MSLE 3500 - Midterm #1 Flashcards by Gillian Bryce

The ways we make purchase decisions

Reflexive
Responsive
Cognitive

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The parts of a brand positioning statement

Target Audience
Benefit
Reason Why

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Why people interact with companies via social media

It adds depth to business-consumer relationships and allow businesses to establish rapport and a sense of trust with consumers

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What “heuristic” means

Mental shortcuts that help ease the cognitive load of making a decision - shapes, colors, logos

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The Five Elements to Create Brand Insistence

Emotional connection
Value
Accessibility
Awareness
Relevant differentiation

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What branding is and why it’s important

Branding is about understanding how your product will make life better

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The three elements that makeup a brand

Brand strategy
Brand positioning
Brand identity

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Which of the following defines BRAND STRATEGY?
a) All the things you do to figure out where your product can be most successful
b) Finding your target audience, the benefit, and the reason why
c) Creating heuristic elements

a) All the things you do to figure out where your product can be most successful

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Which of the following defines BRAND POSITIONING?
a) All the things you do to figure out where your product can be most successful
b) Finding your target audience, the benefit, and the reason why
c) Creating heuristic elements

b) Finding your target audience, the benefit, and the reason why

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Which of the following defines BRAND IDENTITY?
a) All the things you do to figure out where your product can be most successful
b) Finding your target audience, the benefit, and the reason why
c) Creating heuristic elements

c) Creating heuristic elements

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What is the emotional connection every brand strives to make with customers?

what consumer wants
what brand does well
what your competitor does well

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Primary Research

Research done firsthand for the first time

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Secondary Research

Collection of data from second-hand sources

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Qualitative Research

Research that relies on what is seen in field or naturalistic settings more than on statistical data

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Quantitative Research

Research that collects and reports stata primarily in numerical form

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The different types of mission statements

Corporate Mission Statement
Working Mission Statement

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Corporate Mission Statement

Feel good statements developed for the public

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Working Mission Statement

Defines what you do in a simple crisp sentence for a company

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What an operating charter is

A document to carefully construct a type of internal business government - who does what to who

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Marketing Strategy

A defined business goal

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Brand Strategy

Unique benefits your brand offers to the target audience

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Marketing Tactic

The actions you take

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TRUE or FALSE
“Brand” is a term whose meaning is interchangeable with advertising, marketing, namin or design

False

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P&G’s marketers decided to look at consumer needs in the laundry detergent category. Their research revealed the many “needs” consumers identified in choosing a detergent – things like “Everyday Clean”, “Sensitive Skin”, “Cold-Water” washing, or “Color” protection. P&G aligned each detergent brand to meet a particular need and grew its business significantly.

What is the name of the marketing research tool P&G used to perform this analysis?

In-home testing

Segmentation research

Online panel

Focus groups

Concept testing

Customer satisfaction research

Segmentation Research

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TRUE or FALSE Al Ries and Jack Trout, in their Harvard Business Review article: POSITIONING: The battle for your mind, concluded that product superiority is all that mattered to have a successful brand

False

TRUE or FALSE A brand is a customer's experience living at the intersection of promise and expectation

True

TRUE or FALSE Consumers use brand as an identification tool

True

TRUE or FALSE Branding is the act of managing consumers' expectations to condition your target audience to see your offering as the only answer to a specific need

True

TRUE or FALSE Branding has become the backbone of modern business strategy. "Brand" drives consumer purchase decisions and affects nearly every functional area of a business. With the product offerings of many competitors converging into sameness, companies are viewing "brand" as the only avenue of differentiation

True

TRUE or FALSE Brands are built on trust, and trust is rooted in truth

True

In a three-circle analysis, what is the name of the area where "What Your Brand Does Well" and "What the Consumer Wants", called? Benefit Zone Losing Zone Risky Zone Winning Zone Who Cares? Twilight Zone

Winning Zone

Match the descriptor of the Brand Platform with the corresponding name (drag and drop from bottom): Drives Actions Brand Promise Brand Positioning Core Values Target Audience Brand Personality Brand Articulation

Brand Promise

Match the descriptor of the Brand Platform with the corresponding name (drag and drop from bottom): Drives Messaging Brand Promise Brand Positioning Core Values Target Audience Brand Personality Brand Articulation

Brand Positioning

Match the descriptor of the Brand Platform with the corresponding name (drag and drop from bottom): Drives Focus Brand Promise Brand Positioning Core Values Target Audience Brand Personality Brand Articulation

Core Values

Match the descriptor of the Brand Platform with the corresponding name (drag and drop from bottom): Those you desire to take action Brand Promise Brand Positioning Core Values Target Audience Brand Personality Brand Articulation

Target Audience

Match the descriptor of the Brand Platform with the corresponding name (drag and drop from bottom): Drives Responsibility Brand Promise Brand Positioning Core Values Target Audience Brand Personality Brand Articulation

Brand Personality

Match the descriptor of the Brand Platform with the corresponding name (drag and drop from bottom): Drives Relevance Brand Promise Brand Positioning Core Values Target Audience Brand Personality Brand Articulation

Brand Articulation

Match the descriptor with the correct name. (drag and drop from bottom): Defines the unique benefits your brand offers to the target audience Brand Strategy Marketing Tactics Marketing Strategy

Brand Strategy

Match the descriptor with the correct name. (drag and drop from bottom): The actions you take to execute Brand Strategy Marketing Tactics Marketing Strategy

Marketing Tactics

Match the descriptor with the correct name. (drag and drop from bottom): Has a defined business goal, i.e. increase sales Brand Strategy Marketing Tactics Marketing Strategy

Marketing Strategy

What are the three parts of a brand positioning statement? Brand Name Benefit Distribution channels Reason Why Package Design Target Audience

Benefit Reason Why Target Audience

TRUE or FALSE The reason why should explain how your product can deliver the benefit you're claiming - explaining it in clear and simple terms (kitchen logic)

True

TRUE or FALSE There's no need to start your benefit statement with the name of the product

False

TRUE or FALSE When defining your target audience, you only do so in psychographic terms ( i.e. football fans, outdoor types, animal lovers, homemakers, working women)

False

Benefits tend to fall into one of two areas. What are they? (Multiple answers. Mark all that apply) Wonderful Functional Demographic Rational Psychological

Functional Psychological

What is the emotional connection we seek to forge between our products, services, and customers? Product superiority Dependence Resiliency Heart warming Trust

Trust

There are three primary ways consumer make purchase decisions. Please match the correct descriptor to the name (drag and drop from bottom): We exert significant mental energy Cognitive Choice Responsive Choice Reflexive Choice

Cognitive Choice

There are three primary ways consumer make purchase decisions. Please match the correct descriptor to the name (drag and drop from bottom): Reacting to something we've heard or seen Cognitive Choice Responsive Choice Reflexive Choice

Responsive Choice

There are three primary ways consumer make purchase decisions. Please match the correct descriptor to the name (drag and drop from bottom): Decisions are made without thinking Cognitive Choice Responsive Choice Reflexive Choice

Reflexive Choice

TRUE or FALSE In branding, its important to make your product / service stand out in the marketplace as different, better, and special

True

TRUE or FALSE The world's best marketing companies all have secret internal missions developed that are called "Stimulus Mission Statements"

False

TRUE or FALSE Dr. Edward Deming, the father of quality management system engineering, notes 64% of problems in most corporations are due to poor systems

False

Match the correct statement with its descriptor: This document to carefully construct a type of internal business government, complete with checks and balances Operating Charter Working Mission Statement Corporate Mission Statement

Operating Charter

Match the correct statement with its descriptor: They define "what you do" in a single crisp, clear and memorable sentence Operating Charter Working Mission Statement Corporate Mission Statement

Working Mission Statement

Match the correct statement with its descriptor: Feel-good statements developed for public consumption Operating Charter Working Mission Statement Corporate Mission Statement

Corporate Mission Statement

TRUE or FALSE The working mission statement is just something to be tacked up on the wall. Nobody needs to pay attention to it

False

Please mark all of the elements of an Operating Charter (multiple answers - mark all that apply): Feel-good statements developed for public consumption Personal Mission Statement Primary Objectives Quantifiable Measures of Success Aspirations Secondary Objectives Corporate Mission Statement Working Mission Statement Scope Constraints Brand Positioning Statement

Primary Objectives Quantifiable Measures of Success Aspirations Secondary Objectives Scope Constraints

TRUE or FALSE Marketing is about understanding customers, understanding their lives, and understanding how your product or service can fit into their life to make their life better

True

TRUE or FALSE Market research tries to be objective to eliminate bias and give you a truthful snapshot of the marketplace and consumers

True

Match the market research description with the correct name of the type of research: Research someone else has already done Secondary research Quantitative research Primary research Online panel Focus group Concept testing Test market Surveys Segmentation Qualitative research

Secondary Research

Match the market research description with the correct name of the type of research: Research done on a large sample of people Secondary research Quantitative research Primary research Online panel Focus group Concept testing Test market Surveys Segmentation Qualitative research

Quantitative Research

Match the market research description with the correct name of the type of research: Research developed and conducted by you Secondary research Quantitative research Primary research Online panel Focus group Concept testing Test market Surveys Segmentation Qualitative research

Primary Research

Match the market research description with the correct name of the type of research: Individuals who accepted to respond to market research online Secondary research Quantitative research Primary research Online panel Focus group Concept testing Test market Surveys Segmentation Qualitative research

Online Panel

Match the market research description with the correct name of the type of research: Gather a group of customers in a room and discuss marketing/marketplace issues Secondary research Quantitative research Primary research Online panel Focus group Concept testing Test market Surveys Segmentation Qualitative research

Focus Group

Match the market research description with the correct name of the type of research: To test the acceptance of a new idea by target consumers Secondary research Quantitative research Primary research Online panel Focus group Concept testing Test market Surveys Segmentation Qualitative research

Concept testing

Match the market research description with the correct name of the type of research: A small-scale product launch Secondary research Quantitative research Primary research Online panel Focus group Concept testing Test market Surveys Segmentation Qualitative research

Test market

Match the market research description with the correct name of the type of research: Designed to develop quantitative, projectable data Secondary research Quantitative research Primary research Online panel Focus group Concept testing Test market Surveys Segmentation Qualitative research

Surveys

Match the market research description with the correct name of the type of research: Determine demographic, psychographic, and behavioral characteristics Secondary research Quantitative research Primary research Online panel Focus group Concept testing Test market Surveys Segmentation Qualitative research

Segmentation

Match the market research description with the correct name of the type of research: Research done on a few people Secondary research Quantitative research Primary research Online panel Focus group Concept testing Test market Surveys Segmentation Qualitative research

Qualitative Research

TRUE or FALSE One of the best ways to develop competitive advantage is to cross-pollinate ideas you steal from other companies or categories and twist them into your own idea

True

TRUE or FALSE Marketing professionals have nothing to gain by paying attention in everyday life -- watching TV commercials, browsing in stores, and talking with friends and family

False

TRUE or FALSE Researchers have invented ingenious techniques to get in tune with the consumer. Consumers have been ambushed, bar coded, spied upon and even hypnotized in the quest for information. Companies pour millions of dollars into research yearly to help them understand what consumers are thinking and how the marketplace is changing

True

TRUE or FALSE Its marketing's job to make sure that consumers have a seamless experience with brands, products and services at all touch points - digital - analog - and personal

True

TRUE or FALSE While the tactics used to execute marketing plans constantly evolve - for example, the emerging opportunities with digital marketing, artificial intelligence, social media, social influencers and mobile smartphone marketing are new tools still evolving - the strategies that lead to successful marketing plans have remained surprisingly consistent over time

True

TRUE or FALSE Futurists say as a rule of thumb, 75% of the jobs that will be available ten years from now haven't been invented yet

False

TRUE or FALSE Great marketers develop and foster interaction with their customers wherever they are

True

TRUE or FALSE You can promote your products / services without them having to be "branded". They will still have meaning to customers

False

A brand story is a platform from which recognition, loyalty and revenue is driven. What are the core components of a brand? (Multiple answers. Mark all that apply) Brand strategy Brand traditions Brand correlation Brand identity Brand positioning

Brand Strategy Brand Identity Brand Positioning

TRUE or FALSE The branding process starts with research among consumers and the marketplace, which leads to identifying the target consumer, then developing a differentiated brand positioning strategy

True

TRUE or FALSE Advertising to youth -- Generation Z and Millennials -- is easy. They listen to a lot of radio, read extensively, and watch a lot of TV

False

First part of a Brand Positioning Statement Target Audience Benefit Reason Why

Target Audience

Second part of a Brand Positioning Statement Target Audience Benefit Reason Why

Benefit

Third part of a Brand Positioning Statement Target Audience Benefit Reason Why

Reason Why

Number one reason people say they interact with companies via social media is to: Ask questions Do product research Get a discount Read reviews

Get a Discount

Trust = ?

Truth/Time

Products are made in factories. Brands are made in _____________________?

The Mind

What THREE things need to connect to be the key to a strong brand?

Promise Expectation Customer Experience

MSLE 3500 - Midterm #1 Flashcards

(87 cards)