Deck 33: Product and Brand Strategies

Question 1

Apple's practice of making technology fun and hassle free is an example of its

A) core product.
B) functional product.
C) augmented product.
D) potential product.
E) commodity thinking.

Answer 1

D

Question 2

Starbucks' logo and website are examples of its

A) core product.
B) functional product.
C) augmented product.
D) potential product.
E) public relations product.

Answer 2

C

Question 3

Everything the customer experiences from the company's offering, including a tangible good, service, person, company, and idea is known as a

A) brand.
B) concept.
C) offering.
D) service.
E) product.

Answer 3

E

Question 4

The customer orders, short production runs, and on-site advice that D-Base Transformers Inc. can offer high-end audio equipment manufacturers is

A) the potential product.
B) the functional product.
C) the core product.
D) the augmented product.
E) its products' attributes.

Question 5

The set of associations the marketing strategist wants to create or maintain in the minds of customers is known as the

A) brand identity.
B) product life cycle.
C) customer segmentation strategy.
D) product concept.
E) functional strategy.

Question 6

Businesses that adopt a tactical view of brand building

A) develop true innovations.
B) create customer value.
C) make minor changes to existing product offerings.
D) create a brand identity.
E) refresh the brand.

Question 7

The material D-Base Transformers Inc. uses to make the transformer is

A) the potential product.
B) the functional product.
C) the core product.
D) the augmented product.
E) a product addition.

Question 8

Introduction, growth, maturity, and decline are all stages of the

A) brand-building process.
B) sales execution strategy.
C) research process.
D) brand association process.
E) product life cycle.

Question 9

An option that is attractively different from other options in the category is known as a

A) brand.
B) concept.
C) offering.
D) service.
E) product.

Question 10

The potential product is

A) product features or attributes.
B) how the product functions or performs.
C) all the product add-ons.
D) a new technology that has not yet been invented.
E) the "true" solution the customer seeks.

Question 11

To build a strong brand, focus on the potential product and not the

A) core product.
B) functional product.
C) augmented product.
D) "true" solution the customer seeks.
E) customer warranty.

Question 12

In order to set yourself apart from your competitors, you have to think of products from the

A) competitor's viewpoint.
B) salesperson's viewpoint.
C) customer's viewpoint.
D) retailer's viewpoint.
E) delivery service's viewpoint.

Question 13

The friendliness of Starbucks' staff and their speed of service are examples of its

A) core product.
B) functional product.
C) augmented product.
D) potential product.
E) "true" customer solution.

Question 14

One of the steps in the brand-building process is

A) focusing on the core product.
B) focusing on product attributes.
C) creating a brand identity.
D) executing a sales strategy.
E) developing a pricing strategy.

Question 15

D-Base Transformers Inc. learned that customers do not buy product features or attributes; they buy

A) the core product.
B) the functional product.
C) the augmented product.
D) the potential product.
E) the product warranty.

Question 16

Eliminating worries about delays in construction is how Cemex provided its customers with its

A) core product.
B) functional product.
C) augmented product.
D) potential product.
E) customer warranty.

Question 17

Starbucks' friendly staff and speed of service are examples of its

A) core product.
B) functional product.
C) augmented product.
D) potential product.
E) service offering.

Question 18

Nike's athletic shoes provide its customers with the ability to be their best, regardless of what level of athlete they are. This is an example of its

A) core product.
B) functional product.
C) augmented product.
D) potential product.
E) product attributes.

Question 19

The strategic definition of a product is

A) a tangible good.
B) a service.
C) an item on the order form.
D) the totality of the customer's experiences.
E) what a company makes in a factory.

Question 20

By making technology fun and easily accessible to the ordinary consumer, Apple has seen its brand value jump

A) 5%.
B) 10%.
C) 16%.
D) 21%.
E) 30%.

Question 21

One of the benefits of building a strong brand with high brand equity is

A) smaller margins.
B) a narrower distribution channel.
C) decreased customer loyalty.
D) brand extension opportunities.
E) increased vulnerability to competitive actions.

Question 22

Measuring brand image to learn from actual associations customers have formed of the brand is referred to as

A) customer satisfaction measurement.
B) brand awareness measurement.
C) brand loyalty measurement.
D) brand equity measurement.
E) brand image measurement.

Question 23

The diagnosis from measuring brand equity leads to

A) refreshing the brand.
B) conducting product research.
C) developing a pricing strategy.
D) changing the channel strategy.
E) introducing new products.

Question 24

An important component of brand equity is

A) product cost.
B) the channel.
C) brand awareness.
D) marketing communications.
E) the functional product.

Question 25

Companies that diversify by adding more brands and businesses to portfolios can have a negative impact on

A) corporate culture.
B) profitability.
C) research and development.
D) diseconomies of scale.
E) the core product.

Question 26

The equity in the brand resides

A) in the brand itself.
B) in the mind of the customer.
C) in the advertising strategy.
D) in brand awareness.
E) in brand extensions.

Question 27

The set of brand associations actually received in the marketplace is known as the

A) brand identity.
B) brand image.
C) functional product.
D) augmented product.
E) potential product.

Question 28

WestJet's focus on a unique customer experience, from buying a ticket to taking a flight, is an example of

A) platform innovation.
B) value capture innovation.
C) customer experience innovation.
D) presence innovation.
E) supply chain innovation.

Question 29

Brand equity is measured on

A) brand awareness, brand associations, and brand loyalty.
B) elements of the marketing mix.
C) the brand's emotional connection with customers.
D) the functional and augmented product.
E) the functional and potential product.

Question 30

Apple's move to get music companies to agree to sell their music online is an example of

A) platform innovation.
B) value capture innovation.
C) brand innovation.
D) networking innovation.
E) business model innovation.

Question 31

Building a strong brand

A) starts with innovation.
B) ends with business definition.
C) requires a focus on the core product.
D) is a process.
E) is an act.

Question 32

Successful brand identity implementation requires a strategist to

A) conduct audience research.
B) define product attributes.
C) focus on the channel.
D) use all elements of the marketing mix.
E) gain control over brand image.

Question 33

Companies should not use too many metrics to evaluation innovation efforts. A good number is

A) between 2 and 3.
B) between 4 and 6.
C) between 8 and 12.
D) between 13 and 15.
E) between 15 and 20.

Question 34

The world's best innovators know that _________ determines the culture of an organization.

A) the sales force
B) the customer
C) the marketing strategists
D) the CEO
E) the research and development team

Question 35

Disney's extension of its brand to films, television programs, hotels, and stores provides an example of how Disney

A) defined its business.
B) created brand identity.
C) implemented brand identity.
D) measured brand equity.
E) refreshed the brand.

Question 36

While brand identity is strategic, brand image is

A) focused on the product strategy.
B) focused on the pricing strategy.
C) reliant on the channel strategy.
D) based on the marketing communications strategy.
E) what actually is achieved in the marketplace.

Question 37

The two types of brand associations that we need to measure are

A) awareness and image.
B) positioning and repositioning.
C) functional and augmented.
D) functional and potential.
E) objective and subjective.

Question 38

Samsung is fighting a weak brand perception by

A) making minor changes to product offerings.
B) focusing on the core product.
C) focusing on the functional product.
D) becoming a manufacturer of cheap knock-offs.
E) developing an emotional connection with customers.

Question 39

Brand associations provide the foundation of

A) the core product.
B) the functional product.
C) the augmented product.
D) brand awareness.
E) brand loyalty.

Question 40

A brand's identity is responsible for

A) the core product attributes.
B) product growth
C) product maturity.
D) refreshing the brand.
E) a customer's behaviour toward the brand.

Question 41

A brand without a clear and strong identity is like a ship without a rudder.

Question 42

Brand identity is the set of brand associations the marketing strategist wants to create or maintain in the minds of the customers.

Question 43

Developing the Hush! Floor, a flooring system guaranteed to never squeak, demonstrates how Arbol focused on

A) core product features.
B) how the product functions.
C) additions to the basic product.
D) the "true" solution the customer was seeking.
E) the materials used in making the floor.

Question 44

Customers do not buy product features or attributes; they buy the potential product.

Question 45

In order to manage brand portfolios strategically, a company must start with

A) a single, overall identity to fit all of its brands.
B) a single, overall objective for all of its brands.
C) a separate portfolio manager for each brand.
D) the mindset of a North American company.
E) a deep understanding of customer needs in the product category.

Question 46

In order to differentiate its offering and to build a brand, Arbol Industries focused on

A) the core product.
B) the functional product.
C) the augmented product.
D) the potential product.
E) product research and development.

Question 47

The Starbucks' logo and its website are examples of the company's core product.

Question 48

Marketing strategists have control over the set of brand associations actually received in the marketplace.

Question 49

A product is the totality of the customer's experiences.

Question 50

Procter & Gamble made its brand portfolio much tighter by

A) holding on to old brands that did not fit with the overall portfolio.
B) eliminating overlap by pruning brands.
C) reducing the number of categories.
D) expanding gaps in the portfolio.
E) merging categories.

Question 51

The brand-building process starts with creating a brand identity and ends with measuring brand equity.

Question 52

In order to set yourself apart from your competitors, you have to think of products from your competitors' point of view.

Question 53

Brand equity is measured on two dimensions: brand awareness and brand associations.

Question 54

McDonald's functional product is its corporate and social responsibility efforts.

Question 55

By definition, a potential product is the "true" solution the customer seeks from the basic product.

Question 56

While brand identity is strategic, brand image is what actually is achieved in the marketplace.

Question 57

Too many similar brands can

A) erode brand loyalty.
B) increase profitability.
C) lead to economies of scale.
D) build brand awareness.
E) reduce operational complexity.

Question 58

"Products" are synonymous with "goods."

Question 59

The equity in the brand resides in the brand itself, not in the mind of the customer.

Question 60

A brand is a differentiated offering in the marketplace.

Question 61

Using McDonald's as an example, explain how different brand associations weigh differently with different customer segments.

Question 62

An explosion of brands makes it harder to define customer segments and position objectives consistently.

Question 63

Organizational silos between functional units in an organization hamper new product development efforts.

Question 64

Too many similar brands confuse customers and erode brand loyalty.

Question 65

List at least three lessons learned about managing brand portfolios strategically.

Question 66

Explain why a company must focus on the potential product to build a successful brand.

Question 67

The term "innovation" should refer to "business innovation," not just product or technological innovation.

Question 68

What is the difference between brand identity and brand image?

Question 69

Procter & Gamble made its portfolio much tighter by adding new categories such as pet nutrition and care.

Question 70

List the steps in the brand-building process.

Question 71

To manage brand portfolios strategically, a company must establish goals for each brand.

Question 72

Define the term "brand identity."

Question 73

Companies should think of themselves as North American with international operations, rather than take the mindset of a truly global company.

Question 74

Arbol Industries was successful in differentiating its offering and building a brand because it focused on its core product.

Question 75

What dimensions of the brand does brand equity measure? Illustrate your answer by providing sample responses that might appear on a questionnaire.

Question 76

Smart companies know that they must manage their collection of brands as a strategic portfolio. Explain this statement.

Question 77

Companies should designate a portfolio manager to oversee the entire brand portfolio.

Question 78

It is hard to measure innovation efforts without at least 20 metrics.

Question 79

Using Starbucks as an example, explain the four levels of a product.

Question 80

What are three lessons that the world's best innovators offer on the science and art of innovation?