Marketing And Branding

Question 1

7 P’s

Answer 1

People 
Process 
Physical evidence 
Place 
Price 
Promotion 
Product

Question 2

Fundamental Rights of CPA

Answer 2

Right to:

• equality
• fair and responsible marketing
• good quality, fair value and safety
• fair and responsible marketing
• fair and honest dealing
• fair, just and reasonable T&Cs
• disclosure of information
• privacy
• hold suppliers accountable
• to choose

Question 3

Advantages of a Strong Brand

Answer 3

Customer loyalty
Higher prices 
Retailers and service providers want to stock 
Image and appearance
Adds credibility and confidence

Question 4

7 Factors affecting a strong brand

Answer 4

Quality

Positioning ( name, image, service standards, product guarantees, packaging, delivery )

Re-positioning ( change position to reflect trends)

Internal marketing

Long-term perspective (loyalty)

Creditability

Communication ( message and perceptions)

Question 5

Advantages of brand extension and stretching

Answer 5

Less risk
Loyalty
Attract awareness and willingness
Lower promotional launch costs

Extension- new product ( same type) same maker

Stretching - establish products for new market ( unrelated product with unrelated market )

Question 6

Factors influencing a buyers decision

Answer 6

Physiological factors

• motivation
• perception
• attitudes

Social-cultural

• family
• cultural
• LSM / class
• personal factors

Economic factors

• exchange rates
• interest rates

• black box