Quiz 7

Kenmore is a well-known brand of appliances sold exclusively by Sears. Kenmore is best described as a(n) ____ brand. ​Captive ​Manufacturer's ​Equity ​Individual ​Generic

Captive

Which of the following is utilized to help managers position products by graphically illustrating consumers' perceptions of competing products within an industry?​ ​ positioning map ​differentiating map ​separation marketing graph ​repositioning graph

positioning map

A(n) _____ is a tool that helps marketers place products in a market by graphically illustrating consumers' perceptions of competing products within an industry.

positioning map?

The concept of _____ refers to placing a product at a certain point or location within a market in the minds of prospective buyers.

positioning?

A(n) _____ is an urbanized county or set of counties with social and economic ties to nearby areas.

primary metropolitan statistical area?

Visuals, people, and slogans are all examples of: brand associations brand principle brand personality brand extensions

brand associations

The practice of dividing an overall market into homogeneous groups based on the location is called _____.

Demographic Segmentation

A(n) _____ describes various activities, interests, and respondent's opinions that allows researchers to develop lifestyle profiles.

AIO statement?

Which of the following best represents a mission statement? Walmart: Stores big enough to make shopping interesting for every family member U.S. Army: Be all that you can be Kellogg's: Breakfast cereals at a price everyone can afford Bass Pro Shop: To be the leading merchant of outdoor recreational products, inspiring people to love, enjoy, and conserve the great outdoors

Bass Pro Shop

A product that is purchased for use in the production of other goods and services for resale is called a(n) _____.

Business Product?

A product that is purchased for personal use by an ultimate consumer is called a(n) _____.

Consumer Product?

T/F: A product that has attained a monopoly position with its consumers is in the brand preference stage of brand loyalty.

False

T/F: As compared to undifferentiated marketing, applying a micromarketing strategy allows companies to reach larger markets.

False

T/F: Marketers opt for family brand names to distinguish dissimilar products.

False

Dawn, Joy, and Ivory are dish liquid brands manufactured by Procter & Gamble. All these brands can be regarded as _____ brands. private family individual generic

Individual

The division of the total market into smaller, relatively homogeneous groups is called _____.

Market Segmentation?

The 80/20 principle is sometimes referred to as _____.

Pareto's law?

​Cadillac has strategically sought to become known as a prestige brand among 30 to 50 year olds and routinely uses television advertising to showcase the high quality and luxury attributes of the new models. It seeks to use _______ to separate the brand from other US brands and be perceived more similarly to European models such as Audi and BMW. ​positioning ​a concentrated strategy ​segmentation -not- ​an undifferentiated marketing approach

Positioning?

A key element in the success of Google is that the company's search engine is perceived as appropriate to people all over the globe. An enormous number of consumers feel a need for Google's benefits. Based on this information, which dimension of brand personality is best illustrated by Google? ​Differentiation ​Commitment ​Relevance ​Esteem ​Knowledge

Relevance

Which of the following best represents a mission statement? Nike: Just Do IT. Apple: Think Different WWU Registrar: In support of Western's overall mission and educational purpose, the fundamental mission of the Registrar's Office is to foster the success of our students while ensuring the accuracy and integrity of institutional records, policies and procedures. We serve Western's students, faculty, staff and alumni through continuous improvement of all facets of our customer service and business processes. We promote efficiency and innovation through ongoing assessment and by embracing emerging technologies. Starbucks: To inspire and nurture the human spirit - one person, one cup and one neighborhood at a time.

Starbucks

A(n) _____ is a specific segment of consumers a firm believes is most likely to buy its goods and services.

Target Market?

T/F: "For the same dollars that you spend on a no-frills ticket to Los Angeles, fly Business Class with us!" is the advertising statement issued by FlyHigh Airlines. It represents an attempt by FlyHigh Airlines to position itself with respect to its competitors.

True

T/F: A brand is said to have high relevance if a large number of consumers feel the need for the benefits offered by the brand.

True

T/F: A brand name should give buyers the correct connotation of the product's image.

True

T/F: A positioning map provides a valuable tool to help managers position products by graphically illustrating consumers' perceptions of competing products within an industry.

True

T/F: An undifferentiated marketing strategy is more suited for a firm that markets generic products rather than individual brand names.

True

T/F: Brand preference is the stage of brand loyalty at which consumers rely on previous experience with a branded product when choosing it, if available, over competitors' products.

True

T/F: Firms can reposition their already successful products in order to gain a greater market share.

True

T/F: Jack does not buy his shoes from any company other than Unparalleled, a leading shoe manufacturer, because of the comfort they offer and their unique style features. Jack is in the brand insistence stage of brand loyalty.

True

T/F: Kim's Egg Rolls were being promoted as a dinner item but after a few years the company decided to change their packaging and advertising to promote the egg rolls as evening snacks. This is an example of repositioning a product.

True

T/F: National brands sold exclusively by a retail chain are called captive brands.

True

T/F: Product positioning refers to consumers' perceptions of a product's attributes, uses, quality, and advantages and disadvantages relative to competing brands.

True

T/F: The Columbia Sportswear Company decides to produce a line of jackets embroidered with the names of all of the NFL teams. For doing so, Columbia must first obtain an authorization from the teams and/or the league before using the trademarked names. This is an example of brand licensing.

True

T/F: The market shares for generic products increase during economic downturns but subside when the economy improves.

True

_____ is a psychographic segmentation system that divides consumers into eight psychographic categories based on resources and self-motivation.

VALS?

The tagline used by Walmart, "Save money. Live better" is an example of a positioning strategy that is based on attributes competitors quality product users

competitiors

The tagline used by Walmart, "Save money. Live better" is an example of a positioning strategy that is based on _____. attributes quality competitors product users

competitors

A firm that focuses its efforts on profitably satisfying a single market segment is opting for _____ strategy.

concentrated marketing?

The term "product positioning" refers to: consumers' perceptions of a product's attributes, uses, quality, as well as advantages and disadvantages relative to competing brands. the process of developing a trade dress for a new product. a low cost market entry strategy in which two or more firms represent one another's complementary yet non-competing products in the markets. the process of developing entirely new products for new markets.

consumers' perceptions of a product's attributes, uses, quality, as well as advantages and disadvantages relative to competing brands.

A geographic area that generates 40 percent to 80 percent of a company's sales is called a(n) _____.

core region?

_____ defines consumer groups according to variables such as gender, age, income, occupation, and stage in the family lifecycle.

demographic segmentation?

A firm that promotes numerous products with several marketing mixes designed to satisfy smaller target segments is said to practice _____.

differentiated marketing?

_____ are computer systems that assemble, store, manipulate, and display data by their location.

geographic information systems?

The strategy of developing individual offerings to appeal to different market segments while remaining closely related to the existing product line is called _____. brand engagement line engagement line extension brand extension

line extension

_____ is a strategy that focuses on producing a single product and marketing it to all customers.

mass marketing?

_____ is a targeting strategy that targets potential customers at a very basic level, such as by zip code, specific occupation, or lifestyle.

micromarketing?

A young single person setting up an apartment for the first time is most likely to be a good prospect for: luxury cars, personalized gifts and power tools. small home appliances such as coffee makers and toasters. health care products and insurance policies. expensive furnishings.

small home appliances such as coffee makers and toasters

A product is said to have achieved brand preference when: the product has attained monopoly position with its customers. the marketers start selling the product at a discount. the consumer sees or recognizes the product and chooses it over its competitors. the product becomes familiar to the consumer.

the consumer sees or recognizes the product and chooses it over its competitors.

The leaping jaguar symbol, featured on cars of a particular brand, is a part of the brand's: trade token. watermark. trade dress. service mark.

trade dress

Celwyn works for a cosmetics company known for its anti-animal testing policies. Recently, however, a reputable newspaper reported that the company had tested their newest line of blush on rabbits. ​ Which of the following statements is most likely true about the company? ​The company's esteem will increase as a result of the coverage by a reputable newspaper. ​The company will become less differentiated from other cosmetics brands. ​The company's customers will become even more loyal. ​The company's esteem will decrease as a result of this news report. ​The company's relevance will increase as a result of this news report.

​The company's esteem will decrease as a result of this news report.

Which of the following is a benefit of high levels of brand equity as discussed in the textbook?​ ​reduced levels of government regulation ​reduced levels of costs to produce the products ​consumers are willing to pay more for the company's products ​easy access to sources of private equity

​consumers are willing to pay more for the company's products

The Gillette Company is a leader in the market for razors/blades/shaving systems for men and women. Its product development history goes back to the introduction of the first safety razor. Since then, it has regularly led the market in introducing products to meet the needs of its customers. The following list outlines some of its major product introductions:​ safety razortwin-bladed razortwin-bladed disposable razorpivoting-head razorpivoting-head disposable razorrazor designed specifically for womentriple-blade razorbattery-powered razor Gillette's introduction of the twin-bladed disposable razor would be considered which of the following: ​new product ​line extension ​trade dress ​brand licensing ​universal product code (UPC)

​line extension