Review Questions for Marketing Management

1. LEARNING by
COACHING
Midterm Exam Reviewer
for Marketing Management
from Questions
submitted by v52 students
Compiled and Edited by
Prof. Remigio Joseph A. De Ungria Jr., MBA
Ateneo Graduate School of Business

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. Exam Tip:
Learn the Concept
Don’t Memorize the Answer

4. 1. Marketing is a set of process for creating,
communicating and delivering ____ to
customers.
A. Goods
B. Services
C. Value
D. Goods and Services
E. Information

5. 1. Marketing is a set of process for creating,
communicating and delivering ____ to
customers.
A. Goods
B. Services
C. Value
D. Goods and Services
E. Information

6. 2. All are marketed except
A. Events
B. Experiences
C. Organization
D. Identity
E. People

7. 2. All are marketed except
A. Events
B. Experiences
C. Organization
D. Identity
E. People

8. 3. Potential market, available market,
target market, and penetrated market are
measures of _________.
A. Market demand
B. Market supply
C. Market group
D. Market size
E. None of the above
8

9. The Measures of Market Demand
Potential Available
Market Market
Target Penetrated
Market
Market

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. 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. 3. Potential market, available market,
target market, and penetrated market are
measures of _________.
A. Market demand
B. Market supply
C. Market group
D. Market size
E. None of the above
12

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. 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. Questionnaires
 It does not specify if the income is
annual, weekly, daily, etc.

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. 5. Customer survey forms in
restaurants can be a measure of the
following marketing metrics except:
A. Customer satisfaction
B. Loyalty
C. Market share
D. All of the Above
E. None of the above
17

18. Marketing Metrics
External 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. 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. 5. Customer survey forms in
restaurants can be a measure of the
following marketing metrics except:
A. Customer satisfaction
B. Loyalty
C. Market share
D. Total number of customers
E. None of the above
20

21. Types of Samples
Probability Samples Nonprobability Samples
 Simple random  Convenience
 Stratified random  Judgment
 Cluster  Quota

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. 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 usefulness
B. Perceived Cost
C. Total Customer Cost
D. Total Perceived Cost
E. Perceived Customer Price
23

24. Total Customer Cost
Total 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 cost
Psychological cost 24

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 usefulness
B. Failure avoidance rate
C. Total Customer Cost
D. Customer perceived value
E. Competitors market share rate
25

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 alternatives
A. Benefit & Cost
B. Price & Cost
C. Profit & Benefit
D. Benefit & Price
E. Profit & Cost
26

27. Determinants of
Customer Perceived Value
Total customer benefit Total customer cost
Product benefit Monetary cost
Services benefit Time cost
Personal benefit Energy cost
Image benefit Psychological cost

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 alternatives
A. Benefit & Cost
B. Price & Cost
C. Profit & Benefit
D. Benefit & Price
E. Profit & Cost
28

29. 8. While reading a newspaper, Wendy a frequent traveller
noticed the Cebu Pacific zero-fare ad, but never noticed the
free 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. 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. 8. While reading a newspaper, Wendy a frequent traveller
noticed the Cebu Pacific zero-fare ad, but never noticed the
free 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. 9. What is the highest need that a mobile phone
satisfies in the Filipino consumer
a. Psychological
b. Safety
c. Social
d. Communication
e. Physiological
32

33. Kotler Concept:
Maslow’s Hierarchy of Needs

34. 9. Mobile phone is a relevant product to Filipino
consumer because it satisfies their _____ needs.
a. Psychological
b. Safety
c. Social
d. Communication
e. Physiological
34

35. 10. Problem recognition is the 1st stage of the consumer
buying 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. Consumer Buying Process
1. Problem recognition
2. Information search
3. Evaluation of alternatives
4. Purchase decision
5. Post-purchase behavior

37. 10. Problem recognition is the 1st stage of the consumer
buying 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. 11. The following are major
information sources to which
consumers turn to EXCEPT
A. Experiential
B. Commercial
C. Public
D. External
E. Personal
38

39. Major Information Sources
Personal
Commercial
Public
Experiential
11

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. 11. The following are major
information sources to which
consumers turn to EXCEPT
A. Experiential
B. Commercial
C. Public
D. External
E. Personal
13

42. 12. Buyer’s decisions are influenced
by personal characteristics EXCEPT
A. Nationality
B. Age & Stage in the Life Cycle
C. Occupation & Economic Circumstances
D. Personality
E. Lifestyle
14

43. Personal Factors
Age
Life cycle Self-
stage concept
Lifestyle
Occupation
Wealth Values
Personality
15

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. 12. Buyer’s decisions are influenced
by personal characteristics EXCEPT
A. Nationality
B. Age & Stage in the Life Cycle
C. Occupation & Economic Circumstances
D. Personality
E. Lifestyle
17

46. 13. A Filipina who recently postponed
her trip to HK was influenced by this
type of risk
A. Psychological Risk
B. Physical Risk
C. Financial Risk
D. Social Risk
E. All of the above
34

47. Perceived Risks
A consumer’s
decision to Time
Functional
modify, postpone,
or avoid a Psychological Physical
purchase is
heavily influenced
Social Financial
by perceived
risks.
35

48. Perceived Risks
Due 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
expectations
2. Physical Risk – the product poses a threat to the physical well-
being of the user/others
3. Financial Risk – the product is not worth the price paid
4. Social Risk – the product results in embarrassment from others
5. Psychological Risk – the product affects the mental well-being
of the user
6. Time Risk – wasted time in finding a new product in case of
product failure
36

49. 13. A Filipina who recently postponed
her trip to HK was influenced by this
type of risk
A. Psychological Risk
B. Physical Risk
C. Financial Risk
D. Social Risk
E. All of the above
37

50. of Business Markets
except
A. Fewer, Larger Buyers
B. Elastic Demand
C. Fluctuating Demand
D. Close supplier-customer relationships
E. None of the Above
50

51. 14. All are characteristics
of Business Markets
except
A. Fewer, Larger Buyers
B. Direct and Indirect Purchasing System
C. Inelastic Demand
D. Fluctuating Demand
E. Close supplier-customer relationships
51

52. 15. The first stage in the
buying process is usually called:
A. Observation of current market
B. General Description of the need
C. Product and Supplier Specification
D. Problem recognition
E. Probing and Identifying the need.
52

53. 15. The first stage in the buying process
is usually called:
A. Observation of current market
B. General Description of the need
C. Product and Supplier Specification
D. Problem recognition
E. Probing and Identifying the need.
53

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. 16. Participants in the business buying process include: (1)
initiators (2) users (3) influencers (4) deciders (5)
approvers (6) buyers and (7)________ ?
A. Stakeholders
B. Board of Officers
C. Gatekeepers
D. Suppliers
E. Evaluators
55

56. 16. Participants in the business buying process include: (1)
initiators (2) users (3) influencers (4) deciders (5)
approvers (6) buyers and (7)________ ?
A. Stakeholders
B. Board of Officers
C. Gatekeepers
D. Suppliers
E. Evaluators
56

57. 7 Possible Participants in Buying
Process
(1) initiators
(2) users
(3) influencers
(4) deciders
(5) approvers
(6) buyers
(7) gatekeepers

58. 17. Target markets are the
following except:
A. Segments
B. Groups
C. Niches
D. Local Areas
E. Individuals
58

59. There are four levels of
Micromarketing
Segments Niches
Local areas Individuals
59

60. Four levels of Micromarketing
Segments Niches
As Kotler defined, there
are four (4) levels
of marketing.
Local areas Individuals
60

61. 17. Target markets are the
following except:
A. Segments
B. Groups
C. Niches
D. Local Areas
E. Individuals
61

62. 18. Market segments, to be
useful, must be ALL except:
A. measurable
B. differentiable
C. accessible
D. actionable
E. definable
62

63. Effective Segmentation
Criteria
Measurable
Substantial
Accessible
Differentiable
Actionable
63

64. To be useful, market segments
must 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. 18. Market segments, to be
useful, must be ALL except:
A. measurable
B. differentiable
C. accessible
D. flexible
E. actionable
65

66. 19. Colgate’s strategy of including sensitive
teeth consumers in their market is a way of
.
A. Differentiated marketing
B. Innovative marketing
C. Niche marketing
D. Mass marketing
E. Blue ocean marketing
66

67. Markets can be targeted at four
(4) levels: segments, niches, local
areas and individuals.
Segments: large and identifiable
groups Segments Niches
Niche: 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. Sensodyne has been known for its
toothpaste customized for sensitive
teeth until Colgate released its
product 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/36333/21
Explanation of Concept 68

69. 19. Colgate’s strategy of including sensitive
teeth consumers in their market is a way of
.
A. Differentiated marketing
B. Innovative marketing
C. Niche marketing
D. Mass marketing
E. Blue ocean marketing
69

70. associate with a brand, positively
evaluate, and believe could not find to
the same extent with a ______________
brand.
A. Similar
B. Competitive
C. Collaborative
D. Leading
E. Winning

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 find
to the same extent with a
competitive brand.

72. PODs are attributes that set-apart a
brand 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 find
to the same extent with a
competitive brand.

73. associate with a brand, positively
evaluate, and believe could not find to
the same extent with a ______________
brand.
A. Similar
B. Competitive
C. Collaborative
D. Leading
E. Winning

74. 21. Companies that satisfy the same
customer needs are called ______________.
A. Competitive new entrants
B. Challenger
C. Competitors
D. Market opponent
E. Business rival
74

75. Using the market approach,
COMPETITORS are defined as companies
that satisfy the same customer need (e.g
a customer who buys a word-processing
package really wants “writing ability” – a
need that can also be satisfied by pencils,
pens, or typewriters).
75

76. 21. Companies that satisfy the same
customer needs are called ______________.
A. Competitive new entrants
B. Challenger
C. Competitors
D. Market opponent
E. Business rival
76

77. 22. Firm B attacks Firm A, the market leader, for
further market share. What is Firm B called?
A. Market follower
B. Market aggressor
C. Market nichers
D. Market player
E. Market challenger
77

78. Your strategy depends on your
companies 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
boat
3. Market challenger – gained ground or wants to be leader
4. Market nichers – serves small market segments not being
served by larger firms
78

79. 22. Firm B attacks Firm A, the market leader, for
further market share. What is Firm B called?
A. Market follower
B. Market aggressor
C. Market nichers
D. Market player
E. Market challenger
79

80. 23.The following are examples of
service sectors except for :
A. Government
B. Retail
C. Business
D. Wholesale
E. Manufacturing

81. 23. The following are examples of
service sectors except for :
A. Government
B. Retail
C. Business
D. Wholesale
E. Manufacturing

82. Service Sectors
Governme Private
nt Nonprofit
Business Manufacturing Retail

83. 24. What are the 4 distinctive
characteristics 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. SERVICES
Has 4 distinctive characteristics –
intangibility, inseparability,
variability, perishability.

85. 24. What are the 4 distinctive
characteristics 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. 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 ROI
C. Maximum Market Skimming: Prices start low and
increased overtime
D. Maximum sales growth : low price is set assuming
that marketing is price sensitive
E. Marketing penetration pricing: Goal is high sales
volume
86

87. 5 Major Pricing Objectives
a. 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 ROI
c. 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 system
d. 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 volume
e. 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 reach
87

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 ROI
C. Maximum Market Skimming: Prices start low and
increased overtime
D. Maximum sales growth : low price is set assuming
that marketing is price sensitive
E. Marketing penetration pricing: Goal is high sales
volume
88

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 elasticity
89

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 clothes
c. 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
range
d. Price endings: Prices that end with 0 and 5 are easier for
consumers to remember
90

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 elasticity
91

92. 27. The following are major types
of retailer except _____________.
a) Discount store
b) Wholesale store
c) Catalog showroom
d) Convenience store
e) Off-price retailer
92

93. Specialty Store Convenience Store
Department Store Discount Store
Supermarket Off-price Retailer
Superstore Catalog Showroom

94.  A “wholesaler” sells to
those buying for resale or
business use;
 Brokers and agents are
wholesalers who mediate
between buyer and seller of
securities;
94

95. 28. Which of the following
is true about private
labels?
a. These are unbranded, plainly packaged, less expensive
versions of common products.
b. Private labels are usually sold at a higher price due to higher
costs on advertising, sales promotion and distribution.
c. Private labels require much investment on R&D to bring out
new brands, line extensions, and features.
d. Are also called reseller, store, house or distributor brand
developed by retailers and wholesalers.
e. all of the above
95

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. 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. 28. Which of the following
is true about private
labels?
a. These are unbranded, plainly packaged, less expensive versions of
common products.
b. Private labels are usually sold at a higher price due to higher costs
on advertising, sales promotion and distribution.
c. Private labels require much investment on R&D to bring out new
brands, line extensions, and features.
d. These are also called reseller, store, house or distributor brand
developed by retailers or wholesalers.
e. all of the above
98

99. 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 marketing
B. Direct marketing
C. Direct to consumer marketing
D. All of above
E. None of above

100. Direct marketing is the use of
consumer-direct(CD) channels to reach
and deliver goods and services to
customers without using marketing
middlemen.

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 marketing
B. Direct marketing
C. Both of above
D. None of above

102. 30. The following are categories of
new-product except _____________.
a) New-to-the-world
b) New product lines
c) Cost Reduction
d) Repositioning
e) None of the Above
102

103. New-to-the-world Improvements
New product lines Repositionings
Additions Cost reductions
3

104. 30. The following are categories of
new-product except _____________.
a) New-to-the-world
b) New product lines
c) Cost Reduction
d) Repositioning
e) None of the Above
104

105. 31. _______ is individual’s decision to
become a regular user of a product?
a) Awareness
b) Repeat Purchase
c) Evaluation
d) Purchase
e) Adoption
105

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. Awareness Interest Evaluation
Trial Adoption
107

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. 31. _______ is individual’s decision to
become a regular user of a product?
a) Awareness
b) Repeat Purchase
c) Evaluation
d) Purchase
e) Adoption
109

110. 32. Companies planning to introduce
their products in the Middle East
should primarily consider:
A. Packaging
B. Branding
C. Advertising
D. Labeling
E. Pricing
110

111. Consideration
Muslims are very particular on how a food is
prepared. For them, it must be in
accordance with their religion; thus, Muslims
will not buy a product unless they see a
Halal seal in its label.

112. 32. Companies planning to introduce their
products in the Middle East should primarily
consider:
A. Packaging
B. Branding
C. Advertising
D. Labeling
E. Pricing
112

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 Market
b. Share of Mind
c. Share of Heart
d. Share of Preference
e. Share of Wallet
113

114. Share of Market
- % Sale/ Total Industry Sale
Share 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. 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 Market
b. Share of Mind
c. Share of Heart
d. Share of Preference
e. Share of Wallet
115

116. 34. ____ duplicates the leader’s product
and packages and sells it on the black
market or through disreputable dealers
a. Cloner
b. Imitator
c. Adapter
d. Counterfeiter
e. Duplicator
116

117. 4 Ways of Copying a Leading Brand
Counterfeiter (Copy ALL- XEROX)
- Duplicates the leader’s product. Packages and sells it on the
black market or though disreputable dealers
Cloner (Copy MOST)
- Emulates the leader’s products, name and packaging with
SLIGHT variations
Imitator (Copy SOME)
- Copies SOME things from the leader but maintains
differentiation in terms of packaging, advertising, pricing or
location
Adapter (IMPROVES)
- Takes the leader’s products and adapts or improves them
117

118. 34. ____ duplicates the leader’s product
and packages and sells it on the black
market or through disreputable dealers
a. Cloner
b. Imitator
c. Adapter
d. Counterfeiter
e. Duplicator
118