1. Products and brands in niche markets hope to achieve profits through ________.

medium pricing

high promotability

low margins

lower demand

high margins

2. From a marketing management perspective, there are three main sets of brand equity drivers. Which of the three drivers was most applicable when McDonald’s decided to use the “golden arches” and Ronald McDonald as symbols of their brand?

The initial choices for the brand elements or identities making up the brand.

The profitability associated with brand development.

The product and all accompanying marketing activities and supporting marketing programs.

The service and all accompanying marketing activities and supporting marketing programs.

Associations indirectly transferred to the brand by linking it to some other entity.

3. Market Challengers can attempt to increase sales volume by ________.

all answers are correct

having consumers use the product in new ways

attracting competitors' customers

having consumers use more of the product on each occasion

having their consumers use the product on more occasions

4. A company’s major enduring asset is ________.

its brand

its shareholders

its culture

its workers

its leadership

5. ________ are product associations that are not necessarily unique to the brand but may in fact be shared with other brands.

Points-of-difference

Points-of-inflection

Points-of-presence

Points-of-divergence

Points-of-parity

6. The goal of positioning is ________.

to help the firm anticipate what the actions of its competitors will be

to collect information about competitors that will directly influence the firms' strategy

to discover the different needs and groups existing in the marketplace

to target those customers marketers can satisfy in a superior way

to locate the brand in the minds of consumers in relation to competing brands

7. As a marketing manager, you would want to draw attention to your points-of-difference and:

point out competitors' points-of-parity

rationalize competitors' perceived points-of-difference

emphasize competitors' points-of-difference

negate competitors' perceived points-of-difference

globalize competitors' perceived points-of-difference

8. A brand must demonstrate ________, for it to function as a true point-of-difference.

clear profitability to the company

clear similarity to the attributes of other brands

technological advancement

clear superiority on a (unique) attribute or benefit

exploitation of competitors' weakness

9. The world’s strongest brands share common attributes. Which of the following would NOT be among those common attributes?

The brand stays relevant.

The company monitors sources of brand equity.

The pricing strategy is based on consumer perceptions of value.

The brand excels at delivering the benefits consumers truly desire.

The brand that spends the most is the most respected and valued.

10. Establishing and communicating the distinctive benefit(s) of the company's market offering, for each target segment is called ________.

market research

marketing effectiveness

market segmentation

market positioning

market dominance

12. Which of the following is the most constructive response a market leader can make when defending its market share?

provide desired benefits

maintain basic cost control

innovate continuously

meet challengers with a swift response

provide expected benefits

13. Which of the following is NOT a good market leader strategy?

Maintain and enhance brand equity

Innovate

Attempt to grow the category

Aggressively defend its position

Imitate and match competitors

14. Strong brands possess all of the following marketing advantages EXCEPT ________.   

more elastic consumer response to price decreases

improved perceptions of product performance

greater loyalty

larger margins

guaranteed profits

15. While most brand of bottled water claim that they are “healthy”, “clean”, and “tasty”, Nestle promises that its brand of natural spring water is “healthier water that has a crispier and cleaner taste” than its competitors. Nestle’s competitive strategy is based on:

Excelling in Points of Parity (POP)

Estalishing Strong Points of Difference (POD)

Launching a Flank Attack Strategy

Effecitve use of Market Challenger Strategy

Repositioning

16. As a marketing manager, you would want to emphasize your points-of-difference and…?

point out competitors' points-of-parity

emphasize competitors' points-of-difference

negate competitors' perceived points-of-difference

globalize competitors' perceived points-of-difference

rationalize competitors' perceived points-of-difference