MKT 5360 Quiz #5 Questions with Correct Answers Latest Update 2025-2026
Developing a Brand Positioning - Answers 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 - Answers 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 - Answers 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 - Answers 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 - Answers Multiple Frames of Reference
Straddle Positioning
Establishing a Brand Positioning - Answers Communicating category membership
- Announcing category benefits
,- Comparing to exemplars
- Relying on product descriptor
Communicating POPs and PODs - Answers Negatively correlated attributes/benefits
- Low price vs. high quality
- Taste vs. low calories
- Powerful vs. safe
- Ubiquitous vs. exclusive
- Varied vs. simple
Monitoring Competition - Answers Variables in assessing potential competitors
- Share of market
- Share of mind
- Share of heart
Alternative Approaches to Positioning - Answers Brand narratives and storytelling
- Setting
- Cast
- Narrative arc
- Language
Cultural branding
Positioning/Branding for A Small Business - Answers 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? - Answers 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"
The Role of Brands - Answers Brands' role for consumers
- Set and fulfill expectations
- Reduce risk
- Simplify decision making
- Take on personal meaning
- Become part of identity
Brands' role for firms
- Simplify product handling
- Organize inventory & accounting
- Offer legal protection
- Create brand loyalty
- Secure competitive advantage
Developing a Brand Positioning - Answers 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 - Answers 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 - Answers 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 - Answers 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 - Answers Multiple Frames of Reference
Straddle Positioning
Establishing a Brand Positioning - Answers Communicating category membership
- Announcing category benefits
,- Comparing to exemplars
- Relying on product descriptor
Communicating POPs and PODs - Answers Negatively correlated attributes/benefits
- Low price vs. high quality
- Taste vs. low calories
- Powerful vs. safe
- Ubiquitous vs. exclusive
- Varied vs. simple
Monitoring Competition - Answers Variables in assessing potential competitors
- Share of market
- Share of mind
- Share of heart
Alternative Approaches to Positioning - Answers Brand narratives and storytelling
- Setting
- Cast
- Narrative arc
- Language
Cultural branding
Positioning/Branding for A Small Business - Answers 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? - Answers 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"
The Role of Brands - Answers Brands' role for consumers
- Set and fulfill expectations
- Reduce risk
- Simplify decision making
- Take on personal meaning
- Become part of identity
Brands' role for firms
- Simplify product handling
- Organize inventory & accounting
- Offer legal protection
- Create brand loyalty
- Secure competitive advantage
