Branding and Product Positioning Quiz

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Questions and Answers

Which of the following is NOT a function of branding?

  • To distinguish a company's offering and differentiate one particular product from its competitors
  • To guarantee a certain level of quality and satisfaction
  • To create identification and brand awareness
  • To reduce costs in marketing, labelling, packaging, and promotion (correct)

What is the main goal of branding?

  • To create new sales and market shares taken from competitors (correct)
  • To create identification and brand awareness
  • To reduce costs in marketing and promotion
  • To guarantee a certain level of quality and satisfaction

Which of the following is an example of an unbranded product?

  • Cement (correct)
  • Cereal
  • Shampoo
  • Chocolate

What are the added costs associated with branding?

<p>Marketing, labelling, packaging, and promotion (A)</p> Signup and view all the answers

How does branding help with promotion of a product?

<p>By creating identification and brand awareness (B)</p> Signup and view all the answers

Which of the following is NOT an advantage for a retailer in having own-label products?

<p>Higher market share (D)</p> Signup and view all the answers

What percentage of a retailer's total cost typically comes from the cost of goods?

<p>70-85% (B)</p> Signup and view all the answers

Which country has the highest profit margins for UK food retailers?

<p>United Kingdom (B)</p> Signup and view all the answers

Which type of own-label products have seen a growth in market share?

<p>Premium private-label products (A)</p> Signup and view all the answers

What is the typical profit margin for UK food retailers?

<p>8% (B)</p> Signup and view all the answers

Flashcards

What is the main goal of branding?

The primary objective of branding is to increase sales and gain market share by distinguishing a product from competitors.

What is an unbranded product?

Unbranded products lack a distinct identity or recognizable name, often found in generic, commodity-like items.

What are the costs of branding?

Branding involves creating a unique identity, building awareness, and promoting a product through marketing, labeling, packaging, and promotion, all adding costs.

How does branding help with promotion?

Branding aids in promoting a product by establishing recognition and associating it with specific qualities, values, or image.

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What is a challenge for retailers with own-label products?

Retailers offering own-label products can leverage their brand image and control pricing without relying on external brands, but reaching a wider market share can be difficult.

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What is the typical cost of goods for a retailer?

The cost of goods represents the largest portion of a retailer's expenses, typically encompassing 70-85% of their total costs.

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What is the profit margin for UK food retailers?

While the UK has the highest profit margins for UK food retailers, it is important to consider external factors and market conditions.

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What is a trend in own-label products?

Premium private-label products have gained popularity, demonstrating a shift towards higher-quality own-brand offerings.

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What is the average profit margin for UK food retailers?

UK food retailers typically achieve an average profit margin of 8%, indicating a relatively high return on sales.

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