Question

1. An example of a tangible product is a) consulting advice b) the symphony c) banking d) clothing e) travel

2. What are the most important demographic trends to be considered by toy manufacturers? a) Extending life expectancy b) Growing urban population c) Declining birth rates d) Growing international migration e) Rise of single-women households

3. An example of a tangible product is a) consulting advice b) the symphony c) banking d) clothing e) travel

4. The US-China trade war and tariffs will mostly affect companies who manufacture their products in the US a) True b) False

5. Brands depicted as points in the positioning matrix close together are those perceived as a) expensive b) high-quality c) similar d) different

6. Recent outbreak of coronavirus COVID-19 can be classified as a __________ environment factor a) Technological b) Economic c) Political d) Demographic e) Natural

7. Jen is developing the positioning for a new line of sunglasses. In a meeting, the marketing team tells Jen that she has clearly expressed the competitive advantage of the brand so that it can be used in dialogues and communications. Which element of crafting the positioning has Jen’s team just approved? a) positioning statement b) target marketing c) target segmenting d) unique selling proposition

8. P&G introduced Folger’s Instant Coffee Singles for people who live alone and don’t need to brew a full pot of coffee at a time. This is segmentation based on: a) Income b) Social class c) Family life cycle d) Culture e) Personality

Answer 1

1. An example of a tangible product is d) clothing

Reason: As it can be touched and felt

2. What are the most important demographic trends to be considered by toy manufacturers?

c) Declining birth rates

Reason: As toy manufacturers will only be interested in birth rates, which would shape demand curve for their products

3. An example of a tangible product is d) clothing

Reason: As it can be touched and felt

4. The US-China trade war and tariffs will mostly affect companies who manufacture their products in the US: FALSE

Reason: As producers of both countries with be affected almost equally

5. Brands depicted as points in the positioning matrix close together are those perceived as: different

Reason: Brands located closely in positioning matrix are different from each other

6. Recent outbreak of coronavirus COVID-19 can be classified as a __________ environment factor

e) Natural

Reason: As it a natural disaster

7. Jen is developing the positioning for a new line of sunglasses. In a meeting, the marketing team tells Jen that she has clearly expressed the competitive advantage of the brand so that it can be used in dialogues and communications. Which element of crafting the positioning has Jen’s team just approved?

d) unique selling proposition

USP is the special feature which makes one product or business better than its competitor in the market. Here, since Jen has developed a competitive advantage of the new sunglasses brand making the company to sell their products. This makes it an example of USP.

8. P&G introduced Folger’s Instant Coffee Singles for people who live alone and don’t need to brew a full pot of coffee at a time. This is segmentation based on:

c) Family life cycle

Reason: As the product is marketed based on where the person stands in family life cycle i.e. bachelorhood