1.A brand is _____.
a. simply a label
b. a name, picture, design, or symbol used by a seller to differentiate their offerings
c. a picture that is similar to another company’s design
d. a slogan that conveys the firm’s image
e. an advertising campaign
2.What is the goal of brand positioning?
a. to create a image or feeling in a customer that brings recognition and delight
b. to explain its differentiating qualities to its target customers, why it is better, and why the superiority to its competitors matters
c. to create an continually changing message to match the market’s latest trends
3.A company wishes to measure its customers’ loyalty. What attribute of its brand could be used to assess this measurement?
a. market price and distribution coverage of the brand
b. customer satisfaction with the brand
c. leadership or popularity of the brand
4.If a company created a product marketing campaign which exaggerated the actual benefits and features of a product and misrepresented the quality of the item, what could be the market’s reaction?
a. positive customer feedback
b. loss of customers and violation of the customer’s trust
c. deeper product market penetration
5.Jason has run out of toilet paper in the bathroom. He walks over to his supply closet only to discover that all of his toilet paper rolls have been used up. Jason has just experienced what part of the consumer decision-making process?
a. evaluating alternatives
b. recognition of a need
c. post-purchase behavior
6.Colgate decided it would sell frozen meals under its brand name. It identified a target market, health-conscious single people who read magazines and listened to the radio in their car. Colgate projected that these potential customers would choose its frozen meals over a competitor like Healthy Choice. Colgate rolled out its meals and failed almost immediately. In consumers’ minds Colgate stood for toothpaste. No one wanted to eat meals they associated with toothpaste. Colgate failed in large part because it misunderstood which branding aspect?
a. consistency of brand matters to consumers
b. brand messaging is flexible
c. core values should drive all decisions
7.Name the five steps in the Market Research Process