MSLE 3500 - Midterm #1 Flashcards
The ways we make purchase decisions
Reflexive
Responsive
Cognitive
The parts of a brand positioning statement
Target Audience
Benefit
Reason Why
Why people interact with companies via social media
It adds depth to business-consumer relationships and allow businesses to establish rapport and a sense of trust with consumers
What “heuristic” means
Mental shortcuts that help ease the cognitive load of making a decision - shapes, colors, logos
The Five Elements to Create Brand Insistence
Emotional connection
Value
Accessibility
Awareness
Relevant differentiation
What branding is and why it’s important
Branding is about understanding how your product will make life better
The three elements that makeup a brand
- Brand strategy
- Brand positioning
- Brand identity
Which of the following defines BRAND STRATEGY?
a) All the things you do to figure out where your product can be most successful
b) Finding your target audience, the benefit, and the reason why
c) Creating heuristic elements
a) All the things you do to figure out where your product can be most successful
Which of the following defines BRAND POSITIONING?
a) All the things you do to figure out where your product can be most successful
b) Finding your target audience, the benefit, and the reason why
c) Creating heuristic elements
b) Finding your target audience, the benefit, and the reason why
Which of the following defines BRAND IDENTITY?
a) All the things you do to figure out where your product can be most successful
b) Finding your target audience, the benefit, and the reason why
c) Creating heuristic elements
c) Creating heuristic elements
What is the emotional connection every brand strives to make with customers?
what consumer wants
what brand does well
what your competitor does well
Primary Research
Research done firsthand for the first time
Secondary Research
Collection of data from second-hand sources
Qualitative Research
Research that relies on what is seen in field or naturalistic settings more than on statistical data
Quantitative Research
Research that collects and reports stata primarily in numerical form
The different types of mission statements
Corporate Mission Statement
Working Mission Statement
Corporate Mission Statement
Feel good statements developed for the public
Working Mission Statement
Defines what you do in a simple crisp sentence for a company
What an operating charter is
A document to carefully construct a type of internal business government - who does what to who
Marketing Strategy
A defined business goal
Brand Strategy
Unique benefits your brand offers to the target audience
Marketing Tactic
The actions you take
TRUE or FALSE
“Brand” is a term whose meaning is interchangeable with advertising, marketing, namin or design
False
P&G’s marketers decided to look at consumer needs in the laundry detergent category. Their research revealed the many “needs” consumers identified in choosing a detergent – things like “Everyday Clean”, “Sensitive Skin”, “Cold-Water” washing, or “Color” protection. P&G aligned each detergent brand to meet a particular need and grew its business significantly.
What is the name of the marketing research tool P&G used to perform this analysis?
In-home testing
Segmentation research
Online panel
Focus groups
Concept testing
Customer satisfaction research
Segmentation Research
TRUE or FALSE
Al Ries and Jack Trout, in their Harvard Business Review article: POSITIONING: The battle for your mind, concluded that product superiority is all that mattered to have a successful brand
False
TRUE or FALSE
A brand is a customer’s experience living at the intersection of promise and expectation
True
TRUE or FALSE
Consumers use brand as an identification tool
True
TRUE or FALSE
Branding is the act of managing consumers’ expectations to condition your target audience to see your offering as the only answer to a specific need
True
TRUE or FALSE
Branding has become the backbone of modern business strategy. “Brand” drives consumer purchase decisions and affects nearly every functional area of a business. With the product offerings of many competitors converging into sameness, companies are viewing “brand” as the only avenue of differentiation
True
TRUE or FALSE
Brands are built on trust, and trust is rooted in truth
True
In a three-circle analysis, what is the name of the area where “What Your Brand Does Well” and “What the Consumer Wants”, called?
Benefit Zone
Losing Zone
Risky Zone
Winning Zone
Who Cares?
Twilight Zone
Winning Zone
Match the descriptor of the Brand Platform with the corresponding name (drag and drop from bottom): Drives Actions
Brand Promise
Brand Positioning
Core Values
Target Audience
Brand Personality
Brand Articulation
Brand Promise
Match the descriptor of the Brand Platform with the corresponding name (drag and drop from bottom): Drives Messaging
Brand Promise
Brand Positioning
Core Values
Target Audience
Brand Personality
Brand Articulation
Brand Positioning
Match the descriptor of the Brand Platform with the corresponding name (drag and drop from bottom): Drives Focus
Brand Promise
Brand Positioning
Core Values
Target Audience
Brand Personality
Brand Articulation
Core Values
Match the descriptor of the Brand Platform with the corresponding name (drag and drop from bottom): Those you desire to take action
Brand Promise
Brand Positioning
Core Values
Target Audience
Brand Personality
Brand Articulation
Target Audience
Match the descriptor of the Brand Platform with the corresponding name (drag and drop from bottom): Drives Responsibility
Brand Promise
Brand Positioning
Core Values
Target Audience
Brand Personality
Brand Articulation
Brand Personality
Match the descriptor of the Brand Platform with the corresponding name (drag and drop from bottom): Drives Relevance
Brand Promise
Brand Positioning
Core Values
Target Audience
Brand Personality
Brand Articulation
Brand Articulation
Match the descriptor with the correct name. (drag and drop from bottom): Defines the unique benefits your brand offers to the target audience
Brand Strategy
Marketing Tactics
Marketing Strategy
Brand Strategy
Match the descriptor with the correct name. (drag and drop from bottom): The actions you take to execute
Brand Strategy
Marketing Tactics
Marketing Strategy
Marketing Tactics
Match the descriptor with the correct name. (drag and drop from bottom): Has a defined business goal, i.e. increase sales
Brand Strategy
Marketing Tactics
Marketing Strategy
Marketing Strategy
What are the three parts of a brand positioning statement?
Brand Name
Benefit
Distribution channels
Reason Why
Package Design
Target Audience
Benefit
Reason Why
Target Audience
TRUE or FALSE
The reason why should explain how your product can deliver the benefit you’re claiming - explaining it in clear and simple terms (kitchen logic)
True
TRUE or FALSE
There’s no need to start your benefit statement with the name of the product
False
TRUE or FALSE
When defining your target audience, you only do so in psychographic terms ( i.e. football fans, outdoor types, animal lovers, homemakers, working women)
False
Benefits tend to fall into one of two areas. What are they? (Multiple answers. Mark all that apply)
Wonderful
Functional
Demographic
Rational
Psychological
Functional
Psychological
What is the emotional connection we seek to forge between our products, services, and customers?
Product superiority
Dependence
Resiliency
Heart warming
Trust
Trust
There are three primary ways consumer make purchase decisions. Please match the correct descriptor to the name (drag and drop from bottom): We exert significant mental energy
Cognitive Choice
Responsive Choice
Reflexive Choice
Cognitive Choice
There are three primary ways consumer make purchase decisions. Please match the correct descriptor to the name (drag and drop from bottom): Reacting to something we’ve heard or seen
Cognitive Choice
Responsive Choice
Reflexive Choice
Responsive Choice
There are three primary ways consumer make purchase decisions. Please match the correct descriptor to the name (drag and drop from bottom): Decisions are made without thinking
Cognitive Choice
Responsive Choice
Reflexive Choice
Reflexive Choice
TRUE or FALSE
In branding, its important to make your product / service stand out in the marketplace as different, better, and special
True
TRUE or FALSE
The world’s best marketing companies all have secret internal missions developed that are called “Stimulus Mission Statements”
False
TRUE or FALSE
Dr. Edward Deming, the father of quality management system engineering, notes 64% of problems in most corporations are due to poor systems
False
Match the correct statement with its descriptor: This document to carefully construct a type of internal business government, complete with checks and balances
Operating Charter
Working Mission Statement
Corporate Mission
Statement
Operating Charter
Match the correct statement with its descriptor: They define “what you do” in a single crisp, clear and memorable sentence
Operating Charter
Working Mission Statement
Corporate Mission
Statement
Working Mission Statement
Match the correct statement with its descriptor: Feel-good statements developed for public consumption
Operating Charter
Working Mission Statement
Corporate Mission
Statement
Corporate Mission Statement
TRUE or FALSE
The working mission statement is just something to be tacked up on the wall. Nobody needs to pay attention to it
False
Please mark all of the elements of an Operating Charter (multiple answers - mark all that apply): Feel-good statements developed for public consumption
Personal Mission Statement
Primary Objectives
Quantifiable Measures of Success
Aspirations
Secondary Objectives
Corporate Mission Statement
Working Mission Statement
Scope
Constraints
Brand Positioning Statement
Primary Objectives
Quantifiable Measures of Success
Aspirations
Secondary Objectives
Scope
Constraints
TRUE or FALSE
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
TRUE or FALSE
Market research tries to be objective to eliminate bias and give you a truthful snapshot of the marketplace and consumers
True
Match the market research description with the correct name of the type of research: Research someone else has already done
Secondary research
Quantitative research
Primary research
Online panel
Focus group
Concept testing
Test market
Surveys
Segmentation
Qualitative research
Secondary Research
Match the market research description with the correct name of the type of research: Research done on a large sample of people
Secondary research
Quantitative research
Primary research
Online panel
Focus group
Concept testing
Test market
Surveys
Segmentation
Qualitative research
Quantitative Research
Match the market research description with the correct name of the type of research: Research developed and conducted by you
Secondary research
Quantitative research
Primary research
Online panel
Focus group
Concept testing
Test market
Surveys
Segmentation
Qualitative research
Primary Research
Match the market research description with the correct name of the type of research: Individuals who accepted to respond to market research online
Secondary research
Quantitative research
Primary research
Online panel
Focus group
Concept testing
Test market
Surveys
Segmentation
Qualitative research
Online Panel
Match the market research description with the correct name of the type of research: Gather a group of customers in a room and discuss marketing/marketplace issues
Secondary research
Quantitative research
Primary research
Online panel
Focus group
Concept testing
Test market
Surveys
Segmentation
Qualitative research
Focus Group
Match the market research description with the correct name of the type of research: To test the acceptance of a new idea by target consumers
Secondary research
Quantitative research
Primary research
Online panel
Focus group
Concept testing
Test market
Surveys
Segmentation
Qualitative research
Concept testing
Match the market research description with the correct name of the type of research: A small-scale product launch
Secondary research
Quantitative research
Primary research
Online panel
Focus group
Concept testing
Test market
Surveys
Segmentation
Qualitative research
Test market
Match the market research description with the correct name of the type of research: Designed to develop quantitative, projectable data
Secondary research
Quantitative research
Primary research
Online panel
Focus group
Concept testing
Test market
Surveys
Segmentation
Qualitative research
Surveys
Match the market research description with the correct name of the type of research: Determine demographic, psychographic, and behavioral characteristics
Secondary research
Quantitative research
Primary research
Online panel
Focus group
Concept testing
Test market
Surveys
Segmentation
Qualitative research
Segmentation
Match the market research description with the correct name of the type of research: Research done on a few people
Secondary research
Quantitative research
Primary research
Online panel
Focus group
Concept testing
Test market
Surveys
Segmentation
Qualitative research
Qualitative Research
TRUE or FALSE
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
TRUE or FALSE
Marketing professionals have nothing to gain by paying attention in everyday life – watching TV commercials, browsing in stores, and talking with friends and family
False
TRUE or FALSE
Researchers have invented ingenious techniques to get in tune with the consumer. Consumers have been ambushed, bar coded, spied upon and even hypnotized in the quest for information. Companies pour millions of dollars into research yearly to help them understand what consumers are thinking and how the marketplace is changing
True
TRUE or FALSE
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
TRUE or FALSE
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
TRUE or FALSE
Futurists say as a rule of thumb, 75% of the jobs that will be available ten years from now haven’t been invented yet
False
TRUE or FALSE
Great marketers develop and foster interaction with their customers wherever they are
True
TRUE or FALSE
You can promote your products / services without them having to be “branded”. They will still have meaning to customers
False
A brand story is a platform from which recognition, loyalty and revenue is driven. What are the core components of a brand? (Multiple answers. Mark all that apply)
Brand strategy
Brand traditions
Brand correlation
Brand identity
Brand positioning
Brand Strategy
Brand Identity
Brand Positioning
TRUE or FALSE
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
TRUE or FALSE
Advertising to youth – Generation Z and Millennials – is easy. They listen to a lot of radio, read extensively, and watch a lot of TV
False
First part of a Brand Positioning Statement
Target Audience
Benefit
Reason Why
Target Audience
Second part of a Brand Positioning Statement
Target Audience
Benefit
Reason Why
Benefit
Third part of a Brand Positioning Statement
Target Audience
Benefit
Reason Why
Reason Why
Number one reason people say they interact with companies via social media is to:
Ask questions
Do product research
Get a discount
Read reviews
Get a Discount
Trust = ?
Truth/Time
Products are made in factories. Brands are made in _____________________?
The Mind
What THREE things need to connect to be the key to a strong brand?
Promise
Expectation
Customer Experience
