Question 1

Which of the following is NOT a desirable quality for a brand name?

Accepted Answer

A long brand name can make it difficult for customers to remember and pronounce, which could ultimately harm the brand's recognition and success. It is important for a brand name to be concise and memorable.

Question 2

Which strategy involves weeding out weaker brands and focusing marketing dollars only on brands that can achieve the number-one or number-two market share positions in their categories?

Accepted Answer

This strategy is called the megabrand strategy, where companies focus on their strongest brands and eliminate weaker ones. The goal is to achieve the top one or two positions in the market, which can lead to greater efficiency in marketing and production.

Question 3

A ________ involves the use of a successful brand name to launch new or modified products in a new category.

Accepted Answer

A brand extension is when a successful brand name is used to launch new or modified products in a new category. This allows the brand to leverage its existing brand equity and customer loyalty to enter new markets. A line extension involves introducing new products within an existing product line, and a product line refers to a group of related products offered by a company. Private brands are owned by retailers and are not associated with a specific manufacturer or producer. A brand symbol is a graphical representation of a brand, such as a logo or icon.

Question 4

Mabel Lu is planning to buy a new washing machine.She notices that they come in numerous price ranges.She wants to make sure she gets the most for her money.This product is a(n)________ product.

Accepted Answer

A shopping product is a product that requires comparison shopping, as consumers will invest time and effort into gathering information and making comparisons before making a purchase decision. Since Mabel Lu is considering the price range and wants to make sure she gets the most for her money, a washing machine would be considered a shopping product.

Question 5

________ occurs when a company introduces additional items in a given product category under the same brand name,such as new flavors,forms,colors,ingredients,or package sizes.

Accepted Answer

A line extension refers to the introduction of additional items within a product category under the same brand name. This is different from a brand extension, which involves using an existing brand name to launch a new product category. Interactive marketing refers to the use of two-way communications between the company and the customer. Service variability and service intangibility refer to the unique characteristics of services as opposed to products.

Question 6

Which of the following is a potential drawback of multi-branding?

Accepted Answer

The answer of Which of the following is a potential...

Question 7

The strongest brands go beyond attributes or benefit positioning; they are positioned on ________.

Accepted Answer

Strong brands are built on a foundation of beliefs, values, and purpose that extends beyond the functional benefits of the product or service. These beliefs and values help to create an emotional connection with consumers, which make them more likely to have brand loyalty and advocate for the brand.

Question 8

________ is used when two established brand names of different companies are used on the same product.

Accepted Answer

Co-branding is the use of two established brand names on the same product. This strategy is often used to combine the strengths and reputations of both brands in order to create a new product with added value. It can also help brands reach new markets or target audiences. Examples of co-branding include partnerships like Nike and Apple or McDonald's and Coca-Cola.

Question 9

A company has four choices when it comes to developing brands.What is NOT one of those choices?

Accepted Answer

Width and depth extension is not a choice when it comes to developing brands.

Question 10

Although most manufacturers create their own _____ names,others market _______ brands.

Accepted Answer

The answer of Although most manufacturers create their own _____...

Question 11

When the Twin Six Cafe provides gourmet menu options to its customers,as well as impeccable service-which even allows customers to hand-select their own cuts of meat,________ is/are evident.

Accepted Answer

The Twin Six Cafe is providing a gourmet menu (actual product), impeccable service (augmented product), and the ability for customers to hand-select their own cuts of meat (core benefit). Therefore, all three components of the product (core benefit, actual product, and augmented product) are evident.

Question 12

Which of the following product offerings is intangible?

Accepted Answer

A limousine ride is intangible because it is a service, which cannot be physically touched or held.

Question 13

Major brand marketers often spend huge amounts on advertising to create brand ________ and to build preference and loyalty.

Accepted Answer

Brand awareness is a crucial component of building a successful brand, and one of the primary goals of advertising. It refers to the extent to which consumers are familiar with and recognize a particular brand. By building brand awareness, marketers hope to increase the likelihood that consumers will choose their brand over others. While the other options (extension, packaging, internal marketing, and networking) may be important in their own right, none of them specifically address the goal of creating brand awareness.

Question 14

For a fee,some companies ________ names or symbols previously created by other manufacturers,names of well-known celebrities,and/or characters from popular movies and books,any of which can provide an instant and proven brand name.

Accepted Answer

The act of using names or symbols previously created by others requires obtaining a license to legally do so.

Question 15

An increasing number of retailers and wholesalers have created their own ________,also called store brands.

Accepted Answer

Private brands, also known as store brands, are created by retailers and wholesalers.

Question 16

Which of the following is an advantage offered by co-branding?

Accepted Answer

Co-branding allows a company to expand its existing brand into a category it otherwise might have difficulty entering alone, which can lead to increased brand exposure and revenue.

Question 17

A Lamborghini automobile,for example,is a ______________ because buyers are usually willing to travel great distances to buy one.

Accepted Answer

A Lamborghini is a specialty product because it is a unique and high-end item that appeals to a specific target market. The buyers of a Lamborghini are willing to go to great lengths to obtain one, often traveling to different countries to purchase the car.

Question 18

While advertising campaigns can help to create name recognition,brand knowledge,and maybe even some brand preference,brands are not maintained by advertising but by ________.

Accepted Answer

Brands are not just maintained by advertising, but by the overall experience that customers have with the brand. This includes everything from the quality of the product or service, to customer service interactions, to packaging and design, and more. A positive brand experience helps to build customer loyalty and advocacy, which in turn can lead to increased sales and revenue. While advertising can certainly play a role in shaping the brand experience, it is only one piece of the puzzle.

Question 19

You have an upset stomach.Your spouse rushes to the corner convenience store for a bottle of Eno.This product is a(n)________ product.

Accepted Answer

Eno is a convenience product as it is readily available at a corner convenience store for immediate purchase to fulfill an urgent need.

Question 20

All of the following are a manufacturer's sponsorship options for a product EXCEPT ________.

Accepted Answer

The answer of All of the following are a manufacturer's...

Quiz 8: Products,Services,and Brands: Building Customer Value