Deck 6: Value Through Products and Brands

Question 1

During the decline stage of the product life cycle, a _______ strategic marketing objective is normally followed.

A)harvest
B)build
C)hold
D)maintain

Answer 1

A

Question 2

A "product", in terms of marketing, is which of the following?

A)A physical item that can be sold at or above cost
B)Anything that can be sold for a price
C)A tangible, physical product that can be sold at profit
D)Anything which is capable of satisfying customer needs

Answer 2

D

Question 3

Every product has a mix of tangible and _______ components.

A)intangible
B)physical
C)emotional
D)hedonic

Answer 3

A

Question 4

Brands have to power to affect consumers' _______. For example, in blind product testing, customers often fail to distinguish between competing brands, even though they may have a high level of loyalty to one brand.

A)perceptions
B)propositions
C)conventions
D)codes

Question 5

A "product" can be anything that has the capacity to satisfy customer needs by providing some form of benefit or value, whereas a(n) _______ distinguishes the offering of one company from those of others.

A)brand
B)good
C)service
D)experience

Question 6

In the growth stage of the product life cycle, the main brand objective is to _______.

A)create brand preference
B)exploit the brand
C)create product awareness
D)increase production capacity

Question 7

Sellotape has become synonymous with adhesive tape, ipod with MP3 players and hoover with vacuum cleaners. These are all examples of how some products are more commonly known by the _______ name rather than the product name.

A)brand
B)class
C)home
D)code

Question 8

During the maturity stage of the product life cycle, the main strategic focus is on _______.

A)expanding the market
B)penetrating the market
C)protecting market share
D)improving productivity

Question 9

Band-Aid, RoC, Benecol and Neutrogena are all part of Johnson and Johnson's________________?

A)Product range
B)Product group
C)Brand portfolio
D)All of the above

Question 10

In the introductory stage of the product life cycle, the main brand objective is to _______.

A)increase short term sales of the product
B)reduce promotional expenditure until the product takes off
C)create product awareness
D)increase production capacity

Question 11

Many leading brands operate in markets which present few opportunities and can be described as _______.

A)emerging
B)growing
C)mature
D)none of the above

Question 12

Which of the following accurately represents the levels of a product?

A)Core and actual
B)Core, actual and augmented
C)Actual and augmented
D)Core and augmented

Question 13

In the introductory stage of the product life cycle, the main strategic marketing objective is to _______.

A)build
B)hold
C)harvest
D)divest

Question 14

_______ differentiation occurs when organizations aim to compete on the basis of the product, such as its quality, its design, its features or its packaging.

A)Actual
B)Core
C)Augmented
D)Practical

Question 15

Some products are high on intangible components. These products are known as _______.

A)goods
B)services
C)merchandise
D)intangibles

Question 16

A "product" can be anything that has the capacity to satisfy customer needs by providing some form of benefit or _______.

A)profit
B)cost
C)cause
D)value

Question 17

Brands fulfill a very important function in distinguishing the product offerings of one company from those of others in a _______ environment.

A)relative
B)competitive
C)controlling
D)co-operative

Question 18

Branding has become an ever more important aspect of marketing due to the fact that the _______ differences between products are becoming fewer and fewer and the only element that differs one offering from another is the brand.

A)political
B)economic
C)technical
D)social

Question 19

If the "product" which is being marketing is a beneficial cause such as the reduction of obesity, alcohol and the promotion of human rights, this is known as _______ marketing.

A)mass
B)services
C)social
D)pure

Question 20

During the product life cycle, sales will eventually flatten as saturation occurs. This stage of the product life cycle is more commonly referred to as _______.

A)growth
B)maturity
C)introduction
D)decline

Question 21

A unique and augmented product is what marketers call the _______.

A)total product
B)positioning
C)service
D)brand

Question 22

A brand is created by _______.

A)continually investing in creative and innovative advertising campaigns
B)augmenting a core product with distinctive values that distinguish it from the competition
C)promoting a product as an exclusive and luxury item
D)designing a truly unique product that cannot be imitated by competitors

Question 23

Which of the following is a benefit of branding to consumers?

A)Communicates features and benefits
B)Reduces the risk in purchasing
C)Simplifies the purchase decision
D)All of the above are benefits of branding to consumers

Question 24

The strength of a brand's position in the marketplace is built upon six elements. Which of the following is not an element?

A)Brand heritage
B)Brand domain
C)Brand values
D)Brand loyalty

Question 25

Which of the following is not an advantage of branding?

A)Increased company value
B)Barrier to competition
C)Higher profits
D)Reduces costs

Question 26

Which of the following is a benefit of branding to organizations?

A)Increases company value
B)Acts as a barrier to competition
C)Acts as a base for brand extension
D)All of the above are benefits of branding to organizations

Question 27

The element that makes the brand distinctive from other competing brands such as symbols, features, images and relationships is referred to as which of the following?

A)Brand assets
B)Brand reflection
C)Brand association
D)Brand value

Question 28

The process by which companies distinguish their product offerings from the competition is called which of the following?

A)Marketing
B)Service Marketing
C)Branding
D)Advertising

Question 29

Which of the following does not form part of the augmented product?

A)Guarantees
B)Delivery
C)Features
D)Brand values

Question 30

How the brand relates to self-identity; how the customer perceives him/herself as a result of buying/using the brand is referred to as which of the following?

A)Brand reflection
B)Brand value
C)Brand personality
D)Brand assets

Question 31

The strength of a brand's position in the marketplace is built upon six elements: brand heritage, brand domain, brand values, brand assets, brand personality and brand _______.

A)reflection
B)association
C)liabilities
D)rejection

Question 32

A good brand name should:

A)Evoke positive associations
B)Be distinctive
C)Use numerals when emphasizing technology
D)All of the above

Question 33

The background to the brand and its culture and how it has achieved success or failure over its life is referred to as which of the following?

A)Brand heritage
B)Brand association
C)Brand assets
D)Brand domain

Question 34

A brand's target market, i.e. where it competes in the marketplace, is referred to as which of the following?

A)Brand background
B)Brand domain
C)Brand assets
D)Brand reflection

Question 35

Strong market-leading brands are rarely the cheapest brands and often charge _______ prices, which allow them to generate high profits.

A)value
B)loyalty
C)premium
D)differentiated

Question 36

Brands provide consumers with the opportunity for self-_______. Brands of clothing, music, cars, perfume etc. are powerful indicators of the consumer's personality type.

A)reduction
B)expression
C)repression
D)deduction

Question 37

Brands reduce the risks associated with purchase because consumers can trust the brands they choose based on past experience. These risks are functional risk, financial risk and _______ risk.

A)personal
B)competitive
C)social
D)design

Question 38

The character of the brand described in terms of other entities such as people, animals or objects is referred to as which of the following?

A)Brand clarity
B)Brand association
C)Brand personality
D)Brand assets

Question 39

Legal protection for a brand name, brand mark or trade character is provided through the registration of _______.

A)tidemarks
B)brandmarks
C)tradecodes
D)trademarks

Question 40

Strong brands can have positive effects on consumer perceptions and preferences and this in turn leads to brand _______, where satisfied customers continue to purchase a favoured brand.

A)lethargy
B)loyalty
C)costs
D)differentiation

Question 41

Which of the following is an advantage of product-based co-branding?

A)Can capture multiple sources of brand equity
B)Can position a product for a particular target market
C)Can reduce the cost of product introductions
D)All are advantages of product-based co-branding

Question 42

Which of the following is an example of the use of combination brand names?

A)Daz
B)Kellogg's
C)Levi's
D)Sprite

Question 43

Brand extension is which of the following?

A)The concentrated targeting of new market segments
B)When an established brand name is used for brands in unrelated markets
C)A form of repositioning due to poor past sales and profit results
D)The use of an established brand name on a new brand within the same broad market

Question 44

Which of the following is an example of a family brand name?

A)Coca Cola
B)Dominos
C)Heinz
D)Andrex

Question 45

Brand stretching is which of the following?

A)The exploitation of untapped foreign markets
B)When an established brand name is used for brands in unrelated markets
C)Revitalizing a brand name with new and fresh advertising campaigns which prolong the life of a brand
D)The use of an established brand name on a new brand within the same broad market

Question 46

The General Electric (GE) matrix, assumes that market attractiveness is influenced by which factor?

A)Market size
B)Competitor strengths
C)Competitor weaknesses
D)All influence market attractiveness

Question 47

Which of the following is a potential pitfall of brand extensions?

A)Poor sales
B)Dissatisfaction
C)Cannibalization
D)Expense of launch

Question 48

Which of the following is a key consideration when choosing a brand name?

A)Be easy to pronounce and remember
B)Suggest product benefits
C)Not infringe an existing brand name
D)All are key considerations when choosing a brand name

Question 49

Linking two or more existing brands from different companies for a joint promotion is known as _______.

A)product-based co-branding
B)parallel co-branding
C)communications co-branding
D)global branding

Question 50

Which of the following is a disadvantage of using a family brand name?

A)There is risk is that if one of the brands receives unfavourable publicity or is unsuccessful, the reputation of the whole range of brands can be tarnished
B)Obtaining an effective positioning strategy is much slower than using an individual brand name
C)It is cheaper to use individual brand names, as creating a strong family brand name takes decades to achieve
D)The goodwill attached to the family brand name does not benefit all of the associated brands, and there is a weak association between the varying products

Question 51

The advantages of brand extensions include which of the following?

A)Consumers appear to attribute the quality associations they have of the original brand to the new one
B)It reduces risk and is less costly than alternative launch strategies
C)Advertising economies of scale can be achieved
D)All of the above are advantages of brand extensions

Question 52

The General Electric (GE) matrix, assesses the attractiveness of brands by considering which two factors?

A)Market attractiveness and competitive position
B)Competitor attractiveness and market position
C)Market share and relative market share
D)Product category and portfolio planning

Question 53

Brand _______ involves the use of an established brand name on a new brand within the same broad market.

A)image
B)equity
C)stretching
D)extension

Question 54

Which of the following is not a key consideration when choosing a brand name?

A)Use numerals when emphasizing technology
B)Be distinctive
C)Be generic
D)Evoke positive brand associations

Question 55

Which of the following is a benefit of global branding?

A)Reduces campaign costs
B)Generates global uniformity
C)Encourages consistency in approach globally
D)All are benefits of global branding

Question 56

Parallel co-branding occurs when two or more independent brands join forces to produce _______.

A)a manufacturer brand
B)a family brand
C)an individual brand
D)a combined brand

Question 57

Pan-European or global brands have which of the following advantages?

A)Standardized channels of distribution
B)Match various cultures
C)Reflects national differences
D)Tremendous economies of scale

Question 58

The depth of a product line refers to which of the following?

A)The total set of brands marketed in a company
B)The number of variants that is offered within the product line
C)The number of product lines that an organization offers
D)The product category

Question 59

A family brand name is used for which of the following?

A)All products
B)A single product
C)Selected products
D)None of the above

Question 60

Family brand names are sometimes referred to as which of the following?

A)Corporate brands
B)Linked brands
C)Umbrella brands
D)Pyramid brands

Question 61

The _______ of the product mix can be gauged by the number of product lines an organization offers.

A)width
B)depth
C)length
D)size

Question 62

Which of the following shapes best represent the classic product life cycle curve?

A)U - Shaped
B)Inverted U Shaped
C)W shaped
D)V shaped

Question 63

The General Electric (GE) matrix, assumes that competitive strength is influenced by which factor?

A)Exploitable marketing assets
B)Market size
C)Market age
D)None of these influence competitive strength

Question 64

The product _______ is a group of product that are closely related in terms of their functions and the benefits they provide.

A)mix
B)line
C)portfolio
D)group

Question 65

"Stars" have a good chance of becoming which of the following in the future:

A)Problem Children
B)Pigs
C)Cash Cows
D)Dogs

Question 66

The process of managing groups of brands and product lines is called which of the following?

A)Product Management
B)Market Management
C)Portfolio Planning
D)Segment Planning

Question 67

Which of the following is the correct order of the stages in the product life cycle?

A)Expansion, Introduction, Maturity, Decline
B)Growth, Expansion, Decline, Maturity
C)Introduction, Growth, Maturity, Decline
D)Introduction, Growth, Decline, Maturity

Question 68

For products that are classified as "cash cows", which of the following strategies is most appropriate?

A)Divest, which allows resources and managerial time to be focused elsewhere
B)Reposition the product into a defendable niche
C)Hold sales and market share
D)Harvest, to generate a positive cash flow for a time

Question 69

For products that are classified as "Problem Children", which of the following strategies is most appropriate?

A)To increase investment (build) to attempt to turn the problem child into a star
B)To withdraw support by harvesting (raising price while lowering marketing expenditure)
C)To divest (dropping or selling it).
D)All of the above are appropriate strategic objectives

Question 70

According to the BCG matrix, "Stars" are described as which of the following?

A)Brands with high profit margins
B)Brands with high growth in terms of share price and turnover
C)Brands with presently low levels of market share, however, are good prospects for rapid market share growth
D)Market leaders in high growth markets

Question 71

Which of the following is a weakness associated with BCG matrix?

A)Treating market growth rate as a proxy for market attractiveness, and market share as an indicator of competitive strength is over-simplistic.
B)The matrix ignores interdependencies between products
C)The matrix was based upon cash flow but perhaps profitability (e.g. return on investment) is a better criterion for allocating resources
D)All of the above are weakness attributed to the BCG matrix

Question 72

Which of the following is not a new product brand category?

A)Additions to existing lines
B)New products lines
C)New-to-the world products
D)Category development

Question 73

Companies will be monitoring the speed of product adoption and, if disappointing, they may terminate the product. At which stage may this termination occur?

A)Decline
B)Maturity
C)Growth
D)At any stage a product may be terminated

Question 74

According to the BCG matrix, poor products that compete in low growth markets are called which of the following?

A)Problem children
B)Cash cows
C)Pigs
D)Dogs

Question 75

Why is the Boston Consulting Group Growth-Share (BCG) Matrix used in marketing?

A)Helps in the analysis of estimating brand value
B)Helps highlight growth opportunities for market segments
C)Helps analyse future demographic trends
D)Helps companies to make product mix and/or product line decisions

Question 76

Why are Product Life Cycle stages used by marketers?

A)The stages highlight the various market segments that exist
B)Changes in market and competitive conditions between the PLC stages suggest that marketing strategies should be adapted to meet them
C)To highlight brands that either need further investment or to be made obsolete
D)These stages are used to focus and to adjust positioning strategies for these brands

Question 77

According to the BCG matrix, "Cash Cows" are described as which of the following?

A)Market leaders in high growth markets
B)Products with a high market share in low growth markets
C)Products that have absorbed large amounts of cash in their launch; however, little or no gains have been made in terms of market share
D)Weak products that compete in low growth markets

Question 78

The product life cycle is which of the following?

A)A product portfolio model, useful in determining future market share growth and market share
B)A useful tool for conceptualising the changes that may take place during the time that a product is on the market
C)A segmentation tool used to segment the marketplace, highlighting viable segments that are suitable for targeting
D)A market research tool, which analyses the usage of a product during its lifetime (e.g. length of usage, how many people have used the product etc.)

Question 79

The BCG matrix allows portfolios of products to be depicted on a 2 x 2 box, the axes of which are based on which of the following?

A)Share price and turnover
B)Relative market share and price positioning
C)Sales and profit margins per unit
D)Market growth rate and relative market share

Question 80

Which of the following is not a stage of the classic product life cycle?

A)Expansion
B)Maturity
C)Introduction
D)Decline