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- 1Identify all of the possible risks of a brand or line extension: Select one or more: a a diluted or damaged customer image of products associated with the line-extended brand b a weakened manufacturing and distribution process c a diluted or damaged brand image 2The first step in outlining a strong marketing positioning statement is to: Select one: a address the target audience b address the key reasons customers should believe in the statement c address the category or frame of reference 3In order for a company to market the same product or service to different markets, what step is critical for the company to take? Select one: a The company should generate different positioning strategies to target the different audiences b The company should show its product or service is similar to its competitors c The company should be consistent and use the same marketing mix for different audiences 4The advantage of market research is that it: Select one: a can be expensive b takes time c can…2. This print ad is using the following tactics: Are you making plans for your wife's death? Come on now, own up. The thought hasn't so much as crossed your mind, has it? All along, you've blithely need and deserve? assumed that you'll be the The nightly bedtime Grst to go. That your wife will be out with their maths homework? Teaching them the one who will need the whats what in the big wide world? inancial looking-after. That yours is the life that should be insured, not hers. of help doesn't come cheap. Noble and worthy senti- ments indeed. But, i we may mother of three ploughs through sayso,short sighted ones,too. eighty hours of housework a week. There's no guaranteeing that your wife will outlive you. they Could you afford £2.000 a ycar for a family cook? stories? Helping them Heaven knows, you'd need help. Lots of it. And like everything else nowadays, that sort According to a recent survey, the average Eighty hours, mind. At £2.50 an hour, that comes to a staggering £10,400 a…1) Criteria for choosing brand elements are........... Select one: O a. All the options O b. Protectability O c. Likability O d. Transferability 2) Consumers offer their .............. and loyalty with the clear understanding that the brand will behave in certain ways and give them consistent product performance and appropriate pricing, promotion and distribution programs Select one: O a. Support O b. Trading O c. Trust O d. Efficiency
- e) Do you think giving the chocolate bar a brand name was necessary for its success? Justify your answer. Revision checklist In this chapter you have learned: to identify the four elements of the marketing mix o about the role of product decisions in the marketing mix o what makes a product successful o the costs and benefits of developing a new product owhat is meant by brand image and how this can influence sales and custom loyalty e about the role of packaging o to draw and interpret a product life cycle e about the different stages of the product life cycle and how they can influen marketing decisions e to suggest different ways to extend the product life cycle. DW-test your understanding with the revision questions on the CD-ROM.I need help with these two questions 1. A dentist offering children a free cartoon character tooth brush is an example of a (n) A.core product B.expected product C.augmented product D.service benefit _____ are perceived as a higher risk purchase, therefore, consumers are willing to spend a greater amount of time and effort in searching for the right brand. A.Convenience goods B.Preference goods C.Shopping goods D.Specialty goodsC. Optional product pricing D. By-product pricing 9. In today's time marketing must be understood and developed as? A. Getting the first mover's advantage B. Creating value for the customers C. Pushing for higher sales and profits D. Creating innovative products 10. Which one of these is an appropriate definition of "want"? A. The desires of consumers B. Needs related to society C. Basic human needs D. Needs directed to the product
- 3.Wal-Mart advertises the savings and value of shopping at Wal-Mart because of theirlive better, save money' tagline, This is an example of ____ product positioning. A.attributo/benchtB.price/qualityC.use or applicationD. product user 4.The _____ positioning strategy uses a good or service attribute or benefit to positionthe product in the consumer's mind relative to the products of the competition. A.attribute/ benefitB.price/qualityC.use of applicationD. Product class 6.In determining the feasibility of a particular market segment, a company accessesgovernment census data as well as commercial databases to determine how large the segment may be. This is an example of assessing the _____ of the market segment being consideredA. MeasurebilityB. SubstantiallyC. StabilityD. ActionabilityMr. James plans to market and sell his handcrafted sports watch to young athletes aged 25 to 30. These young athletes are referred to as the ……………….. Select one: A. Target Market B. Psychographic market segment C. Baby boomer market D. Young people market7. Successful marketing O focuses solely on selling more products. O continues long after the product is purchased. O includes preproduction through selling the product. O ends once the product is sold to consumers.
- At the very least, the identifies the product or brand. It might also describe several things about the product and promote the brand. Select one: O a. line extension O b. social marketing O c. label d. specialty productMost organizations sell more than one product. They may offer a portfolio of products. Construct a matrix of an organization’s product portfolio that reflects its width (variety) and depth (assortment). Imagine you are the organization’s Chief Marketing Officer. How would you defend the decision to offer so many options to meet buyer needs?1. The pattern of growing and declining sales in a product category over time is a. primary stage. b. product life cycle. c. development stage. d. introduction stage. 2. Your friend Kevin just bought a shirt and tie that you think are ridiculous, and you need to tell him politely that they just won’t work. You think back quickly to what you know from marketing about the customer experience. Which of the following would NOT be considered an individual influence of the customer experience that can help you figure out what to say? a. You know the store where he purchased it would exchange the shirt and tie if he explained why he needs to return it. b. You know he is old enough to make purchases on his own c. You know he can afford it. d. You know he is single and does not live with his family who might give him advice. 3. A valid marketing objective meets which of the following criteria? a. All of these b. It must be measurable. c. It must be specific d. It must be time-bound.
