MKT 435 Wk 4 - Practice: Topic 10 Quick Check

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MKT 435 Wk 4 - Practice: Topic 10 Quick Check

1. What is the core benefit or solution that differentiates a brand’s product or service from the competition and positions it as the best possible option on the market?

• Mission statement
• Your big why
• Unique value proposition
• Target audience

2. Which components of the marketing mix have been proven to positively and significantly affect the unique value proposition? Select all that apply.

• Product
• Promotion
• Price
• Place

3. What type of correlation exists between brand loyalty and purchase intent?

• Direct
• Indirect

4. In its simplest form, what are the components of a UVP?

• What your customers care about and need + what you do really well - what your competitor does really well
• What your customers care about and need - what you do really well + what your competitor does really well
• What your customers care about and need + what you do really well + what your competitor does really well
• None of the above

5. Before beginning to establish a brand's UVP, what questions should you ask yourself?

• Who does the brand serve?
• What are the needs of this customer segment?
• What makes your brand different?
• What is your big promise?
• All of the above

6. What are some of the best methods to use to gather data in order to speak your customer’s language?

• Surveys
• Interviews
• Focus groups
• Observations
• All of the above

7. Which of these frameworks are proven to be effective in communicating a brand’s UVP? Select all that apply.

• Moore’s Value Proposition Template
• Blank’s Value Proposition Template
• Thomson’s Value Proposition Canvas
• Morris’s Value Proposition Template

8. Based on Moore’s UVP template, determine which of the following statements would be most appropriate for a residential cleaning company.

• For business owners who need germ-free buildings, our commercial cleaning service is the best after hour cleaning service that keeps your office clean 24/7.
• We help homeowners keep their homes clean by providing custom cleaning plans.
• We help business owners keep their office cleaning by providing custom cleaning solutions.
• For homeowners who need germ-free homes, our residential cleaning service is the best travel cleaning service that does all of the cleaning for you.

9. Based on Blank’s UVP template, determine which of the following statements would be most appropriate for a commercial cleaning company.

• We help homeowners keep their homes clean by providing custom cleaning plans.
• For business owners who need germ-free buildings, our commercial cleaning service is the best after hour cleaning service that keeps your office clean 24/7.
• For homeowners who need germ-free homes, our residential cleaning service is the best travel cleaning service that does all of the cleaning for you.
• We help business owners keep their office cleaning by providing custom cleaning solutions.