Question 1

The less-for-much-less positioning involves meeting consumers' requirements for ________.
A) moderate quality at a higher price
B) lower quality for a lower price
C) lower quality at a higher price
D) higher quality at a discounted rate
E) higher quality at the lowest possible price

Accepted Answer

The less-for-much-less positioning is defined as offering lower quality products at a lower price point. This strategy is aimed at meeting the needs of consumers who are looking for budget-friendly options rather than premium quality products. Option B correctly describes this positioning approach, hence representing the best choice. The other options do not align with the less-for-much-less strategy. Option A describes a moderate quality at a higher price, which is not what the less-for-much-less positioning is about. Option C describes a higher price point, which is not in line with the low-cost positioning. Option D describes higher quality products at a discounted rate, which is not the same as lower quality products with reduced prices. Option E describes the lowest possible price, which may not be feasible for businesses to sustain while maintaining profitability.

Question 2

Which of the following types of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage,expertise,and performance?
A) services differentiation
B) channel differentiation
C) people differentiation
D) product differentiation
E) price differentiation

Accepted Answer

Channel differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage, expertise, and performance. This involves creating a unique distribution strategy that provides customers with greater convenience or access to the product, such as faster delivery methods, wider geographic coverage, or more knowledgeable sales staff. By offering superior distribution capabilities, firms can differentiate themselves from competitors and appeal to customers who value convenience or reliability in the buying process.

Question 3

Which of the following includes the target segment of a product,the category to which the product belongs,and the product's point of difference from other members in the category?
A) mission statement
B) vision statement
C) profit statement
D) positioning statement
E) inventory statement

Accepted Answer

A positioning statement includes the target segment, category, and point of difference of a product or brand.

Question 4

Which of the following is true of product positioning?
A) A product's position is defined by the number of competitors in a market.
B) Product positioning has little influence on the design of marketing mixes.
C) Consumers generally reevaluate products every time they make a buying decision.
D) To simplify the buying process, consumers are likely to position products in their minds.
E) Consumers cannot position products without the help of marketers.

Accepted Answer

Product positioning refers to how consumers perceive a product in relation to other products in the market. To simplify the buying process, consumers are likely to position products in their minds. This helps them make buying decisions more quickly and easily. A product's position is not solely defined by the number of competitors in a market and product positioning can greatly influence the design of marketing mixes. Consumers may reevaluate products, but this is not always the case. While marketers can influence product positioning, consumers are also capable of positioning products on their own.

Question 5

Which of the following is true of perceptual positioning maps?
A) They are used by marketers to divide a market into smaller groups with distinct characteristics.
B) They are used by marketers to identify supplier and retailer perceptions of a product.
C) They are used to analyze consumer perceptions of a brand versus competing products.
D) They are used to divide buyers into groups based on their perceived income and age.
E) They are used to plot the geographic segments that a company needs to target.

Accepted Answer

Perceptual positioning maps are used by marketers to analyze consumer perceptions of a brand versus competing products. The map helps to identify the positioning of products in terms of the key attributes that consumers consider important. It helps marketers to understand how their brand or product is perceived by consumers and helps them to develop marketing strategies to improve the positioning. Option A is incorrect because perceptual maps are not used to divide a market into smaller groups, but instead to understand perceptions of a brand or product. Option B is incorrect because perceptual maps are not used to identify supplier and retailer perceptions. Option D is incorrect because perceptual maps are not used to divide buyers based on income and age. Option E is incorrect because perceptual maps are not used to plot geographic segments, but instead are used to understand consumer perceptions.

Question 6

Stores offering low-quality alternatives to luxury products at low prices most likely follow a ________ positioning strategy.
A) more-for-the-same
B) more-for-less
C) same-for-less
D) less-for-much-less
E) more-for-more

Accepted Answer

Stores that offer low-quality alternatives to luxury products at low prices are adopting a "less-for-much-less" positioning strategy. This approach means they provide products that are less expensive and of lower quality compared to high-end or luxury alternatives, targeting consumers who are willing to accept a decrease in quality for a significant reduction in price.

Question 7

Household Storez,a local retail store,claims to offer better products at lower prices than other retail stores.In this case,the firm's positioning reflects a ________ value proposition.
A) more-for-the same
B) more-for-less
C) same-for-less
D) more-for-more
E) same-for-more

Accepted Answer

The positioning of Household Storez reflects a "more-for-less" value proposition, as they claim to offer better products at lower prices than other retail stores. This means they are providing more value (better products) for less cost, which aligns with a "more-for-less" proposition.

Question 8

Through ________,brands can be differentiated on features,performance,or style and design.
A) people differentiation
B) channel differentiation
C) price differentiation
D) services differentiation
E) product differentiation

Accepted Answer

Product differentiation refers to the creation of a unique product that sets a brand apart from its competitors. This can be achieved through features, performance, style, design, or any other aspect of the product that distinguishes it from similar products in the market.

Question 9

Company and brand positioning should be summed up in a ________.
A) mission statement
B) vision statement
C) profit statement
D) positioning statement
E) corporate statement

Accepted Answer

The most accurate description of company and brand positioning is a positioning statement. This statement outlines the unique value proposition of the brand and its place in the market or industry. A mission statement outlines the company's purpose, while a vision statement describes the company's aspirations for the future. A profit statement reflects financial performance. A corporate statement may encompass multiple elements of the company, but may not specifically address the brand's position in the market.

Question 10

Companies are likely to gain ________ through speedy,convenient,or careful delivery of products.
A) price differentiation
B) product differentiation
C) channel differentiation
D) services differentiation
E) people differentiation

Accepted Answer

The answer of Companies are likely to gain ________ through...

Question 11

Which of the following strategies is most likely to be followed by firms that position themselves as caterers of the best products at economical prices?
A) more for the same
B) more for less
C) same for less
D) more for more
E) less for much less

Accepted Answer

The "more-for-less" positioning strategy is most likely to be followed by firms aiming to offer the best products at economical prices, as it suggests providing more value or quality for a lower price, appealing to consumers seeking both quality and affordability.

Question 12

Rad,a manufacturer of luxury watches,charges a higher price for its products than its competitors.Despite the high prices,the brand is popular among customers for its quality and service in comparison to cheaper alternatives available in the market.In this case,Rad offers a(n)________ value proposition.
A) more-for-more
B) more-for-the-same
C) more-for-less
D) all-or-nothing
E) same-for-less

Accepted Answer

Rad charges a higher price for its luxury watches but delivers quality and service that is superior to its competitors. This is a classic example of a more-for-more value proposition, where customers are willing to pay more for better quality and service.

Question 13

Customers recognize the products of Breads & Butters,a coffee shop,by identifying the "twisted bread" logo that helped the firm revolutionize its products.In this case,the firm has differentiated itself through its ________.
A) image
B) people
C) services
D) channels
E) positioning

Accepted Answer

The "twisted bread" logo represents the image of the company, which is used to differentiate its products from competitors.

Question 14

A brand difference is said to be preemptive if ________.
A) competitors cannot easily copy the difference
B) buyers can afford to pay for the difference
C) the difference can be introduced profitably
D) the difference is communicable
E) the difference is beneficial to customers

Accepted Answer

A preemptive brand difference is one that competitors cannot easily copy or imitate, giving the brand a sustainable advantage in the market. The other options may contribute to brand success, but do not specifically define a preemptive difference.

Question 15

Estel,a kitchen-cabinet manufacturer,positions its cabinets as furniture with superior craftsmanship and durability.This is an example of ________ differentiation.
A) product
B) services
C) image
D) people
E) channels

Accepted Answer

Estel is differentiating its product by positioning its cabinets as furniture with superior craftsmanship and durability. This is an example of product differentiation, as it emphasizes the characteristics and features of the product itself.

Question 16

Argonaut Food Stores,a retail giant,hires better-skilled employees than its competitors by employing strategic recruitment practices.It also conducts highly specialized training programs for its employees.In this case,Argonaut has focused on gaining a strong competitive advantage through ________ differentiation.
A) image
B) people
C) services
D) product
E) channel

Accepted Answer

Argonaut is gaining a competitive advantage through its human resources or people differentiation. By hiring skilled employees and providing specialized training programs, it aims to have a workforce that is superior to its competitors.

Question 17

Zeal is a popular automobile brand,and its positioning statement reads as follows: "For upscale American families who require large vehicles,Zeal is the automobile of choice." Which of the following mandatory elements is missing from the positioning statement?
A) point of difference
B) target audience
C) brand name
D) product category
E) need

Accepted Answer

The positioning statement lacks a clear point of difference, which is essential to distinguish Zeal from its competitors.

Question 18

When firms use symbols,colors,or characters to convey their personalities,they are using ________ differentiation.
A) image
B) people
C) usage-rate
D) user-status
E) channel

Accepted Answer

Image differentiation refers to firms using symbols, colors, or characters to convey their personality and create a unique image for their brand.

Question 19

Using a(n)________ positioning strategy,companies can attack the more-for-more strategy of another firm by offering a brand of comparable quality at a lower price.
A) more-for-the-same
B) more-for-less
C) the-same-for-less
D) less-for-much-less
E) less-for-more

Accepted Answer

The answer of Using a(n)________ positioning strategy,companies can attack the...

Question 20

Which positioning strategy offers value for consumers by providing the same brands as competitors at a lower price?
A) more for the same
B) more for less
C) the same for less
D) less for much less
E) more for more

Accepted Answer

The positioning strategy that offers value for consumers by providing the same brands as competitors at a lower price is "the same for less." This strategy focuses on providing comparable products or services at a lower price point than competitors. This can be an effective way to appeal to price-conscious consumers who are looking for value but don't want to sacrifice quality or brand recognition.

Quiz 6: Customer-Driven Marketing Strategy: Creating Value for Target Customers

The less-for-much-less positioning involves meeting consumers' requirements for ________.

Which of the following types of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage,expertise,and performance?

Which of the following includes the target segment of a product,the category to which the product belongs,and the product's point of difference from other members in the category?

Which of the following is true of product positioning?

Which of the following is true of perceptual positioning maps?

Stores offering low-quality alternatives to luxury products at low prices most likely follow a ________ positioning strategy.

Household Storez,a local retail store,claims to offer better products at lower prices than other retail stores.In this case,the firm's positioning reflects a ________ value proposition.

Through ________,brands can be differentiated on features,performance,or style and design.

Company and brand positioning should be summed up in a ________.

Companies are likely to gain ________ through speedy,convenient,or careful delivery of products.

Which of the following strategies is most likely to be followed by firms that position themselves as caterers of the best products at economical prices?

Customers recognize the products of Breads & Butters,a coffee shop,by identifying the "twisted bread" logo that helped the firm revolutionize its products.In this case,the firm has differentiated itself through its ________.

A brand difference is said to be preemptive if ________.

Estel,a kitchen-cabinet manufacturer,positions its cabinets as furniture with superior craftsmanship and durability.This is an example of ________ differentiation.

Zeal is a popular automobile brand,and its positioning statement reads as follows: "For upscale American families who require large vehicles,Zeal is the automobile of choice." Which of the following mandatory elements is missing from the positioning statement?

When firms use symbols,colors,or characters to convey their personalities,they are using ________ differentiation.

Using a(n) ________ positioning strategy,companies can attack the more-for-more strategy of another firm by offering a brand of comparable quality at a lower price.

Which positioning strategy offers value for consumers by providing the same brands as competitors at a lower price?