Concentrated marketing is when a company...

Focuses marketing efforts on one segment

Positioning generally results in the successful creation of .....

a customer-focused value proposition

Which TWO primary sources help consumers form attitudes and purchase intentions towards brands?

Product usage experience, Advertising

What is product repositioning?

Changing the place a product occupies in a consumer's mind

Brand equity refers to .....

How strongly people feel about a brand

A mistake brands make that threaten brand integrity is to .....

Be inconsistent about the way it presents itself

studbud

MKT2008/3151_Wk3_STP & Branding

30 termsStudBud Administration73 plays

marketing management, market segmentation, branding, targeting, competition advantage, positioning, advertising, promotion management

Flashcards30 cardsFPractice quizPHost liveL

Questions 30

Answers

1
Why has the hierarchy of effects model been criticized?
All the above
Its too simplistic
Only really applies to high involvement purchases
It suggests a single response pattern
2
What are the benefits of 'Market Segmentation'?
To serve customers better
To increase market share
To increase labour productivity
To compete strongly
3
Concentrated marketing is when a company...
Focuses marketing efforts on a particular country
Focuses marketing efforts on one segment
Focuses marketing efforts on a number of segments
Focuses marketing efforts on the mass market
4
Designing a company's offer to occupy a place in the mind of the target is known as:
Branding
Positioning
Targeting
Imaging
5
A brand is mainly your logo, mark, or image.
True
False
6
What are the 3 components of attitude?
All of the above
Affective=Feeling
Cognitive=Thinking
Conative=Behaviour
7
Which of these is NOT a budget setting method?
Objective and Task
Mortgage loan
Affordability
Percentage of Sales
8
A strong brand requires less advertising.
True
False
9
Coke markets soft drinks, water, juices & sports drinks. What type of strategy is this?
Undifferentiated marketing
Targeted marketing
Differentiated marketing
None of the above
10
Positioning generally results in the successful creation of .....
every-day-low-pricing
a demand channel
a customer-focused value proposition
an award winning promotional campaign
11
Which TWO primary sources help consumers form attitudes and purchase intentions towards brands?
Product usage experience
Celebrity endorsements
Word of Mouth from friends and family
Advertising
12
What is product repositioning?
Changing the image of a product
Changing the place a product occupies in a consumer's mind
Facts and figures that are newly collected
Displaying products on a map
13
How many stages are there in the hierachy of effects model?
6
4
5
2
14
B2C Segmentation creates ...
Subgroups of similar consumers
Subgroups for pricing
Subgroups of brands
Subgroups of companies
15
Which of these is used for segmenting B2B markets?
Industry type
Frequency of purchase
Number of employees
All of the above
16
Brand equity refers to .....
How strongly people feel about a brand
The brand equal to competing brands
The amount of money the company has invested
The brand price equal to competing brands
17
A brand name should:
All the above
Describe product benefits
Be memorable and easy to pronounce
Be compatible with its image
18
What is the share of market metric?
The number of units sold of a product off the shelves
The ratio of advertising spends to total category spends
The ratio of a brand's revenue to the total category revenue
All of the above
19
Free samples of products are part of the awareness process of adoption
TRUE
false
20
..... is the ability of a company to perform in a way that competitors can't match.
Brand positioning
Competitor analysis
Competitive intelligence
Competitive advantage
21
360 degree touchpoints means selecting one media
TRUE
false
22
Mercedes Benz would define their market as .....
All of the above
The motor car market
The transportation market
The luxury car market
23
In brand development solving problems for consumers is
A symbollic need
An emotional need
A functional need
24
If brands have a large share of voice (SOV) they generally have a large share of market (SOM)
FALSE
TRUE
25
Brand Equity increases
Revenue earnings
Higher market share
Loyalty
All of the above
26
Ace Hardware runs a campaign to attract "everyone to buy hacksaw blades, what strategy is this?
Concentrated marketing
The 80/20 principle
Undifferentiated marketing
Differentiated marketing
27
How does branding help a product?
It establishes a reason to exist
Its establishes an icon
It establishes a cause
It establishes an identity
28
A mistake brands make that threaten brand integrity is to .....
Give away lots of product to gain new customers
Be inconsistent about the way it presents itself
Have a marketing team that is too small
Try to outshine the competition
29
Why segment a market?
To identify the most appropriate media for advertising.
To better understand their target segments.
All of the above.
To create an offer that meets desires of the segments.
30
Branding strategy is also called
Brand earnings
Branding rate
Brand architecture
Brand responsiveness

MKT2008/3151_Wk3_STP & Branding Flashcards | StudBud