Which marketing concept refers to building a distinct place in a consumer's mind when they
think about a specific brand and its value, prestige, reliability, performance, and cost?
Scarcity marketing
Brand positioning
Inbound marketing
Brand storytelling - Answers Brand positioning
Which segment in the standard target market segmentation displays information about a
prospect's beliefs and attitudes?
Geographics
Behavior
Psychographics
Demographics - Answers Psychographics
A company uses the selling concept.
Which aspect of marketing is this company concerned with?
Forming long-term customer relationships
Providing satisfaction to customers
Making the initial sale to customers
Increasing the repeat customer rate - Answers Making the initial sale to customers
What is part of the physical evidence aspect of the extended marketing mix?
Standardization
Employee uniforms
,Customization
Service designs - Answers Employee uniforms
Based on research about the target market's beliefs about food packaging, a company decides
that it should deliver all of its goods in biodegradable containers.
Which type of data informed the company's decision?
Psychographic
Demographic
Geographic
Behavioral - Answers Psychographic
What increases as a result of a company providing an excellent experience for the public?
Market segmentation
Consumer buying process
Customer lifetime value
Channel conflict - Answers Customer lifetime value
Which type of target market segment are vegans who believe eating animal products is
unethical?
Demographic
Geographic
Behavioral
Psychographic - Answers Psychographic
Which aspect of branding involves customers choosing one brand over another?
Brand preference
Brand positioning
, Brand experience
Brand personality - Answers Brand Preference
What is the first step in becoming acquainted with a brand?
Brand awareness
Brand preference
Brand loyalty
Brand relevance - Answers Brand Awareness
How does brand loyalty benefit a company?
By reducing the need for brand awareness efforts
By increasing customer retention and repeat purchases
By eliminating competition from other brands
By eliminating the need for advertising - Answers By increasing customer retention and repeat
purchases
Which type of branding occurs when multiple brands gain an advantage from serving a common
customer?
A line extension
A brand extension
Co-branding
Flanker branding - Answers Co-Branding
What is an advantage of co-branding for the participating brands?
Increased trust and reputation
Elimination of challenger brands
Development of a competitive advantage