Exam 1

Question 1

Its marketing’s job to make sure that consumers have a seamless experience with brands, products and services at all touch points - digital - analog - and personal
(True/False)

Answer 1

True

Question 2

While the tactics used to execute marketing plans constantly evolve – for example, the emerging opportunities with digital marketing, artificial intelligence, social media, social influencers and mobile smartphone marketing are new tools still evolving – the strategies that lead to successful marketing plans have remained surprisingly consistent over time.
(True/False)

Answer 2

True

Question 3

Futurists say as a rule of thumb, 65% of the jobs that will be available ten years from now haven’t been invented yet.
(True/False)

Answer 3

True

Question 4

Great marketers develop and foster interaction with their customers wherever they are.
(True/False)

Answer 4

True

Question 5

A brand story is a platform from which recognition, loyalty and revenue is driven. What are the core components of a brand?

Answer 5

Brand strategy
Brand positioning
Brand identity

Question 6

The branding process starts with research among consumers and the marketplace, which leads to identifying the target consumer, then developing a differentiated brand positioning strategy.
(True/False)

Answer 6

True

Question 7

Marketing is about understanding customers, understanding their lives, and understanding how your product or service can fit into their life to make their life better.
(True/False)

Answer 7

True

Question 8

Market research tries to be objective to eliminate bias and give you a truthful snapshot of the marketplace and consumers.
(True/False)

Answer 8

True

Question 9

Market research types

Answer 9

segmentation, concept testing, Qualitative research, online panel, quantitative research, secondary research, focus group, surveys, primary research, test market

Question 10

segmentation

Answer 10

Determine demographic, psychographic, and behavioral characteristics

Question 11

Concept testing

Answer 11

To test the acceptance of a new idea by target consumers.

Question 12

Qualitative research

Answer 12

Research done on a few people

Question 13

Online panel

Answer 13

Individuals who accepted to respond to market research online

Question 14

Quantitative research

Answer 14

Research done on a large sample of people

Question 15

Secondary research

Answer 15

Research someone else has already done

Question 16

focus group

Answer 16

Gather a group of customers in a room and discuss marketing / marketplace issues

Question 17

Surveys

Answer 17

Designed to develop quantitative, projectable data

Question 18

primary research

Answer 18

Research developed and conducted by you

Question 19

test market

Answer 19

A small-scale product launch

Question 20

One of the best ways to develop competitive advantage is to cross-pollinate ideas you steal from other companies or categories and twist them into your own idea.
(True/False)

Answer 20

True

Question 21

operating charter

Answer 21

This document to carefully construct a type of internal business government, complete with checks and balances.

Question 22

corporate mission statement

Answer 22

Feel-good statements developed for public consumption.

Question 23

working mission statement

Answer 23

They define “what you do” in a single crisp, clear and memorable sentence

Question 24

elements of an operating charter

Answer 24

primary and secondary objectives, scope, aspirations, quantifiable measures of success, constraints

Question 25

Al Ries and Jack Trout, in their Harvard Business Review article: POSITIONING: The battle for your mind, concluded that product superiority is all that that mattered, rather consumers’ perception of a given brand, that paved the road to success.
(True/False)

Answer 25

False

Question 26

A brand is a customer’s experience living at the intersection of promise and expectation
(True/False)

Answer 26

True

Question 27

branding

Answer 27

the act of managing consumers’ expectations to condition your target audience to see your offering as the only answer to a specific need.

Question 28

Brands are built on trust, and trust is rooted in truth.

True/False

Answer 28

True

Question 29

In a three-circle analysis, what is the name of the area where “What Your Brand Does Well” and “What the Consumer Wants”, called?

Answer 29

Winning Zone

Question 30

Brand positioning

Answer 30

drives messaging

Question 31

brand promis

Answer 31

drives actions

Question 32

brand articulation

Answer 32

drives relevance

Question 33

core values

Answer 33

drives focus

Question 34

brand personality

Answer 34

drives relationships

Question 35

target audience

Answer 35

those you desire to take action

Question 36

marketing tactics

Answer 36

the actions you take to execute

Question 37

marketing strategy

Answer 37

has a defined business goal, increased sales

Question 38

brand strategy

Answer 38

defines the unique benefits your brand offers to the target audience

Question 39

three parts of brand position statements

Answer 39

target audience
benefit
reason why

Question 40

two areas that benefits fall into

Answer 40

psychological

functional

Question 41

responsive choice

Answer 41

reacting to something we’ve heard or seen

Question 42

reflexive choice

Answer 42

decisions are made without thinking

Question 43

cognitive choice

Answer 43

we exert significant mental energy