Which of the followings describe the stage of problem recognition of the purchase decision process? Select all that apply. 1) It is the fourth stage of the purchase decision process. 2) It occurs when difference between current state and ideal (desired) state exists. 3) Buyers search their memories for information about products. 4) It occurs when buyers decide from whom to buy. 5) Marketers use advertising and packaging to help trigger recognition of needs or problems. Coca-Cola's share a coke with your family and friends campaign would satisfy a need in the Maslow's hierarchy of needs. physiological safety self-actualization social personal 1) The advantage of licensing is it is low risk and a capital free entry into a foreign country. 2) It is about producing products in one country and selling them in another country. 3) Licensees pays royalty and fees to licensor. 4) The disadvantage of licensing is it has the biggest financial risks compared to other global market entry strategies. Question 10 (1 point) LVMH group owns many different brands such as Louis Vuitton, Hermes, Christian Dior, and Hennessy and each of the brand is intended for a different market segment. It is an example of sub-branding brand extension brand dilution co-branding multibranding Which of the following statements are true of brand equity? Select all that apply. 1) Brand equity does not offer advantages to brand. 2) Strong brand equity offers opportunities for brand leverage (e.g., brand extension). 3) Brand equity is the reflection of value that brand name holds. 4) Brand awareness is not related to brand equity. Question 12 (1 point) We shouldn't conduct marketing research to identify marketing opportunities. True False Question 13 (1 point) Which of the followings are true of primary data? Select all that apply. Observational data is an example of primary data. Advantages of primary data are time savings and the low cost. Primary data include facts that are newly collected for the project. The main marketing objective of the maturity stage of the product life cycle is to gain awareness. True False Question 17 (1 point) Saved Private branding offers higher profit margins to retailers. True False Question 18 (1 point) Which of the followings describe a joint venture? Select all that apply. 1) It offers right to a trademark, patent, trade secret, or intellectual property. 2) It is about a firm investing in and owning a foreign division. 3) It is about a foreign company and a local firm investing together. 4) It helps a firm access to new foreign markets and distribution networks. In 2006, Nike and Apple teamed up to launch Nike+iPod for their multual benefits. This is an example of co-branding brand extension line extension sub-branding multibranding Question 20 (1 point) Data mining is about extracting information from large databases to find consumer purchasing patterns. True False