Quiz #7 (Ch. 9 & 13)
Marketers opt for family brand names to distinguish dissimilar products.
False
Which of the following is true of generic products?
They are characterized by plain labels, little or no advertising, and no brand names.
An effective label performs both promotional and informational functions.
T
An undifferentiated marketing strategy is more suited for a firm that markets generic products rather than individual brand names.
T
Brand insistence, the ultimate stage in brand loyalty, leads consumers to refuse alternatives and to search extensively for the desired merchandise.
T
Competition in the market usually forces firms to adopt a differentiated marketing strategy.
T
Firms can reposition their already successful products in order to gain a greater market share.
T
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.
T
Marketers' emphasis on targeting smaller market segments has increased the importance of packaging as a promotional tool.
T
Small manufacturers usually assign a category manager to each major channel such as grocery stores or drugstores, instead of each retail chain.
T
The most powerful of the organizational drivers is/are
story
The most powerful of all the organizational and brand drivers, because it taps into basic human nature, is the _________________________________.
organizational story
A global brand is generally defined as one that sells at least 60 percent outside its home country.
A global brand is generally defined as one that sells at least 30 percent outside its home country.
A(n) _____ describes various activities, interests, and respondent's opinions that allows researchers to develop lifestyle profiles.
AIO
The most useful of the brand drivers, because it provides a decision-making paradigm for an organization is:
Brand Principle?
Jose is an avid runner and is training for his first marathon. He has several different brands of running shoes but his favorites are Asics because they are lightweight and also support his feet. He's going to purchase another pair for his training and decides that from now on, he will only purchase the Asics brand. Which level of brand loyalty is best described by this example?
Brand insistence occurs when consumers refuse alternatives and exclusively search for their desired brand.
Jimmy Buffet is a popular singer, songwriter, entertainer and business owner of Margaritaville Holdings. The company operates restaurants and hotels and also engages in contracted relationships with other companies who use the Margaritaville name on their products. Margaritaville foods are now available in the local grocery store including items such as trail mix and frozen shrimp. Margaritaville is utilizing ________ to expand their exposure in the marketplace.
Brand licensing occurs when firms authorize other companies to use their brand names.
Brand Drivers are made up of:
Brand principle, personality and associations
A firm that focuses its efforts on profitably satisfying a single market segment is opting for _____ strategy.
CONCENTRATED
A geographic area that generates 40 percent to 80 percent of a company's sales is called a(n) _____.
CORE REGION
Which of the following statements is true of category management?
Category managers are oriented toward mass market advertising, not in-store merchandising.??
A brand mark is defined as a part of a brand that can be spoken.
F
As compared to undifferentiated marketing, applying a micromarketing strategy allows companies to reach larger markets.
F
Karen prefers to buy Chemtec's cleaning products over other brands if they are easily available in the market. Karen is in the brand insistence stage of brand loyalty.
F
Makers of generic products are dependent on brand loyalty for their marketing success.
F
Placing a product at a certain point or location within a market in the minds of prospective buyers is known as market mapping.
F
Private labels typically provide better profit margins than captive brands.
F
Product managers have profit responsibility for their product group and help the retailer's category buyer maximize sales for the whole category, not just the particular manufacturer's product.
F
The "brand relevance" dimension of the brand personality refers to a brand's ability to stand apart from its competitors.
F
As compared to undifferentiated marketing, applying a micromarketing strategy allows companies to reach larger markets.
FALSE
Family brands cost more than individual brands to market.
FALSE
Private labels typically provide better profit margins than captive brands.
FALSE
Product managers have profit responsibility for their product group and help the retailer's category buyer maximize sales for the whole category, not just the particular manufacturer's product.
FALSE
The "brand relevance" dimension of the brand personality refers to a brand's ability to stand apart from its competitors.
FALSE
The original objective of product packaging was to increase consumer awareness of the product.
FALSE
The "brand relevance" dimension of the brand personality refers to a brand's ability to stand apart from its competitors.
FALSEEEEEEE
As compared to undifferentiated marketing, applying a micromarketing strategy allows companies to reach larger markets.
False
Dayer's, a popular ice cream brand, added new flavors to its existing line of ice creams to attract kids. This is an example of _____.
Line extension
Which of the following is most likely to be the primary factor that attracts a consumer to a generic product?
Low price
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.
MICRO-
The 80/20 principle is sometimes referred to as _____.
PARETO
The practice of dividing a population into groups having similar attitudes, values, and lifestyles is called _____.
PSYCHO SEGMENTATION
Through your market research, you know that skiers who buy your brand of ski gloves rely on previous experiences with the product before choosing it over alternatives. Your ski glove has reached the _____ stage of brand loyalty.
Preference
Having a clear and compelling shared purpose is important to a brand because:
Purpose is a key to motivating employees
Several leading brands of breakfast cereal have changed the basis on which they try to set their products apart from competition, shifting from taste to healthful ingredients. It would be accurate to describe this change as:
Repositioning
A line extension involves the addition of new sizes, styles, flavors, or related products to an existing group of products.
T
Which of the following best represents a mission statement?
Starbucks: To inspire and nurture the human spirit - one person, one cup and one neighborhood at a time.
"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.
T
A brand is said to have high relevance if a large number of consumers feel the need for the benefits offered by the brand.
T
A brand name should give buyers the correct connotation of the product's image.
T
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.
T
Tide laundry detergent commands an extremely high market share. Purchasers of the product are extremely less sensitive to price changes. Based on this assessment, it can be said that Tide has high brand equity.
T
A(n) _____ is a specific segment of consumers a firm believes is most likely to buy its goods and services.
TARGET MARKET
A national brand defines the image most people form when they think of a brand.
TRUE
Companies that follow category management process define the category based on the target market's needs.
TRUE
Manufacturers' brands are also called national brands.
TRUE
Production of private-label goods helps manufacturers reach additional market segments.
TRUE
Product positioning refers to consumers' perceptions of a product's attributes, uses, quality, and advantages and disadvantages relative to competing brands.
TRUe
Fears of product tampering have forced many firms to improve package designs.
True
The _____ is a numerical bar code system used to record product and price information.
Universal product code
A brand is much more than just a logo. Instead it is a(n) ______________________________________________________________________________________________________.
almagam of everything the brand is, say's, and does.
Visuals, people, and slogans are all an example of _______________________.
brand associations
The term _____ refers to the added value a certain brand name gives to a product in the marketplace.
brand equity
A company's ability to market a product successfully at a higher price compared to its competitors is directly related to its:
brand equity.
_____ is the strategy of attaching a popular brand name to a new product in an unrelated product category.
brand extension
_____ is the ultimate stage in brand loyalty that leads consumers to refuse alternatives and search extensively for the desired merchandise.
brand insistence
A marketer responsible for an individual product or product line is called a(n) _____.
brand manager
A _____ is a symbol or a pictorial design that distinguishes a product from its competitors' offerings.
brand mark
A(n) _____ is a symbol or a pictorial design that distinguishes a product.
brand mark
Organizational Drivers are made up of:
brand mission, values and story
A(n) _____ consists of words or numbers that can be spoken, and identifies and distinguishes a firm's offerings from those of its competitors.
brand name
_____ is the second level of brand loyalty at which buyers rely on previous experiences with the product when choosing it, if available, over competitors' products.
brand preference
Brand Drivers are made up of:
brand principle, personality and associations
_____ refers to loss of sales of an existing product due to competition from a new product in the same line.
cannibaliztion
Liz Lange maternity wear and Shaun White's apparel for boys are sold exclusively at Target. These brands are examples of _____ brands.
captive
A(n) _____ is a national brand sold exclusively by a retail chain.
captive brand
Which of the following products is most likely to achieve the status of brand insistence?
cars
The tagline used by Walmart, "Save money. Live better" is an example of a positioning strategy that is based on _____.
competitors
Kyle plans to buy new tires for a car that his family uses for camping trips. These tires are of the same type like those that are used on General Motors commercial trucks and can be purchased from Industrial Tire Company. The tires that Kyle will buy for his car can be classified as _____ products.
consumer
A person who purchases new products as soon as they are available in the market is called a(n) _____.
consumer innovator
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.
Based on the Young & Rubicam's BrandAsset Valuator model, _____ is a dimension of brand personality that refers to a brand's ability to stand apart from competitors.
differentiation
Marketers applying a positioning strategy want to:
emphasize a product's unique advantages and differentiate it from competitors' options.
A(n) _____ is a single brand name that identifies several related products.
family brand
Dayer's, a popular ice cream brand, added new flavors to its existing line of ice creams to attract kids. This is an example of _____.
line extension
A(n) _____ is characterized by plain labels and no advertising.
generic product
International Business Machines decided to brand its products under its acronym IBM. From a marketing perspective, this was a smart idea because as a brand name, IBM:
is easy to pronounce, recognize, and remember.
According to the Young & Rubicam's BrandAsset Valuator model, the _____ is a dimension of brand personality that refers to the extent of consumer awareness of a brand and the understanding of what a good or service represents.
knowledge
According to the Young & Rubicam's BrandAsset Valuator model, the _____ is a dimension of brand personality that refers to the extent of consumer awareness of a brand and the understanding of what a good or service represents.
knowledgr
A "_____" carries an item's brand name or symbol, the name and address of the manufacturer or distributor, information about the product's composition and size, and recommended uses.
label
A(n) _____ is a branding component that carries an item's brand name or symbol, the name and address of the manufacturer or distributor, information about the product, and recommended uses.
label
The strategy of developing individual offerings to appeal to different market segments while remaining closely related to the existing product line is called _____.
line extension
_____ is the practice of developing individual offerings that appeal to different market segments while remaining closely related to the existing product line.
line extension
The division of the total market into smaller, relatively homogeneous groups is called _____.
market segmentation
Placing a product at a certain point or location within a market in the minds of prospective buyers is known as _____.
positioning
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
The tagline used by Blue Jet cleaners, "Pay for Performance," is an example of a positioning strategy that is based on _____.
price/quality
A(n) _____ is an urbanized county or set of counties with social and economic ties to nearby areas.
primary metropolitan statistical area
A brand offered by a wholesaler or a retailer is called a(n) _____.
private brand
Tiffany enjoys shopping at Aldi because it's a smaller store that stocks the basic necessities in addition to a great selection of gourmet or specialty items. She has 3 kids who eat cereal almost every morning for breakfast and sometimes as a snack. She's found that the "Millville Fruit Rounds" available only at Aldi's are a great value and her kids prefer them to Froot Loops. What type of brand are the "Millville Fruit Rounds"?
private brand
The Kirkland brand is owned by Costco, and the products can only be purchased at Costco stores. Costco contracts with manufacturers to produce and package products under the Kirkland name. Kirkland can be regarded as a(n):
private brand.
The latest ad of Crest toothpaste says "Crest is a cavity fighter." This is an example of a positioning strategy based on:
product application.
There are a number of strategies that you can use to position your company's technology product in the mind of the consumer. You decide to focus your advertising campaign on the perception that your product is what the others aspire to be--the best. Which of the common categories for product positioning are you using to develop your marketing campaign?
product class
A(n) _____ strategy focuses on developing entirely new products for new markets.
product diversification
_____ refers to the responsibility of manufacturers and marketers for injuries and damages caused by their products.
product liability
A positioning map:
shows how consumers view a product relative to competitive products.
A young single person setting up an apartment for the first time is most likely to be a good prospect for:
small home appliances such as coffee makers and toasters.
According to the Young & Rubicam's BrandAsset Valuator model, brand relevance is a dimension of brand personality that refers to:
the real and perceived appropriateness of a brand to a big consumer segment.
The Federal Trademark Dilution Act of 1995 deals with:
the rights of a trademark holder to sue for trademark infringement.
The term _____ refers to the visual components that contribute to the overall look of a brand.
trade dress
A(n) _____ is a brand for which the owner claims exclusive legal protection.
trademark
Once consumers have used a product, seen it advertised, or noticed it in a store, it moves from the unknown to the known category, which increases the probability that they will purchase it.
true
You work in brand management for a manufacturer of beauty products. It is your responsibility to maximize sales of all of your brands for the national retail chains selling them. Your job title is most likely:
Category manager
You work for a drug company and have been asked to advise company executives about the manufacturing of generic versus branded pharmaceuticals. Which of the following arguments could you use if you were trying to convince the executives that branded drugs are the way to go?
Customers sometimes feel more secure about purchasing brand-name drugs.
The brand of petroleum marketed by BP took a hit when the firm was implicated in the 2010 Gulf of Mexico oil spill. On which dimension of brand personality was BP primarily affected?
Esteem
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?Relevance
Relevance
To remain competitive, marketers must accurately gauge their customers and adapt to changing consumer sentiment. Sometimes this adaptation calls for repositioning a product or service. Why might a product or service be repositioned?
The company is aiming for a greater share of the current market.
A memo from your firm's legal counsel reviews the branding elements that can receive trademark protection under United States law. You have just developed a unique shape for the bottle of a new body wash. Can this be trademarked?
Yes, because unique shapes can be trademarked.
Category managers are usually assisted by associates called
analysts
When people see Coca Cola on the shelves of their local supermarkets, they remember fond childhood memories of drinking Coke and fun Christmas commercials with polar bears and Santa Claus. Though other cola beverages may win blind taste tests over Coca Cola, consumers tend to have an emotional relationship with Coke, which gives the product a competitive edge on the market. Which of the following aspects of a product is described here?
brand
Daphne commonly purchases national brands that are sold exclusively by retail chains, and frequently buys these items from Target. What type of brand is Daphne purchasing?
captive brand
Your company is looking to hire someone who will oversee a new product line. This individual will be responsible for ensuring that the products are meeting the needs of consumers and will engage in new product planning and development. Which of the following positions is your company hiring?
category manager
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:
line extension
Which of the following is utilized to help managers position products by graphically illustrating consumers' perceptions of competing products within an industry?
positioning map
There are a number of strategies that you can use to position your company's technology product in the mind of the consumer. You decide to focus your advertising campaign on the perception that your product is what the others aspire to be--the best. Which of the common categories for product positioning are you using to develop your marketing campaign?
product class
Which of the following tasks least describes the role of a brand manager?
protecting the company's trademark and brand