Question 1

Relatively few consumers like to go to the dentist.Dental insurance plans that pay for regular check ups increase the ________________ of dental care by reducing the cost to the consumer.

Accepted Answer

Dental insurance plans that pay for regular check ups reduce the perceived cost of dental care, making it more valuable and attractive to consumers. This may in turn increase their willingness to seek out and receive necessary dental care services.

Question 2

Salina is working to create greater brand awareness for her company's new line of personal digital assistants.To create greater brand awareness Salina will make sure that promotion features the brand:

Accepted Answer

All of these elements contribute to brand awareness, so Salina should utilize all of them in her promotion efforts. The brand name, logo, packaging, and slogan all help to represent the brand and make it more recognizable to potential customers.

Question 3

Sometimes brand names become synonymous with a product itself.If that happens,the firm:

Accepted Answer

If a brand name becomes synonymous with a product, it risks losing its trademark. This happens when the brand name becomes a generic term for the product, such as when "Kleenex" is used to refer to all facial tissues. The trademark owner must work to prevent this from happening by vigorously enforcing its rights, and educating the public about proper use of the brand name. Failure to do so can result in loss of the trademark. The other options are not necessarily relevant to this scenario.

Question 4

Laura prefers Sony products and will only purchase alternatives when there are no Sony products available.Laura's brand loyalty means she is:

Accepted Answer

The answer of Laura prefers Sony products and will only...

Question 5

If many consumers in the marketplace are familiar with a brand and what it stands for and have an opinion about the brand,the brand has considerable:

Accepted Answer

The answer of If many consumers in the marketplace are...

Question 6

Matt was passionate about Abercrombie & Fitch.It was the only place he'd buy his clothes.If anyone asked him about clothes,he would talk for what seemed like hours about why he only shopped there.From a strictly marketing perspective,this word of mouth is part of:

Accepted Answer

Matt's loyalty to Abercrombie & Fitch and his willingness to talk about the brand is an example of brand loyalty, which is a strong indicator of successful marketing strategies.

Question 7

Nora is deciding whether to purchase brand name sneakers or a store brand.She has purchased other shoes with the same brand name in the past but was only marginally satisfied.In this situation,Nora is likely to purchase the store brand sneakers because they offer:

Accepted Answer

The statement mentions that Nora was only marginally satisfied with previous purchases of the brand name sneakers. This suggests that she places more importance on perceived value, which is more likely to be offered by the store brand.

Question 8

Whether they like them or not,most U.S.automobile customers are familiar with and have an opinion about American-made cars.This familiarity makes it easier for consumers to:

Accepted Answer

Familiarity with American-made cars makes it easier for consumers to make purchase decisions.

Question 9

A ___________ is one where there is a contractual arrangement between firms allowing one to use its brand name for a fee.

Accepted Answer

A licensed brand is one where there is a contractual arrangement between firms allowing one to use its brand name for a fee.

Question 10

For marketers,one of the benefits of having achieved brand loyalty is:

Accepted Answer

Lower marketing costs associated with reaching loyal customers are one of the benefits of achieving brand loyalty. Loyal customers are likely to continue buying from the brand without the need for extensive advertising or promotions. This means that marketers can allocate their resources towards acquiring new customers or improving their products/services.

Question 11

_______________ is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.

Accepted Answer

Brand equity refers to the intangible value or goodwill that a brand name builds over time, which can enhance the perceived value of a product or service. This includes the reputation, loyalty, recognition, and associations that consumers have with the brand. It can also be affected by factors such as marketing efforts, customer experiences, and brand extensions.

Question 12

Why would a firm spend over $2 million for a 30-second ad on television during the Super Bowl?

Accepted Answer

The Super Bowl is one of the most-watched television events of the year and offers a huge audience, making it an opportunity for companies to create significant brand awareness. The high cost of the ad is justified by the potential return on investment in terms of increased brand recognition and potential sales.

Question 13

Recent Apple Computer Company ads showed a young,casually-dressed,friendly and knowledgeable person as an Apple computer type,while the Microsoft computer person was portrayed a stiff,geeky,awkward person.Apple was trying to create comparative:

Accepted Answer

The ad campaign by Apple was trying to create a strong brand personality by portraying the Apple computer person as young, casual, friendly and knowledgeable, while the Microsoft computer person was portrayed as stiff, geeky and awkward. This is an example of comparative brand personalities, where one brand is being positioned in contrast with another through the portrayal of different personality traits.

Question 14

Kleenex tissues,Clorox bleach and Scotch tape brands have:

Accepted Answer

Kleenex tissues, Clorox bleach and Scotch tape brands have become synonymous with the product itself, which means when someone is asking for a tissue, they may say "pass me a Kleenex" instead of "pass me a tissue". This phenomenon is called 'genericide' when a brand name is used and recognized as the product itself.

Question 15

Which of the following is NOT one of the four criteria used for determining how "good" a brand is?

Accepted Answer

The four criteria used for determining how "good" a brand is are brand awareness, brand loyalty, brand associations, and brand perceived value. Brand conceptualization is not one of the criteria used for determining how "good" a brand is.

Question 16

Many former Enron professionals who had nothing to do with the corporate scandal have found that listing employment with Enron hurt their chances of being hired elsewhere.For these people,the Enron name has:

Accepted Answer

Negative brand equity refers to the overall negative perceptions and associations associated with a brand. In this case, the Enron brand is associated with a major corporate scandal, causing many former employees to have difficulty finding new employment opportunities. Therefore, the Enron name has negative brand equity.

Question 17

In a competitive market,perceived value is determined by consumers mostly:

Accepted Answer

In a competitive market, perceived value is determined by consumers in relation to the value of competitors' offerings. Consumers compare the benefits offered by different brands and make purchase decisions based on which brand provides the highest perceived value for their money. Therefore, understanding and keeping up with competitors' offerings is a critical component of creating and maintaining perceived value for your brand.

Question 18

Jenna always buys Stacy's brand pita bread chips.She does not even consider alternatives.Jenna is a _________________ customer.

Accepted Answer

Jenna's behavior of consistently choosing Stacy's brand pita bread chips without considering alternatives suggests that she is a brand loyal customer.

Question 19

The value of a brand is often calculated by assessing the:

Accepted Answer

The answer of The value of a brand is often...

Question 20

Firms spend millions of dollars annually to build brand equity,recognizing brand equity contributes to:

Accepted Answer

Building brand equity is a long-term investment, as it leads to greater customer loyalty, increased sales, and ultimately, profitability for the firm. Therefore, choice C is the most accurate option. While the other choices may be affected by brand equity, they are not the primary drivers of this strategic initiative.

Quiz 10: Product, Branding, and Packaging Decisions