Int Mkt Chap 5

Question 1

Involves creating a perception in the mind of consumers regarding the nature of a company and its products relative to competition

Answer 1

Product Positioning

Question 2

Key elements of product positioning are

Answer 2

1) The way customers view the product

2) The products standing relative to competitors

Question 3

The unique strength/perception inherent in the most value

Answer 3

Brand Equity

Question 4

Exists when products, companies/brands are perceived as all the same with no significant differences. Gas Companies(Shell Chevron, Exxon)

Answer 4

Brand Parity

Question 5

The effect that summarizes the response a consumer has to a product due to the country that is the source, mind of the project

Answer 5

Country-of-Origin Effect

Question 6

4 Steps to product positioning

Answer 6

1. Identify target market
2. Analyse competition within the target market
3. Identify points of difference
4. Enhance or re-position as necessary

Question 7

The process of changing consumer perceptions of a brand relative to competitors.

Answer 7

Repositioning

Question 8

The practice where company leaders exaggerate or even fabricate the degree of a sustainable or green activities taking place in the organization

Answer 8

Greenwashing

Question 9

3 Strategic Approaches to the overall direction of a company are?

Answer 9

Cost Leadership
Differentiation
Focus

Question 10

Focuses on the benefits or value that a product or company provides to customers

Answer 10

Strategic Positioning

Question 11

The implications where efforts are undertaken to support the position a company’s marketers wish to reach. Product label and package will be altered to fit legal and cultural dictates of a nation.

Answer 11

Tactical Implications

Question 12

Implications where positioning is successful at this level through communication and consistency. Individuals in the company should be aware of the position of the brand

Answer 12

Operational Implication