Brand Management Exam Review
Course Introduction
Brand Management explores the strategic and tactical aspects of building, developing, and sustaining strong brands in a competitive marketplace. This course covers key concepts including brand equity, brand positioning, identity, and value, as well as methods for measuring and managing brand performance. Students will learn how to create effective branding strategies, navigate challenges such as brand extension and realignment, and utilize digital and traditional media to enhance brand visibility and loyalty. Through case studies and real-world applications, participants will gain practical insights into managing brands to achieve long-term business success.
Recommended Textbook
Marketing Management 13th Edition by Phil Kotler
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22 Chapters
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Page 2
Chapter 1: Defining Marketing for the 21st Century
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Sample Questions
Q1) Define internal marketing and its role in the company.Outline how various departments within the company outside marketing can demonstrate a customer focus.
Answer: Internal marketing must take place on two levels.At one level,the various marketing functions must work together.At the second level,other departments must embrace marketing and "think customer." Students may use Table 1.1 to furnish various examples of customer-centric focus outside the marketing department.
Q2) According to information provided in the chapter,McDonald's has been involved in a variety of corporate social initiatives.Give an example of how McDonald's might initiate cause-related marketing,and define what cause-related marketing is.
Answer: Cause-related marketing is donating a percentage of revenues to a specific cause based on revenue occurring during the announced period of support.The example used in the chapter noted McDonald's earmarking of $1 for Ronald McDonald Children's Charities from the sale of every Big Mac and pizza sold on McHappy Day.Students may create additional examples but each should meet the parameters set above.
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Chapter 2: Developing Marketing Strategies and Plans
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Sample Questions
Q1) The key to utilizing organizational core competencies is to ________ that make up the essence of the business.
A) force organizational departments to justify the budgetary components
B) own all intermediaries who come in contact with the goods and services
C) own and nurture the resources and competencies
D) emphasize global promotions
E) segment the workforces
Answer: C
Q2) For an MBO system to work,the business unit attempting to implement the process must meet four criteria.What are those criteria
Answer: The criteria are: (1)They must be arranged hierarchically,from the most to the least important; (2)objectives should be stated quantitatively whenever possible; (3)goals must be realistic; and (4)objectives must be consistent.
Q3) Characterize a marketing plan.
Answer: A marketing plan is a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives.It contains tactical guidelines for the marketing programs and financial allocations over the planning period.
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4
Chapter 3: Gathering Information and Scanning the Environment
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Sample Questions
Q1) The United States has one of the highest percentages of college-educated citizens,which spells a high demand for quality books,magazines,and travel.
A)True
B)False
Answer: True
Q2) If a company were pursuing a policy of networking externally,it might collect competitors' ads or look up news stories about competitors.
A)True
B)False
Answer: True
Q3) ________ consists of people,equipment,and procedures to gather,sort,analyze,evaluate,and distribute needed,timely,and accurate information to marketing decision makers.
A) A marketing information system
B) A marketing research system
C) A marketing intelligence system
D) A promotional campaign
E) A marketing database
Answer: A
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Chapter 4: Conducting Marketing Research and Forecasting Demand
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Sample Questions
Q1) A stakeholder-performance scorecard tracks the satisfaction of various constituencies who have a critical interest and impact on the company's performance.List four constituencies that might be included.
Q2) A company with a ________ may be held back by low brand awareness,low brand availability,benefit deficiencies,and high price.
A) high market-penetration index
B) high share-penetration index
C) low market-penetration index
D) low share-penetration index
E) none of the above
Q3) A ________ is a gathering of 6 to 10 people who are carefully selected based on certain demographic,psychographic,or other considerations and brought together to discuss at length various topics of interest.
A) market maven
B) virtual research market
C) consumer dyad
D) focus group
E) Nielsen sample family
Q4) What is the difference between company demand and a company sales forecast
Page 6
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Chapter 5: Creating Customer Value, Satisfaction, and Loyalty
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Sample Questions
Q1) All of the following are examples of the perils of CRM EXCEPT ________.
A) implementing CRM before creating a customer strategy
B) the enormous cost that might eventually drain significant profits from the organization
C) rolling out CRM before changing the organization to match
D) assuming more CRM technology is better
E) stalking, not wooing, customers
Q2) Harrah's has used effective ________ to almost double its share of customers' gaming budgets by targeting offers to specific customer segments.
A) customer relationship management
B) customer lifetime value
C) customer profitability analysis
D) customer satisfaction analysis
E) customer-value delivery
Q3) All companies should practice one-to-one marketing.
A)True
B)False
Q4) Give an illustration of how a company can use a customer database to reactivate customer purchases.
7
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Chapter 6: Analyzing Consumer Markets
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Sample Questions
Q1) The behavior people exhibit as they pass through certain life-cycle stages,such as becoming a parent,is largely fixed and does not change over time.
A)True
B)False
Q2) Briefly explain Freud's theory on human motivation and how this might be related to marketing.
Q3) According to recent research,which of the following market segments is characterized as valuing connections and relationships with family and friends with respect to marketing messages received
A) Men
B) Women
C) Seniors
D) Young adults
E) Single parents
Q4) When Mark went to college he had a burning desire to join a social fraternity; for Mark,this would be an example of an aspirational group.
A)True
B)False
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Page 8
Chapter 7: Analyzing Business Markets
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Sample Questions
Q1) In the business market,small sellers concentrate on reaching as many participants as possible because their chances of success are slim.
A)True
B)False
Q2) Initiators are those who authorize the proposed action of deciders or buyers.
A)True
B)False
Q3) Contracts are always sufficient to govern supplier transactions and prevent supplier opportunism.
A)True
B)False
Q4) All of the following are considered to be guidelines for selling to small businesses EXCEPT ________.
A) do not use the Internet
B) do keep it simple
C) don't lump small and midsize businesses together
D) don't forget about direct contact
E) do provide support after the sale
Q5) Explain the concept of derived demand.
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Chapter 8: Identifying Market Segments and Targets
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Sample Questions
Q1) Increasingly,companies are finding that their markets are "hourglass shaped." What does this mean for consumers and for marketers
Q2) Men and women tend to have different attitudinal and behavioral orientations,based partly on genetic makeup and partly on ________.
A) income
B) occupation
C) socialization
D) heredity
E) globalization
Q3) Kim is a young professional who enjoys snowboarding and going to rock concerts with her friends.According to the VALS eight-part typology segmentation system,Kim is best described as a(n)________.
A) thinker
B) achiever
C) experiencer
D) striver
E) survivor
Q4) Local marketing reflects a growing trend called grassroots marketing.Characterize grassroots marketing.
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Chapter 9: Creating Brand Equity
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Sample Questions
Q1) 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."
A) holistic product concept
B) product concept
C) service concept
D) brand
E) brand image
Q2) The brand promise will not be delivered unless everyone in the company lives the brand.
A)True
B)False
Q3) Because consumers have not fundamentally changed in recent years,neither have the strategies and tactics behind marketing programs.
A)True
B)False
Q4) The decision as to how to brand new products is especially critical.When a firm introduces a new product,it has three main choices.What are those choices
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Chapter 10: Crafting the Brand Positioning
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Sample Questions
Q1) A good advertising strategy to use in the maturity stage of the product life cycle would be to stress brand differences and benefits.
A)True
B)False
Q2) When Vlasic created a cucumber 10 times larger than the traditional pickle cucumber (e.g.,Hamburger Stackers),it used ________ as a means of modifying its product so additional customers might be attracted to the brand.
A) quality improvement
B) feature improvement
C) style improvement
D) packaging improvement
E) idea improvement
Q3) Characterize the differences between style,fashion,and fad life cycles.
Q4) There are three key consumer desirability criteria for creating points-of-difference.When the Westin Stamford hotel in Singapore advertised that it was the world's tallest hotel,it attempted to create a point-of-difference.The hotel may not have been successful in its attempt to create its POD because of which consumer desirability criteria associated with PODs
Q5) List five things you could do as a marketer to build a breakaway brand.
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Chapter 11: Dealing with Competition
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Sample Questions
Q1) In his article,"Innovative Imitation," Theodore Levitt argues that ________.
A) imitation is wrong and should be punished
B) product imitation might be as profitable as a strategy of product innovation
C) innovation is not possible without substantial imitation
D) innovation cannot begin unless dissatisfaction with imitation occurs
E) imitation should be against the law because of the intellectual property decision involved
Q2) All companies seek to maximize both long- and short-term profits.
A)True
B)False
Q3) The market nicher is a specialist.Characterize five niche specialist roles that can be assumed by the market nicher.
Q4) Market broadening and market diversification are likely tactics employed in which of the following market leader defensive strategies
A) Position defense
B) Flank defense
C) Preemptive defense
D) Counteroffensive defense
E) Mobile defense
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Chapter 12: Setting Product Strategy
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Q1) Ideal ________ would exist if users could fix the product themselves with little cost in money or time.
A) durability
B) reliability
C) style
D) design
E) repairability
Q2) If line filling is overdone,it could result in ________ and customer confusion.
A) sales paralysis
B) manufacturing inefficiencies
C) self-cannibalization
D) self-sacrifice
E) none of the above
Q3) The customer-value hierarchy consists of the basic product,core benefit,expected product,augmented product,and the consumption system.
A)True
B)False
Q4) Sellers must label their products.Labels serve many purposes beyond just "naming" the product.List the additional services provided by a product's label.
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Chapter 13: Designing and Managing Services
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Sample Questions
Q1) Because services are generally high in experience and credence qualities,there is more risk in purchase.
A)True
B)False
Q2) As companies collect,store,and use more information about customers,they must also incorporate the proper safeguards to protect that information and reassure customers about their efforts.
A)True
B)False
Q3) In the context of holistic marketing,________ describes the normal work of preparing,pricing,distributing,and promoting the service to customers.
A) internal marketing
B) correlated marketing
C) external marketing
D) integrated marketing
E) universal marketing
Q4) Interactive marketing describes the employees' skill in serving the client.
A)True
B)False
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Chapter 14: Developing Pricing Strategies and Programs
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Sample Questions
Q1) Many consumers use price as an indicator of ________.Image pricing is especially effective with ego-sensitive products such as perfumes and expensive cars.
A) status
B) quality
C) ability
D) capability
E) size
Q2) Pricing cues such as sale signs and prices that end in 9 become more influential when ________.
A) consumer price knowledge is poor
B) items are purchased frequently
C) items have been on the market a long time
D) prices are consistent year-round
E) they are employed frequently
Q3) All products have experienced heavy discounting in recent years.
A)True
B)False
Q4) Identify and discuss the six steps of the pricing procedure.
Q5) What is experience-curve pricing and what risks does it carry
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Chapter 15: Designing and Managing Integrated Marketing
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Sample Questions
Q1) As the "channel manager" for your firm,you have been asked by senior managers to identify new distribution channels for the launch of a new product.Your presentation describes a channel alternative as having three sets of elements.What are the three elements that would be contained in your presentation
Q2) Shoppers who primarily seek stores that suit people like themselves or members of groups they aspire to join are known as ________.
A) price/value customers
B) affinity customers
C) service/quality customers
D) variety-loving shoppers
E) high-value deal seekers
Q3) A system of partnerships and alliances that a firm creates to source,augment,and deliver its offering is called a demand chain.
A)True
B)False
Q4) Different consumers have different needs during the purchase process.Researchers Nunes and Cespedes argue that,in many markets,buyers fall into four categories.List and briefly define these four categories.
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Page 17
Chapter 16: Managing Retailing, Wholesaling, and Logistics
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Sample Questions
Q1) In shipping goods to its warehouses,dealers,and customers,the company can choose between five transportation modes: rail,air,truck,waterway,and pipeline.
A)True
B)False
Q2) Beyond the optimal order quantity,total cost per unit increases because ________.
A) inventory-carrying cost per unit increases
B) inventory-carrying cost per unit decreases
C) order-processing cost per unit rises
D) order-processing cost per unit falls more rapidly
E) order-processing cost per unit falls more slowly
Q3) The choice of transportation methods of distribution have negligible effects on the prices charged for the product and therefore marketers need not be overly involved in this process.
A)True
B)False
Q4) In the confrontation between manufacturers' and private brands,retailers have many advantages and increasing market power.What are some of the other factors affecting or weakening the national brands
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Page 18
Chapter 17: Designing and Managing Integrated Marketing Communications
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Sample Questions
Q1) Messages delivered by attractive or popular sources can achieve higher attention and recall.
A)True
B)False
Q2) Your sales force is efficient and effective.What are the four contributions that an effective sales force can make to the marketing communications mix
Q3) One implication of the concept of brand equity is that the manner in which brand associations are formed does not matter.In other words,if a consumer has an equally strong,favorable,and unique brand association between two media,then the impact in terms of brand equity should be ________.
A) prominent
B) identical
C) different
D) measurable
E) actionable
Q4) Explain the principle of congruity as it pertains to message sources.And what happens when a person holds one attitude toward the source and the opposite toward the message.
Q5) How do opinion leaders mediate the affect of mass communications
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Chapter 18: Managing Mass Communications:
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Q1) A better measure to evaluate the effectiveness of MPR is to measure ________.
A) the change in product awareness
B) the number of exposures carried by the media
C) the number of minutes of radio airtime garnered
D) the difference between PR costs and advertising space expense
E) the extent of viewer repeat exposure
Q2) Most advertisers try to measure the communication effect of an ad-that is,its potential effect on awareness,knowledge,preference,and sales.
A)True
B)False
Q3) The total number of exposures in a marketing advertising campaign can be expressed in the formula: E = R x F.
A)True
B)False
Q4) Explain the formula for measuring sales impact of advertising.
Q5) One of the five specific factors that must be considered when setting an advertising budget is the amount of money available from top management.
A)True
B)False
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Chapter 19: Managing Personal Communications:
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Sample Questions
Q1) Of the seven Cs of effective Web design,community refers to how the site enables user-to-user communication.
A)True
B)False
Q2) One of the great advantages of direct marketing is the ability to test,under real marketplace conditions,different elements of an offer strategy.
A)True
B)False
Q3) The Internet provides marketers and consumers with opportunities for much greater interaction and ________.
A) ease of use
B) speed
C) specificity
D) convenience
E) individualization
Q4) Inbound telemarketing centers receive calls from customers.
A)True
B)False
Q5) How can salespeople act as missionaries for their companies
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Chapter 20: Introducing New Market Offerings
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Sample Questions
Q1) When the major car companies added drink holders to the design of their cars,they were practicing ________,where the firm attaches high importance to incorporating customer preferences in the final designs.
A) listening skills
B) marketing applications
C) implementation of customer requests
D) customer-driven engineering
E) dual adaptation
Q2) Your personal physician prides himself on being on top of the literature regarding new medicines for his patients.In fact,your doctor prides himself on being the first to prescribe new medicines to help his patients.In marketing terms,your doctor can be said to be a(n)________.
A) late majority
B) early majority
C) innovator
D) laggard
E) early adopter
Q3) How would you go about performing a risk analysis to estimate your company's profit on a potential new product
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Page 22
Chapter 21: Tapping into Global Markets
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Q1) Matsushita,BMW,General Electric,Benetton,and The Body Shop followed the ________ approach to market entry,which allows firms to carefully plan expansion and is less likely to strain human and financial resources.
A) market attractiveness
B) continuous
C) born global
D) sprinkler
E) waterfall
Q2) Regional free trade zones exist around the world.One of the oldest is the European Union,formed in 1957.Describe the purpose of the EU and discuss some of the benefits to firms engaged in trade within the European Union.
Q3) Developed nations and the prosperous parts of developing nations account for about ________ of the world's population.
A) 10%
B) 20%
C) 30%
D) 40%
E) 50%
Q4) How do multinationals try to prevent gray markets
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Chapter 22: Managing a Holistic Marketing Organization
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Sample Questions
Q1) A marketing audit is a comprehensive,systematic,internal,and periodic examination of a company's or business units' marketing environment.
A)True
B)False
Q2) ________ is the appointment of teams to manage customer-value-building processes and break down walls between departments.
A) Reengineering
B) Outsourcing
C) Benchmarking
D) Supplier partnering
E) Customer Partnering
Q3) Many companies are beginning to realize that they are not really market and customer driven-they are product and sales driven.
A)True
B)False
Q4) Identify three key success factors in developing and implementing a social marketing program.
Q5) Identify the four characteristics of a marketing audit.
Q6) Give three examples of approaches to annual-plan control.
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