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 The compact edition of the Oxford English Dictionary is sold with a magnifying glass. This is an example of which function of packaging? A) to provide product information B) to indicate price and universal product code C) to help consumers use the product D) to promote the product and differentiate it from competitors E) […]
QUESTION Child-resistant safety caps, such as those on prescription medicines and caustic products such as Drano, are included under which function of product packaging? A) to promote the product and differentiate it from competitors B) to provide product information C) to protect the product D) to indicate price and universal product code E) to help […]
QUESTION Which of the following describes brand insistence? A) Lester goes to the same coffee shop every morning for his favorite brew. He always goes to the same place. Only once when the line was very long and he had an early meeting did Lester go to a different shop across the street. B) Francois […]
QUESTION Which of the following is an example of a component part? A) industrial robots B) cleaning agents C) wool D) batteries E) food preservatives ANSWER Answer: D Explanation: D) Batteries, along with computer chips, switches, and tires, are examples of component parts.
QUESTION Fred’s company wants to come up with new product ideas. So Fred’s manager asked Fred to attend an idea-generating brainstorming meeting. Fred sat quietly throughout the meeting, not contributing anything. Later, Fred said, “My inner voice was blocking my creativity. All kinds of negative thoughts were running through my head.” Which of the following […]
QUESTION Which product is in a different category of innovation from the others? A) Campbell’s soup label change B) e-book readers C) two-flavor chewing gum D) larger-sized bottled water E) pink-colored hockey gear ANSWER Answer: B Explanation: B) All answer choices except e-book readers are in the continuous innovation category. E-book readers are in […]
QUESTION Patrick has a small retail store. Which item would Patrick definitely NOT sell in such a store? A) chewing gum B) work boots C) fur coats D) burn bandages E) food preservatives ANSWER Answer: E Explanation: E) Patrick’s store is a retail store, which means he sells to the consumer market. Food preservatives […]
