Question

59) Features are often used to differentiate from competitors. However, a firm must balance the features customers want with ________. A) the resources available for production B) the ability to manufacture the feature in a timely way C) what customers will pay D) the configurations that make a positive brand look stylish E) what the competition offers

61) Products that are new-to-the-world create a fundamental change in the marketplace and are known as ________. A) technological transformations B) convenience goods C) core products D) disruptive innovations E) enhanced products

66) ________ brands enable manufacturers to leverage marketing resources by creating efficiencies in marketing communications and distribution. A) Custom B) Private C) Licensed D) Stand-alone E) National 67) Jim is loyal to F&G brand for shirts. He tells others about how much he likes F&G. When a shirt was defective, he gave S&G a chance to fix the problem rather than switch.

Which dimension of brand equity does Jim demonstrate? A) brand assets B) perceived quality C) brand awareness D) brand association E) brand loyalty 68) Ann has been to Haskins Ice Cream Shops several times. Being a loyal customer, she has developed certain connections with the brand. She connects the brand with a high level of customer service. Which dimension of brand equity does this example illustrate? A) brand strategy B) brand association C) brand awareness D) brand assets E) perceived quality

71) When Sania purchases laundry detergent, she is able to easily recall and process information about Tide, but not the other brands. Which benefit of brand equity does this imply? A) generalized warranty B) brand strategy C) brand associations D) perceived bonuses E) specific warranty

72) Jose always prefers Coca-Cola products and does not consider other beverages, even when they are cheaper than Coca-Cola. Which of the following benefits of brand equity does this exemplify? A) brand assets B) brand awareness C) brand strategy D) perceived bonuses E) brand loyalty

74) An offer to others the right to use the brand in exchange for a set fee is: A) family branding B) benchmarking C) stand-alone branding D) cobranding E) licensing

76) Gloria runs a cafe in Baltimore. She introduced a new dish, which was initially priced at $12 but increased its price slowly over a period of 6 months. In this case Gloria is using: A) penetration pricing B) price skimming C) target ROI D) competitor-based pricing E) value pricing

77) Jacques has just designed a new handbag. He wants the price to communicate high quality and exclusiveness, so he sets the price high. He knows that after this season, the price may need to decrease as the market evolves. Jacques is using: A) penetration pricing B) price skimming C) target ROI D) competitor-based pricing E) value pricing

Answer 1

Ans 59: C) what customers will pay

Ans 61: D) disruptive innovations

Ans 66:   E) National

Ans 67: E) brand loyalty

Ans 68: B) brand association

Ans 71: C) brand associations

Ans 72: E) brand loyalty

Ans 74: E) licensing

Ans 76: A) penetration pricing

Ans 77: B) price skimming