The first step in the strategic brand management process is ________.
A) measuring consumer brand loyalty
B) identifying and establishing brand positioning
C) planning and implementing brand marketing
D) measuring and interpreting brand performance
The American Marketing Association defines a ________ as “a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.”
________ is a company’s ability to perform in one or more ways that competitors cannot or will not match.
A) Brand positioning
B) Market research
C) Competitive advantage
D) Competitor analysis
The ________ attack offers the firm an opportunity to diversify into unrelated products, into new geographical markets, and leapfrogging into new technologies.
Sony is an unusual market leader. It gives its customers new products that they have never asked for (e.g., Walkmans, VCRs, video cameras, CDs). This makes Sony a(n) ________ firm.
________ is a period of rapid market acceptance and substantial profit improvement.
Which of the following is true about market-nichers?
A) They are market followers in small markets.
B) They tend to have high manufacturing costs.
C) Their return on investment exceeds that in larger markets.
D) A nicher achieves high volume as against a mass marketer that achieves high margin.
A(n) ________ is another name for identifying shifts in market segments that are causing gaps to develop, then rushing in to fill the gaps and developing them into strong segments.
A) frontal attack strategy
B) flanking strategy
C) encircling strategy
D) counteroffensive strategy
An alternative to being a market follower in a large market is to be a leader in a small market. This type of competitor is called a ________.
A) marketing king
C) segment king
D) guerilla marketer
________ is the ability of a company to prepare on a large-scale basis individually designed products, services, programs, and communications.
A) Mass customization
B) Reverse engineering
D) Backward compatibility
A ________ is the set of all products and items a particular seller offers for sale.
A) product line
B) product mix
C) product extension
D) product system
BRZ Shoes targets the youth market with vibrant, visually appealing ads in modern styles. BRZ ads appeal to the ________ dimension of brand experience.
The ________ determinant of service quality refers to the knowledge and courtesy of employees and their ability to convey trust and confidence in the service they provide.
Marketers have traditionally classified products on the basis of characteristics: ________, tangibility, and use.
What types of goods are purchased frequently, immediately, and with minimum effort by the consumers?
A) specialty goods
B) shopping goods
C) convenience goods
D) durable goods
Costs that do not vary with production levels or sales are known as:
a. overhead costs
b. variable costs
c. average costs
d. opportunity costs
After determining its pricing objectives, a firm should take what next logical step in setting its pricing policy?
It should analyze its competitors’ costs, prices, and offers.
It should select its pricing method.
It should select its final price.
It should determine the demand for its product.
A company that is looking to maximize its market share would do well to follow ________ pricing.
Which of the following is the first step in setting a pricing policy?
A) selecting a pricing method
B) selecting the pricing objective
C) determining demand
D) estimating cost
A firm that is plagued with overcapacity, intense competition, or changing wants would do better if it pursues ________ as its major objective.
A) market skimming
B) product-quality leadership
D) profit maximization
Which of the following is a form of mass communications channel?
A) interactive marketing
B) personal selling
C) public relations
D) word-of-mouth marketing
_____ questions ask about the consequences of the buyer’s problems.
________ is the time necessary to prepare a promotional program prior to launching it.
A) Sell-in time
B) Link time
C) Setup time
D) Lead time
________ is a measure of communications effectiveness that describes the percentage of target market exposed to a communication.
Which of the following marketing communications tools is most influential at the maturity stage of a product’s life cycle?
A) sales promotions
B) direct marketing