MKTG 400 Exam questions and
answers with answers 100%
significance of positioning - ANS✅✅Positioning involves identifying and articulating the space we
are trying to occupy in a customer's mind, based on their understanding of the problem they are
trying to solve (aka: the benefits they want to receive) and based on how they view the marketplace.
It necessarily involves identifying how a customer views all of the possible choices in the
marketplace so that we can identify and articulate the space we are trying to occupy in a customer's
mind relative to all of those competing options. Many purchase decisions are made on a
comparative basis and positioning frames the comparison for the consumer such that our product is
the best choice.
STP - ANS✅✅Segmentation, Targeting, Positioning
Differentiate - ANS✅✅that we stand alone as the best options by addressing the most important
and unique needs of the targeted customer. We convey our positioning and differentiation to our
customers by varying the marketing mix (4Ps) to tailor a product offering in ways that strengthen the
promise of the positioning and the uniqueness and value of the differentiation to best appeal to the
target segment(s).
Brand and Brand Equity - ANS✅✅The vessel through which we create relationships with
customers based on our positioning (and the differentiation we offer) in the marketplace
Learning objectives for UNIT 5 - ANS✅✅-Define brand positioning and identify the key elements of
a positioning statement.
Explain why firms implement positioning statements as a part of creating marketing strategy and
why articulating differentiation of value provided (unique selling proposition) is important.
-Describe the Three C's Model of Brand Positioning (consumer analysis, competitive analysis, &
company analysis)
-Understand what a perceptual map is, why they are valuable, and how they are created.
-Define branding and understand the strategic importance and significance of branding.
,-Understand the concept of brand equity and how we can use the Brand Resonance Pyramid as a
framework for brand building through a series of steps. (note: you will not be responsible for the
BrandDynamics Pyramid)
Template Positioning Statement - ANS✅✅To customers who are (target summary),
our product offers (most important claim)
relative to (competitive alternatives)
support (most important support).
When competing against other energy drinks like Red Bull and Monster, 5-Hour Energy is thinking
through how to get its brand to occupy a clear, distinctive, and desirable place in its target
customers' minds. What problem is it trying to solve? - ANS✅✅Positioning
Launched early in 2021, the Lucid luxury electric vehicle is considered by many to be the first serious
challenger to Tesla (a better established luxury electric vehicle brand). In its promotional efforts thus
far, it has focused on improved passenger and cargo space, compared with Tesla, and that it can
travel over 500 miles on a single charge, compared with around 400 miles on a single charge for
Teslas (at the time this question was written).
Given the four essential components of a positioning statement, what part of the statement would
articulate this category of "luxury elective vehicles" and, perhaps, Tesla, explicitly? -
ANS✅✅Relative to whom?
When shopping for a smartphone, a consumer first compares prices to see which brand offers the
lowest price. After also inspecting the product features of the various phones, however, she decides
that the lowest-priced brand is not her choice. Instead, she selects the brand with the best features
for her needs. This outcome is the result of the chosen brand's unique value claim that is known as: -
ANS✅✅functional value
T-Mobile market themselves as "America's largest, fastest, and most reliable 5G network". The
managers at T-Mobile use the following strategy to leverage product differences for being
distinctive.... - ANS✅✅Vertical Positioning
Perceptual Positioning Maps - ANS✅✅Location of each circle shows where consumers position a
brand on two dimensions: price and value. The size of circle indicates the brand's relative market
share in the segment.
brand - ANS✅✅to mean the entity in people's minds that begins to form the basis of some type of
relationship with customers, which means that there is a certain amount of awareness, reputation,
, prominence, and even loyalty about or towards this BRAND entity. This could include, then, all of the
brand elements and also the sensory, emotional, rational and cultural images that we associate with
a company or product.
branding tip - ANS✅✅So, we have relationships with brands that are, in some ways, similar to the
types of relationships we have with people (whether this is a good thing for us psychologically and
sociologically and certainly an interesting consideration for another class). This might be a neat
phenomenon, but why does it really matter to us as organizations?
Why do brands matter? - ANS✅✅brands matter to us, as people because they do three important
things for us:
-reduce risk - by making it easier to identify the source of the offering and signaling a level of quality
(when I need an electric tool, I'll probably buy DeWalt because I've always heard they make high
quality products)
-reduce search cost - by making it easier to find what we are looking for when we are shopping
(finding the shampoo we want in a sea of choices)
serve as internal or external symbolic device - by creating feelings of affinity and creating
communities among those with whom we share interests, behaviors, and/or value (Jeep Wrangler
owners)
Brand Resonance Pyramid framework - ANS✅✅Resonance (What about you and me?)
Judgements, feelings (What about you?)
Performance, Imagery (What are you?)
Salience (Who are you?)
OFFENSIVE = Brand Building - ANS✅✅-Memorable - should be easily recognizable and easily
recalled
-Meaningful - should suggest the product category/purpose and convey credibility
-Appealing (likeable) - create positive feelings and be aesthetically appealing
answers with answers 100%
significance of positioning - ANS✅✅Positioning involves identifying and articulating the space we
are trying to occupy in a customer's mind, based on their understanding of the problem they are
trying to solve (aka: the benefits they want to receive) and based on how they view the marketplace.
It necessarily involves identifying how a customer views all of the possible choices in the
marketplace so that we can identify and articulate the space we are trying to occupy in a customer's
mind relative to all of those competing options. Many purchase decisions are made on a
comparative basis and positioning frames the comparison for the consumer such that our product is
the best choice.
STP - ANS✅✅Segmentation, Targeting, Positioning
Differentiate - ANS✅✅that we stand alone as the best options by addressing the most important
and unique needs of the targeted customer. We convey our positioning and differentiation to our
customers by varying the marketing mix (4Ps) to tailor a product offering in ways that strengthen the
promise of the positioning and the uniqueness and value of the differentiation to best appeal to the
target segment(s).
Brand and Brand Equity - ANS✅✅The vessel through which we create relationships with
customers based on our positioning (and the differentiation we offer) in the marketplace
Learning objectives for UNIT 5 - ANS✅✅-Define brand positioning and identify the key elements of
a positioning statement.
Explain why firms implement positioning statements as a part of creating marketing strategy and
why articulating differentiation of value provided (unique selling proposition) is important.
-Describe the Three C's Model of Brand Positioning (consumer analysis, competitive analysis, &
company analysis)
-Understand what a perceptual map is, why they are valuable, and how they are created.
-Define branding and understand the strategic importance and significance of branding.
,-Understand the concept of brand equity and how we can use the Brand Resonance Pyramid as a
framework for brand building through a series of steps. (note: you will not be responsible for the
BrandDynamics Pyramid)
Template Positioning Statement - ANS✅✅To customers who are (target summary),
our product offers (most important claim)
relative to (competitive alternatives)
support (most important support).
When competing against other energy drinks like Red Bull and Monster, 5-Hour Energy is thinking
through how to get its brand to occupy a clear, distinctive, and desirable place in its target
customers' minds. What problem is it trying to solve? - ANS✅✅Positioning
Launched early in 2021, the Lucid luxury electric vehicle is considered by many to be the first serious
challenger to Tesla (a better established luxury electric vehicle brand). In its promotional efforts thus
far, it has focused on improved passenger and cargo space, compared with Tesla, and that it can
travel over 500 miles on a single charge, compared with around 400 miles on a single charge for
Teslas (at the time this question was written).
Given the four essential components of a positioning statement, what part of the statement would
articulate this category of "luxury elective vehicles" and, perhaps, Tesla, explicitly? -
ANS✅✅Relative to whom?
When shopping for a smartphone, a consumer first compares prices to see which brand offers the
lowest price. After also inspecting the product features of the various phones, however, she decides
that the lowest-priced brand is not her choice. Instead, she selects the brand with the best features
for her needs. This outcome is the result of the chosen brand's unique value claim that is known as: -
ANS✅✅functional value
T-Mobile market themselves as "America's largest, fastest, and most reliable 5G network". The
managers at T-Mobile use the following strategy to leverage product differences for being
distinctive.... - ANS✅✅Vertical Positioning
Perceptual Positioning Maps - ANS✅✅Location of each circle shows where consumers position a
brand on two dimensions: price and value. The size of circle indicates the brand's relative market
share in the segment.
brand - ANS✅✅to mean the entity in people's minds that begins to form the basis of some type of
relationship with customers, which means that there is a certain amount of awareness, reputation,
, prominence, and even loyalty about or towards this BRAND entity. This could include, then, all of the
brand elements and also the sensory, emotional, rational and cultural images that we associate with
a company or product.
branding tip - ANS✅✅So, we have relationships with brands that are, in some ways, similar to the
types of relationships we have with people (whether this is a good thing for us psychologically and
sociologically and certainly an interesting consideration for another class). This might be a neat
phenomenon, but why does it really matter to us as organizations?
Why do brands matter? - ANS✅✅brands matter to us, as people because they do three important
things for us:
-reduce risk - by making it easier to identify the source of the offering and signaling a level of quality
(when I need an electric tool, I'll probably buy DeWalt because I've always heard they make high
quality products)
-reduce search cost - by making it easier to find what we are looking for when we are shopping
(finding the shampoo we want in a sea of choices)
serve as internal or external symbolic device - by creating feelings of affinity and creating
communities among those with whom we share interests, behaviors, and/or value (Jeep Wrangler
owners)
Brand Resonance Pyramid framework - ANS✅✅Resonance (What about you and me?)
Judgements, feelings (What about you?)
Performance, Imagery (What are you?)
Salience (Who are you?)
OFFENSIVE = Brand Building - ANS✅✅-Memorable - should be easily recognizable and easily
recalled
-Meaningful - should suggest the product category/purpose and convey credibility
-Appealing (likeable) - create positive feelings and be aesthetically appealing
