't expend much effort or engage in much brand comparison. Customers have already decided which brand inside the product category is special to them; no need exists to further shop around.

Specialty goods *

Candice insists on buying only Revlon cosmetics. Rather than purchasing other brands when Revlon is not available, Candice will postpone her purchase or drive substantial distances to find her preferred brand. To Candice, Revlon is what marketers refer to as a (select the best answer):

Specialty product. *

----------- describes the appearance of products, down to their Websites, packaging or the colors that accompany or complement their brands products. In fact, everything that directly or indirectly communicates anything about branded relates to those brands' -------

Style

The symbols marketers use to differentiate their brands matter greatly because:

Symbols can say in an instance what words cannot *

Brand equity refers to:

The extent to which customers are willing to pay more for a product or service. *

The classification scheme for consumer products presented in class divides consumer goods into three basic categories; convenience, shopping or specialty, in part based upon:

The level of effort expended during the purchase process.*

As compared to products, services are intangible, inseparable (from their point of production and producer); perishable; and variable, (in terms of their quality).

True

Brand equity and brand loyalty, when present, generally allow marketers to raise prices without losing much if any market share.

True

Brands, are not just symbols, they are also psychological constructs:

True

Brands, regardless of their dominant form (colors, designs, signs, names), exist as symbols

True

The terms luxury brands and positional goods are often synonymous.

True

The best designs that those that are conceived and built to be as simple as possible, easy of the eyes as well as easy to use.

Truew

------------- are products/brands that few to no customers typically seek-out. The implication: some marketer truly must truly sell them. Life insurance, gym memberships, burial plots ... these sorts of products illustrate the point.

Unsought goods *

Supposedly, two great truths prevail inside marketing. First, the most precious resource in today's noisy, crowded markets is customers' attention. Second, consumers don't just seek utility (usefulness, or pure problem-solving ability) from products they buy; consumers often also seek meaning. Are both these statements actually true?

yes