Marketing management test 2 ch 6-9
Which of the following statements about the branding guidelines for a small business is TRUE? A) A small business must creatively conduct low-cost marketing research. B) A small business must avoid leveraging secondary brand associations. C) A small business must separate the well-integrated brand elements to enhance both brand awareness and brand image. D) A small business must disintegrate the brand elements to maximize the contribution of each of the three main sets of brand equity drivers. E) A small business must focus on building more than two strong brands based on a number of associations.
A) A small business must avoid leveraging secondary brand associations
Apple's iPod Shuffle is an example of ________. A) a sub-brand B) a parent brand C) family brand D) a brand mix E) an umbrella brand
A) A sub-brand
A ________ consists of all products-original as well as line and category extensions-sold under a particular brand. A) brand line B) cobrand C) generic brand D) licensed product E) subbrand
A) Brand line
Realizing that although household products is a huge category-taking up an entire supermarket aisle or more-it is an incredibly boring one, the founders of Method Products designed a sleek, uncluttered dish soap container that also carried functional advantages, such as ease of dispensing soap and cleaning. Method is competing in the crowded market for household products on the basis of superior ________. A) design B) durability C) conformance D) reliability E) performance quality
A) Design
Marketers usually identify niches by ________. A) dividing a segment into subsegments B) conducting VALS tests C) allowing consumers to gravitate toward product brands D) examining the demographics section of the handbook of marketing E) producing products that can be used in a variety of ways
A) Dividing a segment into subsegments
A manufacturer of hiking boots looks at data that indicate that their subsegment of the market called "serious hiker" is declining and is predicted to decline into the future. The firm decides to enter the "low-price" segment with its new items. This is an example of a firm's ________ to reach a new market. A) down-market stretch B) up-market stretch C) two-way stretch D) marketing research E) disintermediation
A) Down-market stretch
________ brands are positioned with respect to competitors' brands so that more important (and more profitable) flagship brands can retain their desired positioning. A) Flanker B) Attacker C) Defender D) Cash cow E) Simulation
A) Flanker
Dennis requests his father to buy him a PlayStation® for his birthday. With respect to consumer decision roles, which role is Dennis currently playing? A) initiator B) influencer C) decider D) buyer E) gatekeeper
A) Initiator
In segmenting its markets, an aluminum company first looked at which end-use market to serve: automobile, residential, or beverage containers. This is an example of ________. A) macrosegmentation B) microsegmentation C) geographic segmentation D) global segmentation E) short-term segmentation
A) Macrosegmentation
Galaxy chocolate has successfully competed with Cadbury by positioning itself as "your partner in chocolate indulgence" and featuring smoother product shapes, more refined taste, and sleeker packaging, which represents which of the following main strategies for growing the core of the business? A) Make the core of the brand as distinctive as possible. B) Drive distribution through both existing and new channels. C) Offer the core product in new formats or versions. D) Increase costs and revenue. E) Expand to another geographic region.
A) Make the core of the brand as distinctive as possible
Purchasers of theatre tickets receive a 20 percent discount if they purchase and pay for the full season at one time. This is an example of what type of product-mix pricing? A) mixed bundling B) pure bundling C) product line pricing D) captive-product pricing E) two-part pricing
A) Mixed bundling
When marketers present flexible market offerings to all members of a business segment, their offerings consist of two parts. Which part contains the product and service elements that all segment members value? A) naked solution B) discretionary solution C) maximum solution D) pseudo solution E) virtual solution
A) Naked solution
According to the BRANDZ model of brand strength, brand building involves people progressing through a sequential series of steps. Which of these steps would address or answer the question "Can this brand deliver?" A) performance B) bonding C) advantage D) relevance E) presence
A) Performance
Philip Morris bought Miller brewing and launched low-calorie beer, at a time when consumers had the impression that low-calorie beer does not taste as good as normal beer. What did the company try to build when they conveyed the fact that the beer contained one third less calories and hence it is less filling? A) points-of-difference B) points-of-conflict C) points-of-parity D) points-of-presence E) points-of-inflection
A) Points-of-difference
________ defense involves occupying the most desirable market space in the minds of the consumers and making the brand almost impregnable. A) Position B) Flank C) Preemptive D) Mobile E) Contraction
A) Position
If Microsoft announces plans for a new-product development, smaller firms may choose to concentrate their development efforts in other directions to avoid head-to-head competition. In this example, Microsoft is employing a ________ defense strategy. A) preemptive B) counteroffensive C) mobile D) flank E) contraction
A) Preemptive
Aromas Inc. introduced a new line of shower gels. To analyze consumer reaction, the company interviewed people who bought them. When Sarah was asked why she had chosen the new shower gel, she said she bought it because a friend recommended it. Sarah is at which level of the BrandDynamics Pyramid? A) presence B) bonding C) relevance D) performance E) advantage
A) Presence
When the Modern Museum of Art separated its consumers by whether they were culture-oriented or outdoor-oriented for its new exhibit on art that used natural materials, they were using ________ segmentation. A) psychographic lifestyle B) personality C) behavioral occasions D) social class E) demographic
A) Psychographic lifestyle
Which of the following methods for new-product development incorporates buyers' preferences in the final design of the product? A) quality function deployment B) market leadership C) cost leadership D) incremental innovation E) disruptive technology
A) Quality function deployment
Volkswagen concentrates on the small-car market and Porsche on the sports car market. These would be examples of what is called ________. A) single-segment concentration B) selective specialization C) product specialization D) market specialization E) full market coverage
A) Single-segment concentration
The brand name of New Zealand vodka 42BELOW refers to both a latitude that runs through New Zealand and the percentage of its alcohol content. From a marketing management perspective, which of the brand equity drivers is most applicable in the given scenario? A) the associations indirectly transferred to the brand by linking it to a place or thing B) the product and all accompanying marketing activities and supporting marketing programs C) the initial choices for the brand elements or identities making up the brand D) the profitability associated with brand development E) the service and all accompanying marketing activities and programs
A) The associations indirectly transferred to the brand by linking it to a place or thing
Which of the following is a defensive criterion for choosing brand elements? A) adaptable B) memorable C) meaningful D) likeable E) significance
A) adaptable
The failure of Cracker Jack cereal is an example of consumers' ________ dictating that the extensions were inappropriate for the brand. A) brand knowledge B) brand equity C) brand stature D) power grid E) brand salience
A) brand knowledge
A brand must demonstrate ________, for it to function as a true point-of-difference. A) clear superiority of an attribute or benefit B) clear profitability to the company C) clear similarity to the attributes of other brands D) technological advances for an attribute or benefit E) exploitation of competitors' weakness
A) clear superiority of an attribute or benefit
Perdue's cogent reason why a target market should buy its chicken is "More tender golden chicken at a moderate premium price," also known as its ________. A) customer-focused value proposition B) competitive frame of reference C) points-of-parity D) straddle positioning E) perceptual map
A) customer-focused value proposition
A marketer is interested in segmenting a business market on ________ if the marketer intends to segment the market based on industries and geographical areas to serve. A) demographic variables B) situational factors C) operating variables D) purchasing approaches E) personal characteristics
A) demographic variables
Christian Louboutin is a footwear designer who launched his line of high-end women's shoes in France in 1991. Since 1992, his designs have incorporated the shiny, red-lacquered soles that have become his signature. These red-lacquered soles and high stilettos of Louboutin distinguish him from other designer shoe brands. In accordance with the BrandAsset® Valuator model, which of the following components of brand equity has Louboutin fulfilled in this scenario? A) energized differentiation B) relevance C) esteem D) knowledge E) advantage
A) energized differentiation
According to BrandAsset® Valuator model, leadership brands show ________. A) high levels of energy, differentiation, relevance, knowledge, and esteem B) higher levels of esteem and knowledge than relevance, whereas both differentiation and energy are lower still C) higher levels of differentiation and energy than relevance, whereas both esteem and knowledge are lower still D) low levels on energy, differentiation, relevance, knowledge, and esteem E) high knowledge-evidence of past performance-a lower level of esteem, and even lower relevance, energy, and differentiation
A) high levels of energy, differentiation, relevance, knowledge, and esteem
The stage in the new product process that occurs first is the ________ stage. A) idea generation B) product development C) test marketing D) product soft launch E) concept testing
A) idea generation
Newlyweds in the United States buy more in the first six months than an established household does in five years. Newlyweds are an example of a(n) ________ segment. A) life stage B) age C) behavior D) user status E) income
A) life stage
The introduction of Diet Coke by the Coca-Cola Company is an example of ________. A) line extension B) brand harmonization C) category extension D) brand dilution E) co-branding
A) line extension
The goal of positioning is to ________. A) locate the brand in the minds of consumers to maximize the potential benefit to the firm B) discover the different needs and groups existing in the marketplace C) target those customers marketers can satisfy in a superior way D) collect information about competitors that will directly influence the firms' strategy E) help the firm anticipate what the actions of its competitors will be
A) locate the brand in the minds of consumers to maximize the potential benefit to the firm
All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion. A) single-segment concentration B) selective specialization C) product specialization D) market specialization E) full market coverage
A) single-segment concentration
Two advantages of ________ are that they can facilitate new-product acceptance and provide positive feedback to the parent brand and company. A) product licensing B) brand extensions C) brand architecture D) brand audits E) brand dilutions
B) Brand extensions
SJC is a new retailer that targets the youth market. SJC needs to make an impression using advertising, and decides to use funny or irreverent ads to get its point across. Each ad features one of SJC's competitors and conveys an advantage SJC has over that competitor. Which of the following is the company using to convey its membership in the retail segment? A) announcing category benefits B) comparing to exemplars C) relying on the product descriptor D) using channel differentiation E) maximizing negatively correlated attributes
B) Comparing to exemplars
General Motors, a leading American multinational automaker, sells cars for every purpose, budget, and personality. This is an example of ________ marketing. A) undifferentiated B) differentiated C) concentrated D) niche E) micro
B) Differentiated
Pepsodent launched a new product that could whiten teeth, fight decay, and maintain fresh breath. Observing that Pepsodent did not focus on the dental sensitivity aspect, Colgate introduced a toothpaste which did all of the above and also protected sensitive teeth. This is an example of a(n) ________ attack. A) frontal B) flank C) guerrilla D) encirclement E) bypass
B) Flank
Epic Inc., a firm that produces chairs for offices, uses comparative advertising to inform consumers that its products offer the same features and quality as the competitor's. This is an example of a(n) ________ attack. A) guerilla B) frontal C) encirclement D) bypass E) flank
B) Frontal
According to the BrandAsset® Valuator model, strong new brands show ________. A) higher levels of esteem and knowledge than relevance, whereas both differentiation and energy are lower still B) higher levels of differentiation and energy than relevance, whereas both esteem and knowledge are lower still C) high knowledge-evidence of past performance-a lower level of esteem, and even lower relevance, energy, and differentiation D) high levels on energy, differentiation, relevance, knowledge, and esteem E) low levels on energy, differentiation, relevance, knowledge, and esteem
B) Higher levels of differentiation and energy than relevance, whereas both esteem and knowledge are lower still
________ branding is a special case of co-branding involving creating brand equity for materials, components, or parts that are necessarily contained within other branded products. A) Cross B) Ingredient C) Equity D) Family E) Generic
B) Ingredient
Which of the following best represents the chief advantage of pursuing a strategy of multiple segment specialization? A) It makes the company almost bulletproof to competitors' actions. B) It diversifies the firm's risk. C) It creates synergy between markets. D) It is a low-cost strategy. E) It treats all buyers the same and, therefore, lowers promotion costs.
B) It diversifies the firms risk
Which of the following is NOT a weakness of a customer equity perspective (relative to a brand equity perspective)? A) It offers limited guidance for go-to-market strategies. B) It has quantifiable measures of financial performance. C) It ignores the advantages of creating a strong brand. D) It overlooks the option value of brands. E) It does not fully account for social network effects or word-of-mouth.
B) It has quantifiable measures of financial performance
An alternative to being a market follower in a large market is to be a leader in a small market. This type of competitor is called a ________. A) marketing king B) market nicher C) segment king D) guerilla marketer E) strategic clone
B) Market nicher
In ________ marketing, the firm ignores segment differences and goes after the whole market with one offer. A) niche B) mass C) guerrilla D) segmented E) differentiated
B) Mass
Adam wants to buy a washing machine and is looking for something that is not too expensive. When he goes to make the purchase, he finds there are two options that meet his requirements. One is a Maytag product, while the other is a newly imported South Korean brand. Adam is not very familiar with the latter and does not hesitate in choosing Maytag. This example implies that ________. A) the imported brand will not survive the competition from Maytag B) Maytag has positive customer-based brand equity C) the South Korean company has a low advertising budget D) the imported brand is unreliable E) the Maytag washing machine has better features than the imported brand
B) Maytag has positive customer-based bran equity
Randall Ringer and Michael Thibodeau see ________ as based on deep metaphors that connect to people's memories, associations, and stories. A) cultural branding B) narrative branding C) brand journalism D) emotional branding E) personal branding
B) Narrative branding
When Starbucks introduced its Tazo Tea line to bring in new customers who had never gone to Starbucks because they don't drink coffee, Starbucks was employing a ________ strategy. A) market-penetration B) new-market segment C) geographical-expansion D) niche identification E) blue-ocean
B) New-market segment
Many sellers offer either general or specific guarantees. Guarantees reduce the buyer's ________ risk. A) actual B) perceived C) real D) implied E) stated
B) Perceived
When Coca-Cola determines the bottled-water competitors for its Dasani brand by identifying the products or sets of products with which a brand competes and which function as close substitutes, it is determining Dasani's ________. A) customer-focused value proposition B) points-of-parity C) points-of-difference D) category membership E) brand mantra
B) Points-of-parity
In his article, "Innovative Imitation," Theodore Levitt argues that ________. A) imitation is wrong and should be punished B) product imitation might be as profitable as product innovation C) innovation is not possible without substantial imitation D) innovation cannot begin unless dissatisfaction with imitation occurs E) imitation should be against the law because of the intellectual property decision involved
B) Product imitation might be as profitable as product innovation
Which of the following methodologies takes the list of desired customer attributes (CAs) generated by market research and turns them into a list of engineering attributes (EAs) that engineers can use? A) quality control processes B) quality function deployment C) rapid prototyping D) marketing control E) control system formation
B) Quality function deployment
A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own. A) hard-core loyals B) split loyals C) shifting loyals D) switchers E) antiloyals
B) Split loyals
Which of the following statements is TRUE about the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment? A) A segment is unattractive if the company's suppliers are unable to raise prices or reduce quantity supplied. B) A segment is unattractive if buyers possess strong or growing bargaining power. C) A segment is attractive when there are actual or potential substitutes for the product. D) A segment is attractive if it already contains numerous, strong, or aggressive competitors. E) The most attractive segment is one in which entry barriers are low and exit barriers are high.
B) a segment is unattractive if buyers possess strong or growing bargaining power
Even if sales of a brand extension are high and meet targets, the revenue may be coming from consumers switching to the extension from existing parent-brand offerings-in effect ________ the parent brand. A) diluting B) cannibalizing C) reinforcing D) eroding E) revamping
B) cannibalizing
If the Ford GT is designed to accelerate to 50 miles per hour within 10 seconds, and every Ford GT coming off the assembly line does this, the model is said to have high ________. A) reliability B) conformance quality C) durability D) compatibility E) interoperability
B) conformance quality
A ________ offering consists of two parts: a naked solution and discretionary options. A) differentiated market B) flexible market C) rigid market D) vertical market E) horizontal market
B) flexible market
Which of the following is the most constructive response a market leader can make when defending its market share? A) maintain basic cost control B) innovate continuously C) provide desired benefits D) meet challengers with a swift response E) provide expected benefits
B) innovative continuously
When the total market expands, the market ________ usually gains the most. A) challenger B) leader C) follower D) nicher E) entrant
B) leader
With respect to powerful brand elements, ________ is an extremely efficient means to build brand equity. This element functions as a useful "hook" to help consumers grasp what the brand is and what makes it special. A) the tangibility of a product B) a product's shape C) a slogan D) a patent E) a copyright
C) A slogan
Pampers divides its market demographically on the basis of ________ into prenatal, new baby, baby, toddler, and preschooler. A) life stage B) gender C) age D) income E) social class
C) Age
Tums claims to have the most acid-reducing components of any antacid. In what way is the brand's category membership being conveyed? A) comparing to exemplars B) relying on the product descriptor C) announcing category benefits D) focusing on reliability E) persuasion based on believability
C) Announcing category benefits
The main advantage of co-branding is that a product may be convincingly positioned by virtue of the ________ involved. A) branding synergy B) increased advertising dollars C) multiple brands D) bundled package E) pure bundling
C) Bundled package
A marketing manager has decided to "leapfrog" the competition by moving into cutting-edge technologies. This indirect approach to attacking competition can be characterized as a(n) ________ attack. A) flank B) encirclement C) bypass D) guerrilla E) frontal
C) Bypass
Nivea became the leader in the skin cream class on the "gentle," "protective," and "caring" platform. The company further moved into classes such as deodorants, shampoos, and cosmetics. Attributes like gentle and caring were of no value unless consumers believed that its deodorant was strong enough, its shampoo would cleanse, and its cosmetics would be colorful enough. This is an example of ________. A) competitive points-of-parity B) competitive points-of-difference C) category points-of-parity D) category points-of-difference E) competitive points-of-presence
C) Category points-of-parity
After creating a product prototype, a company tests it within the firm to see how it performs in different applications. The company refines the prototype to correct the mistakes found in in-house testing. What should be the next step? A) commercializing the product B) performing concept testing C) conducting beta testing with customers D) creating a marketing strategy for the product E) performing business analysis
C) Conducting beta testing with customers
Armordo is a famous vacuum cleaner brand in Africa. Clara has heard of Armordo and she knows that the product is a success. She has started considering whether or not to buy the vacuum cleaner. What stage of the consumer-adoption process is Clara in? A) awareness B) adoption C) evaluation D) trial E) interest
C) Evaluation
Which of the following is a purpose of product mapping? A) studying market matrices B) integrating target markets C) identifying market segments D) educating consumers E) integrating target matrices
C) Identifying market segments
Poga International, a multinational beverage corporation identifies that one of its competitors is launching an apple flavored drink. The company decides to launch an apple flavor brand along with its competitor. What timing strategy is used here? A) first entry B) blunt entry C) parallel entry D) late entry E) exchange entry
C) Parallel entry
A marketer is interested in segmenting a business market on ________ if the marketer's variables are loyalty and attitudes toward risk. A) situational factors B) purchasing approaches C) personal characteristics D) operating variables E) demographic variables
C) Personal characteristics
When companies search for new ways to satisfy customers and distinguish their offering from others, they look at the ________ product, which encompasses all the possible augmentations and transformations of the product. A) consumption B) expected C) potential D) augmented E) basic
C) Potential
With respect to the "six brand building blocks," brand ________ describes the relationship customers have with the brand and the extent to which they feel they're "in sync" with it. A) imagery B) judgment C) resonance D) salience E) performance
C) Resonance
) In the ________ step of the market segmentation process, the marketer evaluates the segment using criteria such as market growth and market access. A) need-based segmentation B) segment identification C) segment attractiveness D) segment profitability E) segment "acid test"
C) Segment attractiveness
A major advantage of a ________ strategy is that if the product fails, the company has not tied its reputation to the product. A) blanket family name B) licensing C) separate family brand name D) category extension E) brand revitalization
C) Separate family brand name
Packaging includes all the activities of designing and producing the container for a product. This includes up to three levels of material: primary package, secondary package, and ________ package. A) retailer B) design C) shipping D) consumer E) supplier
C) Shipping
From a marketing management perspective, there are three main sets of brand equity drivers. Which of these drivers was most applicable when McDonald's decided to use the "golden arches" and Ronald McDonald as symbols of their brand? A) the product and all accompanying marketing activities and supporting marketing programs B) the service and all accompanying marketing activities and programs C) the initial choices for the brand elements or identities making up the brand D) associations indirectly transferred to the brand by linking it to some other entity E) the profitability associated with brand development
C) The initial choices for the brand elements or identities making up the brand
Red Bull enlisted college students as "Red Bull student brand managers" to distribute samples, research drinking trends, design on-campus product promotion activities, and write stories for student newspapers. From a marketing management perspective, which of the following brand equity drivers is most applicable in the given scenario? A) the profitability associated with brand development B) associations indirectly transferred to the brand by linking it to a person C) the product and all accompanying marketing activities and supporting marketing programs D) the initial choices for the brand elements or identities making up the brand E) associations indirectly transferred to the brand by linking it to a place
C) The product and all accompanying marketing activities and supporting marketing programs
Which of the following best describes a car company's value proposition? A) We charge a 20 percent premium on our cars. B) We target safety-conscious upscale families. C) We sell the safest, most durable wagon. D) We are the market leader in the small car category. E) We focus on expanding in faster-growing markets.
C) We sell the safest, most durable wagon
Marketers typically focus on brand ________ in choosing the points-of-parity and points-of-difference that make up their brand positioning. A) equity B) awareness C) benefits D) architecture E) extensions
C) benefits
In ________ marketing, the firm operates in several market segments and designs different products for each segment. A) individual B) undifferentiated C) differentiated D) concentrated E) niche
C) differentiated
WD40 offers a Smart Straw version of its popular multipurpose lubricant with a built-in straw that pops up for use. This is an example of which of the following main strategies for growing the core of the business? A) Make the core of the brand as distinctive as possible. B) Drive distribution through both existing and new channels. C) Offer the core product in new formats or versions. D) Increase costs and revenue. E) Expand to another geographic region.
C) offer the core product in new formats or versions
Which of the following is a marketing advantage of strong brands? A) no vulnerability to marketing crises B) more elastic consumer response to price increases C) guaranteed profits D) additional brand extension opportunities E) more inelastic consumer response to price decreases
D) Additional brand extension opportunities
________ testing is a customer test that involves placing the product within the firm to see how it performs in different applications. A) Beta B) Research C) Sales-wave D) Alpha E) Simulated
D) Alpha
Which of the following questions is answered during the business analysis of ideas? A) Does the product meet a need? B) Do we have a technically and commercially sound product? C) Can we find a cost-effective, affordable marketing strategy? D) Can this product meet sales expectations? E) Can we find a good concept consumers say they would try?
D) Can this product meet sales expectations?
When Coca-Cola determines the bottled-water competitors for its Dasani brand by identifying the products or sets of products with which a brand competes and which function as close substitutes, it is determining Dasani's ________. A) customer-focused value proposition B) points-of-parity C) points-of-difference D) category membership E) brand mantra
D) Category membership
The ________ defines which other brands a brand competes with and therefore which brands should be the focus of competitive analysis. A) consumer profitability analysis B) competitor indexing C) service blueprint D) competitive frame of reference E) cluster analysis
D) Competitive frame of reference
In its focus on bottom-line financial value, the ________ approach offers limited guidance for go-to-market strategies and does not fully account for competitive moves. A) brand equity B) brand value chain C) customer tracking D) customer equity E) brand extension
D) Customer equity
The three criteria that determine whether a brand association can truly function as a point-of-difference are ________. A) comparability, authenticity, deliverability B) desirability, peculiarity, deliverability C) deviance, peculiarity, deformity D) desirability, deliverability, differentiability E) differentiability, authenticity, desirability
D) Desirability, deliverability, differentiability
Brand mantras typically are designed to capture the brand's points-of-________. A) conflict B) parity C) inflection D) difference E) presence
D) Difference
If married and unmarried women respond similarly to a sale on perfume, these hypothetical segments fail the ________ criterion for useful market segments. A) measurable B) substantial C) accessible D) differentiable E) actionable
D) Differentiable
For ________ to be valued for products like vehicles and kitchen appliances, it should not be associated with an excessive price premium and the product must not be subject to rapid technological obsolescence. A) conformance quality B) performance quality C) repairability D) durability E) style
D) Durability
Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and ________. A) natural products B) component materials C) operating supplies D) equipment E) processed materials
D) Equipment
When food product companies advertise recipes that use their branded products in entirely different ways, they are increasing the ________ consumption of the brand. A) amount of B) level of C) dedication to D) frequency of E) awareness
D) Frequency of
Which of the following statements about Gen Xers is TRUE? A) Gen Xers are often willing to change brands. B) Gen Xers are selective, confident, and impatient. C) Gen Xers are socially conscious and concerned about the environment. D) Gen Xers prize self-sufficiency and are pragmatic. E) Technology is a barrier for Gen Xers.
D) Gen Xers prize self-sufficiency and are pragmatic
Most new-product activities are devoted to ________. A) changing the target markets B) developing new-to-the-world products C) introducing backward integration D) improving existing products E) changing the existing market dynamics
D) Improving existing products
Which of the following statements about market segmentation is TRUE? A) It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market. B) It is a process of evaluating each segment's attractiveness and selecting one or more to enter. C) It is a process of creating an image or identity of the product in the minds of the target market. D) It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants. E) It is the quality of how marketers go to market with the goal of optimizing their spending to achieve good results.
D) It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants
A firm that is based in France designs jewelry and takes custom orders from around the world. They design up to 15 pieces of jewelry in a year and ensure that each design uses distinctive stones and is unique. Such nichemanship is an example of ________ specialist role. A) customer-size B) product C) product-feature D) job-shop E) quality-price
D) Job-shop
Some firms might delay the launch of their products until after the competitor has borne the cost of educating the market. Such an entry is called ________ entry. A) strategic pay off B) parallel C) balancing D) late E) compensating
D) Late
Brown & Smith, Inc. engages in the design, development, making, and retail selling of designer jewelry in North America. Before approving a new design, the company draws it on a computer and then produces models to show potential consumers and get their reactions. This allows the company to analyze the possible customer reaction. Identify the concept testing method used here. A) conjoint analysis B) perceptual mapping C) virtual reality testing D) rapid prototyping E) digital fabrication
D) Rapid prototyping
If an organization's marketing department wants to create "segment storyboards" to test the attractiveness of each segment's positioning strategy, it would most likely occur in the ________ step of the segmentation process. A) needs-based segmentation B) segment identification C) segment profitability D) segment "acid test" E) marketing-mix strategy
D) Segment "acid test"
If your assignment was to create a value proposition and product-price positioning strategy for each segment, based on the segment's unique customer needs and characteristics, you would be in which of the following steps of the segmentation process? A) needs-based segmentation B) segment identification C) segment attractiveness D) segment positioning E) segment "acid-test"
D) Segment positioning
During which step of the needs-based segmentation process would the marketer group customers into segments based on similar needs and benefits sought by the customer in solving a particular consumption problem? A) Step 2-segment identification B) Step 3-segment attractiveness C) Step 6-segment "acid test" D) Step 1-needs-based segmentation E) Step 7-marketing-mix strategy
D) Step 1 - needs-based segmentation
Which of the following statements about brand mantras is TRUE? A) They guide only major decisions; they have no influence on mundane decisions. B) Their influence does not extend beyond tactical concerns. C) They must economically communicate what the brand is and avoid communicating what it is not. D) They can provide guidance about what ad campaigns to run and where and how to sell the brand. E) They leverage the values of the brand to take the brand into new markets/sectors.
D) They can provide guidance about what ad campaigns to run and where and how to sell the brand
Mothers-to-be are potential users who will turn into heavy users of infant products and services. By targeting mothers-to-be as future heavy users, producers of these products and services are segmenting consumers on the basis of ________. A) attitude B) buyer-readiness stage C) loyalty status D) user status E) benefits
D) User status
Brand ________ is the job of estimating the total financial worth of the brand. A) tracking B) auditing C) equity D) valuation E) harmonization
D) Valuation
Which of the following best describes BR Chicken's value proposition? A) We sell chicken at most major malls. B) We undertake home delivery services. C) We target quality-conscious consumers of chicken. D) We sell tender golden chicken at a moderate price. E) We charge a 10 percent premium on our chicken.
D) We sell tender golden chicken at a moderate price
AT&T's business campaign not only helped to change public perceptions of the company, it also signaled to employees that AT&T was determined to be a leader in telecommunication services. Which principle of internal branding does this example portray? A) choosing the right moment to capture employees' attention and imagination B) furnishing energizing and informative internal communication C) bringing the brand alive for employees D) linking internal and external marketing E) understanding how brand communities work
D) linking internal and external marketing
) For a segment to meet the ________ criterion of usefulness, the marketer must be able to formulate effective programs for attracting and serving the segments. A) measurable B) substantial C) accessible D) differentiable E) actionable
E) Actionable
In offering a product line, companies normally develop a ________ and modules that can be added to meet different customer requirements. A) convenience item B) flagship product C) staple item D) potential product E) basic platform
E) Basic Platform
A consumer who expresses rational and emotional attachments to a brand to the exclusion of most other brands has reached the ________ level in the BrandDynamics Pyramid. A) advantage B) relevance C) presence D) performance E) bonding
E) Bonding
Gillette uses ________ pricing when it offers razor handles at a low cost, but places a high markup on the replacement razor blades that fit in the handles. A) optional-feature B) two-part C) by-product D) product line E) captive-product
E) Captive-Product
The dimensions in the VALS framework are consumer resources and ________. A) marketer resources B) product innovation C) consumer maturity D) impulsiveness E) consumer motivation
E) Consumer motivation
Which of the following is most closely related with the organic growth of an organization? A) acquiring a product or service brand B) entering new market places C) increasing the operational profitability D) increasing productivity of employees E) developing new products from within
E) Developing new products from within
Joseph, a student of Columbia University, found that many of his classmates had purchased an iPad tablet from Apple. Several months after the product's launch, realizing that the iPad was widely considered to be useful and that many students in the United States had rated it highly, Joseph also decided to purchase an iPad. Which of the following is the adopter group to which Joseph belongs? A) early adopter B) innovator C) late majority D) laggard E) early majority
E) Early majority
When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes, equipment, and clothing to many of them, Nike is using which of the following marketing formats? A) differentiated marketing B) affiliate marketing C) guerrilla marketing D) affinity marketing E) grassroots marketing
E) Grassroots marketing
________ exhibit replacement cycles dictated by physical wear or obsolescence associated with changing style, features, and performance. A) Frequently purchased products B) High-moving goods C) Inexpensive products D) Commodity products E) Infrequently purchased products
E) Infrequently purchased products
Smith & Adams Poultry set up a computer system so that its customers (restaurants and hotels) can directly inform its central supply system about purchase volumes and dates, as well as automatically receive confirmation of orders and shipments. This is an example of a company differentiating its service in terms of ________. A) customer relationships B) customer training C) installation D) delivery ease E) ordering ease
E) Ordering Ease
Jordan's firm enters new markets by tweaking products for new customers, uses variations on a core product to stay one step ahead of the market, and creates interim solutions for industry-wide products. In other words, it pursues ________. A) disruptive technologies B) incremental innovation C) complex innovations D) discontinuous innovations E) radical innovations
E) Radical innovations
With respect to the brand building pyramid, at which of the following "building block levels" would we expect the consumer to develop an intense, active loyalty? A) salience B) imagery C) feelings D) judgments E) resonance
E) Resonance
In the ________ step of the market segmentation process, the marketer determines which demographics, lifestyles, and usage behaviors make each needs-based segment distinct and identifiable. A) segment "acid test" B) segment attractiveness C) segment profitability D) need-based segmentation E) segment identification
E) Segment identification
Guarantees are most effective in two situations. The first is when the company or products are not well known. The second is when the product's quality is ________ to competition. A) not known B) different C) inferior D) equivalent E) superior
E) Superior
The fact that Honda described its boxy Element as a "dorm room on wheels," but then attracted so many baby boomers that the average age of the Element turned out to be 42 illustrates what quality of baby boomers? A) being willing to pay for price for valued offerings B) being turned off by overt marketing practices C) being pragmatic and prizing self-sufficiency D) wanting to purchase online E) wanting to turn back the hands of time
E) Wanting to turn back the hands of time
Happy Home Products produces detergents, toothpaste, bar soap, disposable diapers, and paper products. This company has a product ________ of five lines. A) type B) length C) class D) mix E) width
E) Width
________ are a means of understanding where, how much, and in what ways brand value is being created to facilitate day-to-day decision making. A) Internal marketing campaigns B) Brand portfolio audits C) Brand value chains D) Sales cycles E) Brand-tracking studies
E) brand-tracking studies
A brand ________ can be defined as any information-bearing experience a customer or prospect has with the brand, its product category, or its market. A) value B) personality C) trait D) character E) contact
E) contract
In response to the need to reinforce the brand promise, ________ is about mixing and matching marketing activities to maximize their individual and collective effects. A) personalized marketing B) mass customization C) globalized marketing D) relationship marketing E) integrated marketing
E) integrated marketing
A(n) ________ is an elaborated version of a product idea expressed in consumer terms. A) test brand B) alpha product C) beta product D) business schedule E) product concept
E) product concept