Question 1

Interbrand's most valuable brands list is dominated by American brands.

Accepted Answer

According to Interbrand's most valuable brands list of 2021, 9 out of the top 10 brands are American.

Question 2

In solo branding, each brand stands on its own with a product or brand manager
running it.

Accepted Answer

Solo branding is also known as individual branding, where each product or brand has its own unique identity and is managed by a product or brand manager.

Question 3

The number one brand in the world in market value is IBM.

Accepted Answer

As of my last update in 2023, the number one brand in terms of market value is not IBM; brands like Apple, Amazon, and Google have consistently been ranked higher in market value in recent years.

Question 4

Global service firms often benefits from:

Accepted Answer

Global service firms benefit from scale economies, which refer to cost advantages that a firm experiences as it increases its output. As a firm grows in size, it is able to spread its fixed costs across a larger volume of output, which reduces the cost per unit. This allows global service firms to offer their services at a lower cost than their competitors, which can help them to win market share and increase profitability.

Question 5

If a company simply drops the old brand name and immediately replaces it with the
global name, it is called summary axing.

Accepted Answer

Summary axing refers to the abrupt change of a brand name to a new one without a transition period, immediately replacing the old brand name with the new, global name.

Question 6

A good example of a global brand name is Microsoft.

Accepted Answer

Microsoft is a global brand that is recognized and used worldwide in many different countries and languages. It has a strong reputation for its software products, including the Windows operating system and office productivity suite, and is one of the most valuable companies in the world.

Question 7

Brand equity is usually consistent from country to country.

Accepted Answer

Brand equity can vary from country to country due to cultural differences, market conditions, and consumer preferences. Certain brands may be more popular in certain regions or may have negative associations in other regions. Therefore, their value and perception can differ based on location.

Question 8

To bridge cultural gaps between the home and host market, service companies often customize the product to the local market. This can be done by spotting
_________________________.

Accepted Answer

To bridge cultural gaps, the service companies need to spot cultural opportunities and customize the product accordingly to fit the local market. The other options, such as environmental, funding, regional, or political opportunities, may have some relevance to business strategies, but they are not directly related to cultural gaps between different markets.

Question 9

One of the chief reasons for having a global brand is economies of scale.

Accepted Answer

Having a global brand allows a company to reach a larger audience and sell more products, which in turn leads to cost savings from bulk production and distribution. This is known as economies of scale.

Question 10

Pirated products tend to be of high quality.

Accepted Answer

Pirated products are often made using subpar materials and with little regard for safety or quality control. Therefore, pirated products are not typically of high quality.

Question 11

Euro Disney changed its name to Disneyland Europe.

Accepted Answer

Euro Disney has not changed its name to Disneyland Europe. It is still officially known as Disneyland Paris.

Question 12

Family (umbrella) branding is a not hierarchy of brands that may use the company's
corporate brand.

Accepted Answer

Family (umbrella) branding is a strategy where a company uses its corporate brand to brand its various products and services to leverage the corporate brand's recognition and trust across different items, suggesting a form of hierarchy where the corporate brand influences the perception of its various products.

Question 13

Companies should monitor the marketplace's response to the brand-name change
with marketing research.

Accepted Answer

Monitoring the marketplace's response to a brand-name change is important for companies to understand how it is being perceived by consumers. Marketing research can provide valuable insights into consumer attitudes and behavior towards the new brand name.

Question 14

A ______________ is a name, term, sign, symbol, or combination of them which is
intended to identify the goods and services of one seller or group of sellers and to
differentiate them from those of competitors.

Accepted Answer

The answer of A ______________ is a name, term, sign,...

Question 15

One of the reasons for pursuing a global brand as part of product policy is what might be called a prestige factor.

Accepted Answer

Pursuing a global brand can enhance the prestige and image of the product, making it more attractive to consumers in different regions.

Question 16

Country of origin (COO) effects have been shown to be unstable over time.

Accepted Answer

The answer of Country of origin (COO) effects have been...

Question 17

With respect to brand name changeover strategies, a ________________ strategy
consists of alerting the consumer about an impending brand name change and then
changing the brand name to the global brand name.

Accepted Answer

The answer of With respect to brand name changeover strategies,...

Question 18

With respect to brand name changeover strategies, a ____________ strategy consists
of somehow tying the global brand name to the local name. Eventually, the local
brand is phased out.

Accepted Answer

The answer of With respect to brand name changeover strategies,...

Question 19

A major strength of global service firms is that their _________________.

Accepted Answer

Global service firms have a major strength in their global know-how. This means they have knowledge and expertise in working in different markets and cultural contexts around the world. This allows them to design and deliver services that meet diverse customer needs and preferences across different regions. This can also give them a competitive advantage over local service providers who may not have the same level of experience or access to global networks and resources.

Question 20

Brand name awareness, perceived quality, and other associations invoked by the
brand name in the customer's mind can be described as being part of brand
equity.

Accepted Answer

This statement is true. Brand equity refers to the value that a brand adds to a product or service beyond the functional attributes of the product or service itself. This can include factors such as name recognition, perceived quality, customer loyalty, and other positive associations that customers have with the brand.

Quiz 11: Global Product Policy Decisions Ii: Marketing Products and Services

Interbrand's most valuable brands list is dominated by American brands.

In solo branding, each brand stands on its own with a product or brand manager running it.

The number one brand in the world in market value is IBM.

Global service firms often benefits from:

If a company simply drops the old brand name and immediately replaces it with the global name, it is called summary axing.

A good example of a global brand name is Microsoft.

Brand equity is usually consistent from country to country.

To bridge cultural gaps between the home and host market, service companies often customize the product to the local market. This can be done by spotting _________________________.

One of the chief reasons for having a global brand is economies of scale.

Pirated products tend to be of high quality.

Euro Disney changed its name to Disneyland Europe.

Family (umbrella) branding is a not hierarchy of brands that may use the company's corporate brand.

Companies should monitor the marketplace's response to the brand-name change with marketing research.

A ______________ is a name, term, sign, symbol, or combination of them which is intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors.

One of the reasons for pursuing a global brand as part of product policy is what might be called a prestige factor.

Country of origin (COO) effects have been shown to be unstable over time.

With respect to brand name changeover strategies, a ________________ strategy consists of alerting the consumer about an impending brand name change and then changing the brand name to the global brand name.

With respect to brand name changeover strategies, a ____________ strategy consists of somehow tying the global brand name to the local name. Eventually, the local brand is phased out.

A major strength of global service firms is that their _________________.

Brand name awareness, perceived quality, and other associations invoked by the brand name in the customer's mind can be described as being part of brand equity.