Question 1

The marketing mix variable that deals with what a consumer must give up in order to purchase a product or service is\

Accepted Answer

Price is the marketing mix variable that deals with what a consumer must give up in order to purchase a product or service. It refers to the amount of money that a company charges for its product or service, and it directly influences the customer's perception of value.

Question 2

Brand identity is best defined as

Accepted Answer

Brand identity refers to the combination of name, logo, symbols, design, packaging, and image associations held by consumers. It is the way a company presents itself to its customers and how customers perceive the company and its products.

Question 3

The meaning a consumer attributes to a product or brand and what he or she experiences in purchasing it is known as

Accepted Answer

The meaning a consumer attributes to a product or brand refers to product symbolism. It refers to the symbolic or emotional associations that a consumer makes with a product or brand.

Question 4

Jolly Green Giant, the Keebler elves, and Mr.Peanut are all examples of positioning by

Accepted Answer

Jolly Green Giant, the Keebler elves, and Mr. Peanut are all cultural symbols that have been used for positioning purposes in advertising and marketing. These characters are immediately recognizable and have become associated with their respective brands.

Question 5

Which of the following is true of brand equity?\

Accepted Answer

Brand equity is the value that a brand adds to a product or service through the goodwill and favorable impression associated with the brand in the minds of consumers. It is intangible and cannot be easily replicated or imitated by competitors. A strong brand equity can help a company to command premium prices for its products, attract new customers, and retain existing ones. It is not a tangible asset and does not allow the seller to hide product successes from its competition, use undifferentiated marketing, or stop all promotional activities and redirect funds to other areas of operation.

Question 6

Which of the following marketing-mix elements is best referred to as a bundle of benefits or values that satisfies the needs of consumers?

Accepted Answer

Product refers to a bundle of benefits or values that satisfies the needs of consumers through features, design, packaging, branding, and quality. Price is the amount customers pay for the product, promotion is how the company communicates the product's benefits to the target market, people refer to the employees who deliver the product and customer service, and process involves the methods and procedures used to deliver the product to customers.

Question 7

When Bauer Smith opened a men's shoe store, he decided to carry a full line of shoes in the larger, hard-to-find sizes.Today, his shoe store caters to professional basketball, baseball, and football players who often order a dozen pairs in a single visit.With respect to the positioning strategies, the shoe store uses positioning by

Accepted Answer

The shoe store is positioning itself based on the product user, as it caters specifically to professional basketball, baseball, and football players who may have a difficult time finding shoes in their larger sizes.

Question 8

Venus Corporation engaged in a multimillion-dollar campaign to alter its image among many of its customers.The company's customers had a perception that the company was simply a hardware manufacturer.Venus wants customers to see it as a services and technology provider.In this scenario, Venus is

Accepted Answer

Venus Corporation is using a repositioning strategy to change the perception of its customers from a hardware manufacturer to a services and technology provider. This involves altering their marketing mix and communication strategies to create a new brand image.

Question 9

Which of the following best defines brand equity?

Accepted Answer

Brand equity refers to the value that a brand possesses due to consumer perception and attachment to the brand name. It is an intangible asset that adds value to a company's reputation and product offerings. It is not related to modifying the product range, calculating customer types, conducting market research, or advertising methods.

Question 10

The use of comparative advertising has become increasingly more common.Which of the following positioning strategies does this reflect?

Accepted Answer

Comparative advertising is positioning by competitor, as it involves comparing a brand/product directly to its competitors to demonstrate its superior features or benefits.

Question 11

When travelers think of Gallivant Airlines, an Australian airline, the first thing that comes to their mind is the kangaroo.In the given scenario, the strong association between the kangaroo and Gallivant Airlines indicates that the airline is receiving the benefit of positioning by

Accepted Answer

The strong association between the kangaroo and Gallivant Airlines indicates that the airline is receiving the benefit of positioning by cultural symbol. The kangaroo is a cultural symbol of Australia, and the fact that travelers associate it with Gallivant Airlines indicates that the airline has successfully positioned itself as an Australian airline.

Question 12

Which of the following is true of repositioning?

Accepted Answer

Repositioning is aimed at stemming a decline in sales or countering stagnant sales. It involves making changes to the brand's existing position in the market in order to reinvigorate consumer interest and drive sales. The other options are incorrect: A is not true, as repositioning can occur in any market structure; B is not necessarily true, as repositioning may be pursued for different reasons; C is not true, as repositioning can be practiced in any economic situation; and D is not true, as repositioning involves making changes to the brand's existing position.

Question 13

Motor Corp., an automobile manufacturer, launched an ad campaign that stated, "We are yet to reach the industry leader's position, so we try harder." In this scenario, the company is positioning itself based on

Accepted Answer

The ad campaign positions the company based on competition, specifically stating that they are not yet an industry leader but are working harder to get there.

Question 14

Which of the following is true about packaging?

Accepted Answer

The statement that the package is often the consumer's first exposure to the product is true. Packaging is a crucial branding tool and can offer benefits like convenience, economy, and storage. It is also not true that the package is what the consumer must give up to purchase a product, as the package is included in the purchase. The package is expected to provide information about its contents, and not divulging such information can be illegal.

Question 15

Yummy Soups positioned itself as better tasting and more appropriate to the adult palate to gain an advantage over Magic Soups, another packaged soup manufacturer.In the given scenario, which of the following positioning strategies has Yummy Soups used?

Accepted Answer

Yummy Soups has positioned itself by emphasizing its superiority in taste and appropriateness for adult palates in comparison to Magic Soups, a competitor in the same product category of packaged soups. Therefore, Yummy Soups has used a competitor positioning strategy.

Question 16

Premium Sports Apparels came up with an ad for shorts that are specially designed for athletes.The ad, which was featured in a sports magazine, shows how these shorts do not shrink over time and are made of a light fabric that helps keep the wearer dry and cool.With respect to positioning strategies, the company is using positioning by

Accepted Answer

The company is positioning its shorts based on their benefits for athletes, indicating that they are targeted towards a specific group of people who engage in sports activities. This is an example of positioning by product user.

Question 17

Pluto Inc., a fruit juice manufacturer, launches an ad that contains the slogan, "Try our fruit juices and get the freshness of real fruit," to position itself against the category. In this scenario, Pluto Inc.is positioning its juices based on

Accepted Answer

Pluto Inc. is positioning its juices based on the product class by emphasizing the freshness and real fruit aspect, which distinguishes its juices within the broader category of fruit juices.

Question 18

Initially, Flash Parcel Service (FPS) built its advertising campaign around the slogan, "Our business quality speaks the language of speed." Back then, the company was trying to make the customers aware of the speed with which it delivers the service.Later, FPS modified its slogan and designed new ads to make customers aware of the different aspects of its delivery such as reliability, cost-efficiency, and punctuality.By moving away from promoting itself as simply a parcel delivery company, FPS has

Accepted Answer

By modifying its slogan and advertising to focus on different aspects of its delivery, FPS has used a repositioning strategy. This involves changing the way customers perceive the company and its offerings in the marketplace.

Question 19

Which of the following best defines branding?

Accepted Answer

Branding is the process of creating and maintaining a positive image and identity of a company and its products or services in the minds of the consumers. It involves various strategies such as creating a unique logo, tagline, packaging, and advertising to differentiate the brand from its competitors and create a strong brand personality. The ultimate goal of branding is to create customer loyalty and increase brand equity.

Question 20

Offerings, which may come in the form of a service, a cause, or even a person, represent which aspect of the marketing mix?

Accepted Answer

Offerings represent the product aspect of the marketing mix.

Quiz 2: The Role of IMC in the Marketing Process