Question 1

Woolworths Select products are an example of a ________.

Accepted Answer

Woolworths Select products are a private brand, which is a brand owned by the retailer itself and exclusive to their stores. They are not national brands, which are owned by large manufacturers and distributed across multiple retailers. They are also not support brands, sponsorship brands, or manufacturer's brands.

Question 2

A manager of a Holiday Inn said,'We have power and value in the market and people are willing to pay for it'.This manager is referring to ________.

Accepted Answer

The manager is referring to the brand equity of Holiday Inn, which is the added value that a brand name gives to a product or service. The manager believes that the brand is strong enough that people are willing to pay more for it, indicating a high level of brand equity.

Question 3

Some billboards advertise that a certain service station has clean restrooms with the idea that clean restrooms imply the entire operation is devoted to customer satisfaction.Advertising a clean restroom is one method used to manage the service characteristic of ________.

Accepted Answer

The answer of Some billboards advertise that a certain service...

Question 4

It is harder to judge ________ quality than product quality.

Accepted Answer

The answer of It is harder to judge ________ quality...

Question 5

Which of the following is NOT one of the four consumer perception dimensions used by ad agency Young & Rubicam to measure brand strength?

Accepted Answer

The four consumer perception dimensions used by Young & Rubicam to measure brand strength are brand differentiation, brand knowledge, brand esteem, and brand relevance. Brand valuation is not one of them.

Question 6

Which of the following is NOT a desirable quality for a brand name?

Accepted Answer

A long name may be difficult to remember and may not be distinctive. A desirable brand name should be easy to pronounce, recognize and remember, suggest something about the product, be translatable into foreign languages, and most importantly, be distinctive.

Question 7

The factor of ________ indicates that when considering services,there is no stored inventory.

Accepted Answer

The answer of The factor of ________ indicates that when...

Question 8

The total financial value of a brand is estimated through the process of brand ________.

Accepted Answer

The process of estimating the total financial value of a brand is known as brand valuation. This involves assessing the tangible and intangible assets of a brand and determining its overall worth in monetary terms. Brand differentiation refers to the unique features and characteristics that distinguish a brand from its competitors. Brand extensions are new products or services that are developed under an existing brand. Brand positioning refers to the way in which a brand is perceived in the minds of consumers. Brand equity is the value that a brand adds to a product or service beyond its functional benefits. While all of these concepts are important in brand management, brand valuation is the most relevant to the question at hand.

Question 9

The strongest brands go beyond attributes or benefit positioning;they are positioned on ________.

Accepted Answer

Strong beliefs and values. Strong brands are not just about the benefits or attributes of a product or service, but also about the beliefs and values that they embody. Brands that are able to connect with their target audience on a deeper level and align with their values are more likely to build a loyal customer base.

Question 10

The factor of ________ indicates that services lack a physical element.

Accepted Answer

The answer of The factor of ________ indicates that services...

Question 11

Which of the following is most likely to be seen as the major enduring asset of a company,outlasting the company's specific products and facilities?

Accepted Answer

Brands are often seen as the major enduring asset of a company as they outlast the company's specific products and facilities. Brands are built over time through consistent quality, marketing, and customer experience, and can continue to generate value and revenue for a company even if the specific products or facilities change over time. Examples of enduring brands include Coca-Cola, McDonald's, and Nike.

Question 12

You have just flown first-class from Auckland to Sydney.Last month you flew economy-class on the same route.When evaluating the quality of service you received on both flights,you admit that you preferred the economy-class flight.List and describe three possible factors that may have led to that variability.

Accepted Answer

The answer of You have just flown first-class from Auckland...

Question 13

The fundamental asset underlying brand equity is ________- the value of the customer relationships that the brand creates.A powerful brand is important,but what it really represents is a set of loyal consumers.

Accepted Answer

Customer equity refers to the value of customer relationships that a brand creates. This includes the loyalty, trust, and satisfaction that customers have with a brand, which can ultimately lead to increased revenue and profits. Building strong customer equity is essential for creating a successful and sustainable brand.

Question 14

Good service recovery can turn angry customers into loyal customers and can even win more customer purchasing and loyalty than if no problem had occurred in the first place.

Accepted Answer

Good service recovery can address a customer's concerns and provide a positive experience, leading to increased customer satisfaction and loyalty. It shows that the company values the customer's business and is willing to make things right, which can ultimately result in increased sales and customer retention.

Question 15

Service productivity can be managed by increasing the quantity of service and giving up some quality.

Accepted Answer

Service productivity can be managed by balancing the quantity of service provided with the quality of service. Increasing the quantity of service might sometimes require a compromise on quality to manage resources efficiently and meet higher demand.

Question 16

John West brand tuna sells more than the same size competitive brand tuna,even though the other tuna costs $0.15 less per can.John West has high brand ________.

Accepted Answer

Brand equity refers to the value a brand name brings to a company, which includes customer recognition, loyalty, trust, and perceived quality. In this case, John West has a high brand equity because consumers are willing to pay more for its product despite the lower cost of the competing brand.

Question 17

Physical goods are produced,then stored,later sold and still later consumed.In contrast,services are first sold,then ________ and ________ at the same time.

Accepted Answer

The answer of Physical goods are produced,then stored,later sold and...

Question 18

The fact that services are produced and consumed simultaneously is an example of ________.

Accepted Answer

The answer of The fact that services are produced and...

Question 19

Which of the following is the lowest level on which marketers can position their brands in target customers' minds?

Accepted Answer

Product attributes refer to the physical and tangible characteristics of a product, such as quality, size, color, and features. This is considered the lowest level of brand positioning because it is the most basic and functional way to differentiate a brand from its competitors. Marketers can choose to focus on specific product attributes and highlight them in their advertising and messaging to appeal to target customers.

Question 20

Many people today do not understand dining-out etiquette-that is,which piece of cutlery to use in a multiple course banquet,how to eat special foods such as whole fish or strawberries,or how to butter a dinner roll.To provide this etiquette knowledge for business professionals,many companies are hiring a service that offers short,one-day courses in table etiquette.Use the four characteristics of service to describe this service and provide one method that can be used to reduce the problems associated with each characteristic.

Accepted Answer

The answer of Many people today do not understand dining-out...

Quiz 7: Products, services and Brands: Offering Customer Value