Question 1

Recently, Mercedes-Benz quietly reduced its warranty coverage by eliminating some free scheduled maintenance because the expense for the firm was too high.At the same time, Hyundai and others have expanded their warranties to build consumer confidence in their cars.They realize that extending the period of warranty coverage demonstrates they are making better cars in a very tangible way.These are examples of firms considering the ______ of the product warranty.

Accepted Answer

By eliminating some parts of their warranty coverage, Mercedes-Benz reduced their expenses, while Hyundai expanded their warranties to build consumer confidence in their cars. Both decisions are related to considering the costs and benefits of the product warranty.

Question 2

Many Harley-Davidson owners have tattooed the company logo on their body.The HOG (Harley Owners Group)boasts a large membership willing to spend a lot of money on all things Harley.Indeed, Harley-Davidson has come to symbolize more than a motorcycle; it is a lifestyle.This is an example of _____ customers.

Accepted Answer

Harley-Davidson customers have shown a strong sense of loyalty to the brand, as demonstrated by their willingness to tattoo the company logo on their bodies and join the HOG group. The brand has become a symbol of a specific lifestyle and values, indicating a deep connection between the customers and the brand.

Question 3

The manufacturers of Fast Peddle Bikes offer a warranty that states that the gear shifting mechanism for their product will work consistently and be free of mechanical defects for 5 years.This is an example of a(n)______ warranty.

Accepted Answer

This is an example of a specific warranty because it only covers the gear shifting mechanism and is limited to a specific time period of 5 years.

Question 4

The marketing manager of NRG Beverage Company is revamping the product's label to carry a better product image, and more relevant messages.He is designing the ________ requirements of labeling.

Accepted Answer

The marketing manager is revamping the product's label to carry a better product image and more relevant messages, indicating that the requirements being focused on are marketing requirements.

Question 5

What are the implications of the dimensions of brand equity for marketing managers?

Accepted Answer

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Question 6

The warranty on a bottle of Store Brand Pain Relievers says that consumers may return this product if they are dissatisfied with it for any reason.This is an example of a(n)______ warranty.

Accepted Answer

The warranty mentioned in the statement is a general warranty as it offers coverage for any reason for dissatisfaction. It does not have any specific conditions or additional benefits, making it a basic warranty. It is also not extended beyond the usual warranty period.

Question 7

Describe the roles a brand plays for its company.

Accepted Answer

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Question 8

How does the American Marketing Association define a brand and why is a strong brand important?

Accepted Answer

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Question 9

The owner of NOP detergents is working with an art designer on the label for a new line of naturally scented detergents.They are trying to come up with the best way to place the brand and logo along with the other required information on the label.They are working on the ________ requirements of labeling.

Accepted Answer

Since package labeling represents the last marketing opportunity before the purchase decision, as much label space as possible is allocated to marketing communications. Brand, logo, product image, and other relevant marketing messages take up the dominant space on the label.

Question 10

Describe the roles a brand plays for customers.

Accepted Answer

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Question 11

Explain how the brand loyalty aspect of brand equity benefits both customers and the brand sponsor.

Accepted Answer

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Question 12

The marketing manager for ABC Appliances is working on the warranty for their new line of dishwashers.She is considering a 2-year total warranty based on costs, but the competition offers a 4-year total warranty and a 5-year mechanical warranty.She is worried that the shorter warranty she is planning will make customers think that ABC's dishwashers are inferior in quality.She should think about the _______ of the warranty.

Accepted Answer

The manager should consider the message that the warranty sends to customers. If ABC Appliances only offers a 2-year warranty while the competition offers a 4-year total warranty and a 5-year mechanical warranty, customers might perceive that ABC's dishwashers are of lower quality. Therefore, the manager should carefully consider the message that the warranty sends to customers.

Question 13

Define brand equity according to David Aaker and list the corresponding dimensions.

Accepted Answer

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Question 14

The warranty for tires is by the tire manufacturer while warranties for the power train are generally different from the rest of the automobile.These are examples of ________ warranties.

Accepted Answer

These are examples of specific warranties, which cover specific components or parts of a product rather than the product as a whole. The tire manufacturer offers a warranty specifically for the tires, while the power train warranty is specific to the power train components of the automobile.

Question 15

Lexus enjoyed an advantage by making it much easier for local dealers to deal with warranty problems, thereby keeping the customer happy.This shows the importance of the _________ communicated by a warranty.

Accepted Answer

The statement highlights the importance of the "message" communicated by a warranty - in this case, making it easier for local dealers to deal with warranty problems. This is crucial in keeping customers happy and ensuring they are satisfied with their purchase. The other options may also play a role, but they are not specifically mentioned in the given scenario.

Question 16

Explain how the brand connections aspect of brand equity benefits both customers and the brand sponsor.

Accepted Answer

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Question 17

Explain the advantages and disadvantages of both stand-alone and family branding.Give examples of companies that use each method?

Accepted Answer

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Question 18

Explain how the perceived quality aspect of brand equity benefits both customers and the brand sponsor.

Accepted Answer

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Question 19

Identify and explain the boundaries of branding.

Accepted Answer

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Question 20

On a box of Procter & Gamble's Bounce fabric softener sheets, the brand name "Bounce" is approximately 50 percent of the space on the front panel and the rest of the space is a bright color (orange)with clean fresh images of a sun rising and a green field.This is an example of the _____ requirements of labeling.

Accepted Answer

The prominently displayed brand name and appealing imagery on the packaging suggest that this is an example of marketing requirements of labeling, which aim to promote the product and create consumer appeal. The other options (legislative, legal, industry, consumer) are not as relevant in this specific case.

Quiz 11: The Product Experience: Building the Brand

The manufacturers of Fast Peddle Bikes offer a warranty that states that the gear shifting mechanism for their product will work consistently and be free of mechanical defects for 5 years.This is an example of a(n) ______ warranty.