Brand Management
Midterm Exam
Course Introduction
Brand Management explores the strategies and techniques required to build, maintain, and strengthen brands in competitive markets. The course covers key concepts such as brand equity, brand positioning, brand identity, and brand architecture, emphasizing how effective branding creates value for both businesses and consumers. Students will analyze real-world case studies, examine the impact of digital media on branding, and develop critical skills in designing and implementing brand strategies that foster customer loyalty and drive business growth.
Recommended Textbook
Principles of Marketing 17th Edition by Philip T. Kotler
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20 Chapters
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Chapter 1: Marketing: Creating Customer Value and Engagement
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152 Verified Questions
152 Flashcards
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Sample Questions
Q1) An experience such as a vacation can be defined as a market offering.
A)True
B)False Answer: True
Q2) Jolene's firm markets preplanning services for a mortician. She finds that most of her target market avoids discussing future funeral needs. She convinces people to invest in the firm's services through her large-scale promotional efforts. Jolene's firm most likely practices the ________.
A) production concept
B) marketing concept
C) selling concept
D) product concept
E) societal marketing concept
Answer: C
Q3) What should sellers consider if they wish to avoid marketing myopia?
Answer: Sellers should consider the particular benefits and experiences desired by their customers, and not just pay attention to the specific products they offer.
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Page 3
Chapter 2: Company and Marketing Strategy: Partnering to
Build Customer Engagement, Value, and Relationships
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Sample Questions
Q1) Making more sales to current customers without changing a firm's products is known as ________.
A) market segmentation
B) market penetration
C) product diversification
D) product development
E) prospecting
Answer: B
Q2) ________ are low-growth, high-share businesses/products that need less investment to hold their market share.
A) Stars
B) Cash cows
C) Question marks
D) Dogs
E) Bears
Answer: B
Q3) Mission statements should be market oriented.
A)True
B)False
Answer: True
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Chapter 3: Analyzing the Marketing Environment
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Sample Questions
Q1) Millennials comprise the most financially affluent group in America today.
A)True
B)False
Answer: False
Q2) Marketers can group people in a number of ways, including by birth date. However, the following combination of groups has proven to be more effective: ________.
A) income, lifestyle, life stage
B) profession, common values they seek in products they buy, lifestyle
C) lifestyle, life stage, common values they seek in products they buy
D) place of residence, life stage, lifestyle
E) race or nationality, lifestyle, common values they seek in products they buy
Answer: C
Q3) The macroenvironment consists of the factors close to the company that affect its ability to serve its customers, such as suppliers, customer markets, competitors, and publics.
A)True
B)False
Answer: False
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5
Chapter 4: Managing Marketing Information to Gain Customer Insights
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Sample Questions
Q1) What is experimental research and when is it used?
Q2) How can a company manage information on specific customers more effectively?
Q3) A(n) ________ consists of people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights.
A) enterprise planning system
B) enterprise information system
C) marketing information system
D) corporate performance management system
E) geographic information system
Q4) Customer relationship management (CRM) helps ________.
A) firms monitor and minimize employee turnover
B) customers manage information about different sellers in the market
C) firms manage customer touch points to maximize customer loyalty
D) customers locate the best deals in the market
E) firms create artificial demand in the market
Q5) What are the steps of the marketing research process? How do companies conduct research?
Q6) Describe the three decisions involved in designing a sample.
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Chapter 5: Consumer Markets and Buyer Behavior
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Sample Questions
Q1) A shoe manufacturing company uses ads featuring the members of a country music band with the hope that the band's fans will see them wearing the company's shoes and hence purchase the same brand of shoes. The shoe company believes that the band portrays the image of a ________ to the band's fans.
A) membership group
B) reference group
C) status symbol
D) subculture
E) lifestyle
Q2) Which of the following consumer buying behaviors is related to conditions of low-consumer involvement and little significant brand difference?
A) complex buying behavior
B) dissonance-reducing buying behavior
C) habitual buying behavior
D) variety-seeking buying behavior
E) consumer capitalism
Q3) Explain how selective retention affects what consumers remember about marketing messages.
Q4) What role do the four Ps play in consumer behavior?
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Chapter 6: Business Markets and Business Buyer Behavior
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Sample Questions
Q1) Government organizations typically require suppliers to submit bids, and normally they award the contract to the lowest bidder.
A)True
B)False
Q2) In business markets with inelastic demand ________.
A) the total demand for products is not much affected by short-term price changes
B) buyers are highly sensitive to price changes
C) derived demand is absent
D) a business purchase usually involves fewer decision participants
E) a business purchase usually does not involve a professional purchasing effort
Q3) In ________, companies work together to facilitate the trading process.
A) reverse auctions
B) trading exchanges
C) procurement
D) supplier selection
E) order-routine specification
Q4) Product value analysis is an approach to enhancing productivity.
A)True
B)False
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Chapter 7: Customer Value-Driven Marketing Strategy:
Creating Value for Target Customers
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Sample Questions
Q1) ________ segments are conceptually distinguishable and respond differently to different marketing mix elements and programs.
A) Complex
B) Measurable
C) Competitive
D) Differentiable
E) Homogeneous
Q2) How do firms practicing channel differentiation gain competitive advantage?
Q3) Briefly describe geographic segmentation.
Q4) All of the following are ways a company can differentiate itself or its product EXCEPT
A) services
B) channels
C) price
D) people
E) image
Q5) When segmenting by user status, markets are segmented into light, medium, and heavy product users.
A)True
B)False
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Chapter 8: Products, Services, and Brands: Building Customer Value
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Sample Questions
Q1) An easier, more comfortable, more stylish transfer of thought onto paper refers to the ________ of Ruben's offerings.
A) tangible element
B) core customer value
C) actual product
D) augmented product
E) service variability
Q2) Brand ________ is the differential effect that knowing the brand name has on customer response to the product and its marketing.
A) differentiation
B) knowledge
C) equity
D) personality
E) relevance
Q3) Specialty products are consumer products and services that customers evaluate on suitability, quality, price, and style, by gathering information and making comparisons.
A)True
B)False
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Chapter 9: Developing New Products and Managing the Product Life Cycle
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Sample Questions
Q1) Evelyn's ________ is the practical use of solar power in a vacuum cleaner that is designed to effortlessly vacuum clean the floors of on-the-go and elderly consumers.
A) product placement
B) product concept
C) product image
D) product idea
E) virtual product
Q2) When Kraft focused on cost cutting with its older, established brands, leaving them to wither without much investment or modification, Kraft decided to ________ the older products.
A) extend
B) modify
C) drop
D) harvest
E) analyze
Q3) New product development begins with a systematic search for new product ideas through idea generation.
A)True
B)False
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Chapter 10: Pricing: Understanding and Capturing
Customer Value
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Sample Questions
Q1) A marketer's fixed costs are $400,000, the variable cost is $16 per unit, and the price of the product is $24 per unit. What is the company's break-even point in dollar sales?
Q2) Department stores that practice everyday low pricing typically provide frequent sale days, early-bird savings, and bonus earnings for store credit-card holders.
A)True
B)False
Q3) To take advantage of a downward-sloping experience curve, a company must do all of the following EXCEPT ________.
A) increase the product's price
B) be able to sell the higher volume of product
C) price its product lower
D) increase its production output
E) decrease its costs through experience gained
Q4) Who typically sets prices in large and small companies?
Q5) Prices have a direct impact on a firm's bottom line.
A)True
B)False
Q6) Define price. Discuss its importance.
Page 12
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Chapter 11: Pricing Strategies: Additional Considerations
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Sample Questions
Q1) Which of the following companies uses product bundle pricing?
A) Photo Genie, which sells inexpensive cameras that run only on their own, expensive, batteries
B) Go Zone, which launched a range of tablet models, each priced according to its features
C) Penguin's Parlor, which offers customers a 20 percent discount on their birthdays
D) Green Thumb, which gives away free watering cans with the purchase of certain potted plants
E) Panizza, whose combo meals are priced lower than its individual components sold together
Q2) Which of the following is true of FOB-origin pricing?
A) It is a strategy in which the company charges the same price plus freight to all customers.
B) It is a costly option for customers who are located near the company.
C) It charges all customers the freight cost from a base city to the customer location.
D) It is an expensive alternative for customers in distant locations.
E) It is a strategy in which the seller absorbs all or part of the freight charges.
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Chapter 12: Marketing Channels: Delivering Customer Value
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Sample Questions
Q1) ________ logistics starts with the marketplace and works backward to the factory or even to sources of supply.
A) Outbound
B) Customer-centered
C) Upstream
D) Reverse
E) Inbound
Q2) Which of the following terms refers to the wholesalers and retailers that form a vital link between the firm and its customers?
A) factory-supply networks
B) downstream partners
C) resource banks
D) upstream partners
E) supply channels
Q3) What are the key functions that members of the marketing channel perform?
Q4) In a direct marketing channel, the producer sells directly to the intermediaries, who in turn sell directly to the customers.
A)True
B)False
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Chapter 13: Retailing and Wholesaling
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Sample Questions
Q1) Target recently opened temporary shops to celebrate limited-run collections by Jason Wu in Toronto and Missoni in New York. These temporary shops are examples of
A) lifestyle centers
B) pop-up stores
C) warehouse clubs
D) strip malls
E) category killers
Q2) As a result of the great success of corporate chains, many independent stores choose to band together in either a voluntary chain or a ________.
A) factory outlet
B) retailer cooperative
C) wholesale club
D) warehouse club
E) convenience cooperative
Q3) A neighborhood shopping center has from 50 to more than 100 stores.
A)True
B)False
Q4) What are the different types of off-price retailers?
Q5) How does a retailer cooperative function?
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Chapter 14: Engaging Consumers and Communicating
Customer Value: Integrated Marketing Communications Strategy
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Sample Questions
Q1) Which of the following statements is most likely true regarding the competitive-parity method?
A) This method involves starting with total revenues, deducting operating expenses and capital outlays, and then devoting some portion of the remaining funds to advertising.
B) It is based on the availability of funds rather than on opportunities.
C) It wrongly views sales as the cause of promotion rather than as the result.
D) In this method, promotion budgets are set to match competitors' outlays.
E) This method involves setting the promotion budget at a certain percentage of current or forecasted sales.
Q2) Describe the six buyer-readiness stages along with the marketing strategies used at each stage.
Q3) Mass marketers can expect consumers to distinguish between commercial message sources to maintain a clear image of a company and its brands.
A)True
B)False
Q4) Marketers can choose from two basic promotion mix strategies-push promotion or pull promotion. Compare these two strategies.
Page 16
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Chapter 15: Advertising and Public Relations
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Sample Questions
Q1) Describe public relations and any three of its main functions.
Q2) In an attempt to set the company apart from its competitors, Central Parcel Service (CPS) has its employees wear brown uniforms and drive brown trucks. What type of public relations tool is being used by CPS?
A) buzz marketing
B) corporate logos
C) corporate identity materials
D) product publicity
E) public service materials
Q3) When P&G developed the Mr. Clean Magic Eraser, the company needed to explain how the product cleans grime from walls without removing paint. What type of campaign was most likely used by P&G for the Mr. Clean Magic Eraser?
A) informative advertising
B) persuasive advertising
C) reminder advertising
D) developmental advertising
E) comparative advertising
Q4) Describe the three characteristics that advertising appeals should have?
Q5) Explain why an ad might need to be modified from one country to the next.
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Chapter 16: Personal Selling and Sales Promotion
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Sample Questions
Q1) All of the following are basic types of compensation plans for salespeople EXCEPT
A) straight commission
B) straight salary
C) salary plus commission
D) salary plus company shares
E) salary plus bonus
Q2) Explain the methods of evaluating the performance of a sales force. Why is the evaluation of a company's sales force considered necessary?
Q3) ________ are offers of a trial amount of a product.
A) Samples
B) Coupons
C) Premiums
D) Rebates
E) Price packs
Q4) What does a call plan show?
Q5) What are the different steps in the selling process? Briefly describe each step.
Q6) Why and how do companies use workload approach?
Q7) Why are more companies using team selling? What are its pros and cons?
Q8) What is personal selling?
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Chapter 17: Direct, Online, Social Media, and Mobile Marketing
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Sample Questions
Q1) Describe how marketers can engage in social media.
Q2) Online marketing includes marketing via the Internet using company Web sites, e-mail marketing, blogs, and ________.
A) direct mail brochures
B) live demonstrations
C) samples
D) online video
E) focus groups
Q3) After selecting a sweater on the Land's End Web site, Kelly was asked to fill in details for the customer database. Kelly was given a form that required her to fill in her name, date of birth, and e-mail address. Kelly then checked a box that was next to the following statement: "Yes, I would like to receive weekly promotional information from Land's End online." Which of the following practices is evident from this scenario?
A) e-mail hosting service
B) e-mail spoofing
C) catalog marketing
D) contextual advertising
E) permission-based e-mail marketing
Q4) Explain integrated social media marketing.
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Chapter 18: Creating Competitive Advantage
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Sample Questions
Q1) From an industry point of view, Universal Pictures film studio might see its competition as ________.
A) West End theatre
B) Columbia Pictures
C) Tomorrowland
D) Summerfest
E) HarperCollins
Q2) A market challenger that matches the competitor's product, advertising, price, and distribution efforts is most likely ________.
A) creating multiple niches
B) pursuing an indirect attack
C) launching a full frontal attack
D) exiting from the current market
E) implementing a blue ocean strategy
Q3) The goal of performing a competitor analysis is to ________.
A) learn more about the competitors' sales structures
B) find flaws in the competitors' manufacturing processes
C) copy the best features that the competitors offer
D) find areas of potential competitive advantage and disadvantage
E) develop products in markets that the competitors are not in
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Chapter 19: The Global Marketplace
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Sample Questions
Q1) Trusted Wholesalers is a company that purchases products produced in Mexico and sells them to companies based in the United States and Canada. Management at Trusted Wholesalers would most likely be interested in becoming experts in the policies developed by ________.
A) the EU
B) NAFTA
C) CAFTA-DR
D) APTA
E) the BRIC countries
Q2) Which of the following involves the direct exchange of goods and services?
A) cash transaction
B) compensation
C) buyback
D) blocked currency
E) barter
Q3) Dove body soaps are sold successfully in essentially the same form around the globe. This is an example of straight product extension.
A)True
B)False
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Chapter 20: Sustainable Marketing: Social Responsibility and Ethics
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Sample Questions
Q1) Discuss the ways in which critics accuse marketing of harming the consumer.
Q2) In which of the following scenarios would high-pressure selling tactics typically be most advantageous for marketers?
A) selling situations with long-time customers
B) selling situations with new customers with a high likelihood of becoming repeat customers
C) selling situations with a company's most highly valued customers
D) selling situations with one-time customers
E) selling situations with dissatisfied customers
Q3) Brand name products give buyers assurances of consistent quality.
A)True
B)False
Q4) Critics point to which of the following factors when they accuse marketing of harming consumers through high prices?
A) quotas
B) nontrade tariffs
C) excessive markups
D) government taxes
E) changes in currency values
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