Question

1. Which of the following is a reason why brands matter to consumers?

Select one:

a. means of legally producting unique features

b. source of competitive advantage

c. source of financial returns

d. risk reducer

2. A product so basic that it cannot be physically differentiated in the minds of consumers is a(n):

Select one:

a. credence product

b. commodity

c. convenience good

d. shopping good

3. A customer who regularly buys Pink from Victoria's Secret is expressing brand:

Select one:

a. resonance

b. judgement

c. imagery

d. salience

4. Describing an MP3 player as "musical entertainment on the move" focuses on the ____ product level

Select one:

a. expected

b. core

c. generic

d. augmented

5. A product that does not perform up to expectations is an example of ____ risk.

Select one:

a. functional

b. social

c. time

d. financial

Answer 1

1.

Risk reducer

Brands are a sign of quality. As a result, a consumer feels more comfortable and relaxed with a branded product.

2.

Commodity

A commodity is a generic product that consumers fail to (or unwilling to) differentiate between brands

3.

Resonance

Regular purchase of Pink from VS is a sign of loyalty and can be categorized as brand resonance.

4.

Augmented

Musical instrument is the core, physical layout is the generic, the ability to store and play music is expected, and the portability is augmented.

5.

Functional

When a product does not perform up to the expectation, it gives a functional risk.