MKT 6301-Chapter 7
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| 1) The huge success of Heinz Ketchup's plastic squeeze bottles is an example of differentiation on the basis of: | show 🗑
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| 2) When a company dramatically changes its product's packaging, most likely, it's main objective is to: | show 🗑
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| show | Answer: corporate brands.
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| 4) In cases where the individual brand name is associated with the corporate brand name, it is known as: | show 🗑
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| 5) ________ are also known as "umbrella" brands. | show 🗑
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| show | Answer: corporate parent brands.
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| show | Answer: distinct product brands.
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| show | Answer: corporate parent brand.
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| 9) When a company uses "house of brands" strategy, the brands introduced by the company are known as: | show 🗑
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| show | Answer: co-brands.
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| 11) When a company uses "house of brands" strategy, the brands introduced by the company are known as: | show 🗑
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| 12) Ingredient branding is a special case of: | show 🗑
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| show | Answer: brand loyalty.
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| 14) Which of the following is a component of brand equity? | show 🗑
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| show | Answer: other brand assets
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| show | Answer: brand equity.
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| show | Answer: Assign responsibility for brand development activities.
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| 18) The main variable that determines the extent to which brand equity can be transferred to the extension is called: | show 🗑
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| 19) Which of the following is one of the main considerations for the fit of an extension to the parent brand category? | show 🗑
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| show | Answer: transferability of the associations
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| 21) With reference to global marketing, identify the example that best explains the term "consumer convergence." | show 🗑
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| 22) With reference to global marketing, identify the example that best explains the term "cultural convergence." | show 🗑
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| show | Answer: It is difficult to implement.
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| 24) Which of the following describes how a local firm could defend its local market against a global company? | show 🗑
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| show | Answer: global citizens
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| 26) Identify the consumer segment that are highly interested in global brands and are less concerned about the companies' social responsibility. | show 🗑
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| show | Answer: global agnostics
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| 28) Identify the smallest consumer segment. | show 🗑
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| 29) For global brand ranking purposes, Interbrand has defined global brands as brands selling at least ________ outside of their home country. | show 🗑
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| show | Answer: perceived brand differences are small
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| show | Answer: high-technology companies are usually founded and run by engineers.
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| 32) A company is typically considered as a(n) ________ when it uses a supplier's component in its own finished product. | show 🗑
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| 33) Which of the following examples best describe co-branding in high-tech markets? | show 🗑
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| show | Answer: ruggedness
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| 35) Well-known, heavily supported brands made and distributed by large, often global companies are known as: | show 🗑
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| 36) Coke and Sony are well-known, heavily supported, and distributed by global companies. They are examples of: | show 🗑
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| show | Answer: private labels
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| show | Answer: generics
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| 39) Which of the following types of brands are also known as store brands? | show 🗑
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| show | Answer: It is usually the low-priced option in the category.
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| show | Answer: Australia
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| 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? | show 🗑
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| 43) ________ is one of the two approaches to measuring brand equity and these represent how customers have actually responded to the brand. | show 🗑
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| show | Answer: intermediate measures
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| 45) According to the Brand Asset Valuator (BAV) model, which of the following is one of the key dimensions of brand equity? | show 🗑
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| show | Answer: joint space.
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| 47) Identify the approach that develops perceptual maps based only on customer-based judgments of brand similarity. | show 🗑
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| show | Answer: adding a health claim to orange juice
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| show | Answer: they are socially and environmentally conscious.
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| show | Answer: misleading consumers about a product's environmental benefits.
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| show | Answer: competition is generic
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| show | Answer: product line strategy
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| show | Answer: portfolio
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| show | Answer: cash cow.
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| show | Answer: dog.
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| 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: | show 🗑
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| show | Answer: star.
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| 58) Products falling under one category of the BCG matrix are most likely to be eliminated. Identify this category. | show 🗑
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| 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. | show 🗑
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| 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? | show 🗑
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| 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. | show 🗑
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| 62) Mass customization is also known as: | show 🗑
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| show | Answer: collaborative customizers
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| show | Answer: Adaptive customizers
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| 65) ________ present a standard product differently to each customer. | show 🗑
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| 66) ________ provide each customer with unique products or services without telling them that the products have been customized for them. | show 🗑
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| show | Answer: cookie.
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| 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. | show 🗑
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| show | Answer: FALSE
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| 70) Brands increase information search costs. | show 🗑
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| 71) Brands provide expectations of quality, risk reduction, and prestige. | show 🗑
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| show | Answer: FALSE
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| 73) When two independent companies cooperate to have both brands highlighted in a product it is known as corporate parent branding. | show 🗑
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| show | Answer: FALSE
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| show | Answer: TRUE
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| 76) High awareness among the target audience is only a necessary but not a sufficient condition for high equity. | show 🗑
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| show | Answer: FALSE
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| 78) As high-tech products proliferated, branding became an important segment of their marketing strategy. | show 🗑
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| 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. | show 🗑
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| 80) Differences between nations are often less than differences within nations. | show 🗑
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| show | Answer: FALSE
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| show | Answer: FALSE
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| show | Answer: FALSE
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| 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. | show 🗑
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| show | Answer: TRUE
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| 86) Retail stores often make lower margins on private-label brands because of their lower prices. | show 🗑
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| 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. | show 🗑
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| 88) Multidimensional scaling is a perceptual map that contains both brand spatial locations as well as consumer perceptions of their ideal brand. | show 🗑
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| 89) The notion of developing different product features for different segments is particularly appealing for manufactured products. | show 🗑
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| show | Answer: FALSE
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| show | Answer: TRUE
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| 92) Too many cash cows means considerable revenue generation but no future. | show 🗑
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| show | Answer: TRUE
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| show | Answer: FALSE
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| 95) A group of closely related products offered by a company is called the product line. | show 🗑
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| 96) Packaging can be an important differentiator. | show 🗑
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| show | Answer:
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| 98) Define brand equity and list the assets and liabilities underlying brand value. | show 🗑
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| 99) Discuss how you would build strong brands over time. | show 🗑
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| show | Answer:
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| 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. | show 🗑
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