Quiz 3 Practice Flashcards
Some potential questions that may be asked. This exercises each concept presented. (36 cards)
What is the first step in the positioning process?
a) Analyzing competitors
b) Determining who your target consumers are
c) Differentiating your brand from competitors
d) Identifying the frame of reference
b) Determining who your target consumers are
What does the “frame of reference” refer to in the positioning process?
a) The market share of the competitors
b) The main competitors in the industry
c) The price point of your product compared to competitors
d) The geographic location of your competitors
b) The main competitors in the industry
What does “point of parity” mean in the context of positioning?
a) Identifying the similarities between your product and competitors
b) Identifying the differences between your product and competitors
c) Determining your product’s unique selling points
d) Identifying the geographic location of your competitors
a) Identifying the similarities between your product and competitors
What is a “point of difference” in the positioning process?
a) A unique feature that sets your product apart from competitors
b) A similar feature shared by your product and competitors
c) The overall value proposition of your product
d) The price point of your product compared to competitors
a) A unique feature that sets your product apart from competitors
Which of the following is NOT a step in the positioning process?
a) Determine who your target consumers are
b) Differentiate your brand from competitors
c) Analyze the market share of competitors
d) Determine how your product is similar to competitors
c) Analyze the market share of competitors
Why is it important to determine the “frame of reference” in the positioning process?
a) To understand the price point of your product
b) To identify your product’s unique selling points
c) To understand how your product is perceived by consumers
d) To understand who your main competitors are
- d) To understand who the main competitors are in the industry
What is the main objective of identifying the “frame of reference” in the positioning process?
a) To determine your product’s unique selling points
b) To determine how your product is similar to competitors
c) To identify the geographic location of your competitors
d) To understand who the main competitors are in the industry
d) To understand who the main competitors are in the industry
What is the difference between “point of parity” and “point of difference” in the positioning process?
a) Point of parity refers to similarities with competitors, while point of difference refers to differences.
b) Point of parity refers to differences with competitors, while point of difference refers to similarities.
c) Point of parity refers to similarities with competitors, while point of difference refers to the overall value proposition.
d) Point of parity refers to the overall value proposition, while point of difference refers to similarities with competitors.
a) Point of parity refers to similarities with competitors, while point of difference refers to differences.
What is the importance of identifying the “point of difference” in the positioning process?
a) To determine the geographic location of competitors
b) To understand how your product is similar to competitors
c) To distinguish your brand from competitors on factors important to consumers
d) To understand who the target consumers are
c) To distinguish your brand from competitors on factors important to consumers
Which step in the positioning process involves determining how your product is similar to competitors on factors important to consumers?
a) Determine who your target consumers are
b) Determine the frame of reference
c) Determine the point of parity
d) Determine the point of difference
c) Determine the point of parity
What is the term used to describe consumers who are loyal to one brand and buy it all the time?
a) Hard-core Loyals
b) Split Loyals
c) Shifting Loyals
d) Switchers
a) Hard-core Loyals
Who are “Split Loyals”?
a) Consumers loyal to one brand all the time
b) Consumers loyal to two or three brands
c) Consumers who frequently switch between brands
d) Consumers who are deal-prone
b) Consumers loyal to two or three brands
What characterizes “Shifting Loyals”?
a) Constantly looking for bargains
b) Loyalty to one brand all the time
c) Moving from one brand to another
d) Loyalty to two or three brands
c) Moving from one brand to another
What term describes consumers who have no brand loyalty and are constantly looking for bargains or something different?
a) Hard-core Loyals
b) Split Loyals
c) Shifting Loyals
d) Switchers
d) Switchers
What is the primary behavior of “Hard-core Loyals”?
a) They are always looking for bargains
b) They buy the brand all the time
c) They frequently switch between brands
d) They are loyal to two or three brands
b) They buy the brand all the time
Which consumer group is most likely to be labeled as “Switchers”?
a) Hard-core Loyals
b) Split Loyals
c) Shifting Loyals
d) Consumers who are deal-prone
d) Consumers who are deal-prone
Which of the following groups is most likely to exhibit brand loyalty?
a) Hard-core Loyals
b) Split Loyals
c) Shifting Loyals
d) Switchers
a) Hard-core Loyals
What distinguishes “Switchers” from other types of consumers?
a) They buy the brand all the time
b) They are loyal to two or three brands
c) They frequently switch between brands
d) They have no brand loyalty
d) They have no brand loyalty
What behavior is typical of “Split Loyals”?
a) They are loyal to one brand all the time
b) They are deal-prone
c) They move from one brand to another
d) They are loyal to two or three brands
d) They are loyal to two or three brands
Which type of consumer is most likely to stick with a brand even when it is not the most convenient option?
a) Hard-core Loyals
b) Split Loyals
c) Shifting Loyals
d) Switchers
a) Hard-core Loyals
What is the primary characteristic of mass marketing?
a) It focuses on targeting a specific niche market
b) It involves marketing to a broad, undifferentiated audience
c) It requires the use of advanced analytics
d) It involves creating customized marketing messages for each customer
b) It involves marketing to a broad, undifferentiated audience
What distinguishes strategic segmentation from other segmentation approaches?
a) It involves dividing the market into two distinct segments
b) It involves creating multiple segments, usually between 2 and 10
c) It involves creating 200 micro-segments
d) It involves targeting each segment with a personalized marketing message
b) It involves creating multiple segments, usually between 2 and 10
How many segments are typically created in strategic segmentation?
a) 2
b) 5
c) 10
d) 200
c) 10
What is the main objective of micro-segmentation?
a) To target a broad, undifferentiated audience
b) To divide the market into smaller, more homogeneous segments
c) To create 200 micro-segments
d) To customize marketing messages for each customer
b) To divide the market into smaller, more homogeneous segments
