Marketing Quiz on Product and Pricing Strategies

False (B)

The complete set of product lines and individual items that a seller offers for sale.

<p>two-way</p> Signup and view all the answers

<p>Geographical Pricing = Setting different prices based on location. Psychological Pricing = Setting prices that have a psychological impact. Discount Pricing = Reducing prices to enhance sales. Segmented Pricing = Charging different prices for the same product based on customer segments.</p> Signup and view all the answers

<p>Exclusive products not bought from competitors (B)</p> Signup and view all the answers

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

<p>Brands that allow other companies to produce and sell products under their name for a fee.</p> Signup and view all the answers

<p>line extension</p> Signup and view all the answers

<p>Geographical Pricing = Pricing varies based on geographic location Psychological Pricing = Pricing designed to have a psychological impact Discount Pricing = Reduction in price to encourage purchase Segmented Pricing = Different prices for different customer segments</p> Signup and view all the answers

<p>Reputational risk between brands (A)</p> Signup and view all the answers

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

<p>iPhone SE or iPhone Pro series</p> Signup and view all the answers

<p>To establish different features that appeal to varying customer segments (C)</p> Signup and view all the answers

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

<p>Each brand might obtain only a small market share.</p> Signup and view all the answers

<p>waning</p> Signup and view all the answers

<p>Dilution of focus on building strong, profitable brands (B)</p> Signup and view all the answers

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

<p>To avoid diluting its existing brand.</p> Signup and view all the answers

<p>To meet consumer desires for variety (C)</p> Signup and view all the answers

<p>actions</p> Signup and view all the answers

<p>Customer behavior based on price perception (A)</p> Signup and view all the answers

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

<p>Apple</p> Signup and view all the answers

<p>multibranding</p> Signup and view all the answers

<p>Geographical Pricing = Setting prices based on location or market region Psychological Pricing = Setting prices that have a psychological impact Segmented Pricing = Charging different prices for the same product in different markets Discount Pricing = Reducing prices temporarily to boost sales</p> Signup and view all the answers

<p>Confusion regarding the image of the main brand (A)</p> Signup and view all the answers

<p>True (A)</p> Signup and view all the answers

<p>Lower development costs</p> Signup and view all the answers

<p>multibranding</p> Signup and view all the answers

<p>To leverage existing brand equity for new products (C)</p> Signup and view all the answers

<p>Ability to perform its function with quality and consistency (A)</p> Signup and view all the answers

<p>True (A)</p> Signup and view all the answers

<p>To create a recognizable visual mark that differentiates a brand from its competitors.</p> Signup and view all the answers

<p>line filling</p> Signup and view all the answers

<p>Determining the price of the product (A)</p> Signup and view all the answers

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

<p>Building lasting relationships with customers after the sale.</p> Signup and view all the answers

<p>identity</p> Signup and view all the answers

<p>Keeping customers happy after the sale (A)</p> Signup and view all the answers

Brands owned and marketed by retailers, offering competitive pricing and unique products

A brand allowing other companies to produce products under their name for a fee

Two brands collaborate to create a single product with both names

Expanding an existing brand to new variations (colors, sizes, flavors) within the same category

Apple broadened their iPhone product line by offering different models like SE and Pro series appealing to diverse needs

Retailers gain from higher profit margins and exclusive product differentiation.

A company extends existing brand name to new forms, colors, flavors within the same category to attract customers or prevent brands from competing directly

Collaboration can be complex and damage to one brand can impact the other

Using an existing brand name for a new product in a different category.

Low cost, low risk product introduction, variety for consumers, use of excess capacity, more shelf space.

The extended brand name might lose its meaning, or additional extensions may add little value.

The new product fits with the parent brand and helps create a competitive advantage.

A company introducing new brands in the same product category.

Procter & Gamble using different brands (Pantene, Head & Shoulders) in the same shampoo market.

Immediate familiarity and acceptance for a new product by leveraging an existing brand.

A brand name might not be suitable for a new product, causing potential image confusion or negative consumer attitudes.

Negative consumer response to a failed brand extension. Also, brand dilution where the main image is harmed.

Creates multiple brands targeting different customer segments within the same product category.

Expanding a product line beyond its current range by adding new products at either the higher or lower end of the spectrum.

Adding lower-priced products to a product line to attract price-sensitive customers or compete in a new market segment.

The ability of a product to perform its function consistently and without defects, meeting customer expectations.

Adding higher-priced products to a product line to enhance brand image, target premium customers, or increase profit margins.

Unique elements of a product that differentiate it from competitors and add value for customers.

The visual appeal and aesthetics of a product, aiming to attract attention and create a desirable impression.

Expanding both upward and downward simultaneously to cover a wider range of market segments.

The complete set of product lines and individual items that a company offers for sale. It encompasses everything the company markets to its customers.

Branding helps identify products, assure quality, tell stories, protect legal rights, and segment the market.

The container or wrapping of a product, designed to be innovative, distinctive, and environmentally friendly.

Assistance provided to customers after the sale, including troubleshooting, repairs, and guidance.

A group of closely related products that function similarly, target similar customers, and are sold through similar channels.

Adding more items within an existing product line to offer greater variety and cater to diverse needs.

Companies often extend brands to capture a larger market share, appeal to diverse customer segments, or enter new product categories effectively.

Extending a brand too aggressively can dilute the brand's image, spread resources too thin, or face competition from existing brands in the new category.

A brand's identity and perception naturally evolving through a company's actions, behaviors, and decisions, rather than intentional branding efforts.

A brand's image is influenced by product offerings, customer service, business decisions, corporate culture, and various interactions with the public.

Intentional branding involves deliberate strategies to create a specific brand image, while manifest branding is how that image naturally forms through actions and interactions.

The weakening of a brand's image or distinctiveness due to over-extension, inconsistent quality, or negative publicity.

Launching a completely new brand, often when existing brand names are unsuitable for new product categories or when seeking distinct market appeal.

Creating too many new brands can lead to resource depletion, confusion among consumers, or failing to establish strong branding in any single brand.

Creating unique brand personalities and value propositions to stand out in competitive markets, appealing to specific target segments.