Question 1

Customers may view similar companies as interchangeable.

Accepted Answer

Customers often perceive similar companies as interchangeable, especially if they offer comparable products or services, leading to competition based on factors like price, convenience, or brand loyalty.

Question 2

Brands occasionally come along that are priced high but offer low quality.

Accepted Answer

Some brands may rely on marketing, brand reputation, or exclusivity to justify high prices, even if the quality of their products does not match the cost.

Question 3

Low prices always result in low profitability.

Accepted Answer

Low prices can lead to high sales volume, which can offset the lower profit margin per unit and result in high overall profitability.

Question 4

Positioning is about identity: who your brand or company is in the marketplace vis-à-vis the competition and in the customer's eyes.

Accepted Answer

Positioning involves defining how a brand or company is perceived in the marketplace relative to competitors and in the minds of customers, focusing on its unique identity and value proposition.

Question 5

With time, it's hard for a company to resist raising prices, or letting quality settle a little lower due to cost-cutting measures.

Accepted Answer

Companies often face increasing costs over time, such as inflation, labor, and materials, which can lead to price increases or quality reductions to maintain profitability.

Question 6

Customer segments shown on perceptual maps offer marketing managers information about what's going on in the marketplace.

Accepted Answer

Perceptual maps visually represent customer perceptions and preferences, helping marketing managers understand market positioning and identify opportunities or threats.

Question 7

A brand can reasonably be positioned as the "coolest" brand and the best value.

Accepted Answer

Positioning a brand as both the "coolest" and the "best value" can be challenging because "coolness" often implies exclusivity and trendiness, while "best value" suggests affordability and practicality. These attributes can conflict in consumer perception.

Question 8

Positioning involves two of the marketing mix variables.

Accepted Answer

Positioning involves all four marketing mix variables: product, price, place, and promotion, to create a specific image or identity in the minds of the target market.

Question 9

Just as consumers are demanding, wanting the very best of everything, companies can be equally irrational.

Accepted Answer

Companies, like consumers, can exhibit irrational behavior by making decisions that are not always based on logic or optimal outcomes, often influenced by market trends, competition, or internal biases.

Question 10

Alexis is in charge of designing a new product for her company.The research data she collected suggests the benefits to her target segment will be minimal.Based on this information, Alexis will have a difficult time positioning this new product.

Accepted Answer

If the benefits of the product to the target segment are minimal, it will be challenging for Alexis to create a compelling value proposition and differentiate the product in the market, making positioning difficult.

Question 11

Some perceptual maps contain descriptors for a single service provider.

Accepted Answer

Perceptual maps can be used to visualize the positioning of a single service provider by showing how it is perceived on various attributes or dimensions.

Question 12

One question always on the minds of marketers is, "Is my intended position the one that customers perceive?"

Accepted Answer

Marketers are concerned with ensuring that their brand's intended positioning aligns with customer perceptions to maintain brand integrity and effectiveness.

Question 13

Holes in perceptual maps identify areas of fierce competition among an industry's firms.

Accepted Answer

Holes in perceptual maps indicate gaps in the market where there may be unmet consumer needs or opportunities for new products, not areas of fierce competition.

Question 14

Perception is one of the 4 Ps.

Accepted Answer

The 4 Ps refer to Product, Price, Place, and Promotion in marketing, not Perception.

Question 15

Communication is one of the 5 Cs.

Accepted Answer

The answer of Communication is one of the 5 Cs....

Question 16

Positioning has more physical elements than perceptual ones.

Accepted Answer

Positioning primarily involves creating a specific perception of a product or brand in the consumer's mind, which is more about perception than physical attributes.

Question 17

On a perceptual map, brands depicted as points in the map close together are those perceived as similar.

Accepted Answer

Brands that are close together on a perceptual map are perceived as similar by consumers in terms of the attributes being measured.

Question 18

Positioning is about designing a product to have benefits that the target segment will value.

Accepted Answer

Positioning involves creating a product image and identity that resonates with the target market's needs and preferences, emphasizing benefits they find valuable.

Question 19

Customer intimacy is a basic corporate strategy that creates value.

Accepted Answer

Customer intimacy is a strategy focused on creating value by tailoring products and services to meet the specific needs and preferences of individual customers, thereby fostering strong relationships and loyalty.

Question 20

Perceptual maps allow managers to see graphical depictions of where their brands are, and where their competitors are, in the minds of their customers.

Accepted Answer

Perceptual maps visually represent consumer perceptions of brands, showing how they compare to competitors based on various attributes.

Quiz 5: Positioning