Marketing Management

491. ______________ is a way of capitalizing on the recognition, goodwill, and any positive associations of an established brand, and using the name to lever the brand into a new market.

  1. Brand Repositioning
  2. Brand Stretching
  3. Brand Extension
  4. Brand equity
Correct answer: (C)
Brand Extension

492. Executives often complain that pricing is a big headach Common mistakes include: price is not revised often enough to capitalize on market changes; price is set ______________ of the rest of the marketing mix rather than an intrinsic element of a market-positioning strategy.

  1. divergently
  2. too high
  3. intrinsically
  4. independently
  5. concurrently
Correct answer: (D)
independently

493. The three major considerations in price setting are: costs set the floor price; ______________; and customers' assessment of unique features establishes the price ceiling.

  1. competitors' prices and the price of substitutes provide an orientation point
  2. competitors' prices establishes a "target price" goal
  3. the price of substitutes establishes a "target price"
  4. the price of competitors and substitutes does not enter into the pricing considerations.
  5. none of the above
Correct answer: (A)
competitors' prices and the price of substitutes provide an orientation point

494. What channel structure is it where the product goes directly from the producer to the final customer?

  1. Direct
  2. Indirect
  3. Hybrid
  4. None of the above
Correct answer: (A)
Direct

495. When producers, wholesalers, and retailers act as a unified system, they comprise a:

  1. Conventional marketing system
  2. Power-based marketing system
  3. Horizontal marketing system
  4. Vertical marketing system
Correct answer: (D)
Vertical marketing system

496. Super Product Developers Pvt. Ltd has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage, called ______________, to arrive at a realistic number to adopt.

  1. Idea screening
  2. Idea dissemination
  3. Concept development
  4. Idea generation
Correct answer: (A)
Idea screening

497. Which of the following is not associated with brand equity?

  1. Brand value
  2. Brand heritage
  3. Brand strength
  4. Brand description
Correct answer: (B)
Brand heritage

498. This level of rebranding refers to the renaming of a whole corporate entity, often signifying a major strategic change or repositioning. This is known as:

  1. corporate rebranding.
  2. SBU rebranding.
  3. product rebranding.
  4. international rebranding.
Correct answer: (A)
corporate rebranding.

499. The decline in the average cost of production with accumulated production experience is called the ______________.

  1. demand curve
  2. cost curve
  3. learning curve
  4. cost target
  5. indifference band
Correct answer: (C)
learning curve

500. When suppliers, distributors, and customers partner with each other to improve the performance of the entire system, they are participating in a ______________.

  1. Channel of distribution
  2. Supply and demand chain
  3. Value delivery network
  4. Demand chain
  5. Supply chain
Correct answer: (C)
Value delivery network
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