Marketing Management MKT 300 Exam 3 Eaton University Practice Questions
with Answers
The connecting point for customers? - correct answer ✔✔ The brand
Brand - correct answer ✔✔ a name, term, symbol, design, or combination of them, intended to
identify the goods or services of one seller or group of sellers and to differentiate them from
those of competitors
Role of Brands - correct answer ✔✔ They stand for something; promise to deliver specific
benefits associated with products or services to consumers; represent solutions
Your brand isn't what you say it is... - correct answer ✔✔ it's what they (consumers) say it is
Branding - correct answer ✔✔ Core benefit: what the customer is buying
Value proposition: what the brand delivers that customers value; competitively superior
Attributes of Strong Brands - correct answer ✔✔ A strong brand occupies a distinct position in
consumers minds based on a relevant benefits and creates an emotional connection between
business and consumers
consistent brand message, focus on long-term growth, manage customer experience, and
meaning, memorable, and likeable
Miami, FL is a huge - correct answer ✔✔ brand name
, Brand equity - correct answer ✔✔ the marketing and financial value associated with a brand's
strength; based on loyalty, awareness, perceived product quality, and brand associations;
reflective of long-term trust; "strength" of brand and brand "fit"; can be so strong that brand
name becomes the category name (master brand)
Benefits to Consumers - correct answer ✔✔ search cost reducer, signal of quality, risk reducer,
symbolic device
Benefits to Companies - correct answer ✔✔ source of competitive advantage, predictability and
security of demand, barriers to entry, financial returns
Marketing creates, communicates, and ______ the product - correct answer ✔✔ delivers
Marketing creates _______ value - correct answer ✔✔ intangible
Intangible value - correct answer ✔✔ value you can't hold in your hand; value a film has above
and beyond tangible assets; market value is greater than the tangible assets
Brands are intangible, but they have ________ impact on consumer product experience -
correct answer ✔✔ tangible
Aaker Model (5 levels of customer attitude toward a brand) - correct answer ✔✔ 1. Devoted to
Brand
2. Values the brand (brand as friend)
3. Satisfied and Switching Cost
4. Satisfied Customer (no reason to change)
5. No Brand Loyalty (customer will change)
with Answers
The connecting point for customers? - correct answer ✔✔ The brand
Brand - correct answer ✔✔ a name, term, symbol, design, or combination of them, intended to
identify the goods or services of one seller or group of sellers and to differentiate them from
those of competitors
Role of Brands - correct answer ✔✔ They stand for something; promise to deliver specific
benefits associated with products or services to consumers; represent solutions
Your brand isn't what you say it is... - correct answer ✔✔ it's what they (consumers) say it is
Branding - correct answer ✔✔ Core benefit: what the customer is buying
Value proposition: what the brand delivers that customers value; competitively superior
Attributes of Strong Brands - correct answer ✔✔ A strong brand occupies a distinct position in
consumers minds based on a relevant benefits and creates an emotional connection between
business and consumers
consistent brand message, focus on long-term growth, manage customer experience, and
meaning, memorable, and likeable
Miami, FL is a huge - correct answer ✔✔ brand name
, Brand equity - correct answer ✔✔ the marketing and financial value associated with a brand's
strength; based on loyalty, awareness, perceived product quality, and brand associations;
reflective of long-term trust; "strength" of brand and brand "fit"; can be so strong that brand
name becomes the category name (master brand)
Benefits to Consumers - correct answer ✔✔ search cost reducer, signal of quality, risk reducer,
symbolic device
Benefits to Companies - correct answer ✔✔ source of competitive advantage, predictability and
security of demand, barriers to entry, financial returns
Marketing creates, communicates, and ______ the product - correct answer ✔✔ delivers
Marketing creates _______ value - correct answer ✔✔ intangible
Intangible value - correct answer ✔✔ value you can't hold in your hand; value a film has above
and beyond tangible assets; market value is greater than the tangible assets
Brands are intangible, but they have ________ impact on consumer product experience -
correct answer ✔✔ tangible
Aaker Model (5 levels of customer attitude toward a brand) - correct answer ✔✔ 1. Devoted to
Brand
2. Values the brand (brand as friend)
3. Satisfied and Switching Cost
4. Satisfied Customer (no reason to change)
5. No Brand Loyalty (customer will change)
