BBM Marketing Management 2

Question 1

What does 'brand equity' mean?

Accepted Answer

The monetary value of a company's brand assets

Answer

The total advertising spend on a brand

Answer

The number of product lines under a brand

Answer

The geographic reach of a brand

Question 2

Which distribution strategy makes a product available in as many outlets as possible?

Accepted Answer

Intensive distribution

Answer

Exclusive distribution

Answer

Selective distribution

Answer

Direct distribution

Question 3

What is a 'unique selling proposition' (USP)?

Accepted Answer

The distinct benefit that differentiates a product from competitors

Answer

A legal trademark for a company's slogan

Answer

The lowest price in the market

Answer

A guarantee of product quality

Question 4

Which of the following is an example of 'pull' marketing strategy?

Accepted Answer

Running consumer advertising to create demand

Answer

Offering trade discounts to retailers

Answer

Training the sales force to push products

Answer

Providing in-store promotional displays

Question 5

What is 'customer lifetime value' (CLV)?

Accepted Answer

The total revenue a customer generates over their entire relationship with a company

Answer

The age of a customer relationship

Answer

The cost of acquiring a new customer

Answer

The average purchase value per transaction

Question 6

What does 'market share' measure?

Accepted Answer

A company's sales as a percentage of total industry sales

Answer

The total size of a market in dollar value

Answer

The growth rate of a market over time

Answer

The number of competitors in a market