480 Exam 2
Category Extension
A company can use its brand to expand into new product types. This is known as?
A stop-to-market mistake happens when _______.
A good idea is prematurely eliminated during the screening process.
Psychographic Segmentation
A marketing manager using VALS is interested in _____?
Brand Identity
A summary of unique qualities attributed to the brand.
Brand
A(n) _____ is defined by the American Marketing Association as "a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or groups of sellers and to differentiate them from those of competitors."
Customer Interaction
According to our text _____ is the third element in the process cycle for CRM.
Knowledge Discovery
According to our text ______ is the first phase in the process cycle for CRM.
Baby Boomer Generation
Among the generations used for segmentation, one stand out as the largest and most affluent of all generations. This generation is known as?
Failure to protect the brand
An unknown company illicit used the brand name of Kings, a well-known chocolate manufacturer, in order to increase sales of its products. However, since customers unknowingly purchased those chalked and were dissatisfied with the quality, Kings experienced a sharp decrease in sales. Which of the following limitation of branding does this example illustrate?
Psychographic Segmentation
Another approach to segmenting consumer markets is through ____ which relies on consumer variables such as personality and AIOs (activities, interests, and opines) to segment a market.
Speciality goods hold unique place in the hierarchy of product classifications in that they _______.
Are sought out by customers who are willing to search to find this particular kind of product.
Income
As a segmentation variable, occupation is very closely related to _______, although the two are not perfectly correlated.
The primary marketing objective in the introductory stage of the PLC is to build ______.
Awareness leading to trial purchase
Offering an effective and efficient methodology for categorizing products
Because Sony has so many different product offerings in various types of electronics, management has found that it is helpful to use brand to keep track of products in each type. Thus, it has different brand names for its televisions, DVD players, and portable music players. Which of the following brand roles does this example illustrate?
Perceived Quality
Because of its reputation for excellent favor and increasing energy, NRG Beverages is able to change a price premium for its products. Which of the following dimensions of brand equity does this example illustrate?
Perceived Quality
Because of its reputation for excellent labor and increasing energy, Cougar brand snack bars is able to charge price premium for its products. Which of the following dimensions of brand equity does this example illustrate?
Which of the following reflects a customer brand role?
Brand convey information about a product.
Which of the following reflects a company's brand role?
Brands offer an effective and efficient methodology for categorizing products.
Durable products refer to products with longer product life and are often more expensive. Durable products can be described as _______.
- Washers/ dryers and televisions - Machine presses - IT networks and office furniture - Ovens
CRM is a ______
- software systems - business strategy - maximizes profitability through serving best customers - customer-centric
In marketing, differentiation is a concept that means ______?
Communicating and delivering value in different ways to different customer groups.
Undifferentiated Target Marketing
Companies sometimes pick on large, generic market to target. This marketing approach is called?
Actual or Differentiated Product
Companies translate the essential benefit into physical, tangible elements known as the ______
The speed at which products within a category move through the PLC is _______.
Consistent
Innovators and early adopters
Consumers who buy at the introduction stage of the product life cycle
Perceived Quality
Dans Pasta has developed a strong brand name in the dry pasta marketplace based on its texture and taste. Through its strong band, Dans Pasta was able to introduce successful line of sauces under the same brand name. Which of the following dimensions of brand equity does this example illustrate?
Category
Dell used its brand to expand into new areas including printers and consumer electronics as LCD and plasma televisions. Dell engaged in a ______ extension.
Differentiated target marketing means?
Developing different value offering for different target markets.
Perceived Quality
Even though a national brand pain reliever and a store brand pain reliever both contain the same amount of ibuprofen per capsule and are both gel coated, Joan chooses to purchase the national brand because she thinks it millwork better. Which dimension of brand equity does this example illustrate?
Educational Segmentation
Everything else being equal, _______ might lead a firm to offer its products based on some anticipated future payoff from the consumer.
A go-to-market mistake is made when a company ______.
Fails to stop bad product idea from moving forward into product development
Perceived Quality
Fred bought a bicycle form a well-known brand without even considering the other equally good, unbranded bicycles. This shows the advantage that branded products have over unbranded ones in terms of.
Customer lifetime value
Garret is moving into retirement and wants to cut his client base in half so he can work part time. In deciding which customer to keep, Garret should look at the monetary prediction called __________.
Growth
Generally speaking, the most dramatic increase in revenue occurs in the _____ stage of the PLC.
An example of a "core" or "essential" product for a plane ticket is _____.
Get a person from one place to another
Brand Loyalty
Gino always purchases clothing made by S&G Clothing. He tells others about how much he likes the clothes. Which dimension of brand equity does Gino demonstrate?
The beginning of the maturity stage of the PLC is characterized as having _______.
Growth but at a rate lower than the growth stage
The first phase of the maturity stage of the PLC is characterized as having ________.
Growth but at a rate lower than the growth stage
New-to-the-world products are products that _______.
Have not been available before their introduction to the market
Under Positioning
HerboCare, a company that sells herbal soaps, has failed to increase its sales, as the consumer could not understand how soaps made by HerboCare were different or better than other herbal soaps available in the market. In this scenario, HerboCare is suffering from the positioning error of ________.
Location of the segment
In analyzing the attractiveness of market segments, which of the following is NOT one of the most important variables?
Doubtful Positioning
In the context of position errors, when the claims made for the product or brand are not regarded as credible by consumers, it is called?
Under Positioning
In the context of positioning errors, when consumers have only a vague idea about the company and its products, and do not perceive any really differentiations is called?
Many times customers provide ideas to salespeople, customer service representatives, and other direct customer contact people in the firm. These type of inside people and customers generally good at germinating ideas that are ________.
Incremental changes to existing products
Brand Loyalty
Intel makes products most people never see; however a great deal of money building its brand and now people ask for "Intel Inside." This is an example of linking the benefit of _______ to marketing strategy.
Line
International Delight coffee creamers frequently adds new favors to its product offerings. This would be an example of a ______ extension.
Which of the following is true of bran identity?
It is a summary of unique qualities attributes to the brand.
Demographic segmentation is one of the most popular segmentation approaches because_______.
It is relatively easy to measure the variables used in this approach to segmentation
Stand-alone Branding
Ivory Soap, the market leader in bar soap, sells its products around the country under the same brand. This is an example of?
House of Brand or Stand-Alone Branding
Lever Brothers, a worldwide leader in consumer products, follows a brand strategy in its personal care division with nine brands (AXE, Dove, Lifebuoy, Lux, Ponds, Rexona, Sunsilk, Signal, and Vaseline) that operate independently of one another. This is an example of?
Age is a commonly used method of segmentation. Age alone, however, mat be dangerous because _______.
Lumping older customer into one group is an approach that fails to consider the vast differenced in other important variables.
Incremental changes to existing products
Many times customers provide ideas to salespeople, customer service representatives, and other direct customer contact people in the firm. These type of inside people and customers generally good at generating ideas that are ______.
Communication
Mrs. Butterwort's syrup comes in a bottle shapes like a woman. The intent of this type of packaging is to transfer critical brand messages quickly through design cues since many competitor syrup brands come in teardrop-shaped bottles. The unique shape of the Mrs. Butterworth's bottle fulfills which objective of packaging?
Product Differentiation
Occurs when two competing goods are seen as varying on any physical or nonpyshcial characteristic, including price.
Licensing
Offering other manufactures the right to use the brand in exchange for a set fee or percentage of sales is known as?
Positioning
Once market segments have been identified and analyzed and target markets have been selected for development, the firm must turn its attention to creating, communicating, deliver, and exchanging offerings that have value to the target markets. This process i known as?
Overexposure
Pierre Cardin partnered with several other product manufactures and attached its name to a wide assortment of products including clothing, housewares, and even cosmetics. Eventually, its brand image became diluted and lost its influence as a luxury manufacture. Which of the following disadvantages of co-branding does this example illustrate?
Focus Groups
Positioning strategy is a process that often starts with ______ in order to identify key (determinant) attributes.
Connivence Goods
Products that consumers purchase that are relatively low-cost, purchased frequently and lacking some amount of interest by the customer are called?
Approaches to geographic segmentation include all except _______.
Sensitivity of population
Concentrated target marketing is often used by _______.
Start-up firms to enter a market as a focus player
Store Branding
Super-Mart decides to create its own brand of personal care products. It enters into an agreement with a large manufacture of this type of product to supple Super-Mart with the products that will carry its newly formed brand's name. This is an example of?
Bringing multiple companies together to forma new branded product
The Symbian operating system came about from the co-branding effort of Nokia, Ericsson, Sony, Panasonic, Siemens, and Samsung. They license Symbian to a number of wireless manufactures including LG and Fujitsu. Which of the following types of co-branding relationships does this exemplify?
Perceptual Map
The data generated from positioning analysis can bemused to develop a useful visual tool called a ______, which displays paired attributes to compare consumer perceptions of each competitor's delivery against those attributes.
Customer loyalty is defined as ______.
The degree to which an individual will resist switching from one offering to another.
Segments
The difference in buyers according to how they use products, the needs and references that the products satisfy, and their consumption patterns create market _______.
Two-Thirds
The early and late majority make up ______ of all adopters of a product.
Successful marketing strategy builds quality into _______.
The entire customer experience
Awareness leading to trial purchase
The essential marketing objective in the introductory stage of the PLC is to build ________.
Customer satisfaction is defined as _______.
The level of liking an individual harbors for an offering
Customer satisfaction is defined as _______.
The level of liking and individual has for an offering
Profitability through customer focus
The main focus of CRM is on _____?
Umbrella or Family Branding
The marketing manager for Panther Spirits has decided that all the products his company produced would carry the same brand name of Nightlife. As a result, there is Nightlife Ale, Nightlife Lager, Nightlife Vodka, Nightlife Tequila, and Nightlife Whisky. This is an example of?
Brand Awareness
The most basic form of brand equity
Helping reassure the customer in the purchase decision
The owner of Santos lawn Service is looking to buy a new lawn tractor, a major purchases and significant financial investment. the owner decides to purchase a Dixie Chopper because of its reputation for dependability and excellent customer service. He felt more secure and less anxious about choosing this product.
Tangibility refers to _______.
The psychical aspect of a product.
Targeting
The purpose of ___ is to select group of consumers that marketers wish to serve in the product market.
Targeting
The purpose of _______ is to select the people (or organizations) that management wishes to serve in the product-market.
Geographic Segmentation
The region, the density of the population, and the size of the population are various approaches to use in _______.
Marketing Planning
The second element in the process cycle for CRM
Not the same across all products
The speed at which individual products within a category more through the PLC is ______.
Customer
The ultimate goal of CRM is maximizing _______ profitability though firm performance.
Customer
The ultimate goal of CRM is maximizing performance on the ________ side of the enterprise.
Marketers use geographic segmentation when?
There i evidence that consumers respond differently to marketing strategies and programs based on where they live.
Product Enhancement
When a company created a product that extends, enhances, and encourages the customer delivering its core, this concept is called?
Offering legal protection for a product.
When a competitor used its logo in a disparaging way in an advertisement, Max Corp, sued. It won the suit on the basis that the computer violated its trademark. Which of the following brand roles does this scenario exemplify?
Inseparability
When a product is produced consumed at the same time and cannot be separated from its provider, it is called __________.
Conveying information about a product
When customers see the logo of Mcdougall's restaurant, they think of food served quickly in a clean family-friendly environment. Which of the following brand roles does the exemplify?
Successful Innovations
When first introduces microwave overs, desktop computers, and cell phones were examples of new-to-the-world products considered ______ because they change how consumers behave.
Brand Association
With _____ customers develop a number of emotional, performance, and psychological connection with a brand.
A service is a product in a sense that is represents a bundle of benefits that can satisfy customers wants and needs, yet it does so______.
Without physical form
Brand Connections
Z brand is the market leader in small appliances. Its brand is also the strongest in the category band customer identify with the brand. Because of the strength o fits brand, other competitors are finding it difficult to successfully enter the marketplace. Which of the fowling benefits of brand equity for brand sponsors does the explempify.
Benefit Sought
____ segmentation focuses on why people buy what they buy
Market Segmentation
_____ is the process of identifying and analyzing sub-groups of buyers in a product-market with similar response characteristics.
Market Segments
______ are described by different characteristics of customers, the reasons that they buy or use certain products, and their preferences for certain brand of products.
National
_______ brands enable manufactured to leverage marketing resources by creating efficiencies in marketing communications and distribution.
Behavioral Segmentation
_______ divides customers into groups according to similarities in benefits sought or product usage patterns.
Customer Interaction
_______ is the third element in the process cycle for CRM.
One way to stimulate trial in the market for a new product in the consumer goods market is to use _______.
Coupons and contests campaigns
Co-Branding
Costco and American Express joined to offer Costco-American Express card the allows users to get rebates at Costco while expanding the reach of American Express. This is an example of?
