2. Your company wants to find out if people know about their newest product Snacksalicious. Which type of survey question would help determine this?

a. Brand image

b. Brand identification

c. Brand differentiation

d. Brand awareness

ANSWER: _____

13. Which would be an example of a brand building value because of identification?

a. Consumers have strong associations with the brand

b. Consumers have had favorable experiences with the brand

c. Consumers connect the brand with popular celebrities in their mind

d. Consumers recognize the product on store shelves

ANSWER: _____

14. In this branding strategy for a company, all company products (or family of products) are branded under a single brand identity. The products will likely have similar packaging and brand associations.

a. Product Branding

b. Individual Branding

c. Sub-Branding

d. Umbrella Branding

ANSWER: _____

15. You notice that all of the product lines from a particular company have very different packaging and labels. In fact, you even had to research to find out which company produced some of the products you didnt see the company name anywhere! This company is likely employing which level of strategic branding?

a. Sub-Branding

b. Individual Branding

c. One-Name Branding

d. Umbrella Branding

ANSWER: _____

16. Which of the following types of retail stores features narrow and deep product lines that are related to a particular product area or brand?

a. Department store

b. Big-box store

c. Specialty store

d. Convenience store

ANSWER: _____

17. JJs Juices offers a variety of juice flavors, including grape, apple, orange, and cranberry. The number of different product variations or flavors in one product line is an example of which concept?

a. Product assortment

b. Product depth

c. Product width

d. Product line

ANSWER: _____

18. What is meant by the term product width?

a. The number or variety of product lines that a store offers

b. The number of individual products in a product line

c. A group of related products marketed and sold by the same company under the same brand

d. The range of choice offered to the consumer within a particular product category

ANSWER: _____

19. Tanner has just opened his first retail store, and hes trying to decide on the best layout. If Tanner wants the aisle and flow of traffic to be a clearly defined loop and for customers to see a majority of the merchandise, which of the following layouts is the best fit for Tanners needs?

a. Grid

b. Free-flow

c. Racetrack

d. Spine

ANSWER: _____

20. Connor is developing a new floor plan and engaging displays for his store to help maximize sales. What is this an example of?

a. Research and development

b. Planograms

c. Visual merchandising

d. Product placement

ANSWER: _____

21. The definition of value is:

a. The price of a product or service

b. The amount a marketer needs to price a product in order to cover expenses at a certain quantity sold

c. What the product or service is worth to the customer

d. How much a product or service is actually worth

ANSWER: _____

22. A break-even point is:

a. The point where revenues equal expenses

b. The dollar amount a marketer needs to price a product

c. A pricing method

d. The first step to developing a pricing structure

ANSWER: _____

23. While cost-based pricing starts with the product (cost) at the beginning of the calculation, value-based pricing starts with the customer. What does this mean?

a. Value-based pricing is based on the value the vendor places on his product

b. Value-based pricing is based on the value it took to make the product, rather than just the monetary cost

c. Value-based pricing is based on the price competitors use

d. Value-based pricing is based on what benefits the customer receives from the product, rather than the cost to the producer

ANSWER: _____

24. What is the main appeal of bundle pricing to the consumer?

a. It offers the same benefits as la carte pricing.

b. Bundle pricing is usually priced above what the consumer would pay to buy each item individually

c. Bundle pricing is usually priced below what the consumer would pay to buy each item separately

d. Bundle pricing offers greater consumer choice, like la carte pricing

ANSWER: _____

25. Why is it important to track customer response to prices?

a. Because pricing too high or too low can lead to drastic changes in demand, and must therefore be compensated for

b. Its not important. All pricing research should be done theoretically, before the product launch

c. Because deciding the base price for a product is a good reference of how strategic your companys understanding of their own product is

d. Because it is important to track customer response to prices

ANSWER: _____