Exam 7: Crafting the Brand Positioning and Competing Effectively

As a company seeks to establish a category membership designation, how does the company approach points-of-difference? What is typically done first?

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Question 1

Correct Answer:

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The typical approach to positioning is to inform consumers of a brand's membership before stating its point-of-difference. Presumably, consumers need to know what a product is and what function it serves before deciding whether it dominates the brands against which it competes.

Epic Inc., a firm that produces chairs for offices, uses comparative advertising to inform consumers that its products offer the same features and quality as the competitor's. This is an example of a(n) ________ attack.

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Question 2

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Explain three variables a firm should consider when analyzing potential threats posed by competitors.

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Question 3

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In general, the firm should monitor three variables when analyzing potential threats posed by competitors:
1. Share of market-competitors' share of the target market.
2. Share of mind-percentage of customers who named the competitor in responding to the statement, "Name the first company that comes to mind in this industry."
3. Share of heart-percentage of customers who named the competitor in responding to the statement, "Name the company from which you would prefer to buy the product."

Narrative branding is based on deep metaphors that connect to people's memories, associations, and stories.

(True/False)

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Question 4

A brand must demonstrate ________, for it to function as a True point-of-difference.

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Question 5

Belling wants to analyze the threats posed by its competitors. Which three variables must it monitor to achieve this?

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Question 6

Marketers typically focus on brand ________ in choosing the points-of-parity and points-of-difference that make up their brand positioning.

(Multiple Choice)

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Question 7

Points-of-________ are product associations that are not necessarily unique to the brand but may in fact be shared with other brands.

(Multiple Choice)

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Question 8

With respect to positioning, explain points-of-parity and points-of-difference.

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Question 9

A marketing manager has decided to "leapfrog" the competition by moving into cutting-edge technologies. This indirect approach to attacking competition can be characterized as a(n) ________ attack.

(Multiple Choice)

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Question 10

Associations that make up points-of-difference are based exclusively on product features.

(True/False)

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Question 11

Small businesses should focus on building one or two strong brands based on one or two key associations.

(True/False)

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Question 12

Compare responsive marketing, anticipative marketing, and creative marketing. Which is the most proactive?

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Question 13

When Starbucks introduced its Tazo Tea line to bring in new customers who had never gone to Starbucks because they don't drink coffee, Starbucks was employing a ________ strategy.

(Multiple Choice)

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Question 14

Nivea became the leader in the skin cream class on the "gentle," "protective," and "caring" platform. The company further moved into classes such as deodorants, shampoos, and cosmetics. Attributes like gentle and caring were of no value unless consumers believed that its deodorant was strong enough, its shampoo would cleanse, and its cosmetics would be colorful enough. This is an example of ________.

(Multiple Choice)

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Question 15

Philip Morris bought Miller brewing and launched low-calorie beer, at a time when consumers had the impression that low-calorie beer does not taste as good as normal beer. What did the company try to build when they conveyed the fact that the beer contained one third less calories and hence it is less filling?

(Multiple Choice)

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Question 16

The cost of buying higher market share through acquisition may far exceed its revenue value. Which are the four factors a company should consider before doing so?

(Essay)

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Question 17

________ refers to the products or sets of products with which a brand competes and which function as close substitutes.

(Multiple Choice)

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Question 18

SJC is a new retailer that targets the youth market. SJC needs to make an impression using advertising, and decides to use funny or irreverent ads to get its point across. Each ad features one of SJC's competitors and conveys an advantage SJC has over that competitor. Which of the following is the company using to convey its membership in the retail segment?

(Multiple Choice)

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Question 19

Which of the following criteria relates to the company having the internal resources and commitment to feasibly and profitably create and maintain the brand association in the minds of consumers?

(Multiple Choice)

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Question 20

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As a company seeks to establish a category membership designation, how does the company approach points-of-difference? What is typically done first?

Epic Inc., a firm that produces chairs for offices, uses comparative advertising to inform consumers that its products offer the same features and quality as the competitor's. This is an example of a(n) ________ attack.

Explain three variables a firm should consider when analyzing potential threats posed by competitors.

Narrative branding is based on deep metaphors that connect to people's memories, associations, and stories.

A brand must demonstrate ________, for it to function as a True point-of-difference.

Belling wants to analyze the threats posed by its competitors. Which three variables must it monitor to achieve this?

Marketers typically focus on brand ________ in choosing the points-of-parity and points-of-difference that make up their brand positioning.

Points-of-________ are product associations that are not necessarily unique to the brand but may in fact be shared with other brands.

With respect to positioning, explain points-of-parity and points-of-difference.

A marketing manager has decided to "leapfrog" the competition by moving into cutting-edge technologies. This indirect approach to attacking competition can be characterized as a(n) ________ attack.

Associations that make up points-of-difference are based exclusively on product features.

Small businesses should focus on building one or two strong brands based on one or two key associations.

Compare responsive marketing, anticipative marketing, and creative marketing. Which is the most proactive?

When Starbucks introduced its Tazo Tea line to bring in new customers who had never gone to Starbucks because they don't drink coffee, Starbucks was employing a ________ strategy.

The cost of buying higher market share through acquisition may far exceed its revenue value. Which are the four factors a company should consider before doing so?

________ refers to the products or sets of products with which a brand competes and which function as close substitutes.

Which of the following criteria relates to the company having the internal resources and commitment to feasibly and profitably create and maintain the brand association in the minds of consumers?

Defining Marketing for the New Realities

Developing and Implementing Marketing Strategies and Plans

Capturing Marketing Insights and Forecasting Demand

Creating Long-Term Loyalty Relationships

Analyzing Consumer and Business Markets

Identifying Market Segments and Targets

Creating Brand Equity and Driving Growth

Setting Product Strategy and Introducing New Offerings

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

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