Life stage defines a person’s age.
While creating a loyal brand community is useful for large companies, it is not
cost-effective for small firms.
Marketing planning begins with formulating an offering to meet target customers’ needs
or wants.
Intensive distribution is becoming a mainstay for specialists looking for an edge in
markets increasingly driven by price.
Marketers need to be aware of the status-symbol potential of brands because people
usually choose products which reflect their role and their actual or desired status in a
society.
Sales promotions often attract brand switchers, who are primarily looking for low price,
good value, or premiums.
Keeping a survey short and simple and contacting customers no more than once a
month are two keys to drawing people into the data collection effort.
Incessant price reductions, coupons, deals, and premiums can devalue a product in
buyers’ minds.
In the rapidly changing market of today’s world, product lines must be continuously
updated or modernized.
The industry concept of competition reveals a broader set of actual and potential
competitors than competition defined in just the market concept.
Brand mantras are typically designed to capture the brand’s points-of-parity, that is,
what is unique about the brand.
Category points-of-parity may change over time due to technological advances, legal
developments, or consumer trends.
The means of differentiation that are often most compelling to consumers relate to
aspects of the product and service.
Pure bundling occurs when a firm offers goods both individually and in bundles.
Another name for a company’s value delivery network is “distribution chain.”
A good illustration of negatively correlated attributes or benefits is good taste versus
bad taste.
When GlaxoSmithKline sponsored a weight-loss community in preparation for the
launch of its first weight-loss drug, Alli, which of the following was the key benefit of
the online community?
A) Consumers did not have commercial interests or company affiliations.
B) Democratization of innovation for lowest-common denominator solutions.
C) Two-way information flow led to useful, hard-to-get customer information and
insights.
D) A point of contact for product recalls.
E) One-way communication with customers.
________ 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
When Procter & Gamble used Gain and Cheer laundry detergents as outposts to protect
a weak front or support a possible counterattack, they were using a ________ defense.
A) flank
B) position
C) preemptive
D) counteroffensive
E) mobile
BRZ Shoes targets the youth market with vibrant, visually appealing ads in modern
styles. BRZ ads appeal to the ________ dimension of brand experience.
A) sensory
B) affective
C) behavioral
D) intellectual
E) social
MasterCard and Visa may team up with university alumni associations to offer affinity
credit cards that typically display an iconic image associated with the university on the
card itself and may include an incremental donation program associated with purchases
made using the card. The best description of this form of alliance would be a ________.
A) product alliance
B) logistics alliance
C) pricing collaboration
D) network alliance
E) promotional alliance
________ is a consumer promotion tool that involves inviting prospective purchasers to
try the product without cost in the hope that they will buy.
A) Sampling
B) Premium
C) Cross-promotion
D) Free trial
E) Rebate
Which of the following is true regarding a matrix-management organization?
A) It proves to be cost-effective in the long run.
B) It often creates conflicts regarding authority and responsibility for marketing
activities.
C) It hampers the flow of information among marketing personnel.
D) It fosters a strong sense of accountability for performance among product and
market managers.
E) It is best suited to companies that offer a small range of products to niche markets.
Cabot (Scenario)
Cabot, a large car manufacturer, has four popular car brands in different segments. It
has a manufacturing facility near Detroit, MI, where parts common to all the four
brands are manufactured. Other specific parts like the brake system, windshield, bonnet,
locks, and so on are manufactured in separate plants. Each make has its own product
manager and support staff. All product managers report to the CEO of the company.
Cabot’s CEO’s annual compensation is an example of a ________ cost.
A) direct
B) variable
C) traceable common
D) nontraceable common
E) manufacturing
________ marketing is about making sure the brand and its marketing are as personally
relevant as possible to as many customers as possible ‘” a challenge, given that no two
customers are identical.
A) Personalizing
B) Permission
C) Identification
D) Database
E) Integrated
Because of the acceptance that the other Broomer products have in the market, retailers
are willing to stock items from the new “Inducer” line of clothing. This is an example of
________ power.
A) referent
B) passive
C) legitimate
D) coercive
E) reward
Competitive superiority and channel support are factors that influence the ________
multiplier of the brand value chain.
A) program
B) customer
C) brand
D) profit
E) market
A medical “detailer” that represents an ethical pharmaceutical house, who builds
goodwill or educates the actual or potential user but is not permitted to take an order, is
an example of a ________.
A) missionary salesperson
B) technician
C) demand creator
D) solution vendor
E) deliverer
When banks try to make their positioning strategies tangible through the ________
dimension, they make sure the exterior and interior have clean lines, the layout of the
desks and the traffic flow are planned carefully, and waiting lines are not overly long.
A) people
B) symbols
C) equipment
D) place
E) communication material
Which of the following is most consistent with the integrated marketing approach?
A) A good product will sell itself.
B) If left alone, consumers are inclined to purchase only inexpensive products.
C) All communication to consumers must deliver a consistent message irrespective of
the medium.
D) In order to succeed, the main focus should be on having an efficient production
process in place.
E) Online marketing is less important than traditional marketing efforts.
A ________ consists of a group of customers who share a similar set of needs and
wants.
A) vertical marketing system
B) market basket
C) market share
D) market segment
E) market level
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
What should manufacturers do to compete against or collaborate with private labels?
Marketing has been described as being both an “art” and a ‘science.” Discuss the
differences and similarities between these two marketing thrusts. Provide your
theoretical response and a “real-life” example where you have seen both processes work
effectively at creating customer value and loyalty.
Heuristics can come into play when consumers forecast the likelihood of future
outcomes or events. When would a consumer use an anchoring and adjustment
heuristic?
Describe what happens in scenario analysis and explain why firms such as Royal
Dutch/Shell Group use the technique.
What are the three main platforms for social media?
What are the elements of the marketing communications mix?
How is coordination of media achieved through integrated marketing communications?