MKT 5360 Quiz #5 questions well
answered graded A+
Developing a Brand Positioning - correct answer ✔✔Positioning
- The act of designing a company's offering and image to occupy a distinctive place in the minds
of the target market
- Value proposition
Value Proposition - correct answer ✔✔Hertz (car rental)
- Busy professionals (Target Customers)
- Fast, convenient way to rent the right type of a car at an airport (Value Proposition)
Volvo (station wagon)
- Safety-conscious upscale families (Target Customers)
- The safest, most durable wagon in which your family can ride (Value Proposition)
Domino's (pizza)
- Convenience-minded pizza lovers (Target Customers)
- A delicious hot pizza, delivered promptly to your door (Value Proposition)
Competitive Frame of Reference - correct answer ✔✔Competitive frame of reference
- Defines which other brands a brand competes with and which should thus be the focus of
competitive analysis
- Identifying and analyzing competitors
- Customers' Ratings of Competitors on key Success Factors (ex.)
,Points-of-Difference and Points-of-Parity - correct answer ✔✔Points-of-difference (PODs)
- Attributes/benefits that consumers strongly associate with a brand, positively evaluate, and
believe they could not find to the same extent with a competitive brand
POD criteria
- Desirable
- Deliverable
- Differentiating
Points-of-parity (POPs)
- Attribute/benefit associations that are not necessarily unique to the brand but may in fact be
shared with other brands
POP forms
- Category
- Correlational
- Competitive
Choosing specific POPs and PODs
- Competitive advantage
- Means of differentiation
- Perceptual map
- Emotional branding
Brand mantras
- Communicate
,- Simplify
- Inspire
POP vs. POD - correct answer ✔✔Multiple Frames of Reference
Straddle Positioning
Establishing a Brand Positioning - correct answer ✔✔Communicating category membership
- Announcing category benefits
- Comparing to exemplars
- Relying on product descriptor
Communicating POPs and PODs - correct answer ✔✔Negatively correlated attributes/benefits
- Low price vs. high quality
- Taste vs. low calories
- Powerful vs. safe
- Ubiquitous vs. exclusive
- Varied vs. simple
Monitoring Competition - correct answer ✔✔Variables in assessing potential competitors
- Share of market
- Share of mind
- Share of heart
Alternative Approaches to Positioning - correct answer ✔✔Brand narratives and storytelling
- Setting
- Cast
, - Narrative arc
- Language
Cultural branding
Positioning/Branding for A Small Business - correct answer ✔✔Find compelling product
performance advantage
Focus on building one or two strong brands based on one or two key associations
Encourage product trial in any way possible
Develop cohesive digital strategy to make the brand "bigger and better"
Create buzz and a loyal brand community
Employ a well-integrated set of brand elements
Leverage as many secondary associations as possible
Creatively conduct low cost marketing research
How Does Branding Work? - correct answer ✔✔American Marketing Association
- A brand is "a name, term, sign, symbol, or design, or a 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"
answered graded A+
Developing a Brand Positioning - correct answer ✔✔Positioning
- The act of designing a company's offering and image to occupy a distinctive place in the minds
of the target market
- Value proposition
Value Proposition - correct answer ✔✔Hertz (car rental)
- Busy professionals (Target Customers)
- Fast, convenient way to rent the right type of a car at an airport (Value Proposition)
Volvo (station wagon)
- Safety-conscious upscale families (Target Customers)
- The safest, most durable wagon in which your family can ride (Value Proposition)
Domino's (pizza)
- Convenience-minded pizza lovers (Target Customers)
- A delicious hot pizza, delivered promptly to your door (Value Proposition)
Competitive Frame of Reference - correct answer ✔✔Competitive frame of reference
- Defines which other brands a brand competes with and which should thus be the focus of
competitive analysis
- Identifying and analyzing competitors
- Customers' Ratings of Competitors on key Success Factors (ex.)
,Points-of-Difference and Points-of-Parity - correct answer ✔✔Points-of-difference (PODs)
- Attributes/benefits that consumers strongly associate with a brand, positively evaluate, and
believe they could not find to the same extent with a competitive brand
POD criteria
- Desirable
- Deliverable
- Differentiating
Points-of-parity (POPs)
- Attribute/benefit associations that are not necessarily unique to the brand but may in fact be
shared with other brands
POP forms
- Category
- Correlational
- Competitive
Choosing specific POPs and PODs
- Competitive advantage
- Means of differentiation
- Perceptual map
- Emotional branding
Brand mantras
- Communicate
,- Simplify
- Inspire
POP vs. POD - correct answer ✔✔Multiple Frames of Reference
Straddle Positioning
Establishing a Brand Positioning - correct answer ✔✔Communicating category membership
- Announcing category benefits
- Comparing to exemplars
- Relying on product descriptor
Communicating POPs and PODs - correct answer ✔✔Negatively correlated attributes/benefits
- Low price vs. high quality
- Taste vs. low calories
- Powerful vs. safe
- Ubiquitous vs. exclusive
- Varied vs. simple
Monitoring Competition - correct answer ✔✔Variables in assessing potential competitors
- Share of market
- Share of mind
- Share of heart
Alternative Approaches to Positioning - correct answer ✔✔Brand narratives and storytelling
- Setting
- Cast
, - Narrative arc
- Language
Cultural branding
Positioning/Branding for A Small Business - correct answer ✔✔Find compelling product
performance advantage
Focus on building one or two strong brands based on one or two key associations
Encourage product trial in any way possible
Develop cohesive digital strategy to make the brand "bigger and better"
Create buzz and a loyal brand community
Employ a well-integrated set of brand elements
Leverage as many secondary associations as possible
Creatively conduct low cost marketing research
How Does Branding Work? - correct answer ✔✔American Marketing Association
- A brand is "a name, term, sign, symbol, or design, or a 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"
