Marketing

Question 1

An advantage of umbrella branding is _____, while an advantage of distinct branding is _____.

Answer 1

marketing efficiency; flexible new market entry. Launching and maintaining a brand is expensive. Accordingly, having a single brand is more efficient than maintaining multiple (distinct) brands. However, having multiple brands, each with different associations and meanings facilitates market entry and segmentation.

Question 2

What is the best definition for business category?

Answer 2

something made up of brands that customers consider substitutable

Question 3

When evaluating a category map, including benefit importance and brand performance, what are the criteria for the positioning benefit?

Answer 3

It is important to customer and your brand can perform on it better than competitors. You will want to position your brand on a benefit that can be made important to customers and where your brand can be perform better than your competitors.

Question 4

What does a category plot illustrate?

Answer 4

the relative importance of customer benefits and the customer perceptions of a brand’s performance. A category plot illustrates the relative importance of customer benefits and the customer perceptions of brands’ performance.

Question 5

What does a target audience persona describe?

Answer 5

the prototypical behaviors and beliefs of your target audience. A target audience persona is a detailed description of a customer drawn from the customer segment you have selected for value proposition purposes. Target audience personas illustrate a customer prototype rather than representing a real customer.

Question 6

Which executional element is charged with capturing value from our marketing activity?

Answer 6

Pricing is the executional tool that captures value for the organization enabling profitability and reinvestment in the business.