Chapter 8 - Marketing And Brand Management
Chapter 8 Second Ed. Marketing and Brand Management
- 1.What is the Marketing function's primary directive?
- A.
To differentiate the company's products in the marketplace to maximize revenue.
- B.
To promote the company's message and presence in the industry
- C.
To promote each product in a similar fashion that aligns with the company's strategic aims.
- D.
To differentiate new formulations of a drug that is nearing the end of its patent life.
- 2.In which stage of the product life cycle does marketing play its most pivotal role?
- A.
During discovery
- B.
During development
- C.
Pre launch/just after launch
- D.
When nearing patent expiration
- 3.Which is NOT a major component that is included in the promotional strategy of a product?
- A.
Promotional Mix
- B.
Message Platform
- C.
Positioning
- D.
Portfolio evaluation
- E.
Techniques and channels
- 4.For which of the following is marketing NOT responsible?
- A.
Sales forecasts
- B.
Projections of marketing and sales expenditures
- C.
Sales manpower planning
- D.
Profit and loss statements
- 5.How does marketing contribute to the discovery and development phases?
- A.
Aligns the research efforts with the strategic aims of the company
- B.
Works with discovery and development to create a brand/promotional platform early
- C.
Assists with budgetary concerns of potential compounds
- D.
Helping to focus research investment on indications with the largest commercial potential/unmet needs
- 6.Please match the marketing objectives with their correct stages within the product life cycle: 1. Optimizing Profitability and Extending Brand Life 2. Layering a Foundation for Success 3. Accelerating Uptake 4. Maximize Commercial Potential 5. Maximizing Peak Sales
- A.
Maturity Growth Launch Pre-Launch Discovery and Development
- B.
Maturity Pre-Launch Launch Discovery and Development Growth
- C.
Launch Growth Discovery and Development Maturity Pre-Launch
- D.
Growth Discovery and Development Maturity Pre Launch Launch
- 7.Upon what are Marketing's sales forecasts based?
- A.
Brand platform and extensive market research
- B.
Extensive market research and certain key assumptions
- C.
Product positioning and product portfolio
- D.
Product portfolio and brand platform
- 8.In which stage in the life cycle is the initial commercial plan translated into a promotional strategy?
- A.
Discovery
- B.
Development
- C.
Pre Launch
- D.
Post Launch
- E.
Pre FDA patent expiration
- 9.What are "unbranded messages"?
- A.
Messages that do not directly relate to a target age bracket
- B.
Messages that relate to a disease or condition and emphasize the need for treatment
- C.
Promotional efforts that do not have the company's label on them
- D.
Product-specific messages that form the core of the overall promotional strategy
- 10.What are "branded messages"?
- A.
Messages designed to conceal the company logo in favor of promoting the product itself
- B.
Product-specific messages designed to increase uptake and maximize adoption
- C.
Company specific messages designed to increase awareness
- D.
Marketing tactics that promote off-label usages of a product that are not FDA approved but so widely accepted they can have the company's logo on them
- 11.What is a "Dear Doctor" Letter?
- A.
A form of marketing that targets physicians/prescribers in the industry to learn more about a specific product.
- B.
A formal retraction that notes when a company mis-promoted something and needs to undo the statement
- C.
A letter from a key opinion leader to his collegues promoting a new product
- D.
A letter from a patient to a doctor describing the side effects he is having from a certain product.
- 12.A ___________ is the means of communicating information to the universe of customers.
- A.
Communications channel
- B.
Message platform
- C.
Comprehensive commercial plan
- D.
Promotional channel
- 13.How do pharma/biotech companies prefer to reach prescribers and payers with their promotions?
- A.
Through highly tailored mail campaigns
- B.
Through internet-based touch campaigns
- C.
Through person to person contact
- D.
Through call center marketing
- 14.What is the primary promotion medium used to reach non professional groups?
- A.
Free trial sized samples
- B.
Direct to consumer advertising and other mass media
- C.
Product advertising in professional journals
- D.
Face to face product information and supplemental materials
- 15.Prescribers are often segmented to allow Marketing to fine tune product messages. On what basis are prescribers usually segmented?
- A.
Prescribing behaviors
- B.
Pharmacology expertise
- C.
Volume of prescriptions
- D.
A and B
- E.
A and C
- 16.Brand teams almost always supplement information from syndicated data sets by:
- A.
Performing a more comprehensive market analysis themselves
- B.
Hiring M Squared to do conduct a more in depth analysis
- C.
By commissioning primary market research
- D.
Syndicated data sets are generally enough information for a first round look at the market.
- 17.Why is market research in support of segmentation a "highly iterative process"?
- A.
Because market research is inherently a slow process comprised of many steps
- B.
Because the results from one study lead to new insights and then new questions which require further investigation
- C.
Lather, rinse, repeat if necessary
- D.
Because it is impossible to compile the results from one segmentation study and have them stand alone; numerous analyses are needed
- 18.Why is Marketing interested in identifying Key Opinion Leaders?
- A.
KOL's can assist with creating promotional platforms
- B.
KOL's influence the prescribing choices of other physicians
- C.
KOL's are not the interest of Marketing, but of Medical Affairs
- D.
Marketing supplies market research to KOL's to gain entrenched loyalty
- 19.Why does Marketing also segment the patient population?
- A.
To break down the patient population into small enough segments to determine where marketing will be the most lucrative
- B.
To assess the highest risk patient group
- C.
To invest more money into specific segments depending on the financial status of each segment
- D.
To prioritize marketing outreach and identify high-impact outreach mechanisms
- 20.How do BioPharma companies deal with patient privacy laws to communicate directly with patients?
- A.
Companies have access to all the information obtained in the trials and map that data to patient records
- B.
Companies pay clinicians "sponsor fees" to unblind their trial to access confidential information
- C.
Companies get doctors to encourage patients to contact the companies for more information about a specific product. If the patient contacts the company and provides information, then there is no confidentiality breach
- D.
Companies get information from prescribers and pharmacies that do not conflict with privacy laws
- 21.What is a primary responsibility of the Managed Markets group?
- A.
Segmenting the large corporate accounts in terms of mechanism of drug action for market research
- B.
Segmenting the large corporate accounts in terms of therapeutic area for competitive analysis
- C.
Segmenting the large corporate accounts in terms of their potential impact on the success of individual products
- D.
Segmenting the large corporate accounts in terms of product pipeline to identify future competition
- 22.Along with formulating product sales forecasts and finalizing P&L statements, what else must marketing develop for the financial projections?
- A.
In-licensing negotiations
- B.
Messaging platform
- C.
Promotional budget
- D.
Portfolio analysis
- 23.What key considerations are made in developing the right "promotional mix" for a product?
- A.
Raindrops on roses and whiskers on kittens
- B.
Full market saturation to reach as many consumers as possible
- C.
The optimal combination of promotional programs and channels for delivering the message
- D.
The optimal combination of professional and non professional marketing campaigns
- E.
The optimal segmentation of markets and prescribers
- 24.Upon what does the appropriate promotional mix depend?
- A.
On the nature of the product and the market in which it will compete
- B.
On the level of current competition that exists in the marketplace during the pre-launch phase.
- C.
The optimal blend of professional and non professional promotions
- D.
Walking the fine line between promoting the benefits of the product but adequately acknowledging the adverse effects
- 25.What role does marketing assume in preparation for product launch?
- A.
Marketing assumes no role: the sales force and managed markets take over.
- B.
Marketing takes the lead for determining logistics of program deployment and making sure everything goes off without a hitch.
- C.
Marketing assists the sales force in the product launch.
- D.
Marketing supports Manufacturing Operations and Trade and Distribution in the product launch.
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