MK 4200 Final Exam

Brand planning uses three interlocking and interacting models. They are:

brand positioning mode, brand resonance model, and brand value chain

Brand elements in the top 25 most popular brand meet most of the six criteria factors for brand elements. Which of these has 3 of the true criteria factors:

memorability, adaptability, and meaningfulness

True or False: In terms of protectability, marketeres should choose brand elements that can be protected both legally and competitvely

true

True or False: Two of the ways in which URLs are taken advantage of by unethical individuals are cyberproofing and spoofing

false

Products can be categorized into five levels namely. They are:

core benefit level, generic product level, expected product level, augmented product level, and potential product level

Strong brand characteristics include:

suspectibility and longevity

True or False: Brand equity provides a common denominator for interpreting marketing strategies and assessing the value of brand

true

True or False: The strategic management process really boils down to one question: How accessible does the firm want to be?

false

True or False: Customer-based brand equity can be defined as the differential effect that brand knowledge has on consumer response to the marketing of the brand

true

Brand awareness includes two main concepts. They are:

brand recognition and brand recall

The three advantages of brand image includes:

strength of brand association, favorability of brand associations, and uniqueness of brand associations

True or False: Brand positioning is the act of designing the company's offer and image so that it occupies a distinct and valued place in target customer's minds

true

The criteria for market segmentation includes:

all above

Business-to-business segmentation bases can be described as:

nature of client, buying condition, and demographic

True or False: Point of parity associations are designed to negate competitors' points of difference. They are not unique to the brand, as they may be shared with other brands

true

To approriately position a brand, marketers should:

all above

True or False: Points of parity can be corrected when correlated by: separating attributes, leveraging the equity of another entity, and redefining the relationship with the client

true

To update positioning over time, we use techniques such as:

laddering and reacting

A good product positioning should:

have a "foot in the present" and a "foot in the future"

True or False: The foundational level in order to achieve brand resonance in brand salience

true

True or False: Brand resonance describes the level of relationship and level of identification that the brand projects and achieves through social media

false

The four categories of brand resonance are:

behavioral loyalty, attitudinal attachment, sense of community, and active engagement

1. The four steps in the brand resonance model are:
1. Ensure identification of the brand with customers and associations with a product class, benefit, or consumer need 2. Establish totality of brand meaning via tangible and intangible brand associations 3. Elicit proper customer responses to the brand 4. Convert brand responses to create brand resonance and active loyalty customer-brand relationships
The four questions that correspond with these steps are

who are you? what are you? what about you? what about you and me?

True or False: Brand salience measures various aspects of the awareness of the brand, such as to what extent is the brand top-of-mind and easily recalled or recognized; what types of cues or reminders are necessary; how pervasive the brand awareness is

true

Attributes and benefits that underline brand performance include these features:

reliability, durability, serviceability, effectiveness, efficiency, empathy

True or False: As far as brand feelings, the type of feelings that are experiential and immediate and increase the level of intensity include - security, social approval, and self-respect

false

True or False: The brand value chain model is a structured approach to assessing the sources and outcomes of brand equity and the manner by which marketing activities create brand value. Additionally, it assumes the value creation process begins when the firm invests in a marketing program targeting actual or potential customers

true

True or False: When we talk about value stages, the customer mind-set stage includes everything that exists in the minds of customers with respect to a brand, including the following:
· Brand Awareness
· Brand Associations
· Brand Attitudes
· Brand Attachment
· Brand Activity

true

Brand equity can act as a bridge in that

brand can be a reflection of the past by assessing what consumers sensed, learned and experienced, while also looking to the future by using brand equity in order to design future marketing programs

Brand judgement includes the following factors:

brand quality, brand credibility, brand consideration, brand superiority

True or False: In today’s marketplace, consumers can wield substantially more customer power

true

True or False: Personalizing marketing has become more important because of the expansion of the internet and the continued fragmentation of mass media

true

True or False: Relationship marketing could be broken down into three tiers: mass customization, one-to-one marketing, and administration

false

True or False: Permission marketing is the practice of marketing to consumers only after gaining their express permission

true

True or False: The traditional marketing mix concept (McCarthy) and the notion of the 4 P’s of marketing fully and thoroughly describes modern marketing programs

false

True or False: A pricing strategy can dictate how consumers categorize the price of the brand as well as how firm or how flexible they think the price is, based on how deeply or how frequently it is discounted

true

True or False: Two of the reasons for price stability are: forward buying and diverting

true

True or False: The marketing communications program is a rigid and strict program which becomes one of the toughest in a marketing plan

false

True or False: Advertising is only one of many means by which firms stay in touch with consumers and forms relationships

true

True or False: Perhaps one of the biggest challenges in designing brand-building communications is that the info processing model of communications continues to evolve

true

Branding in the digital area is very different than the traditional consumer journey, which was composed of

awareness, consideration, purchase intention and purchase

When designing marketing programs to build brand equity, greater customer empowerment is about

the ability for the consumer to feel valuable and communicate and provide visible feedback

In designing marketing programs to build brand equity, channel transformation and disintermediation is about

channels continuing to morph, facilitating, and giving the ability to firms and customers to communicate

When personalizing marketing, we should consider that today’s economies

celebrate the power of the individual consumer, whereas before the masses made the economy

The consumer decision process has changed primarily because of

dramatic developments in digital marketing and social media

It is said that in relationship marketing is important among other things bc

acquiring new customers can cost five times as much as satisfying and retaining current customers

Post-purchase advocacy is important, so consumers should be encouraged to engage with the brand following a purchase because

post-purchase advocacy provides a way to build relationship and gain feedback

Mass customization is about:

making products to fit the customers exact specifications

When we talk about fullfillment, we are referring to

the way marketers add value by taking information given by consumers and generating rewarding experiences for the consumers

Experiential marketing is mostly

a tool for firms to provide unforgettable moments, experiment with a product, and build relationship and brand

When consumers sometimes visit stores to touch and feel products before ordering online, this is called

showrooming

The communication process from manufacturer to consumer was limited in feedback, so advertising and promotions using digital channels has allowed for a transition from

one-to-many, to many-to-many channels

Increasing consumer touchpoints is about

increasing opportunitites for marketers to interact with consumers across platforms

The brand experience scale is composed of the following factors

sensory, affective, behavioral, and intellectual

Choosing a pricing strategy to build brand equity means determining the following

a method for setting current prices and policy for choosing the depth and duration of promotions and discounts

Setting prices to build brand equity has three main factors; they are

value pricing, price segmentation, and everyday low prices

True or False: The new version of the information processing model of communication includes the following steps: exposure, attention, comprehension, yielding, intentions, and behavior

true

True or False: The four major marketing communication options include: advertising and promotion, interactive marketing, events and experiences, and mobile marketing

true

True or False: The difference between earned media channels and word of mouth is that word of mouth is all earned, while earned media channels were originally purchased

false

True or False: When talking about advertising on traditional media, we can say that the specific effects of advertising are difficult to quantify

true

Among the type of advertising media, we can include:

television, radio, print, direct response, and place

Television has historically been a great channel for advertising because

it vividly demonstrates product attributes and persuasively explains their corresponding consumer benefits

True or False: We can say that digital personalization is the tailoring of messages and offerings to individuals based on their actual behavior

true

True or False: Retargeting is when consumers get ads for products they previously browsed and researched and subsequently bought

false

True or False: One of the great things about brand message and co-creation is that marketers always have full control of a brand, and they can ask consumers to get involved in only positive feedback

false

Channel strategy can be subdivided into four main components. They are

channel design, indirect channels, direct channels, and online strategies

When we look at the ideal brand engagement pyramid, we should ____ at the bottom

Salience

True or False: Pros of FB include a large marketplace to connect with consumers, the ability to generate brand awareness among its users, its targeting capability, direct purchasing feature, and instant play videos

true

True or False: Social media apps reinforce the notion that mobile is primarily a means of commerce, instead of entertainment and communication

false

True or False: A key difference between content marketing and traditional marketing is consumers typically want to consume the posts that form part of the content marketing campaign

true

True or False: Pull strategy differentiates from push strategy in that consumers use their buying power and influence on retailers to “pull” the product through the channel, whereas in the push strategy the manufacturer is attempting to reach the consumer by “pushing” the product through each step of the distribution chain

true

True or False: A store-within-a-store is a concept where actual leasing arrangements or less formal arrangements are formed so that branded mini-stores are used to compete with the larger store

false

Among the services provided by channel members are

providing marketing research, negotiating final agreements, risk-taking

True or False: Selling products and services cannot be the primary goal of content marketing

true

True or False: When integrating content with public relations and marketing, the reach and engagement goals of the overall marketing strategy should be aligned with the content marketing strategy; it can help reach the audience, build a brand, increase brand awareness, generate leads, and ensure sales

true

True or False: Influencer marketing involves utilizing key influencers such as bloggers, celebrities, topic experts, and opinion leaders to provide info and opinions about products and brands

true

Among the advantages that radio, as a traditional channel brings are

is highly flexible, stations are highly targeted, ads are inexpensive, and works well in the morning

True or False: Television came before the radio, but the radio is much more expensive

false

When addressing the role of using multiple communications, we can say that among the advantages are

optimal utilization of monetary and other resources, and different communication options also may target different target segments

True or False: The simplest and most useful way to judge a communication option is by its ability to contribute to brand equity

true

A marketing audit is an independent examination of a company's marketing environment, objectives, strategies and activities. Some of the things that are evaluated in the audit include

agreement on objectives, scope and approach; data collection and report preparation and presentation

These are new levels of accountability in marketing and brand management because

there is a need to develop tools and procedures that allow for measurement

The steps for executing a brand exploratory are

study prior research, interview internal personnel, and conduct additional research

Some of the characteristics of qualitative studies include

they vary indirection, dept and technique, while providing a fairly accurate interpretation

A brand equity measurement system allows us to

draw timely, accurate, and actionable information about brands so they can make the best possible tactical decisions in the short run and strategic decisions in the long run

The rationale behind personas is to

provide examples of how the target customer looks, acts and feels that are as true-to-life as possible

Mental maps are useful outcomes of which type of study

qualitative research

Social media conversations can be successfully mined and summarized using the 5 Cs related to brand conversations. The 5 Cs are

conversation channel, conversation source, conversation content, channel-specific engagement, and context

The main disadvantage of social media data is

that the data may only represent a segment of consumers who tend to engage with a brand online

Pick the best definition of a positioning statement from the options below

the expression of how a given product/service/brand fills a particular consumer need/want, in a way that its competitors don’t

Positioning statements do not address which one of the following

core competencies of the company

Product-brand tracking studies capture

recall, recognition, and image/association questions

Which of the following is not among the benefits of quantitative research techniques

quantitative data allows for abstract interpretations that tease out insights

Which one of the following is not a drawback regarding the use of quantitative studies

studies such as the cluster analysis offer too much info for managers to process

The free association approach is the simplest and often the most powerful way to profile brand associations. In free association techniques, managers ask consumers

what comes to mind when they think of the brand

In marketing, projective techniques are

diagnostic tools that can be used to uncover true opinions and feelings when consumers are unwilling or unable to express themselves

The Zaltman Metaphor Elicitation Technique (ZMET) is a technique meant to

uncover unconscious motives for purchasing behavior

Brand personality refers to

the human characteristics or traits that consumers attribute to a brand

The marketing research tool for digital environments which is most popular is called

netnography

Social media monitoring is a fast-growing and increasingly specialized area of marketing. Which one of these is NOT a key statistic associated with a brand and therefore not likely to be on a marketing dashboard

bandwidth strength