Question 1

When a corporate name such as Sony is combined with a product brand name such as Walkman, the brand category is referred to as:

Accepted Answer

When a corporate name (Sony) is combined with a product brand name (Walkman), it is referred to as a tiered brand. This approach leverages the reputation of the corporate brand while promoting a specific product.

Question 2

Some consumers flaunt their wealth by buying expensive products and brands that others will notice-a behavior referred to as conspicuous consumption.

Accepted Answer

Conspicuous consumption refers to the behavior of buying expensive products and brands to display one's wealth and social status, which others can notice.

Question 3

In some developing countries, refrigerators have an important secondary purpose related to higher-order needs, which relates to:

Accepted Answer

In some developing countries, owning a refrigerator can signify prestige and social status. It can also be a symbol of economic success and provide a sense of self-respect for the owner.

Question 4

The world's 10 most valuable brands (2017) includes McDonald's restaurants.

Accepted Answer

The answer of The world's 10 most valuable brands (2017)...

Question 5

As quoted in the text, "People love the Uber product. They do not necessarily love the brand."

Accepted Answer

The text explicitly states that people love the Uber product but not necessarily the brand.

Question 6

The Intel Inside campaign promoting both the Intel Corporation and its Pentium-brand processors in conjunction with advertising for various brands of personal computers is an example of:

Accepted Answer

The Intel Inside campaign is an example of co-branding, which involves two or more brands coming together to create a new product or promotion. In this case, the Intel Corporation partnered with various personal computer brands to promote their Pentium-brand processors as the preferred choice for computer processors. The campaign promoted both the Intel brand and the individual computer brands, creating a mutually beneficial relationship.

Question 7

The benefits of strong brands include all of the following except:

Accepted Answer

Strong brands typically have more inelastic consumer response to price increases, meaning consumers may be willing to pay more for a product simply because it carries a strong brand name. This is not a benefit of having a strong brand, but rather a potential drawback in terms of consumer behavior.

Question 8

One of the benefits of strong brand equity is more elastic consumer response to price increases.

Accepted Answer

Strong brand equity typically leads to less elastic consumer response to price increases, meaning consumers are more willing to accept higher prices without reducing their purchase quantity.

Question 9

Which of the following is not one of the levels in the Asian version of Maslow's hierarchy?

Accepted Answer

The answer of Which of the following is not one...

Question 10

The "wave" that appears on red Coke cans and bottle labels is an example of a brand symbol.

Accepted Answer

The "wave" on Coke cans and bottle labels is a well-known brand symbol of Coca-Cola.

Question 11

The equity value of global megabrands such as Coca-Cola and Marlboro runs in the tens of billions of dollars.

Accepted Answer

The equity value of global megabrands such as Coca-Cola and Marlboro do in fact run in the tens of billions of dollars.

Question 12

The decision to transform a global product into a global brand is risky. For example, in the United Kingdom, Snickers may get confused with Knickers, the British slang for a woman's undergarment.

Accepted Answer

This statement is true. Snickers may face confusion with its name in the UK due to the similarity with the British slang for women's undergarment, Knickers. Therefore, transforming a global product into a global brand may have potential risks associated with cultural and linguistic differences.

Question 13

The Virgin brand is a global brand with several brand extensions.

Accepted Answer

The Virgin brand is indeed a global brand with numerous brand extensions including Virgin Atlantic, Virgin Mobile, Virgin Galactic, and more.

Question 14

In India, Vietnam, and other emerging markets, many people cannot afford flush toilets but buy cell phones as status symbols.

Accepted Answer

This is true. Flush toilets require significant infrastructure and maintenance costs, making them unaffordable for many people in emerging markets. However, cell phones have become more accessible and affordable and are often seen as a status symbol among these populations.

Question 15

What are brands, and what are their functions in global marketing? How do brands develop their image, identity, and equity? Are global products and global brands the same?

Accepted Answer

The answer of What are brands, and what are their...

Question 16

According to the top brand rankings, 2017, Microsoft is the world's most valuable brand.

Accepted Answer

According to the top brand rankings for 2017, Google is the world's most valuable brand with a brand value of $245.6 billion, followed by Apple ($234.7 billion) and Microsoft ($143.2 billion).

Question 17

Apple's retail stores reinforce the brand's hip, cool image.

Accepted Answer

Apple's retail stores are known for their modern design, use of technology, and highly trained staff, which all contribute to the brand's image as a trendy and stylish company.

Question 18

Comparing the traditional formulation of Maslow's hierarchy with the results of current research on the consumer needs and motivation in Asia, which of the following is correct?

Accepted Answer

Research indicates that while the basic physiological and safety needs (the lowest two levels) are universal, higher-level needs can vary significantly across cultures, including those in Asia compared to Western models proposed by Maslow.

Question 19

The Sony Walkman is an example of combination or tiered branding, whereby a corporate name is combined with the name of the product.

Accepted Answer

The statement is correct. The Sony Walkman is an example of combination or tiered branding.

Question 20

In the United States, the average Buick buyer is 61 years old, which stands in marked contrast to Volvo, whose average buyer is only 50.

Accepted Answer

The statement presents a comparison between the average age of Buick and Volvo buyers in the US, indicating that Buick's buyers are significantly older, with an average of 61 years old, while Volvo's buyers are relatively younger, with an average of 50 years old.

Quiz 10: Brand and Product Decisions in Global Marketing