QUESTION Diner’s Preference is a new, high-end brand of silverware and cooking utensils put out by a new company. Which goal of branding is the company most likely interested in at this point? A) to publicize the company name and build trust B) to differentiate the company’s product from competing products C) to get repeat […]
QUESTION Which of the following describes brand equity? A) Sylvia has always rented a home, never owned. So she has never had to purchase replacement windows herself. Nevertheless, she recognizes the name Andersen Windows. B) Eliza loves her Subaru Impreza hatchback. She feels happy and safe when she drives it, and has fond memories of […]
QUESTION 3M Post-it Notes have been on the market for many years now and have always been well received. Which goal of branding is the company most likely interested in at this point? A) to publicize the company name and build trust B) to differentiate the company’s product from competing products C) to get repeat […]
QUESTION What is the marketing and financial value derived from the combination of factors that people associate with a certain brand name? A) brand awareness B) brand preference C) brand insistence D) brand equity E) brand loyalty ANSWER Answer: D Explanation: D) Brand equity is the marketing and financial value derived from the combination […]
QUESTION Which of the following is NOT one of the four goals of branding? A) to publicize the company name and build trust B) to differentiate the company’s product from competing products C) to start a new company D) to get repeat sales E) to make entering new markets easier ANSWER Answer: C Explanation: […]
QUESTION What is the name given to commitment to a particular brand—the degree to which consumers are satisfied with a product and will buy it again? A) brand awareness B) brand preference C) brand insistence D) brand equity E) brand loyalty ANSWER Answer: E Explanation: E) Brand loyalty is commitment to a particular brand—the […]
QUESTION Which category of business products is NOT correctly paired with its definition? A) accessory equipment: smaller, more mobile equipment B) component parts: materials for making principal product not readily identifiable in that product C) business services: services used in operations D) supplies: goods to help make, but not become part of, principal product E) […]
QUESTION Companies consider cost of materials, production expenses, impact of competition, and potential sales at this stage in developing a new product. A) product development B) product analysis C) test marketing D) commercialization E) idea generation ANSWER Answer: B Explanation: B) Product analysis is doing cost estimates to calculate the product’s possible profitability, taking […]
QUESTION Computers, copiers, and desks are examples of what category of business product? A) supplies B) installations C) accessory equipment D) process materials E) capital items ANSWER Answer: C Explanation: C) Computers, copiers, and desks are examples of accessory equipment.
QUESTION Employees, research and development departments, customers, suppliers, and even competitors can help a company with this stage in developing a new product. A) idea generation B) test marketing C) product analysis D) commercialization E) product screening ANSWER Answer: A Explanation: A) Companies may develop new products internally by listening to employees or through […]
