Product and Brand Management Week 1 PDF

Product and Brand Management Week 1 1. Statement 1: A brand is deﬁned as a bundle of attributes capable of exchange or use; usually a mix of tangible and intangible forms. Statement 2: A product is a name, term, design, symbol or any other feature that identiﬁes one seller’s good or service as distinct from those of other sellers. a. Both statements are false. b. Statement 1 is True, and Statement 2 is false. c. Both statements are true. d. Statement 1 is False, and Statement 2 is True. 2. Which of the following statements about the product persona is false? a. Personas are abstractions of groups of real consumers who share common characteristics and needs. b. It is also a proﬁle of a employees who sell the product. c. Product Persona provides a uniﬁed view of how a product interacts with its users. d. It deﬁnes the beliefs, motivations, interests and personality of a product. 3. As discussed in the lecture, there are six levels in the product hierarchy. Identify the missing levels in the diagram? a. Product Mix, Product Design, Product Quality b. Product System, Product Plan, Product Variant c. Product Packaging, Product Style, Product Quality d. Product Item, Product Line, Product Family 4. Who proposed the classiﬁcation schema that includes Product Referent, Task or Outcome Referent (Beneﬁt), and User Referent (Usage) for describing products and services? a. Philip Kotler b. Theodore Levitt c. Myers and Shocker d. Clayton Christensen 5. Which of the following statements about Product Attributes is NOT true? a. Product attributes are the characteristics by which products are identiﬁed and diﬀerentiated. b. Product attributes usually comprise features, beneﬁts, and uses. c. Any given product or service can only be presented in one attribute class. d. When making judgments about multi-attribute alternatives consumers are likely facing a mixture of characteristic, beneﬁcial, and image attributes. 6. Match the product terminologies in Table 1 with their correct descriptions in Table 2. I. Product family A. It is the set of all products and items a particular seller oﬀers for sale. II. Product type B. A group of items within a product line that share one of several possible forms of the product. III. Product mix C. All the product classes that can satisfy a core need with reasonable eﬀectiveness. Table 1 Table 2 a. I - C, II - B, III - A b. I - A, II - B, III - C c. I - B, II - A, III - C d. I - B, II - C, III – A 7. Which of the following are the dimensions of product mix? a. Width b. Complexity c. Length d. Volume e. Weight f. Depth g. Intensity h. Consistency 8. Statement 1: Product design is the totality of features that aﬀect the way a product looks, feels, and functions to a consumer. Statement 2: Product mix refers to the number of diﬀerent classiﬁcations of goods carried in a particular merchandising unit. a. Both statements are false. b. Statement 1 is True, and Statement 2 is false. c. Both statements are true. d. Statement 1 is False, and Statement 2 is True. 9. Product development can be viewed from three perspectives. Which of the following is not one of these perspectives? a. As Rational Plan b. As Communication Web c. As Leadership Approach d. As Disciplined Problem Solving 10. __________ is a group of diverse but related items that function in a compatible manner. a. Product System b. Product Attribute c. Product Type d. Product Style Product and Brand Management Week 2 1. Statement 1: Minimum marketable product (MMP) is a version of a product with just enough features to be usable by early customers (early-adopters) who can then provide feedback as quickly as possible, which they can use to iterate and improve for future product development. It oﬀers all the beneﬁts that an MVP oﬀers Statement 2: Minimum viable product (MVP) is a product that has the simplest features yet is made more presentable to be launched in the market. a. Both statements are false. b. Statement 1 is True, and Statement 2 is false. c. Both statements are true. d. Statement 1 is False, and Statement 2 is True. 2. Match the product terminologies in Table 1 with their correct descriptions in Table 2. I. Product commercialization A. It is also called product elimination. II. Product abandonment B. It is usually the last stage in the development cycle for a new product III. Product recall C. It is the withdrawal and request for return of a product by the manufacturer or distributor in order to remedy or replace it due to the detection of a fault or faults which render it unﬁt for the purpose for which it was sold. Table 1 Table 2 a. I - C, II - B, III - A b. I - A, II - B, III - C c. I - B, II - A, III - C d. I - B, II - C, III – A 3. Product Life Cycle (PLC) has four premises. Which of the following is NOT one of them? a. Products have an unlimited life. b. Product sales pass through distinct stages, each stage has diﬀerent implications for the seller. c. Proﬁts from the product vary at diﬀerent stages in the life cycle. d. Products require diﬀerent strategies at diﬀerent stages of the life cycle. 4. Select the tasks that ﬁt the deﬁnition of Product Management given below. “According to The Association of International Product and Marketing Managers, Product management is the process of ________ products from the market.” a. Adopting b. Conceiving c. Planning d. Commercializing e. Developing f. Testing g. Managing h. Globalizing i. Launching j. Delivering k. Withdrawing l. Integrating m. Supervising 5. Identify the names of levels X, Y, and Z in the Customer Value Hierarchy. a. Core Product, Expected Product, Potential Product b. Generic Product, Bundled Product, Advanced Product c. Potential Product, Expected Product, Generic Product d. Core Product, Bundled Product, Potential Product 6. Match the products in Table 1 with the most appropriate examples in Table 2. I. Core Product A. The Airline oﬀerings free pickup and drop, hotel accommodation during waiting period, porter facilities, lounges for all etc. II. Basic Product B. A customer buys an air ticket from an Airlines to travel from one destination to another destination. III. Augmented Product C. The airlines provide a hassle-free travel without any delay in the travel time. Table 1 Table 2 a. I - C, II - B, III - A b. I - A, II - B, III - C c. I - B, II - A, III - C d. I - B, II - C, III – A 7. As discussed in class, services diﬀer from goods in several distinct ways. Which of the following is not one of these characteristics? a. Intangibility b. Inseparability c. Homogeneity d. Perishability 8. Which of the following statements about the expected product is true? a. The expected product or expected beneﬁt is the central beneﬁt or purpose for which a consumer buys a product. b. The greater a company meets the expected product level, the sustainable is a brand of a company. c. These become the means of evaluating alternatives for a customer. d. The marketer prepares an expected product that exceeds customer expectations. 9. Statement 1: Convenience Goods are purchased frequently, immediately and with minimal eﬀort. Statement 2: Shopping Goods are the goods that consumer characteristically compares on such bases as suitability, quality, price, and style. Statement 3: Unsought Goods have unique characteristics or brand identiﬁcation for which enough buyers are willing to make a special purchasing eﬀort. a. All the statements are True. b. Statement 1 and Statement 3 are true, and Statement 2 is false. c. Statement 1 is False, and Statement 2 and Statement 3 are True. d. Statement 1 and Statement 2 are true, and Statement 3 is false. Product and Brand Management Week 3 1. Generally, the positioning decision consists of four steps. Which of the following is not one of these steps? a. Identify alternative positioning themes by consulting the advertising account team, the product team, and past marketing plans. b. Identify the positioning themes of the competitors. c. Select the position that best satisﬁes these criteria and can be sold to the marketing organization. d. Implement programs (e.g., advertising) consistent with the product position selected. 2. Who stated, 'Positioning is the single largest inﬂuence on the buying decision'? a. Geoﬀrey Moore b. Philip Kotler c. Michael Porter d. Jagdish Sheth 3. When Aquaguard introduced Aquasure, people believed it was made for the upper class, despite the product being priced at only Rs.1600/-. This is an example of what type of positioning error? a. Under positioning b. Over positioning c. Confused positioning d. Doubtful positioning 4. Moov’s ‘Aa se Aha Tak’, ‘Move lagakar’ (Apply Moov before you sleep) is an example of what kind of positioning? a. Positioning by attribute b. Positioning by product user c. Positioning by application d. Positioning by product class 5. Which phenomenon is characterized by a sudden, sustained, and deep drop in new product sales after a period of rapid growth following take-oﬀ, followed by a gradual recovery to the former peak? a. Saddle b. Product stagnation c. Lifecycle d. Product Decline 6. At what stage in the product lifecycle do new competitors enter, proﬁt increase, price stabilize, marketing budgets are slightly raised? a. Introduction b. Growth c. Maturity d. Decline 7. Which statement is not TRUE for products in the maturity stage? a. Proﬁts starts declining. b. Companies always increase their promotion expenditure. c. New competitive forces emerge, and weaker competitors withdraw. d. The rate of sales growth will slow in earliest phase. 8. 'CDs, Hard book Encyclopedias, Cable TV Services' are at what stage of Product Life Cycle? a. Introduction Stage b. Growth Stage c. Maturity Stage d. Decline Stage 9. Select the option that is NOT an application of perceptual mapping. a. Positioning by attribute b. Positioning by competitors c. Positioning by employees d. Positioning by class 10. What repositioning strategies can be used to shift a product backward from maturity into growth? I. Reverse positioning II. Breakaway positioning III. Stealth positioning a. I, II, III b. I, II c. I d. II, III Product and Brand Management Week 4 Q1) Which of the following is not one of the five distinct groups classified by Rogers (1995) for product adopters? A) Innovators B) Early Adopters C) Early Majority D) Early Innovators Q2) Which of the following best exemplifies related (concentric) diversification? A) A software company acquiring a chain of restaurants B) A clothing retailer expanding its product line to include home furnishings C) A consumer durable company diversifying into sewing machines, fans, kitchen appliances, and electric motors D) An automobile manufacturer entering the aerospace industry Q3) Which of the following elements is/are not typically associated with the 'Product' component of the marketing mix? 1) Quality 2) Features 3) Discount 4) Branding 5) Packaging 6) Publicity Select the correct answer using the codes given below: Codes- A) 3 and 6 B) 1, 4, and 6 C) 1, 2, 4 and 5 D) 3, 5, and 6 Q4) Which of the following is not an objective of a marketing plan? A) To define the current situation, including customer positioning and competitor positioning B) To define the strategies and programs necessary to achieve the objectives C) To pinpoint responsibility for achieving product objectives D) To improve employee satisfaction and workplace culture Q5) Which strategy in Ansoff's Matrix involves introducing new products to existing markets? A) Market Development B) Product Development C) Market Penetration D) Diversification Q6) A company has three product lines: beverages, snacks, and desserts. This variety indicates the product mix: A) Depth B) Length C) Consistency D) Width Q7) Which of the following strategies did Starbucks use as an example of Market Development? A) Introducing a new line of coffee drinks in their existing stores B) Selling their coffee beans in grocery stores to reach non-coffee store goers C) Offering loyalty rewards to existing customers D) Launching a new advertising campaign to promote their current products Q8) What factor contributes to the occurrence of a saddle in the adoption curve or product life cycle? A) Geographic segmentation B) Psychographic segmentation C) Chasms in Adopter Segments D) Demographic segmentation Q9) What is the primary goal of a Market Penetration strategy? A) To diversify product offerings B) To develop new markets for existing products C) To increase market share of existing products in existing markets D) To innovate new products for the market Q10) Which of the following best defines a product? A) Only physical items that are tangible and can be touched. B) Only services provided by businesses to consumers. C) Anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, person, places, properties, organizations, information, and ideas. D) Only information and ideas that are intangible and cannot be touched. Product and Brand Management Week 5 1. Statement 1: Line Stretching occurs when a company lengthens its product line beyond its current range. Statement 2: Line ﬁlling occurs when a product line is lengthened by adding more items within the present range. a. Both statements are false. b. Statement 1 is True, and Statement 2 is false. c. Both statements are true. d. Statement 1 is False, and Statement 2 is True. 2. ___________ is a deﬁnitive process of analyzing and assessing each product and its current level of success. It also involves identifying risks and future opportunities, streamlining resource allocation based on product success and priority, and ultimately aligning these products with the business’s long-term strategic goals. a. Product portfolio management b. Line Stretching c. Product category management d. Portfolio analysis 3. Which of the following is not a factor in assessing the attractiveness of a product category? a. Aggregate Market Factors b. Category Factors c. Visible Factors d. Environmental Factors 4. Which of the following are aggregate market factors? a. Category size (measured in both units and monetary value) b. Category growth c. Technological factors d. Political factors e. Stage in product life cycle f. Economic factors g. Bargaining power of suppliers h. Sales cyclicity i. Seasonality j. Proﬁts k. Amount of intra-category rivalry 5. Match the diﬀerent Buyers/Users broken into diﬀerent categories in Table 1 with their correct description in table 2. I. Initiator A. The one who makes the ﬁnal decision through budget authorization. II. Inﬂuencer B. The one who identiﬁes the need for product III. Decider C. The one who has informational or preference input to the decision IV. Purchaser D. The one who makes the actual purchase Table 1 Table 2 a. I - C, II - D, III - A, IV - B b. I - D, II - B, III - C, IV - A c. I - B, II - A, III - C, IV - D d. I - B, II - C, III – A, IV - D 6. The measurement of satisfaction involves three key aspects. Which of the following is not one of them? a. Expectations of performance/quality. b. Perceived performance/quality. c. Visualized prototype. d. The gap between expectations and performance. 7. In 'How Competitive Forces Shape Strategy,' Michael Porter (1979) identiﬁes ﬁve fundamental forces that drive competition within an industry. Which of the following is NOT one of those forces? a. The threat of new entrants b. The threat of substitution c. The bargaining power of Employees d. The bargaining power of customers e. Rivalry between current competitors 8. What kind of line Stretching is employed when companies wish to enter the high end of the market for more growth, higher margins, or simply to position themselves as full-line manufacturers? a. Up-Market Stretch b. Down-Market Stretch c. Both Ways d. Vertical-Market Stretch 9. Category growth is generally high when product is in _________ stage of product life cycle. a. Introduction b. Growth c. Maturity d. Decline 10. Select the INCORRECT reason for Product-line pruning? a. High proﬁts b. Obsolescence/Stagnation c. Changes in Company Objectives d. Replacement with New Products Product and Brand Management Week 6 1. Which of the following is not one of the three basic principles of packaging? a. Protection b. Containment c. Identiﬁcation d. Shrinkﬂation 2. What is another term for Full-Cost Pricing? a. Absorption-cost pricing b. Marginal-Cost Pricing c. Captive Product Pricing d. By-Product Pricing 3. Which of these is an external factor aﬀecting price decisions? a. Marketing Objectives b. Nature of the market and demand c. Marketing Mix Strategy d. Product Design 4. What pricing strategy involves ﬁrms determining the costs of producing and supplying a product and then add money on top of this calculated costs to determine the selling price? a. Market Skimming Pricing b. Market Penetration Pricing c. Cost-Based Pricing d. Cost-Plus Pricing 5. The Market Skimming Pricing strategy is primarily used under three conditions. Which of the following does not ﬁt these conditions? a. Product’s quality and image must support its higher price. b. Costs can’t be so high that they cancel the advantage of charging more. c. Production/ distribution costs must fall as sales volume increases. d. Competitors shouldn’t be able to enter market easily and undercut the high price 6. Match the product line pricing strategies in Table 1 with their correct descriptions in Table 2. I. Optional Product Pricing A. A set of products, oﬀers them to customers in a package, and then usually (but not always) prices the package lower than the sum of the individual components. II. Captive-product Pricing B. It involves products that must be used along with the main product. III. Product Price Bundling C. Pricing accessory products sold with the main product. Table 1 Table 2 a. I - A, II - B, III - C b. I - C, II - B, III - A c. I - B, II - A, III - C d. I - B, II - C, III – A 7. Kimberly-Clark attempted a 5 percent price increase by reducing the number of diapers in each package of its Huggies brand. What is this policy called when companies raise prices without explicitly increasing the listed price? a. Price Skimming b. Penetration Pricing c. Hidden Price Increase d. Price Discrimination 8. Identify the pricing strategies X, Y, and Z missing in the diagram below. Price High Medium Low Premium High Y Super Value Strategy Product Quality strategy Medium value Medi um Good value strategy X Strategy False economy Low Rip-off Strategy Z strategy a. High gain strategy, High Value Strategy, True economy strategy b. Overcharging strategy, High Value Strategy, Overﬂowing economy strategy c. Overcharging strategy, High Value strategy, Economy Position d. Undercharging strategy, Low Value strategy, Economy Position 9. These are the six steps in determining the price of an item. Which step is incorrect? a. Determine pricing objectives. b. Study costs. c. Estimate demand. d. Ignore competition. e. Decide on a pricing strategy. f. Set price. 10. Which among the following statement is NOT true for Push marketing strategy? a. Producer creates demand for the product b. Aims promotional activity to channel members c. Each channel member promotes to next channel member d. Consumer demands product from retailer. Product and Brand Management Week 7 1. As discussed in class, there are four dimensions for innovation. Match each dimension listed in Table 1 with its correct description in Table 2. I. Product A. Changes in the context into which the products/services are introduced. II. Process B. Changes in the things an organization offers. III. Position C. Changes in the ways offerings are created and delivered. IV. Paradigm D. Changes in the underlying mental models which frame what the organization does. Table 1 Table 2 a. I - D, II - B, III – A, IV - C b. I - A, II - D, III – C, IV - B c. I - B, II - A, III – D, IV - C d. I - B, II - C, III – A, IV – D 2. Statement 1: Incremental Innovation occurs when new products or services use existing technology to create new markets and/or new consumers that did not purchase that item before. Statement 2: Architectural Innovation occurs when firms introduce offerings that are so unique and superior that they threaten to replace traditional approaches. a. Statement 1 is True, and Statement 2 is false. b. Statement 1 is False, and Statement 2 is True. c. Both statements are false. d. Both statements are true. 3. Which type of innovation takes place when both the market and the technology are new? a. Incremental Innovation b. Disruptive Innovation c. Architectural Innovation d. Radical Innovation 4. Which of the following correctly identifies the three color-coded categories in the Ten Types framework? a. Strategy, Design, Market b. Configuration, Offering, Experience c. Innovation, Development, Execution d. Product, Process, Service 5. What do the two pillars of the next generation of innovation, N=1 and R=G, represent? a. Personalized co-created customer experiences and global resource availability b. One-size-fits-all solutions and regional customization c. National markets and regional economies d. Network-based innovation and resource generation 6. ___________ means interpreting one’s own interpretations, looking at one’s own perspective from other’s perspective, and turning a self-critical eye onto one’s own authority as an interpreter and author. a. Reflexivity b. Objectivity c. Subjectivity d. Pragmatism 7. Identify the X, Y, and Z stages of the consumer adoption process in the diagram. a. Define, Ideate, and Prototype b. Awareness, Evaluation, and Adoption c. Idea generation, Initial design and Usage d. Agreement, Arrangements, and Assessments 8. ____________ is a method for deriving the utility values that consumers attach to varying levels of a product's attributes. a. Business Analysis b. Concept testing c. Marketing Strategy Development d. Conjoint analysis 9. Which of the following lists the five components commonly associated with gaining insight? a. Connections, Contradictions, Coincidences, Curiosity, and Creative Desperation b. Context, Clarity, Consistency, Creativity, and Collaboration c. Complexity, Comparison, Communication, Calculation, and Consensus d. Communication, Coordination, Computation, Conceptualization, and Critique 10. ________ is a process that combines discovering an opportunity, blueprinting an idea to seize that opportunity, and implementing that idea to achieve results. a. Invention b. Incubation c. Innovation d. Commercialization Product and Brand Management Week 8 Q1) Which statement best describes the relationship between a product and a brand? A) A product is an intangible item, while a brand is a tangible concept. B) A product represents a specific offering, while a brand encompasses the overall image and perception associated with that offering. C) A product is designed for acquisition, while a brand is designed for consumption. D) A product focuses on satisfying needs, while a brand focuses on satisfying wants. Q2) What was the strategy behind the "One Nation, One Water" campaign by “Bisleri”? A) To promote Bisleri as the only brand of bottled water available. B) To emphasize the purity and hygiene of Bisleri water. C) To connect with people from different regions by using labeling in various languages. D) To highlight the affordability of Bisleri water compared to other brands. Q3) Who provided the following definition of a brand: "the product or service of a particular supplier which is differentiated by its name and presentation"? A) Murphy B) Aaker C) Philip Kotler D) Theodore Levitt Q4) Which brand is associated with the slogan "Share Moments, Share Life," invoking memories of special occasions? A) Fujifilm B) Nikon C) Canon D) Kodak Q5) ………… reflects the brand’s ability to influence the behavior of the relevant market entities—its target customers, its collaborators, and the company employees. A) Brand equity B) Brand value C) Brand image D) Brand Power Q6) What does brand familiarity refer to? A) The size of the company B) The number of products sold by the company C) How well-known a company is D) The company's market share Q7) Which of the following is one of David Aaker’s 10 Attributes of Brand Equity? A) Cost Efficiency B) Differentiation C) Product Variety D) Employee Retention Q8) What does the CBBE concept primarily focus on? A) The financial performance of the brand B) The internal operations of the company C) The consumer's perception and response to the brand D) The advertising and promotional strategies Q9) Which of the following is/are NOT a reason why brands matter to consumers? 1) Identification of the source of the product. 2) Assignment of responsibility to the product maker. 3) Increasing the operational costs of the product maker. 4) Reducing search costs for the consumer. 5) Brands reduces the production costs for manufacturers. Select the correct answer using the codes given below: Codes- A) 3 and 5 B) 2, 3, and 5 C) 2 and 3 D) 5 only Q10) What is the primary goal of strategic brand management? A) To increase production efficiency B) To design and implement marketing programs and activities C) To enhance customer service quality D) To focus solely on product development Product and Brand Management Week- 9 Q1) Which of the following is true regarding brand awareness? A) Brand awareness consists of brand loyalty and brand differentiation. B) Brand awareness involves brand recognition and brand recall performance. C) Brand awareness is solely about the financial value of a brand. D) Brand awareness focuses on product development and innovation. Q2) Which of the following best describes brand image? A) The physical appearance of the brand B) The sales revenue generated by the brand C) Perception of a brand in the minds of persons. D) The legal protection of the brand name Q3) Which of the following is an example of a brand that consumers may value for its symbolic benefits? A) A generic grocery brand B) An affordable, no-name clothing line C) Brands like PUMA, ADIDAS, MONTE CARLO D) A local hardware store Q4) Which of the following is an example of competitive framing? A) Apple defining the value proposition of its Mac computers relative to their competitors B) BMW positioning itself as "The ultimate driving machine" C) Walmart's focus on everyday low prices with "Save money live better" D) Procter & Gamble positioning Gillette Fusion as superior to Gillette Mach3 Q5) A ……………. is a particular portion of the total population which is identified by the marketer or retailer to be the most likely to purchase its products or services. A) Target market B) Market segment C) Niche market D) Consumer base Q6) What are Points of Parity (POPs) in brand positioning? A) Associations that are unique to the brand and differentiate it from competitors B) Associations that are exclusive to the brand and cannot be found in other brands C) Associations that are not necessarily unique to the brand and may be shared with other brands D) Associations that are specific to the brand's origin or heritage Q7) What is the primary focus of Brand Judgment in the Brand Resonance Model? A) Consumer loyalty and attachment B) Consumers' personal opinions and evaluations of the brand C) The brand's visual and auditory elements D) The product's physical performance Q8) Which of the following is NOT a stage in the Brand Value Chain? A) Marketing Program Investment B) Customer Mind-Set C) Shareholder value D) Market Segmentation Q9) Which of the following is the program quality multiplier? A) Relevance B) Channel support C) Risk profile D) Growth potential Q10) Which question corresponds to the brand meaning concept in the Brand Resonance Model? A) Who are you? B) What are you? C) What about you? D) What about you and me? Product and Brand Management Week 10 Q1) Which of the following is NOT a factor to keep in mind while naming a brand? A) Familiarity and Meaningfulness B) Use of complex and abstract words to intrigue customers C) Differentiated, Distinctive, and Unique D) Brand Awareness and Associations Q2) Which semantic device does "Starbucks" utilize in naming brand? A) Metaphor B) Personification C) Oxymoron D) Alliteration Q3) What does a URL (uniform resource locator) specify? A) The content of a webpage B) The location of a webpage on the Web C) The security of a webpage D) The design of a webpage Q4) How does the human element of brand characters enhance the brand? A) By making the brand more informative B) By making the brand more professional C) By enhancing likeability and creating perceptions of the brand as fun and interesting D) By enhancing product durability Q5) Which brand uses the slogan "Because we’re worth it"? A) Bajaj B) State Bank of India (SBI) C) L'Oréal D) Nike Q6) What distinguishes jingles from other brand elements? A) They are visual in nature B) They are written messages C) They are musical messages D) They are transferable across cultures Q7) What is meant by "Yielding" in the context of the Information Processing Model of Communications? A) Noticing communication B) Understanding the intended message C) Responding favorably to the message D) Seeing or hearing communication Q8) If a consumer feels that a brand does not make them think, which aspect of brand experience is being described? A) Sensory B) Behavioral C) Intellectual D) Affective Q9) Co-branding occurs when: A) A new brand is created without any association with existing brands B) Two or more existing brands are combined into a joint product or marketed together C) A brand is retired from the market D) A brand is repositioned in the same category Q10) Which of the following best describes the concept of a brand audit? A) Internally focused B) Product-focused C) Customer-focused D) Sales-focused Product and Brand Management Week 11 Q1) What is one of the key steps involved in developing a brand architecture strategy? A) Conducting market research on competitors B) Defining brand potential C) Implementing employee training programs D) Increasing shareholder dividends Q2) In a brand-product matrix, what do the rows primarily represent? A) Customer demographics B) Competitor analysis C) Brand-product relationship D) Product-brand relationship Q3) What is another term for the single-brand strategy where a company uses the same brand across diverse offerings? A) Multi-brand strategy B) Sub-branding C) Umbrella branding D) Brand differentiation Q4) Nestlé uses distinct brands derived from its name—Nescafé, Nesquik, Nestea, and Nespresso—to identify the different offerings in its product line. which brand portfolio strategy does Nestlé primarily employ? A) Single-brand strategy B) Multi-brand strategy C) Brand extension D) Co-branding Q5) What is a key advantage of using a multi-brand strategy (house of brands)? A) Limited possibility of a negative halo B) Significant resource investment C) Long time horizon D) Unutilized brand portfolio synergies Q6) What is the primary purpose of conjoint analysis in marketing research? A) To forecast quarterly sales revenue B) To analyze competitors' pricing strategies C) To profile the consumer decision process concerning products and brands D) To track customer satisfaction levels Q7) Which approach to brand valuation emphasizes the discounted future cash flow from the brand's future earnings stream? A) Cost approach B) Market approach C) Income approach D) Profit approach Q8) Which of the following method assume theoretically a company does not own the brand it operates under but instead licenses the use from another. A) Royalty relief method B) Excess margin C) Volume premium method D) Conversion method Q9) __________ refers to the strategy of stretching the meaning of a brand by associating it with a type of offering that the brand has not been associated with in the past. A) Co-branding B) Brand extension C) Brand dilution D) Brand reinforcement Q10) When a new brand is combined with an existing brand, the brand extension can also be called: A) A co-brand B) Parent brand C) A sub-brand D) A brand merger Product and Brand Management Week- 12 Q1) In brand management continuum, which strategy is characterized by a brand undertaking activities to stay relevant in a changing environment? A) Reposition B) Revitalise C) Reinforcement and Remind D) Relaunch Q2) ____________ are general evaluations based on beliefs or automatic affective reactions. A) Brand loyalty B) Consumer preferences C) Attitudes D) Purchase intentions Q3) A consumer who continues to purchase Nike sports apparel and footwear despite the availability of cheaper alternatives demonstrates: A) Brand awareness B) Brand image C) Brand loyalty D) Brand repositioning Q4) Which part of the Brand Management Continuum involves strategies that are increasingly revolutionary, reactive, risky, and potentially costly? A) The first 3 ⅟2 strategies B) The last 3 ⅟2 strategies C) The first 2 ⅟2 strategies D) The reinforce strategy Q5) Value-oriented repositioning is particularly beneficial for a brand when: A) It aims to increase its market share through aggressive pricing strategies. B) It wants to expand its product portfolio without changing its core value proposition. C) Competing against products in the unorganized sector and has established a strong value proposition. D) It plans to launch premium products to target high-income consumers. Q6) What does rebranding typically involve? A) Adjusting prices of products B) Hiring new employees C) Changing the identity of the brand D) Opening new branches Q7) A sense of achievement gained from wearing a shirt is an example of: A) Symbolic utility B) Constitutive utility C) Practical utility D) Functional utility Q8) What phenomenon occurs when consumers become less excited or bored over time with the symbol of their success? A) Reflexive Effect B) Boredom Effect C) Wellbeing Effect D) Symbolic Utility Q9) Patanjali’s brand salience is primarily based on: A) Technological innovation B) Natural with Ayurvedic properties C) Luxury and opulence D) High-tech products Q10) What type of utility refers to the material and physical benefits a product provides? A) Symbolic utility B) Emotional utility C) Constitutive utility D) Social utility

Product and Brand Management Week 1 PDF

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