Question 1

_____ is the additional market share and profits products earn because of the brand's strength compared with that of competing products.

Accepted Answer

Brand equity is the additional market share and profits products earn because of the brand's strength compared with that of competing products. It is a measure of the brand's overall value, which includes both tangible and intangible assets such as brand recognition, customer loyalty, and perceived quality. Brand equity allows companies to charge higher prices, expand into new markets, and launch successful brand extensions. Therefore, D is the correct answer.

Question 2

Rhombus Inc. ,a consumer electronics company,has a loyal customer base.Recent market surveys have shown that its products are perceived to be superior in quality to their competing products.This has boosted the sale and popularity of its products.In turn,Rhombus has gained additional market share and profits.Given this information,it can be said that Rhombus has been able to:

Accepted Answer

Rhombus Inc. has been able to build brand equity, as its products are perceived to be superior in quality to their competing products. This has boosted the sale and popularity of its products, in turn gaining additional market share and profits.

Question 3

According to the American Marketing Association,a _____ is the name,term,design,symbol,or any other feature that identifies one seller's goods or service as distinct from those of other sellers.

Accepted Answer

A brand is a unique identification symbol, name, logo or design of a company that distinguishes it from other companies.

Question 4

Zest is a brand of energy drinks produced by Enigma Inc. ,a beverage company.Enigma operates worldwide,and Zest is one of its largest global brands.Given this information,it can be said that:

Accepted Answer

The fact that Zest is one of Enigma's largest global brands indicates that Enigma is able to standardize its efforts to reach customers around the world. This suggests that Enigma has developed a consistent marketing strategy that works well across different markets.

Question 5

Troy Inc. ,a consumer goods company,recently launched Clean Bud-a new range of liquid and powder detergents for clothes.Given this information,it can be said that Clean Bud is Troy Inc.'s _____.

Accepted Answer

Clean Bud is a new range of liquid and powder detergents for clothes that has been launched by Troy Inc. Therefore, it can be inferred that Clean Bud is a brand of Troy Inc.

Question 6

Sapphire Works is a French luxury watchmaker.Its watches are perceived as high-end watches and are considered highly elegant and sophisticated.Sapphire's customers have deep positive feelings toward the label.Given this information,it can be said that Sapphire has a _____.

Accepted Answer

The description of Sapphire's watches as high-end, elegant and sophisticated and the deep positive feelings of customers towards the label all suggest that Sapphire has a strong brand image.

Question 7

Danielle has been using a perfume called Aroma manufactured by Iris Inc.since its launch.She also recommends it to her friends.This scenario illustrates Danielle's _____.

Accepted Answer

Danielle's consistent use of the Aroma perfume and her recommendation to friends shows her loyalty to the brand.

Question 8

_____ is a commitment to a brand in the face of competition.

Accepted Answer

Brand loyalty is the commitment of a consumer towards a particular brand. It is the result of consistent positive experiences with the brand, which leads to repeat purchases and a reluctance to switch to a competitor's brand. Brand identity refers to the perception of a brand by its target audience, while brand extension refers to the use of an established brand name to launch a new product category. Brand image refers to how a brand is perceived by the general public.

Question 9

Neptune Inc. ,a beverage company,makes use of unconventional,innovative,and low-cost marketing techniques to generate social buzz and maximum exposure.Given this information,it can be said that Neptune uses _____ to build awareness.

Accepted Answer

Guerilla marketing involves using unconventional and low-cost tactics to create social buzz and maximum exposure, which is exactly what Neptune Inc. is doing. Cloud marketing involves using online platforms and services to market products, while evangelism marketing involves creating loyal and enthusiastic customers who promote the product to others. Word-of-mouth marketing relies on customers spreading the word about the product, but it may not necessarily involve unconventional or innovative tactics. Therefore, D) guerilla marketing is the best choice for this scenario.

Question 10

If a smartphone manufacturing company uses a pull approach to build brand awareness,it is likely to:

Accepted Answer

A pull approach to building brand awareness involves creating demand for a product through marketing and advertising efforts, and growing customer desire and expectations for the product. This approach focuses on customer needs and seeks to create loyal customers who will continue to purchase the product. It does not involve charging different prices to subsidiaries, engaging in gray market activity, or relying on price-oriented promotions and discounts.

Question 11

A(n)_____ strategy gets customers excited about a product.

Accepted Answer

Pull marketing is a strategy that involves creating interest and demand for a product among potential customers. This is done through various tactics such as advertising, content marketing, and search engine optimization. By creating a buzz around a product and making it desirable, customers are more likely to seek it out and make a purchase, thus getting them excited about the product.

Question 12

Gibson Inc. ,an American apparel company,uses a rewards program for its customers who make frequent purchases.This marketing strategy can help the company:

Accepted Answer

The rewards program for frequent customers is aimed at instilling brand loyalty. This incentivizes customers to consistently choose Gibson Inc. over competitors, increasing the likelihood of repeat purchases and generating long-term revenue for the company. The other choices are not directly related to a rewards program for customers.

Question 13

Donavon Inc. ,a beverage company,designs social media posts to advertise its products.These posts are shared by people on different social media platforms,thus helping Donavon receive maximum exposure.Given this information,it can be said that Donavon uses _____.

Accepted Answer

Donavon is creating content that is designed to be shared and spread rapidly through social media, which is the essence of viral marketing.

Question 14

The advertising department at Fischer Tech plans to implement a push approach to build brand awareness.By implementing this approach,the department is likely to:

Accepted Answer

A push approach involves using promotions and discounts to push the product onto the consumer, which is indicative of a price-oriented approach. Charging different prices in global markets (A) and engaging in gray market activity (B) are not related to a push approach. While making entertaining advertising (C) may increase brand awareness, it is not necessarily related to a push approach.

Question 15

Magic Kingdom,a theme park in Memphis,has pictures of its rollercoasters on several public transportation vehicles in the city.This form of advertising has increased the popularity of Magic Kingdom and has led to a 25 percent increase in the number of visitors in the theme park.Given this information,it can be said that Magic Kingdom used _____.

Accepted Answer

The use of public transportation vehicles to display pictures of rollercoasters of Magic Kingdom is an example of guerilla marketing, which involves unconventional and low-cost tactics to gain maximum exposure and attract more customers. This form of advertising was aimed at creating a buzz and attracting people's attention without spending a lot of money on traditional advertising methods. The increase in the number of visitors by 25 percent suggests that this strategy was successful in achieving its objective.

Question 16

_____ is the set of associations in a customer's mind regarding a brand.

Accepted Answer

Brand image refers to the set of associations a customer has in their mind about a particular brand. It is the perception that consumers have towards the brand, and it plays a crucial role in the purchase decision-making process. The brand image can be influenced by various factors such as advertising, packaging, product quality, and customer service. It is important for a brand to maintain a positive brand image to attract and retain customers.

Question 17

Chynna Hotels,a fast-food restaurant chain,has restaurants in 25 countries worldwide.It customizes its menu and creates experiences that appeal to regional tastes.Chynna Hotels has been able to build a level of brand loyalty across borders that would not have been possible with a standard,homogenous menu.At the same time,the restaurant chain has been able to maintain a level of standardization and built an international image that transcends cultural barriers.Given this information,it can be said that Chynna Hotels has adopted a(n)_____.

Accepted Answer

Chynna Hotels has adopted a glocalization strategy by customizing its menu and experiences according to regional tastes while maintaining standardization and building an international image. This approach builds brand loyalty across borders and transcends cultural barriers.

Question 18

Beryl Inc.is a beverage company that has operations in 39 countries worldwide.It has adopted a glocalization strategy.Given this information,it can be said that:

Accepted Answer

Glocalization strategy means that the company adapts its products and marketing strategies to meet the local needs of different regions while maintaining a global brand image. Therefore, Beryl Inc. can make adjustments according to regional consumer needs.

Question 19

_____ consists of marketing efforts designed to actively send a product through the channel of distribution,starting with the producer,moving through the distribution partners,and finally reaching the consumer.

Accepted Answer

Push marketing focuses on getting a product in front of consumers by actively pushing it through the distribution channel, such as through advertising and trade promotions. In contrast, pull marketing aims to attract consumers to a product through tactics like social media advertising and search engine optimization. Inbound marketing refers to tactics that draw potential customers in, such as content marketing and social media engagement. Outbound marketing is a broader term that encompasses both push and pull marketing, but may also include things like cold calling and direct mail.

Question 20

Olive Inc. ,an apparel company,has recently started its operations in the United States.It extensively uses viral marketing for advertising and marketing.The use of viral marketing can help Olive:

Accepted Answer

Viral marketing is a type of marketing that spreads quickly through word-of-mouth or social media sharing. In this case, Olive Inc. can use viral marketing to spread awareness about their brand and products, which will ultimately help them build brand awareness. While viral marketing can potentially lower operation costs compared to traditional marketing methods, it is not its primary benefit. Customizing products and meeting customer needs are not directly related to viral marketing.

Quiz 17: Global Marketing