Chapter 8 - Marketing And Brand Management

41 Questions I By Msquared on February 23, 2009

Chapter 8 Second Ed. Marketing and Brand Management
Start

Embed
Remove Excerpt
Question Excerpt
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.
Promotion
al Mix
B.
Message
Platform
C.
Positi
oning
D.
Portfolio
evaluation
E.
Techniques and
channels
4.
Marketing launches a brand once all the data and evidence required for optimal
commercial differentiation has been gathered.
A. Al
w
ay
s
B.
U
su
all
y
C.
R
a
r
el
y
D.
N
e
v
e
r
5.
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
6.
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
7.
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
8.
If a newly developing product stacks up well against the value proposition initially
developed by Marketing, primary research is conducted during the Discovery and
Development phase. What is NOT typically one of the reasons this research is
conducted?
A.
To develop a supporting communications
strategy
B.
To determine
market size
C.
To better understand optimal product
positioning
D.
To forecast potential
revenue
9.
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
10.
In which stage in the life cycle is the initial commercial plan translated into a
promotional strategy?
A.
Disc
over
y
B.
Develop
ment
C.
Pre
Launc
h
D.
Post
Launch
E.
Pre FDA patent
expiration
11.
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
12.
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
13.
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.
14.
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
15.
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
16.
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
17.
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
an
d
B
E.
A
an
d
C
18.
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.
19.
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
20.
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
21.
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
22.
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
23.
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
24.
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
25.
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
26.
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
27.
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.
28.
Why is a successful product launch considered a make or break factor for the
product?
A.
To showcase its benefits and lack of adverse effects to its target
population
B.
Because the product launch offers the greatest opportunity to differentiate the
product from its competitors
C.
In order to reach the harder-to-reach target populations for which the drug has
been designed
D.
It is not considered the make or break factor. With solid post launch marketing
and strong sales force activities, the product easily reach forecasted sales levels.
29.
What are the two primary metrics that pharma companies use to measure
sales performance?
A.
Product revenue and market
share
B.
Market share and
behavior
C.
Behavior and
compliance
D.
Compliance and product
revenue
30.
Why are real time insights from team members in the field critical to the marketing
efforts of a company?
A.
Because they can provide data for input into the communications
plan
B.
Because it is the sales force, not marketing, that understands how to best reach
consumers
C.
Because team members in the field have more contact with Key Opinion Leaders
and can learn from them how their product is being received
D.
Because they can see first hand how the promotional outreach is being received
in the marketplace
31.
What is an example of a reason why a successful and effective promotional strategy
would have to be altered after launch?
A.
Entry of a new
competitor
B.
Changing reimbursement
policies
C.
Brand
confusion
D.
A
an
d
B
E.
B
an
d
C
32.
True or false: As a brand reaches maturity and patent expiration looms, Marketing
usually increases its promotional investment in that product.
A.
T
r
u
e
B.
F
a
l
s
e
33.
Marketing operates at which two
levels?
A. Industry and
Regional
B.
Global and
Industry
C.
Therapeutic area and
Global
D.
Global and
Regional
34.
Within a global company, after the product is submitted for regulatory approval in a
particular market, who assumes primary responsibility?
A.
Global
marketing
B.
Local
Marketing
C.
Head of
Marketing
D.
Director of
Marketing
35.
Why are many companies adopting the model in which company functions are
organized by therapeutic area?
A.
This model helps them stand stronger against their
competitors
B.
This model encourages greater cross-functional cooperation and greater depth
of therapeutic expertise
C.
This model allows for greater flexibility in the research and discovery
phase
D.
This model is an FDA mandated change to prevent companies from controlling
too big of a share of the market
36.
What is considered the most reliable source of market share/demand
data?
A.
Primary market research conducted on behalf on the pharma
company
B.
Actual prescription data which can be bought from third party
vendors
C.
Supply chain data from pharma company MRP
systems
D.
Market share extrapolation from company sales
figures
37.
What is the approximate split of Pharma Industry promotional efforts between Direct-
to-Consumer spending and Professional spending?
A.
10% DTC / 90%
Professional
B.
40% DTC / 60%
Professional
C.
60% DTC / 40%
Professional
D. 90% DTC / 10%
Professional
38.
What would usually be the best promotional channel to reach Consumers and
Patients?
A.
M
e
d
i
a
B.
Sales
Representatives
C.
Managed Markets Account
Managers
D.
A
an
d
B
E.
B
an
d
C
39.
What would usually be the best promotional channel to reach Government
Payers?
A.
M
e
d
i
a
B.
Sales
Representatives
C.
Managed Markets Account
Managers
D.
A
an
d
B
E.
B
an
d
C
40.
What would usually be the best promotional channel to reach
Physicians?
A.
M
e
d
i
a
B.
Sales
Representatives
C.
Managed Markets Account
Managers
D.
A
an
d
B
E.
B
an
d
C
41.
As patents expire and a brand reaches maturity, what would NOT be an typical
approach to extending the life of a brand?
A.
Obtaining FDA approval for a new
indication
B.
Launching a branded generic version of the
drug
C.
Increase Direct-to-Consumer promotional
activities
D.
Develop a new
formulation
E.
Find out-licensing
opportunities