Marketing in digital era
An entrepreneur is planning to sell new online accounting software-as-a-service. All
market competitors charge an implementation fee in addition to a monthly license fee
for comparable services. The entrepreneur structures the business model so that the
company will never charge an implementation fee.
Which element of the marketing mix is the entrepreneur employing?
Promotion
People
Product
Price - Answers -Price
A charity supporting pediatric hospitals conducts market research to identify what
motivates people to donate to similar children's charities.
Which type of marketing segmentation applies to the primary goal of the research?
Psychographic
Geographic
Demographic
Behavioral - Answers -Psychographic
A telecommunications company has $250 billion in revenue and a net worth of $2
trillion.
Which aspect of branding does this data represent?
Brand Awareness
Brand Personality
Brand Value
Brand Positioning - Answers -Brand Value
A computer company is known for its clean design, use of white space, and a generally
uncluttered, streamlined look and feel.
Which aspect of branding is represented by these details?
Brand Perception
Brand Identity
Brand Experience
Brand Storytelling - Answers -Brand Identity
What is an example of a brand element? Choose 2 answers.
Product smell
Product cost
Company mission
Company slogan - Answers -Product smell
Company Slogan
, The consumers' experience of a brand depends on whether their perception of the
brand is confirmed and whether the brand fulfills its promise. - Answers -True
A well-known soft drink company introduces new flavors into an existing drink line.
Which aspect of branding does this scenario describe?
Brand extension
Flanker brand
Line extension
Differentiation - Answers -Line extension
A credit card company partners with a music television station to launch a debit card.
Which marketing concept is described in this scenario?
Down market
Up market
Co-branding
Brand architecture - Answers -Co-branding
Which benefit occurs when a company participates in co-branding?
Increased brand recognition
Increased appeal to both high- and low-income consumers
Increased brand relevance
Decreased competition - Answers -increased brand recognition
A pharmaceutical company raises the price of diabetic insulin. Customers still buy the
medication, and there is no or very little change in the quantities they purchase or the
supply of insulin.
Which marketing concept is described in this scenario?
Customer acquisition cost (CAC)
Down market
Customer lifetime value
Inelastic demand - Answers -Inelastic demand
An organization's brand positioning statement describes its target market, explains its
benefits, and differentiates it from competitors. - Answers -True
Explain three benefits of a company dominating a category or subcategory. - Answers -
One benefit of a company dominating a category or subcategory is commanding more
market share, which is the company's percentage of an industry's total sales. For
example, a tech company can have a large share of the phone industry but have a
small market share in the personal computing industry.
Another benefit is that brand loyalty increases since customers have more products or
services to choose from under the various subcategories. For example, individuals who
have been lifetime customers of a particular brand of soda will likely try the same
brand's product in a variety of different flavors.
An entrepreneur is planning to sell new online accounting software-as-a-service. All
market competitors charge an implementation fee in addition to a monthly license fee
for comparable services. The entrepreneur structures the business model so that the
company will never charge an implementation fee.
Which element of the marketing mix is the entrepreneur employing?
Promotion
People
Product
Price - Answers -Price
A charity supporting pediatric hospitals conducts market research to identify what
motivates people to donate to similar children's charities.
Which type of marketing segmentation applies to the primary goal of the research?
Psychographic
Geographic
Demographic
Behavioral - Answers -Psychographic
A telecommunications company has $250 billion in revenue and a net worth of $2
trillion.
Which aspect of branding does this data represent?
Brand Awareness
Brand Personality
Brand Value
Brand Positioning - Answers -Brand Value
A computer company is known for its clean design, use of white space, and a generally
uncluttered, streamlined look and feel.
Which aspect of branding is represented by these details?
Brand Perception
Brand Identity
Brand Experience
Brand Storytelling - Answers -Brand Identity
What is an example of a brand element? Choose 2 answers.
Product smell
Product cost
Company mission
Company slogan - Answers -Product smell
Company Slogan
, The consumers' experience of a brand depends on whether their perception of the
brand is confirmed and whether the brand fulfills its promise. - Answers -True
A well-known soft drink company introduces new flavors into an existing drink line.
Which aspect of branding does this scenario describe?
Brand extension
Flanker brand
Line extension
Differentiation - Answers -Line extension
A credit card company partners with a music television station to launch a debit card.
Which marketing concept is described in this scenario?
Down market
Up market
Co-branding
Brand architecture - Answers -Co-branding
Which benefit occurs when a company participates in co-branding?
Increased brand recognition
Increased appeal to both high- and low-income consumers
Increased brand relevance
Decreased competition - Answers -increased brand recognition
A pharmaceutical company raises the price of diabetic insulin. Customers still buy the
medication, and there is no or very little change in the quantities they purchase or the
supply of insulin.
Which marketing concept is described in this scenario?
Customer acquisition cost (CAC)
Down market
Customer lifetime value
Inelastic demand - Answers -Inelastic demand
An organization's brand positioning statement describes its target market, explains its
benefits, and differentiates it from competitors. - Answers -True
Explain three benefits of a company dominating a category or subcategory. - Answers -
One benefit of a company dominating a category or subcategory is commanding more
market share, which is the company's percentage of an industry's total sales. For
example, a tech company can have a large share of the phone industry but have a
small market share in the personal computing industry.
Another benefit is that brand loyalty increases since customers have more products or
services to choose from under the various subcategories. For example, individuals who
have been lifetime customers of a particular brand of soda will likely try the same
brand's product in a variety of different flavors.
