Creating a Customer Value Proposition and Positioning - Quiz

1. An example of an emotional benefit is

Extra storage capacity

Lower electricity cost

Extended warranty coverage

The sense of pride from using a luxury watch

2. A value proposition is best defined as

The set of benefits or values a company promises to deliver to customers

A product’s physical characteristics

The total production cost of a product

A brand’s advertising slogan

3. A positioning statement is used to

Replace advertising slogans

Inform government regulators

Internally guide marketing and communication decisions

Describe manufacturing goals

4. Customer perceived value (CPV) represents

The brand’s logo value

The customer’s evaluation of the difference between perceived benefits and costs

The total price paid

The production margin

5. Customer intimacy emphasizes

Low-cost standardization

Tailoring offerings to individual customer needs

Volume selling

Supply chain optimization

6. Service differentiation includes

Distribution length

Delivery speed, installation, training, customer care

Employee wages

Product color

7. A winning value proposition balances

Promotion, price, and place

Cost, supply, and distribution

Company strengths, customer needs, and competitor offerings

Market share and revenue

8. Points of parity (POPs) ensure that

The company avoids competition

The brand ignores category expectations

Customers see the brand as credible within the category

The brand stands out as entirely unique

9. Repositioning may involve

Eliminating distribution

Changing the target market or altering brand associations

Cutting quality

Reducing features

10. The frame of reference in positioning identifies

The category or context in which the brand competes

The customer’s lifetime value

The pricing level

The supply chain structure

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