Deck 3: Brand Equity

Question 1

Brand equity refers to which of the following?

A) How much the brand is worth when we sell it
B) The value of the brand to the user
C) The value of the brand on the firm's balance sheet
D) All of these

Answer 1

D

Question 2

Brands are valuable to firms because ______.

A) they are intangible assets
B) they add to the firm's prestige
C) they are part of any firm's strategic tool kit
D) they make employees feel better

Answer 2

A

Question 3

The financial value of a brand is determined by which of the following?

A) The amount of revenue that can be attributed to the brand
B) The strategic outlook for the brand
C) The strength of the consumer-brand relationship
D) All of these

Answer 3

D

Question 4

Advertisers said they would never again advertise in UK paper News of the World, after a scandal. Is the equity of News of the World ______.

A) low
B) falling
C) high
D) negative

Question 5

Brand equity implies which of the following?

A) That the brand has a strong logo
B) That the brand team invests in advertising
C) The brand makes a difference to key stakeholders
D) None of these

Question 6

Customer-based brand equity refers to which of the following?

A) How many people buy the brand
B) How customers talk about the brand online
C) Whether the brand is relevant to millennials
D) The strength of the customer-brand relationship

Question 7

Keller's customer-based brand equity model identifies we should build brands by doing which of the following?

A) Raising brand awareness
B) Converting aided recognition into unaided recall
C) Building a strong relationship with a category of need
D) All of these

Question 8

The customer-based brand equity model suggests brands are built in steps. Which step is the responsibility of the marketer?

A) Resonance
B) Feelings
C) Salience
D) Judgements

Question 9

The customer-based brand equity model suggests that brand equity is a function of brand image. What does this refer to?

A) Brand associations
B) Recognition
C) Recall
D) Awareness

Question 10

Brand knowledge is important to building brand equity. What are examples of strategies to build knowledge?

A) Advertising functional benefits
B) Campaigns that use liked-celebrities
C) Flagship stores that bring the brand to life
D) All of these

Question 11

Which of the following is a benefit of high channel brand equity?

A) Improved consumer-brand image
B) The ability to charge higher prices
C) Better support from retailers
D) None of these

Question 12

Customer-based brand equity leads to which of the following?

A) Higher price premiums
B) Higher share price
C) Stronger revenue streams
D) All of these

Question 13

Which of the following reflect weak employee brand equity?

A) High turnover among talented staff
B) Lower salaries
C) Lower acquisition costs
D) Stronger representation on university campus job fairs.

Question 14

Influencers prefer brands that do which of the following?

A) Reflect their image
B) Connect to their fans
C) Enhance their audience
D) All of these

Question 15

Popular culture can enhance the equity of a brand through which of the following?

A) Make the brand more attractive to employees
B) Provide licensing fees to the brand
C) Provide free coverage
D) Enhance its cultural authenticity

Question 16

Which of the following are benefits of branding to firms?

A) Improved return on investment
B) Improved sales leads
C) Improved likelihood of innovation success
D) All of these

Question 17

Which of the following benefits of brands helps sales managers?

A) Emotional brand associations
B) Return on investment
C) Marketing pull
D) Lower employee acquisition costs

Question 18

Which of the following benefits of brands helps human resources managers?

A) Emotional brand associations
B) Return on investment
C) Marketing pull
D) Lower employee acquisition costs

Question 19

Which of the following benefits of brands helps operations managers?

A) Higher buyer power
B) Marketing pull
C) Lower employee acquisition costs
D) Higher prices

Question 20

Which of the following benefits of brands helps finance managers?

A) Higher buyer power
B) Employee retention
C) Higher margins
D) Marketing pull

Question 21

Kodak was one of the strongest consumer brands in the 20^th century but subsequently has declined in equity due to a failure to move from analog to digital photography. Using Young & Rubicam's brand asset valuator, define Kodak's problem.

A) The brand is high on both stature and vitality.
B) The brand is high on stature and low on vitality.
C) The brand is low in stature and high on vitality.
D) The brand is low in both stature and vitality.

Question 22

According to Young & Rubicam's Brand Asset Valuator model, a brand that is low in stature is suffering deficits in which of the following?

A) Relevance
B) Differentiation
C) Esteem
D) Influencer support

Question 23

According to Young & Rubicam's Brand Asset Valuator model, brand that is low in vitality is suffering deficits in which of the following?

A) Relevance
B) Knowledge
C) Esteem
D) Influencer support

Question 24

When a critic suggests a mobile phone brand rates poorly on battery life relative to its competitors, what brand equity lever are they referring to?

A) Points of difference
B) Awareness
C) Brand image
D) Points of parity

Question 25

The Volvo brand is rated high, relative to its competitors, on safety and the environment. What brand equity levers do these refer to?

A) Awareness
B) Points of parity
C) Points of difference
D) Recall

Question 26

A brand judged high in character and low in improvisation is classified as which of the following?

A) Poseur
B) Authentic
C) Aloof
D) Nascent

Question 27

A brand judged low in character and low in improvisation is classified as which of the following?

A) Poseur
B) Authentic
C) Aloof
D) Nascent

Question 28

A brand judged high in character and high in improvisation is classified as which of the following?

A) Poseur
B) Authentic
C) Aloof
D) Nascent

Question 29

A brand judged low in character and high in improvisation is classified as which of the following?

A) Poseur
B) Authentic
C) Aloof
D) Nascent

Question 30

A poseur brand suffers from what type of deficit?

A) Authenticity as consistency
B) Authenticity as connection
C) Authenticity as conformity
D) All of these

Question 31

An aloof brand suffers from what type of deficit?

A) Authenticity as consistency
B) Authenticity as connection
C) Authenticity as conformity
D) None of these

Question 32

An aloof brand can overcome its authenticity deficit through which of the following strategies?

A) Investing in brand storytelling
B) Investing in brand purpose
C) Investing in public relations
D) Reinforcing commitment to the past

Question 33

A poseur brand can overcome its authenticity deficit through which of the following strategies?

A) Investing in brand storytelling
B) Investing in brand purpose
C) Investing in new categories
D) Connecting to the latest social media influencer

Question 34

A nascent brand can overcome its authenticity deficit through which of the following strategies?

A) Consistency, connection and conformity
B) Connection, conformity and consistency
C) Conformity, connection and consistency
D) Conformity, consistency and connection

Question 35

Based on the Kodak case in the text, how would you classify the brand?

A) Poseur
B) Authentic
C) Nascent
D) Aloof