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MKT 6301-Chapter 7

QuestionAnswer
1) The huge success of Heinz Ketchup's plastic squeeze bottles is an example of differentiation on the basis of: Answer: packaging.
2) When a company dramatically changes its product's packaging, most likely, it's main objective is to: Answer: differentiate its products from its competitors.
3) Company names which are brands and have meaning to customers are known as: Answer: corporate brands.
4) In cases where the individual brand name is associated with the corporate brand name, it is known as: Answer: corporate parent brands.
5) ________ are also known as "umbrella" brands. Answer: Corporate parent brands
6) If a company is using "branded house" strategy, it will introduce: Answer: corporate parent brands.
7) Often, individual brand names are separate and distinct from the corporate brand. For example, Crest is not marketed with the Proctor & Gamble name. These brands are known as: Answer: distinct product brands.
8) HP LaserJet series is an example of: Answer: corporate parent brand.
9) When a company uses "house of brands" strategy, the brands introduced by the company are known as: Answer: distinct product brands.
10) Often, two independent companies will cooperate to have both brands highlighted in a product. These are known as: Answer: co-brands.
11) When a company uses "house of brands" strategy, the brands introduced by the company are known as: Answer: distinct product brands.
12) Ingredient branding is a special case of: Answer: co-branding.
13) The strongest measure of a brand's value is: Answer: brand loyalty.
14) Which of the following is a component of brand equity? Answer: perceived quality
15) Patents and trademarks are valuable to products and services dimensions. Which dimension of brand equity do they fall under? Answer: other brand assets
16) Brand loyalty is a component of: Answer: brand equity.
17) Which of the following is essential to building a strong brand? Answer: Assign responsibility for brand development activities.
18) The main variable that determines the extent to which brand equity can be transferred to the extension is called: Answer: fit.
19) Which of the following is one of the main considerations for the fit of an extension to the parent brand category? Answer: transferability of the associations
20) Which of the following is most likely to be the reason due to which the Logitech brand transferred well from mice to trackballs? Answer: transferability of the associations
21) With reference to global marketing, identify the example that best explains the term "consumer convergence." Answer: Upscale consumers in Paris have more in common with their counterparts in New York than with many other French people.
22) With reference to global marketing, identify the example that best explains the term "cultural convergence." Answer: Teenagers in Tokyo, London, and San Francisco dress and talk similarly and buy the same kinds of products.
23) Which of the following is one of the objections to global marketing perspective? Answer: It is difficult to implement.
24) Which of the following describes how a local firm could defend its local market against a global company? Answer: It should emphasize its home country or ethnic origin.
25) A study has identified four different segments of consumers that exist with respect to their attitudes towards global brands. Identify the largest segment. Answer: global citizens
26) Identify the consumer segment that are highly interested in global brands and are less concerned about the companies' social responsibility. Answer: global dreamers
27) Identify the consumer segment who judge all products by the same criteria and do not give the global dimension any additional weight beyond other characteristics. Answer: global agnostics
28) Identify the smallest consumer segment. Answer: global agnostics
29) For global brand ranking purposes, Interbrand has defined global brands as brands selling at least ________ outside of their home country. Answer: 20%
30) Which of the following statements is true regarding the mature stage of high-tech products? Answer: perceived brand differences are small
31) In high-technology companies, there is an inordinate focus on the technology and product features rather than the customer and the benefits sought because: Answer: high-technology companies are usually founded and run by engineers.
32) A company is typically considered as a(n) ________ when it uses a supplier's component in its own finished product. Answer: original equipment manufacturer
33) Which of the following examples best describe co-branding in high-tech markets? Answer: the "Intel Inside" promotion
34) Identify one of the dimensions of brand personality. Answer: ruggedness
35) Well-known, heavily supported brands made and distributed by large, often global companies are known as: Answer: national brands.
36) Coke and Sony are well-known, heavily supported, and distributed by global companies. They are examples of: Answer: national brands.
37) Which of the following brands is most likely to carry a retailer's chain name? Answer: private labels
38) Which of the following types of brands carries no name at all? Answer: generics
39) Which of the following types of brands are also known as store brands? Answer: private labels
40) Which of the following statements is true regarding a private label brand? Answer: It is usually the low-priced option in the category.
41) Which of the following is one of the two largest markets for private-label grocery items outside the United States? Answer: Australia
42) Some companies manufacture and sell both their own brand as well as a private-label brand. What is the greatest risk to the company by pursuing this strategy? Answer: cannibalizing its own brand
43) ________ is one of the two approaches to measuring brand equity and these represent how customers have actually responded to the brand. Answer: Behavioral measures
44) Which of the following approaches to measuring brand equity are measures of how the brand is represented psychologically in the minds of the customers? Answer: intermediate measures
45) According to the Brand Asset Valuator (BAV) model, which of the following is one of the key dimensions of brand equity? Answer: differentiation
46) A perceptual map that contains both brand spatial locations as well as consumer perceptions of their ideal brand is known as: Answer: joint space.
47) Identify the approach that develops perceptual maps based only on customer-based judgments of brand similarity. Answer: multidimensional scaling
48) Which of the following is a good example of brand repositioning? Answer: adding a health claim to orange juice
49) When companies reposition their products and themselves as "green," they are trying to indicate that: Answer: they are socially and environmentally conscious.
50) Greenwashing refers to: Answer: misleading consumers about a product's environmental benefits.
51) Which of the following statements is true regarding the early stages of the product life cycle? Answer: competition is generic
52) Which of the following best describes the strategy where product variants are developed to appeal to different segments of the market or to satisfy customers' needs for variety? Answer: product line strategy
53) When the elements of a product line appeal to different segments of the market with different characteristics, a ________ approach can be used for analyzing such a product line. Answer: portfolio
54) According to the Boston Consulting Group (BCG) matrix, when the market growth of a product is low but the relative market share is high, it is known as a: Answer: cash cow.
55) According to the Boston Consulting Group (BCG) matrix, when both market growth and the relative market share of a product is low, it is known as a: Answer: dog.
56) According to the Boston Consulting Group (BCG) matrix, when the market growth of a product is high but the relative market share is low, it is known as a: Answer: problem child.
57) According to the Boston Consulting Group (BCG) matrix, when both market growth and relative market share of a product is high, it is known as a: Answer: star.
58) Products falling under one category of the BCG matrix are most likely to be eliminated. Identify this category. Answer: dogs
59) In the BCG matrix, identify the category of products that are net users of cash because they need money to make product improvements to compete in the lucrative, high-growth segment. Answer: problem children
60) Which of the following products need cash to maintain their market leadership position but they are also generating some because of the high margins they can maintain? Answer: stars
61) ________ refers to a process whereby a company takes a product or service that is widely marketed and perhaps offered in many different configurations and develops a system for customizing it to each customer's specifications. Answer: Customerization
62) Mass customization is also known as: Answer: one-to-one marketing.
63) Identify the approach to mass customization where customizers talk to customers to help determine their needs, identify the exact product meeting those needs, and then make the customized product for them. Answer: collaborative customizers
64) ________ offer one standard but a customizable product that is designed so users can alter it to their own specifications. Answer: Adaptive customizers
65) ________ present a standard product differently to each customer. Answer: Cosmetic customizers
66) ________ provide each customer with unique products or services without telling them that the products have been customized for them. Answer: Transparent customizers
67) Every time you visit a Web site, information about you is collected by that and can be ultimately used to target specific messages. Some of this information is collected by what is called a: Answer: cookie.
68) ________ takes place when the sales for a new element of a product line are not entirely new rather it is taken away from an existing element of the line. Answer: Cannibalization
69) Brand names separate from the corporate brand are known as corporate parent brands. Answer: FALSE
70) Brands increase information search costs. Answer: FALSE
71) Brands provide expectations of quality, risk reduction, and prestige. Answer: TRUE
72) Ingredient branding is a special case of corporate parent branding. Answer: FALSE
73) When two independent companies cooperate to have both brands highlighted in a product it is known as corporate parent branding. Answer: FALSE
74) When the corporate brand is carried with individual product names it is known as co-branding. Answer: FALSE
75) Patents and trademarks are considered as brand assets. Answer: TRUE
76) High awareness among the target audience is only a necessary but not a sufficient condition for high equity. Answer: TRUE
77) Marketing managers can fully control their brands. Answer: FALSE
78) As high-tech products proliferated, branding became an important segment of their marketing strategy. Answer: TRUE
79) A key issue with brand extensions is whether the new product with the successful brand name can potentially harm the "parent" brand if the extension is a flop. Answer: TRUE
80) Differences between nations are often less than differences within nations. Answer: TRUE
81) The concept of global marketing is similar to market or customer orientation. Answer: FALSE
82) Global marketing is based on a systematic analysis of customer behavior in each market. Answer: FALSE
83) Consumers which fall under the global agnostics segment rely on the global success of a company to signal its product quality and innovativeness. Answer: FALSE
84) As high-tech products mature, the marketing strategies employed are very different from those for other products in the mature or decline stage of the life cycle. Answer: FALSE
85) Research has found that, similar to human relationships, people find comfort and satisfaction with brands to which they are loyal. Answer: TRUE
86) Retail stores often make lower margins on private-label brands because of their lower prices. Answer: FALSE
87) Product positioning is an activity that takes the value proposition and puts it to work in the marketplace by planting the competitive advantage in the minds of customers. Answer: TRUE
88) Multidimensional scaling is a perceptual map that contains both brand spatial locations as well as consumer perceptions of their ideal brand. Answer: FALSE
89) The notion of developing different product features for different segments is particularly appealing for manufactured products. Answer: FALSE
90) At the maturity of the product life cycle, competition is generic and the job of the marketing manager is to convince potential customers that the new product satisfies their needs better than an existing substitute. Answer: FALSE
91) When sales for a new element of the line are not entirely incremental and come from an existing element of the line, it is known as cannibalization. Answer: TRUE
92) Too many cash cows means considerable revenue generation but no future. Answer: TRUE
93) Too many products in the upper quadrants implies significant cash flow requirements that are not being met. Answer: TRUE
94) Cosmetic customizers provide each customer with unique products or services without telling them that the products have been customized for them. Answer: FALSE
95) A group of closely related products offered by a company is called the product line. Answer: TRUE
96) Packaging can be an important differentiator. Answer: TRUE
97) Discuss briefly why customers value brands. Answer:
98) Define brand equity and list the assets and liabilities underlying brand value. Answer: Brand equity is a set of assets (and liabilities) linked to a brand's name and symbol that adds to (or subtracts from) the value provided by a product or service to a firm or that firm's customers.
99) Discuss how you would build strong brands over time. Answer:
100) List the main considerations for the "fit" of a brand extension to the parent brand category. Answer:
101) In the early 1980s Theodore Levitt, seeing dramatic improvements in telecommunications, was the first person to call for a truly global approach to marketing. The first company to pick up his ideas was London-based Saatchi & Saatchi, an advertising agency. Discuss S&S's rationale for global marketing. Answer:
Created by: lonehorse
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