Section 9 Study Questions (9.0 points)
Lesson 1 (3.0 points)
1. What is corporate image or corporate identity? (1.0 points) Corporate image, or corporate identity, is the perception that people have of your company. It includes any qualities or characteristics that people associate with your company.
2. For a small company, how closely should the brand and corporate image usually be related? (1.0 points) For a small company, it's usually best to keep them as closely related as possible, to avoid customer confusion.
3. List at least five things that can affect customer perception of your brand image. (1.0 points) Type of customer, reviews of others, where you advertise, where it’s sold, and price.
Lesson 2 (3.0 points)
1. What is market positioning? (0.5 points)
Market positioning is when your company makes an effort to actively control and shape your brand image with your target market.
2. What are six steps in developing your brand's marketing message? (1.0 points) - Define your brand
- Focus your message
- Express your personality
- Get the message out
- Meet or exceed expectations
- Improve the community
3. What are the five P's of the marketing mix? (0.5 points)
Product, place, price, promotion, and people.
4. What is word of mouth promotion? (0.5 points)
Word of mouth promotion happens in informal conversations between people, including satisfied customers, anyone who knows about your company or brand, and people who are paid to talk about the company, like salespeople.
5. What are the five C's of the marketing mix? (0.5 points)
Consumer, cost, convenience, communications, community.
Lesson 3 (3.0 points)
1. What is a company's market share? (0.5 points)
Your company's market share is the percentage of the total market for your product or service that belongs to you.
2. What are three ways to improve a company's market penetration? (0.5 points) Lower your costs, increase sales in slow market, and...
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