BBM Marketing Management 2

Question 1

What does 'brand equity' mean?

Accepted Answer

The monetary value of a company's brand assets

Answer

Brand equity is the commercial value derived from consumer perception of a brand name, including loyalty, awareness, perceived quality, and associations.

Question 2

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

Accepted Answer

Intensive distribution

Answer

Intensive distribution places products in the maximum number of outlets to ensure widespread availability, typically used for convenience goods.

Question 3

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

Accepted Answer

The distinct benefit that differentiates a product from competitors

Answer

A USP (Unique Selling Proposition) is the specific benefit or feature that makes a product distinctively better or different from competitors.

Question 4

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

Accepted Answer

Running consumer advertising to create demand

Answer

Pull strategy uses consumer-directed advertising and promotions to generate demand that 'pulls' products through the distribution channel.

Question 5

What is 'customer lifetime value' (CLV)?

Accepted Answer

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

Answer

Customer Lifetime Value (CLV) predicts the total net profit attributed to the entire future relationship with a customer.

BBM - Business Management Degree Practice Test

BBM - Business Management Degree Practice Test

BBM Marketing Management 2