MKTG 380 Quiz 7

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

False

Makers of generic products are dependent on brand loyalty for their marketing success.

False

Placing a product at a certain point or location within a market in the minds of prospective buyers is known as market mapping.

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 original owner of a brand name can claim exclusive rights to the name even when the brand name becomes a descriptive generic name for a class of products.

False

A global brand is generally defined as one that sells at least 60 percent outside its home country.​

False (30%)

Visuals, people, and slogans are all an example of

Brand Associations

A company's ability to market a product successfully at a higher price compared to its competitors is directly related to its:

Brand Equity

Organizational Drivers are made up of:

Brand mission, values and story

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

Business Product

Kenmore is a well-known brand of appliances sold exclusively by Sears. Kenmore is best described as a(n) ____ brand.

Captive

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

Consumer Product

According to the Young & Rubicam's BrandAsset Valuator model, the _____ dimension of a brand personality is a combination of perceived quality and consumer perceptions about its growing or declining popularity.

Esteem

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

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?​

Not Brand Manager

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.

Not Business

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

Not Product Users

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

Placing a product at a certain point or location within a market in the minds of prospective buyers is known as _____.

Positioning

Which of the following is utilized to help managers position products by graphically illustrating consumers' perceptions of competing products within an industry?​

Positioning Map

Starbucks marketing itself as "premium coffee" beverage retailer is an example of a positioning strategy based on _____.

Product class

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

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

Target Market

"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

A brand name should give buyers the correct connotation of the product's image.

True

A positioning map provides a valuable tool to help managers position products by graphically illustrating consumers' perceptions of competing products within an industry.

True

A product's package color, size and label shapes are all part of its trade dress.

True

A trademark is different from a trade name, which is usually used to identify a company.

True

An effective label performs both promotional and informational functions.

True

Companies that follow category management process define the category based on the target market's needs.

True

Competition in the market usually forces firms to adopt a differentiated marketing strategy.

True

Family brands cost more than individual brands to market.

True

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

True

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

Manufacturers' brands are also called national brands.

True

Product positioning refers to consumers' perceptions of a product's attributes, uses, quality, and advantages and disadvantages relative to competing brands.

True

Small manufacturers usually assign a category manager to each major channel such as grocery stores or drugstores, instead of each retail chain.

True

The practice of brand licensing expands a company's exposure in the marketplace.

True

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.

True

Brand Values are examples of

beliefs and standards of behavior that are so important to an organization that they won't give up them when the going get's tough

Marketers applying a positioning strategy want to:

emphasize a product's unique advantages and differentiate it from competitors' options.

A positioning map

shows how consumers view a product relative to competitive products.

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 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?

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