Marketing Midterms Reviewer v52

2,581 views

Published on

Review Questions for Marketing Management

Published in: Education, Business
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
2,581
On SlideShare
0
From Embeds
0
Number of Embeds
1,692
Actions
Shares
0
Downloads
0
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Marketing Midterms Reviewer v52

  1. 1. LEARNING by COACHING Midterm Exam Reviewer for Marketing Management from Questions submitted by v52 students Compiled and Edited byProf. Remigio Joseph A. De Ungria Jr., MBA Ateneo Graduate School of Business
  2. 2. Professor’s Note:These test questions were…. Made by students, for students. Selected from the hundreds of questions Chosen since these demonstrate key marketing concepts Posted on-line ahead of the test, to encourage students to prepare for the midterms instead of using common sense and luck. May be modified during the actual exam so that the right answer becomes different.
  3. 3. Exam Tip:Learn the ConceptDon’t Memorize the Answer
  4. 4. 1. Marketing is a set of process for creating,communicating and delivering ____ tocustomers.A. GoodsB. ServicesC. ValueD. Goods and ServicesE. Information
  5. 5. 1. Marketing is a set of process for creating,communicating and delivering ____ tocustomers.A. GoodsB. ServicesC. ValueD. Goods and ServicesE. Information
  6. 6. 2. All are marketed exceptA. EventsB. ExperiencesC. OrganizationD. IdentityE. People
  7. 7. 2. All are marketed exceptA. EventsB. ExperiencesC. OrganizationD. IdentityE. People
  8. 8. 3. Potential market, available market, target market, and penetrated market are measures of _________.A. Market demandB. Market supplyC. Market groupD. Market sizeE. None of the above 8
  9. 9. The Measures of Market Demand Potential Available Market Market Target Penetrated Market Market
  10. 10. Market Demand MARKET DEMAND is the total volume bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program
  11. 11. Market Demand Potential Market- set of consumers who express an interest Available Market - potential plus income and access Target Market– market the firm decides to pursue Penetrated Market- consumers who are buying product
  12. 12. 3. Potential market, available market, target market, and penetrated market are measures of _________.A. Market demandB. Market supplyC. Market groupD. Market sizeE. None of the above 12
  13. 13. 4. Why should the following question not be included in a questionnaire? What is your income?A. It is not free of bias.B. It uses jargon.C. It is ambiguous.D. It is not simple.E. None of the above. 13
  14. 14. Questionnaire Do’s and Don’ts Ensure questions are  Avoid negatives free of bias  Avoid hypotheticals Make questions simple  Avoid words that could be Make questions specific misheard Avoid jargon  Use response bands Avoid sophisticated  Use mutually exclusive categories words  Allow for “other” in fixed Avoid ambiguous words response questions
  15. 15. Questionnaires It does not specify if the income is annual, weekly, daily, etc.
  16. 16. 4. Why should the following question not be included in a questionnaire? What is your income?A. It is not free of bias.B. It uses jargon.C. It is ambiguous.D. It is not simple.E. None of the above.
  17. 17. 5. Customer survey forms in restaurants can be a measure of the following marketing metrics except:A. Customer satisfactionB. LoyaltyC. Market shareD. All of the AboveE. None of the above 17
  18. 18. Marketing MetricsExternal Internal Awareness  Awareness of goals Market share  Commitment to goals Relative price  Active support Number of complaints  Resource adequacy Customer satisfaction  Staffing levels Distribution  Desire to learn Total number of customers  Willingness to change Loyalty  Freedom to fail  Autonomy
  19. 19. Marketing Metrics Market share is the percentage or proportion of the total available market or market segment that is being serviced by a company. This data cannot be extracted from a customer survey form.
  20. 20. 5. Customer survey forms in restaurants can be a measure of the following marketing metrics except:A. Customer satisfactionB. LoyaltyC. Market shareD. Total number of customersE. None of the above 20
  21. 21. Types of SamplesProbability Samples Nonprobability Samples Simple random  Convenience Stratified random  Judgment Cluster  Quota
  22. 22. Sampling A sample is called simple random sample if each unit of the population has an equal chance of being selected for the sample. Whenever a unit is selected for the sample, the units of the population are equally likely to be selected.
  23. 23. 6. The perceived bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering, including monetary, time, energy, and psychic costs is called the________.A. Perceived usefulnessB. Perceived CostC. Total Customer CostD. Total Perceived CostE. Perceived Customer Price 23
  24. 24. Total Customer CostTotal customer cost The perceived bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering, including monetary, time, energy, Monetary cost and psychological costs . Time cost Energy costPsychological cost 24
  25. 25. 6. The perceived bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering, including monetary, time, energy, and psychic costs is called the________.A. Perceived usefulnessB. Failure avoidance rateC. Total Customer CostD. Customer perceived valueE. Competitors market share rate 25
  26. 26. 7. Customer perceived value is the difference between the prospective customer’s evaluation of all the _______and all the ______ of an offering and the perceived alternativesA. Benefit & CostB. Price & CostC. Profit & BenefitD. Benefit & PriceE. Profit & Cost 26
  27. 27. Determinants of Customer Perceived ValueTotal customer benefit Total customer cost Product benefit Monetary cost Services benefit Time cost Personal benefit Energy cost Image benefit Psychological cost
  28. 28. 7. Customer perceived value is the difference between the prospective customer’s evaluation of all the _______and all the ______ of an offering and the perceived alternativesA. Benefit & CostB. Price & CostC. Profit & BenefitD. Benefit & PriceE. Profit & Cost 28
  29. 29. 8. While reading a newspaper, Wendy a frequent travellernoticed the Cebu Pacific zero-fare ad, but never noticed thefree trial session ad of Marie France. This is an example of: a. Selective Attention b. Selective Distortion c. Selective Retention d. Selective Awareness e. None of the above 29
  30. 30. Perception Selective Attention  people exposed to a tremendous amount of stimuli tends to screen it out. Selective Distortion  tendency to twist information into personal meanings and interpret information in a way that will fit perceptions. Selective Retention  people will retain information that supports their attitudes and beliefs.
  31. 31. 8. While reading a newspaper, Wendy a frequent travellernoticed the Cebu Pacific zero-fare ad, but never noticed thefree trial session ad of Marie France. This is an example of: a. Selective Attention b. Selective Distortion c. Selective Retention d. Selective Opinion 31
  32. 32. 9. What is the highest need that a mobile phonesatisfies in the Filipino consumer a. Psychological b. Safety c. Social d. Communication e. Physiological 32
  33. 33. Kotler Concept:Maslow’s Hierarchy of Needs
  34. 34. 9. Mobile phone is a relevant product to Filipinoconsumer because it satisfies their _____ needs. a. Psychological b. Safety c. Social d. Communication e. Physiological 34
  35. 35. 10. Problem recognition is the 1st stage of the consumerbuying process. Below is the rest of the process except: a. Information search b. Alternative evaluation c. Purchase decision d. Purchase evaluation e. Post-purchase behavior 35
  36. 36. Consumer Buying Process1. Problem recognition2. Information search3. Evaluation of alternatives4. Purchase decision5. Post-purchase behavior
  37. 37. 10. Problem recognition is the 1st stage of the consumerbuying process. Below is the rest of the process except: a. Information search b. Alternative evaluation c. Purchase decision d. Purchase evaluation e. Post-purchase behavior 37
  38. 38. 11. The following are majorinformation sources to whichconsumers turn to EXCEPTA. ExperientialB. CommercialC. PublicD. ExternalE. Personal 38
  39. 39. Major Information Sources Personal Commercial Public Experiential 11
  40. 40. Major Information Sources Personal • Family, friends, neighbors Sources • Most influential source of information Commercial • Advertising, Sales people Sources • Most prevalent source of information Public • Mass media Sources • Consumer rating groups Experiential • Handling, examining & using the Sources product or service 12
  41. 41. 11. The following are majorinformation sources to whichconsumers turn to EXCEPTA. ExperientialB. CommercialC. PublicD. ExternalE. Personal 13
  42. 42. 12. Buyer’s decisions are influencedby personal characteristics EXCEPTA. NationalityB. Age & Stage in the Life CycleC. Occupation & Economic CircumstancesD. PersonalityE. Lifestyle 14
  43. 43. Personal Factors Age Life cycle Self- stage concept LifestyleOccupation Wealth Values Personality 15
  44. 44. Nationality is a Cultural Factor! S U Nationalities B C U Religions L T Racial groups U R E Geographic regions S 16
  45. 45. 12. Buyer’s decisions are influencedby personal characteristics EXCEPTA. NationalityB. Age & Stage in the Life CycleC. Occupation & Economic CircumstancesD. PersonalityE. Lifestyle 17
  46. 46. 13. A Filipina who recently postponedher trip to HK was influenced by thistype of riskA. Psychological RiskB. Physical RiskC. Financial RiskD. Social RiskE. All of the above 34
  47. 47. Perceived Risks A consumer’s decision to Time Functionalmodify, postpone, or avoid a Psychological Physical purchase isheavily influenced Social Financial by perceived risks. 35
  48. 48. Perceived RisksDue to the recent hostage incident, Filipinos may cancel their trip to HK because of perceived risks:1. Functional Risk – the product may not perform up to expectations2. Physical Risk – the product poses a threat to the physical well- being of the user/others3. Financial Risk – the product is not worth the price paid4. Social Risk – the product results in embarrassment from others5. Psychological Risk – the product affects the mental well-being of the user6. Time Risk – wasted time in finding a new product in case of product failure 36
  49. 49. 13. A Filipina who recently postponedher trip to HK was influenced by thistype of riskA. Psychological RiskB. Physical RiskC. Financial RiskD. Social RiskE. All of the above 37
  50. 50. of Business MarketsexceptA. Fewer, Larger BuyersB. Elastic DemandC. Fluctuating DemandD. Close supplier-customer relationshipsE. None of the Above 50
  51. 51. 14. All are characteristicsof Business MarketsexceptA. Fewer, Larger BuyersB. Direct and Indirect Purchasing SystemC. Inelastic DemandD. Fluctuating DemandE. Close supplier-customer relationships 51
  52. 52. 15. The first stage in the buying process is usually called:A. Observation of current marketB. General Description of the needC. Product and Supplier SpecificationD. Problem recognitionE. Probing and Identifying the need. 52
  53. 53. 15. The first stage in the buying process is usually called:A. Observation of current marketB. General Description of the needC. Product and Supplier SpecificationD. Problem recognitionE. Probing and Identifying the need. 53
  54. 54. 8 Stage Buying Process (1) problem recognition (2) general need description (3) product specification (4) supplier search (5) proposal solicitation (6) supplier selection (7) order-routine specification (8) performance review
  55. 55. 16. Participants in the business buying process include: (1) initiators (2) users (3) influencers (4) deciders (5) approvers (6) buyers and (7)________ ?A. StakeholdersB. Board of OfficersC. GatekeepersD. SuppliersE. Evaluators 55
  56. 56. 16. Participants in the business buying process include: (1) initiators (2) users (3) influencers (4) deciders (5) approvers (6) buyers and (7)________ ?A. StakeholdersB. Board of OfficersC. GatekeepersD. SuppliersE. Evaluators 56
  57. 57. 7 Possible Participants in BuyingProcess (1) initiators (2) users (3) influencers (4) deciders (5) approvers (6) buyers (7) gatekeepers
  58. 58. 17. Target markets are the following except:A. SegmentsB. GroupsC. NichesD. Local AreasE. Individuals 58
  59. 59. There are four levels ofMicromarketing Segments Niches Local areas Individuals 59
  60. 60. Four levels of Micromarketing Segments NichesAs Kotler defined, there are four (4) levels of marketing. Local areas Individuals 60
  61. 61. 17. Target markets are the following except:A. SegmentsB. GroupsC. NichesD. Local AreasE. Individuals 61
  62. 62. 18. Market segments, to be useful, must be ALL except:A. measurableB. differentiableC. accessibleD. actionableE. definable 62
  63. 63. Effective SegmentationCriteria Measurable Substantial Accessible Differentiable Actionable 63
  64. 64. To be useful, market segmentsmust rate on five (5) key criteria: Measurable: size, purchasing power Substantial: large and profitable to serve. Accessible: can reach and serve. Differentiable: distinguishable. Actionable: effective programs can be formulated 64
  65. 65. 18. Market segments, to be useful, must be ALL except:A. measurableB. differentiableC. accessibleD. flexibleE. actionable 65
  66. 66. 19. Colgate’s strategy of including sensitive teeth consumers in their market is a way of .A. Differentiated marketingB. Innovative marketingC. Niche marketingD. Mass marketingE. Blue ocean marketing 66
  67. 67. Markets can be targeted at four(4) levels: segments, niches, localareas and individuals. Segments: large and identifiable groups Segments NichesNiche: more narrowly defined group with distinctive mix of benefits Local area: local customer groups Local areas Individuals (i.e. neighborhoods, individual stores) Individuals: particular customers with their customized needs and wants.Explanation of Concept 67
  68. 68. Sensodyne has been known for itstoothpaste customized for sensitiveteeth until Colgate released itsproduct this year.* Colgate, being a toothpaste company, added its product, Sensitive Pro-Relief to well understand its customers’ needs. Source: http://www.123jump.com/market- update/Colgate-Palmolive-Q4-Earnings-Call- Transcript/36333/21Explanation of Concept 68
  69. 69. 19. Colgate’s strategy of including sensitive teeth consumers in their market is a way of .A. Differentiated marketingB. Innovative marketingC. Niche marketingD. Mass marketingE. Blue ocean marketing 69
  70. 70. associate with a brand, positivelyevaluate, and believe could not find tothe same extent with a ______________brand. A. Similar B. Competitive C. Collaborative D. Leading E. Winning
  71. 71. Defining Associations Points-of-Difference Points-of-Parity (PODs) (POPs) Attributes or benefits •Associations that are not consumers strongly necessarily unique to the associate with a brand, brand but may be shared positively evaluate, and with other brands.believe they could not findto the same extent with a competitive brand.
  72. 72. PODs are attributes that set-apart abrand from its rival brand Points-of-Difference Points-of-Parity (PODs) (POPs) Attributes or benefits •Associations that are not consumers strongly necessarily unique to the associate with a brand, brand but may be shared positively evaluate, and with other brands.believe they could not findto the same extent with a competitive brand.
  73. 73. associate with a brand, positivelyevaluate, and believe could not find tothe same extent with a ______________brand. A. Similar B. Competitive C. Collaborative D. Leading E. Winning
  74. 74. 21. Companies that satisfy the samecustomer needs are called ______________.A. Competitive new entrantsB. ChallengerC. CompetitorsD. Market opponentE. Business rival 74
  75. 75. Using the market approach,COMPETITORS are defined as companiesthat satisfy the same customer need (e.ga customer who buys a word-processingpackage really wants “writing ability” – aneed that can also be satisfied by pencils,pens, or typewriters). 75
  76. 76. 21. Companies that satisfy the samecustomer needs are called ______________.A. Competitive new entrantsB. ChallengerC. CompetitorsD. Market opponentE. Business rival 76
  77. 77. 22. Firm B attacks Firm A, the market leader, forfurther market share. What is Firm B called?A. Market followerB. Market aggressorC. Market nichersD. Market playerE. Market challenger 77
  78. 78. Your strategy depends on yourcompanies competitive position.Is your company a…1. Market leader – has largest market share; leads price changes, new-product introductions, etc.2. Market follower – maintains market share and doesn’t rock the boat3. Market challenger – gained ground or wants to be leader4. Market nichers – serves small market segments not being served by larger firms 78
  79. 79. 22. Firm B attacks Firm A, the market leader, forfurther market share. What is Firm B called?A. Market followerB. Market aggressorC. Market nichersD. Market playerE. Market challenger 79
  80. 80. 23.The following are examples of service sectors except for :A. GovernmentB. RetailC. BusinessD. WholesaleE. Manufacturing
  81. 81. 23. The following are examples of service sectors except for :A. GovernmentB. RetailC. BusinessD. WholesaleE. Manufacturing
  82. 82. Service Sectors Governme Private nt Nonprofit Business Manufacturing Retail
  83. 83. 24. What are the 4 distinctivecharacteristics of Service?A. tangibility, inseparability, variability, perishability.B. Compatibility, intangibility, inseparability, variability.C. Sensibility, compatibility, intangibility, inseparability.D. Perishability, responsibility, compatibility, intangibility.E. None of the Above
  84. 84. SERVICESHas 4 distinctive characteristics – intangibility, inseparability, variability, perishability.
  85. 85. 24. What are the 4 distinctivecharacteristics of Service?A. intangibility, inseparability, variability, perishability.B. Compatibility, intangibility, inseparability, variability.C. Sensibility, compatibility, intangibility, inseparability.D. Perishability, responsibility, compatibility, intangibility.E. None of the Above
  86. 86. 25. Which of the following statement is FALSE in considering a pricing objective?A. Survival: Prices are lowered to ensure inventory turnover but price must cover variable costs & fixed costs.B. Maximum current profit: price is set to maximize current profit, cash flow, or ROIC. Maximum Market Skimming: Prices start low and increased overtimeD. Maximum sales growth : low price is set assuming that marketing is price sensitiveE. Marketing penetration pricing: Goal is high sales volume86
  87. 87. 5 Major Pricing Objectivesa. Survival: if a firm sets prices covering variable cost and some fixed cost to face overcapacity, intense competition or changing consumer wants.b. Maximum current profit: if a firm has knowledge of its demand and cost function, price is set to maximize current profit, cash flow, or ROIc. Maximum market skimming: if a firm unveiling a new technology favor setting “higher price” as to communicate superior product but sales drop in the next future making the price low e.g. initially higher price for TV flat with billingual systemd. Maximum market share (marketing penetration pricing) if a firm believes a higher sales volume will lead to lower unit cost and higher long run profit. They set “the lowest price” assuming the market is price sensitive. Goal is high sales volumee. Product-Quality Leadership: company brands strive to be “affordable luxuries”—products or services are characterized by high levels of perceived quality, taste, and status with a price just high enough not to be out of consumer’s reach87
  88. 88. 25. Which of the following statement is FALSE in considering a pricing objective?A. Survival: Prices are lowered to ensure inventory turnover but price must cover variable costs & fixed costs.B. Maximum current profit: price is set to maximize current profit, cash flow, or ROIC. Maximum Market Skimming: Prices start low and increased overtimeD. Maximum sales growth : low price is set assuming that marketing is price sensitiveE. Marketing penetration pricing: Goal is high sales volume88
  89. 89. 26. A behavior wherein a consumer prefers to buy an Armani shirt at $275 over a GAP shirt which costs $14.90 is an example of: A. Reference Price B. Price-quality inferences C. Price Cues D. Price endings E. Price elasticity89
  90. 90. Consumer pricing psychology  how consumers arrive at their perceptions of price, the marketers must think of:a. Reference price: consumers get pricing information from internal reference price (used as habitual decision making) or external reference price (used as limited decision making and extended decision making)b. Price-quality inferences: many consumers use price as an indicator of quality. Image pricing is effective with ego- sensitive products. E.g perfumes, designer clothesc. Price cues: consumers tend to process prices in a “left to right” manner rather than by rounding e.g. stereo amplifier priced at 299 instead $300 as a price in the $200 range rather than $300 ranged. Price endings: Prices that end with 0 and 5 are easier for consumers to remember90
  91. 91. 26. A behavior wherein a consumer prefers to buy an Armani shirt at $275 over a GAP shirt which costs $14.90 is an example of: A. Reference Price B. Price-quality inferences C. Price Cues D. Price endings E. Price elasticity91
  92. 92. 27. The following are major typesof retailer except _____________.a) Discount storeb) Wholesale storec) Catalog showroomd) Convenience storee) Off-price retailer 92
  93. 93. Specialty Store Convenience StoreDepartment Store Discount Store Supermarket Off-price Retailer Superstore Catalog Showroom
  94. 94.  A “wholesaler” sells to those buying for resale or business use;  Brokers and agents are wholesalers who mediatebetween buyer and seller of securities; 94
  95. 95. 28. Which of the following is true about private labels?a. These are unbranded, plainly packaged, less expensiveversions of common products.b. Private labels are usually sold at a higher price due to highercosts on advertising, sales promotion and distribution.c. Private labels require much investment on R&D to bring outnew brands, line extensions, and features.d. Are also called reseller, store, house or distributor branddeveloped by retailers and wholesalers.e. all of the above 95
  96. 96. PRIVATE LABEL VS. NATIONAL BRANDS PRIVATE LABEL  Developed by retailers/wholesalers  Shelf space advantage  NATIONAL BRANDS  Lower price  Significant investments on R&D  Investments on “pull” advertising programs
  97. 97. What’s on the LABEL? lower price due to lower costs of Own brands developed by Wal production, advertising, sales Mart & Tesco are known as promotion & private labels. distribution.  Huge market advantage over national brands considering shelf-space and price.
  98. 98. 28. Which of the following is true about private labels?a. These are unbranded, plainly packaged, less expensive versions ofcommon products.b. Private labels are usually sold at a higher price due to higher costson advertising, sales promotion and distribution.c. Private labels require much investment on R&D to bring out newbrands, line extensions, and features.d. These are also called reseller, store, house or distributor branddeveloped by retailers or wholesalers.e. all of the above 98
  99. 99. 29. Which is the use of consumer-direct(CD) channelsto reach and deliver goods and services to customerswithout using marketing middlemen. A. Interactive marketing B. Direct marketing C. Direct to consumer marketing D. All of above E. None of above
  100. 100. Direct marketing is the use ofconsumer-direct(CD) channels to reachand deliver goods and services tocustomers without using marketingmiddlemen.
  101. 101. 29. Which is the use of consumer-direct(CD) channels to reach and deliver goods and services to customers without using marketing middlemen.A. Interactive marketingB. Direct marketingC. Both of aboveD. None of above
  102. 102. 30. The following are categories ofnew-product except _____________.a) New-to-the-worldb) New product linesc) Cost Reductiond) Repositioninge) None of the Above 102
  103. 103. New-to-the-world ImprovementsNew product lines Repositionings Additions Cost reductions 3
  104. 104. 30. The following are categories ofnew-product except _____________.a) New-to-the-worldb) New product linesc) Cost Reductiond) Repositioninge) None of the Above 104
  105. 105. 31. _______ is individual’s decision tobecome a regular user of a product? a) Awareness b) Repeat Purchase c) Evaluation d) Purchase e) Adoption 105
  106. 106. The Consumer-Adoption Process Adoption – is an individual’s decision to become a regular user of a product. The consumer-adoption process is followed by the consumer-loyalty process. After which, the adopters of new products move trough the 5 stages in adoption process. An innovation is any good, service, or idea that someone perceives as new, no matter how long its history. 15
  107. 107. Awareness Interest Evaluation Trial Adoption 107
  108. 108. Readiness to try new-products Innovators Early adopters Early majority Late majority Laggards Personal influence Characteristics of the Innovation Relative Advantage Compatibility Complexity Divisibility Communicability
  109. 109. 31. _______ is individual’s decision tobecome a regular user of a product? a) Awareness b) Repeat Purchase c) Evaluation d) Purchase e) Adoption 109
  110. 110. 32. Companies planning to introducetheir products in the Middle Eastshould primarily consider: A. Packaging B. Branding C. Advertising D. Labeling E. Pricing 110
  111. 111. ConsiderationMuslims are very particular on how a food is prepared. For them, it must be inaccordance with their religion; thus, Muslims will not buy a product unless they see a Halal seal in its label.
  112. 112. 32. Companies planning to introduce theirproducts in the Middle East should primarilyconsider:A. PackagingB. BrandingC. AdvertisingD. LabelingE. Pricing 112
  113. 113. 33. ____ is a percentage of customers who named the competitor in responding to the statement “Name the company from which you would prefer to buy the product”a. Share of Marketb. Share of Mindc. Share of Heartd. Share of Preferencee. Share of Wallet 113
  114. 114. Share of Market- % Sale/ Total Industry SaleShare of Mind (Top of Mind)- % of Customers : “Name the first company that comes to mind in this industry”Share of Heart (Preference)- % of Customers: “Name the company from which you would prefer to buy the product” 114
  115. 115. 33. ____ is a percentage of customers who named the competitor in responding to the statement “Name the company from which you would prefer to buy the product”a. Share of Marketb. Share of Mindc. Share of Heartd. Share of Preferencee. Share of Wallet 115
  116. 116. 34. ____ duplicates the leader’s product and packages and sells it on the black market or through disreputable dealersa. Clonerb. Imitatorc. Adapterd. Counterfeitere. Duplicator 116
  117. 117. 4 Ways of Copying a Leading BrandCounterfeiter (Copy ALL- XEROX)- Duplicates the leader’s product. Packages and sells it on the black market or though disreputable dealersCloner (Copy MOST)- Emulates the leader’s products, name and packaging with SLIGHT variationsImitator (Copy SOME)- Copies SOME things from the leader but maintains differentiation in terms of packaging, advertising, pricing or locationAdapter (IMPROVES)- Takes the leader’s products and adapts or improves them 117
  118. 118. 34. ____ duplicates the leader’s product and packages and sells it on the black market or through disreputable dealersa. Clonerb. Imitatorc. Adapterd. Counterfeitere. Duplicator 118

×