When Interbrand uses competitive benchmarking and a structured evaluation of the
brand’s clarity, commitment, protection, responsiveness, relevance, differentiation,
consistency, presence, and understanding to determine the likelihood the brand will
realize forecasted Brand Earnings, it is calculating Brand Value.
Kraft utilized customers to name its new flavor of its iconic Vegemite product, and their
selection, iSnack 2.0, increased sales dramatically.
For an MBO (management by objectives) system to work, one of the four criteria that
the unit’s objectives must meet is that objectives must be stated quantitatively whenever
possible.
Social media allow marketers to build or tap into online communities, inviting
participation from consumers and creating a long-term marketing asset in the process.
Place marketers include economic development specialists, real estate agents,
commercial banks, local business associations, and advertising and public relations
agencies.
Industrial economies provide limited marketing opportunities for luxurious goods.
The main dimensions of the VALS segmentation framework are consumer motivation
and consumer resources.
Survival-age distribution refers to the number of customers that the product has in year
one, two, three, and so on.
If the length of downtime increases, the cost incurred decreases.
Inventory cost increases at an accelerating rate as the customer-service level approaches
100 percent.
What the customer expects from a service is called the primary service package.
Ingredient branding can take on a form called ‘self-branding” in which the company
advertises its own branded ingredients.
Occasionally, a company will be able to straddle two frames of reference with one set of
points-of-difference and points-of-parity.
ESPN Zone restaurants tap into competitive masculinity and American Girl dolls tap
into mother-daughter relationship and the cross-generational transfer of femininity.
These are examples of narrative arcs.
The proliferation of targeted media and communication channels has allowed marketers
to become much more aware of their target consumers’ preferences and to customize
both products and messages for individual consumers.
With respect to the brand building pyramid, at which of the following “building block
levels” would we expect the consumer to develop positive and accessible reactions?
A) resonance
B) salience
C) imagery
D) performance
E) feelings
According to marketing consultant Pat LaPointe, the ________ metrics measurement
pathway of the marketing dashboard reflects how prospects become consumers.
A) customer
B) unit
C) cash-flow
D) brand
E) productivity
________ can work to the advantage of marketers with strong brands when consumers
make neutral or ambiguous brand information more positive.
A) Selective attention
B) Selective distortion
C) Selective retention
D) Selective choice
E) Selective embellishment
________ price refers to what the consumers feel the product should cost.
A) Fair
B) Typical
C) Usual discounted
D) List
E) Maximum retail
Tasteeos, Fruit Rings, and Corn Flakes sell for nearly $1 a box less than leading cereal
brands. Which market follower strategy is being employed by the cereal manufacturer?
A) counterfeiter
B) cloner
C) imitator
D) adapter
E) reverse innovator
The primary purpose of ________ is to identify the range of possible brand associations
in consumers’ minds.
A) experimental research
B) dashboarding
C) laddering
D) semantic differentials
E) word associations
A brand must demonstrate ________, for it to function as a true point-of-difference.
A) clear superiority of an attribute or benefit
B) clear profitability to the company
C) clear similarity to the attributes of other brands
D) technological advances for an attribute or benefit
E) exploitation of competitors’ weakness
Transforming into a true market-driven company requires organizing around ________.
A) sales
B) customer segments
C) products
D) functions
E) brands
When purchasing disposable surgical gowns, Mercy Hospital’s vice president of
purchasing analyzes whether the hospital should buy disposable gowns or reusable
gowns. If the findings favor disposable gowns, then the operating-room administrator
compares various competitors’ products and prices and makes a choice. Surgeons
influence the decision retroactively by reporting their satisfaction with the particular
brand. In this situation, the surgeons perform the role of the ________.
A) decider
B) initiator
C) user
D) gatekeeper
E) buyer
The ________ defines which other brands a brand competes with and therefore which
brands should be the focus of competitive analysis.
A) consumer profitability analysis
B) competitor indexing
C) service blueprint
D) competitive frame of reference
E) cluster analysis
A(n) ________ is any good, service, or idea that is perceived as new, no matter how
long its history.
A) commodity
B) innovation
C) adoption
D) invention
E) novel product
Which of the following products is most likely to be characterized by low involvement
but significant brand difference?
A) toothpastes
B) digital cameras
C) packet of salt
D) a milk carton
E) furniture
Which of the following actions would result in the elimination of uncontrollable returns
of products in the short run?
A) improved handling
B) better packaging
C) improved transportation
D) proper storage
E) cannot be eliminated
A characteristic of a ________ unit is that it can be a single business or collection of
related businesses that can be planned separately from the rest of the company.
A) strategic business
B) subsidiary
C) merged
D) niche market
E) specialized business
With respect to the ‘six brand building blocks,” brand ________ describes the
relationship customers have with the brand and the extent to which they feel they’re “in
sync” with it.
A) imagery
B) judgment
C) resonance
D) salience
E) performance
The task environment of a firm consists of demographic, economic, natural, and
technological environments, as well as the political-legal system and the social-cultural
arena.
As inventory draws down, management must know at what stock level to request
additional stock. This stock level is called the ________.
A) reorder point
B) least fixed point
C) point of divergence
D) inflection point
E) critical point
Which of the following is NOT a limitation of online reviews?
A) People trust and value positive reviews more than negative reviews.
B) Online reviews can be biased.
C) Raters are influenced by previous, positive ratings.
D) Social influence can lead to disproportionally positive online ratings.
E) Online reviews can be fake.
Newlyweds in the United States buy more in the first six months than an established
household does in five years. Newlyweds are an example of a(n) ________ segment.
A) life stage
B) age
C) behavior
D) user status
E) income
Define sensory marketing and identify at least one consideration for each of the five
senses.
Josh travels often on business trips. He usually uses the services of the Sunshine Cab
Company to take him to the airport and pick him up from the airport. Though the fares
are usually higher than those of other private taxi companies, he prefers to use Sunshine
cabs because they’re always on time and have well-maintained cabs. Which determinant
of service quality does this demonstrate?
Members of a marketing channel perform three types of functions. Provide examples of
these three functions in the context of a publishing company that publishes books and
magazines.
To increase customer loyalty, 2Wheels wants to start a club for its dedicated customers,
but wants to make sure that only members who want to participate in activities join the
club. What can it do to ensure this?
What is positive customer-based brand equity?
Explain how risk analysis is used to estimate profits.
Eureka Forbes, an Asian consumer appliances company, sells its vacuum cleaners
through door-to door sales. This allows the company to obtain a high conversion ratio.
Comment on the length of the channel in the case of Eureka Forbes’ vacuum cleaners.