Creating a Customer Value Proposition and Positioning - Quiz

1. A winning value proposition balances

Company strengths, customer needs, and competitor offerings

Cost, supply, and distribution

Market share and revenue

Promotion, price, and place

2. Perceived value is

The actual cost of production

The discount offered

The difference between total customer benefits and total customer costs

The company’s profit margin

3. Repositioning may involve

Reducing features

Cutting quality

Eliminating distribution

Changing the target market or altering brand associations

4. A perceptual map helps marketers

Plan financial budgets

See how customers perceive competing brands

Define supply routes

Manage product inventory

5. Customer perceived value (CPV) represents

The brand’s logo value

The total price paid

The production margin

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

6. Service differentiation includes

Distribution length

Delivery speed, installation, training, customer care

Product color

Employee wages

7. An example of an emotional benefit is

Lower electricity cost

Extra storage capacity

Extended warranty coverage

The sense of pride from using a luxury watch

8. A positioning statement is used to

Inform government regulators

Describe manufacturing goals

Replace advertising slogans

Internally guide marketing and communication decisions

9. A value map is a visual representation of

The relationship between customer value and price among competitors

Advertising expenditure

Production cost and logistics

Employee performance

10. An example of a functional benefit in positioning is

“We inspire your creativity.”

“Our brand makes you feel confident.”

“Our detergent cleans clothes whiter and faster.”

“We care for the environment.”

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