Question 1

Which of the following is one of three basic corporate strategies for creating value and achieving market stature?
A) operational excellence
B) development leadership
C) quality placement
D) customer innovation

Accepted Answer

Operational excellence is one of the three basic corporate strategies, along with product leadership and customer intimacy, for creating value and achieving market stature.

Question 2

Shannon is struggling to communicate who Company ABC is compared to the competition.Shannon wants to communicate that Company ABC's brand has the benefits that the target market will value.Shannon is engaged in what marketing activity?
A) segmenting
B) targeting
C) positioning
D) advertising

Accepted Answer

Positioning involves defining how a brand is different from competitors and communicating the benefits that are valued by the target market.

Question 3

Marketers and senior managers like to see graphical depictions of where their brands and their competitors' brands are in their customers' minds.What are these called?
A) histograms
B) perceptual maps
C) genograms
D) position charts

Accepted Answer

Perceptual maps are graphical representations of how customers perceive brands in terms of their attributes and benefits.

Question 4

Product leadership refers to companies that
A) are good at production, delivery, price, and convenience.
B) are expensive but expected to pay off in long-term loyalty and enhanced customer lifetime value.
C) pride themselves on quality and innovation.
D) are willing to tailor their products to particular customer needs.

Accepted Answer

Product leadership refers to companies that focus on quality and innovation, aiming to offer superior products that stand out in the market.

Question 5

Which of the following is NOT true according to this perceptual map? 
A) Customers view Lexus and Lincoln as the most interchangeable of the brands.
B) The Tesla and Prius are not competing with each other.
C) People in segment 1 prefer Tesla or Prius to Lincoln or Lexus.
D) People in segment 2 seek nice luxury at inexpensive prices.

Accepted Answer

The answer of Which of the following is NOT true...

Question 6

Which of the following positioning combinations makes the most sense?
A) low price, low quality, exclusive availability, heavy promotions
B) high price, low quality, exclusive availability, heavy promotions
C) low price, high quality, exclusive availability, light promotions
D) low price, low quality, widely available, heavy promotions

Accepted Answer

Low price and low quality products are typically widely available and heavily promoted to attract a large number of customers.

Question 7

Dom is reviewing a perceptual map that compares a number of jeans brands based on customer survey data.Five of the eight brands are depicted as points close together on the map.A logical conclusion Dom can draw from this perceptual map is
A) three brands are well positioned as being diverse from all other brands.
B) the five brands are viewed as most interchangeable by consumers.
C) the five brands identify a "hole" in the perceptual map.
D) consumers will most likely purchase more of the three brands not clustered together.

Accepted Answer

The five brands are viewed as most interchangeable by consumers because they are depicted as points close together on the map.

Question 8

Which of the following is one of the 5Cs?
A) ​communication
B) company
C) comprehension
D) ​commerce

Accepted Answer

The 5Cs in marketing refer to Company, Customers, Competitors, Collaborators, and Climate.

Question 9

Positioning involves which of the marketing mix variables?
A) price, promotion, product, place
B) price, promotion, product
C) price, place
D) promotion, product, place

Accepted Answer

Positioning involves all four marketing mix variables: price, promotion, product, and place, as it is about how a product is perceived in the market relative to competitors.

Question 10

Which of the following is NOT true based on this perceptual map? 
A) Paris and Rome are seen as places where there is lots to see and do, but they're relatively expensive.
B) Nassau and Tampa are perceived as beach trips that are relatively affordable.
C) The first customer segment is very well-served.
D) The second customer segment is seeking more to do on their holiday and is not concerned about price.

Accepted Answer

The answer of Which of the following is NOT true...

Question 11

Positioning is mostly about
A) identity.
B) physical elements.
C) targeting.
D) advertising.

Accepted Answer

Positioning is primarily about creating a distinct identity for a product or brand in the minds of the target audience, differentiating it from competitors.

Question 12

If a company promotes broadly and heavily, it is probably looking to
A) create a niche market.
B) offer low prices.
C) move a lot of merchandise.
D) distribute through selective channels.

Accepted Answer

Broad and heavy promotion is typically aimed at reaching a wide audience to increase sales volume and move a lot of merchandise.

Question 13

In analyzing perceptual maps, one question always on the marketer's mind is:
A) Is my brand optimally segmented?
B) Is my brand experiencing holes?
C) Is my brand targeted correctly?
D) Is my brand optimally positioned?

Accepted Answer

Marketers use perceptual maps to assess if their brand is optimally positioned in the minds of consumers relative to competitors, ensuring it occupies a desirable space in the market.

Question 14

Operational excellence refers to companies that
A) are good at production, delivery, price, and convenience.
B) pride themselves on quality and innovation.
C) are willing to tailor their products to particular customer needs.
D) are expensive but expected to pay off in long-term loyalty and enhanced customer lifetime value.

Accepted Answer

Operational excellence focuses on efficient production and delivery processes, competitive pricing, and convenience to achieve superior performance and customer satisfaction.

Question 15

If a brand has an exclusive image, it would make good sense to avoid
A) overly promoting it.
B) charging a premium price.
C) engaging in light promotion.
D) distributing it through selective channels.

Accepted Answer

Overly promoting an exclusive brand can dilute its perceived exclusivity and prestige, making it less desirable to its target market.

Question 16

Which of the following combinations should be avoided?
A) low price and low quality
B) high price and high quality
C) heavy promotion and low (exclusive) availability
D) heavy promotion and high availability

Accepted Answer

Heavy promotion and low availability can lead to customer frustration and damage brand reputation, as it creates demand that cannot be met.

Question 17

__________ in perceptual maps offer(s) intriguing possibilities for new market opportunities.
A) Brands
B) Holes
C) Targeting
D) Positioning

Accepted Answer

Holes in perceptual maps indicate gaps in the market where no current offerings exist, suggesting potential opportunities for new products or services.

Question 18

Brands depicted as points in the map close together are those perceived as
A) similar.
B) different.
C) expensive.
D) high-quality.

Accepted Answer

Brands depicted as points close together on a map are perceived as similar because they share similar attributes or characteristics in the eyes of consumers.

Question 19

A CEO is considering how he wants his company to be positioned.He has thought of it as the coolest brand and the brand with the best value.Which of the following is true about his predicament?
A) He can't position it as the coolest brand.
B) He can't position it as the brand with the best value.
C) He can probably achieve either of these goals, but not both.
D) He can achieve both of these goals.

Accepted Answer

Positioning a brand as the coolest often involves premium pricing and exclusivity, while positioning as the best value typically involves affordability and accessibility, making it challenging to achieve both simultaneously.

Question 20

Customer intimacy refers to companies that
A) pride themselves on quality and innovation.
B) are willing to tailor their products to particular customer needs.
C) target and position themselves high in the market.
D) are good at production, delivery, price, and convenience.

Accepted Answer

Customer intimacy involves tailoring products or services to meet the specific needs and preferences of individual customers, focusing on building strong customer relationships.

Quiz 5: Positioning

Which of the following is one of three basic corporate strategies for creating value and achieving market stature?

Shannon is struggling to communicate who Company ABC is compared to the competition.Shannon wants to communicate that Company ABC's brand has the benefits that the target market will value.Shannon is engaged in what marketing activity?

Marketers and senior managers like to see graphical depictions of where their brands and their competitors' brands are in their customers' minds.What are these called?

Product leadership refers to companies that

Which of the following is NOT true according to this perceptual map?

Which of the following positioning combinations makes the most sense?

Dom is reviewing a perceptual map that compares a number of jeans brands based on customer survey data.Five of the eight brands are depicted as points close together on the map.A logical conclusion Dom can draw from this perceptual map is

Which of the following is one of the 5Cs?

Positioning involves which of the marketing mix variables?

Which of the following is NOT true based on this perceptual map?

Positioning is mostly about

If a company promotes broadly and heavily, it is probably looking to

In analyzing perceptual maps, one question always on the marketer's mind is:

Operational excellence refers to companies that

If a brand has an exclusive image, it would make good sense to avoid

Which of the following combinations should be avoided?

__________ in perceptual maps offer(s) intriguing possibilities for new market opportunities.

Brands depicted as points in the map close together are those perceived as

A CEO is considering how he wants his company to be positioned.He has thought of it as the coolest brand and the brand with the best value.Which of the following is true about his predicament?

Customer intimacy refers to companies that