Question 1

The total financial benefit that results from owning a brand is quantified through the process of brand ________.&#10;A) differentiation&#10;B) positioning&#10;C) valuation&#10;D) building

Accepted Answer

Brand valuation is the process of determining the total financial value of a brand. This includes factors such as brand recognition, reputation, and customer loyalty. Brand differentiation, positioning, and building are all important aspects of developing a strong brand, but they do not solely quantify the financial benefit of owning a brand.

Question 2

A brand is best defined as a product's ________.&#10;A) logo&#10;B) trademark&#10;C) official trade dress&#10;D) commercial identity

Accepted Answer

A brand is more than just a logo or trademark. It encompasses the entirety of a product's commercial identity, including its name, packaging, messaging, and reputation. A brand serves as a promise of quality and consistency to consumers, distinguishing one product from others in the marketplace.

Question 3

Hierarchical models for measuring brand strength enable marketers to ________.&#10;A) determine the financial value of a brand&#10;B) communicate a consistent brand image&#10;C) assess marketing mix investments&#10;D) strengthen brand heritage

Accepted Answer

Hierarchical models for measuring brand strength help marketers assess the effectiveness of marketing mix investments by analyzing how different elements contribute to brand equity.

Question 4

Brand equity reflects the value that ________ attach to the promise of a brand.&#10;A) producers&#10;B) consumers&#10;C) managers&#10;D) marketers

Accepted Answer

Brand equity reflects the value that consumers attach to the promise of a brand, based on their perceptions of the brand's quality, reliability, and overall reputation. Producers, managers, and marketers may have some influence on shaping and promoting the brand, but ultimately it is the consumer's perception that determines the brand's equity.

Question 5

Which term refers to nonfuctional elements of a product such as package shape,design,and color?&#10;A) trade dress&#10;B) trademark&#10;C) identity&#10;D) logo

Accepted Answer

Trade dress refers to the visual elements of a product that are not essential to its functionality, but help to distinguish it from other products on the market. This includes elements such as package shape, design, and color, as well as other non-functional aspects of a product's appearance. Trademarks, identity, and logos are all related concepts, but they do not specifically refer to non-functional elements of a product's design.

Question 6

According to the text,which brand building element is the most important?&#10;A) social phenomena&#10;B) product and design&#10;C) promotional methods&#10;D) service and distribution

Accepted Answer

The text states that "product and design are the cornerstones of brand building" and that "a strong brand needs to be anchored in a unique product idea or an exceptional design concept." Therefore, it can be concluded that product and design are the most important brand building element.

Question 7

Millward Brown's BrandDynamics model is a commercial tool for measuring brand strength based on categories such as performance,presence,and relevance.

Accepted Answer

This statement is true. Millward Brown's BrandDynamics model is a commercially-available tool for measuring brand strength across categories such as performance, presence, and relevance.

Question 8

Marketing communications effectively build brand equity if they are consistent and focused.

Accepted Answer

Consistency and focus in marketing communications help to establish a clear and recognizable brand identity, which in turn builds brand equity over time. Inconsistent or scattered messaging can dilute the brand and make it harder for consumers to understand and connect with it.

Question 9

What is the first step in building a brand?&#10;A) brainstorming advertising copy&#10;B) selecting a spokesperson&#10;C) forming a positioning statement&#10;D) searching for sponsorships

Accepted Answer

The first step in building a brand is to form a positioning statement, which is a concise statement that defines the brand's unique value proposition and differentiation from competitors. This statement serves as the foundation for all brand identity and communication efforts. Brainstorming advertising copy, selecting a spokesperson, and searching for sponsorships all come later in the branding process once the brand's positioning has been established.

Question 10

The consumer backlash caused by the introduction of New Coke indicated that the brand equity of Coca-Cola relied heavily on brand ________.&#10;A) sponsorships&#10;B) communities&#10;C) promotion&#10;D) heritage

Accepted Answer

The consumer backlash caused by the introduction of New Coke indicated that the brand equity of Coca-Cola relied heavily on brand heritage. The company had built up a strong emotional connection with consumers based on the history and tradition of the brand, and this was disrupted by the introduction of a new formula.

Question 11

The popularity of Cadillac's Escalade among well known athletes and celebrities exemplifies how brands can be built through ________.&#10;A) social phenomena&#10;B) viral marketing&#10;C) aesthetic features&#10;D) product history

Accepted Answer

The answer of The popularity of Cadillac's Escalade among well...

Question 12

Brand ________ answers the questions,&#34;What should my brand stand for?&#34;&#10;A) positioning&#10;B) personality&#10;C) architecture&#10;D) symbolism

Accepted Answer

The answer of Brand ________ answers the questions,&#34;What should my...

Question 13

Brand valuation tools calculate the effectiveness of a specific marketing mix on building brand equity.

Accepted Answer

The answer of Brand valuation tools calculate the effectiveness of...

Question 14

What is a brand? How do brands benefit both customers and firms?

Accepted Answer

The answer of What is a brand? How do brands...

Deck 29: Note : Brands and Branding