Question 1

Cheerios launching Walnut Cheerios cereal is an example of ________.

Accepted Answer

A line extension is when a company introduces a new product within the same product line or brand category, such as introducing a new flavor variant of an existing cereal brand, which is the case with Cheerios launching Walnut Cheerios cereal. Brand extension involves launching a new product under a completely different product category. Cobranding refers to the collaboration between two or more brands to create a new product or marketing campaign. Licensing involves a company allowing another company to use its brand name or intellectual property to create a new product. The product lifecycle refers to the different stages a product goes through from introduction to decline.

Question 2

Retailers and wholesalers who have created their own brands-such as Walmart's Great Value beverages and food products-are participating in co-branding.

Accepted Answer

Creating their own brands, such as Walmart's Great Value, is an example of private labeling, not co-branding. Co-branding involves a partnership between two brands to create a product that features both of their names.

Question 3

A brand name should translate easily into foreign languages.

Accepted Answer

When creating a brand name, it's important to consider its translatability in different languages to ensure consistency and avoid negative connotations or misunderstandings. A name that is difficult to translate or has a different meaning in other languages can lead to a failed international launch or poor brand reputation.

Question 4

One disadvantage of store brands is that they are ________.

Accepted Answer

Store brands, also known as private label brands, can be harder to establish compared to national brands due to lower brand recognition and consumer loyalty. National brands often have established reputations and widespread marketing campaigns that can make them more appealing to consumers, making it challenging for store brands to gain traction.

Question 5

Michelle is describing her vision of the company brand to her vice president. The same brand is described by an employee to a friend. The descriptions and definitions are completely different. This is because ________.

Accepted Answer

No two people perceive a brand in exactly the same way because a brand is not a tangible product, but rather a collection of emotions, perceptions, and experiences associated with a company or product. Personal experiences, values, and opinions can influence how an individual perceives a brand, leading to different descriptions and definitions from person to person.

Question 6

To create brand advocates some brand managers try to make ________ part of the brand story.

Accepted Answer

To create brand advocates, it is important to involve both customers and employees in the brand story. Customers who have a positive experience with a brand are more likely to become loyal brand advocates and share their experience with others. Similarly, employees who have a strong connection to the brand and its values are more likely to be brand advocates and promote the brand to others. By making both customers and employees a part of the brand story, brand managers can create a sense of community and foster loyalty and advocacy.

Question 7

Dove marketers can go beyond the brand's cleansing cream properties and talk about the resulting benefit of softer skin. This is known as product attributes in brand positioning.

Accepted Answer

This is known as focusing on the product benefits in brand positioning, not merely the product attributes. Product attributes are the features or characteristics of a product, while benefits are the value or experience the customer receives from those attributes.

Question 8

To compete with the national brands Loblaws created a private brand called President's Choice. The President's Choice brand bas become so popular that Loblaws now licenses it to retailers in 15 countries where Loblaws has no stores of its own. In effect the private brand has grown into ________.

Accepted Answer

President's Choice, originally a private brand, has expanded its reach internationally, similar to a national brand, by being licensed to retailers in multiple countries.

Question 9

The ________ is the sum total of all the attributes of a brand, and the emotions it inspires in the minds of consumers.

Accepted Answer

The answer of The ________ is the sum total of...

Question 10

A company has four main choices when it comes to brand development. Which of the following best describes these choices?

Accepted Answer

The four main choices for brand development are line extensions (offering additional items in the same product category under the same brand name), brand extensions (using an existing brand name for new or modified products in a new category), multibrands (introducing additional brands in the same category), and new brands (creating a new brand name when it enters a new product category).

Question 11

Before choosing a brand name to use in a foreign country it is a good idea to check ________.

Accepted Answer

It is important to check the trademarks in the foreign country to avoid any legal battles over the use of the brand name.

Question 12

According to the text, the top two Canadian brands are TD and RBC. Their dollar amounts measure ________.

Accepted Answer

The text states that TD and RBC are the top two Canadian brands based on their dollar amounts, which measure the value of the brand. Therefore, option A is the correct choice.

Question 13

Virgin entering the theme park market by creating Virgin Rollercoaster World is an example of a ________.

Accepted Answer

Virgin Rollercoaster World is a new product category for Virgin, entering a completely different market than their traditional areas of business such as airlines and music. This is an example of brand extension - using an existing brand to enter a new market/ product category.

Question 14

Sophia is the newly hired brand manager for a new company in southern Ontario. She knows that before consumers respond to a brand they must first ________.

Accepted Answer

Before consumers respond to a brand, they must know about and understand the benefits. This means that the brand must have a clear message about its unique value proposition that communicates the benefits it provides to potential customers in a compelling way. Without this foundational understanding, all other marketing efforts will be less effective.

Question 15

A couple designed their wedding around the Black & Decker's DeWalt brand. This is an extreme example of ________.

Accepted Answer

This is an extreme example of brand advocacy, where the couple is taking their love for the DeWalt brand to the extreme by designing their wedding around it.

Question 16

In order for customers to choose his brand, Spencer must get his public to see that his brand is ________.

Accepted Answer

To stand out in a crowded market, Spencer's brand needs to be distinctive, or easily recognizable and unique. This will help attract and retain customers who are looking for something different or memorable. A brand that is simple, engaging, or expansive may also be beneficial, but they are not as crucial as being distinctive. Illusive is not a relevant option as it means vague or hard to grasp, which is not a desirable quality for a brand.

Question 17

Before a company blindly decides to incorporate a brand extension, they need to seriously consider which of the following?

Accepted Answer

It is important for a company to consider how well the brand's association fits the new product before incorporating a brand extension. This ensures that the new product aligns with the existing brand image and values, which can positively impact consumer perceptions and purchase intentions. Considering new and past customers preferences can also be important in the decision-making process, but the fit with the brand's association is crucial. Nostalgia and word-of-mouth promotions may also be factors to consider, but they should not be the primary focus in the decision-making process.

Question 18

Brands are powerful. They have status and value. Interestingly brands are really nothing but ________.

Accepted Answer

Brands are essentially ideas that exist in the minds of consumers, representing perceptions, emotions, and associations related to a product or company.

Question 19

Attributes are the least desirable level for brand positioning because competitors can easily copy attributes and customers are more interested in what attributes will do for them than in the attributes themselves.

Accepted Answer

Attributes can be easily copied by competitors, and customers are more interested in the benefits a brand can provide rather than just the features of the product. Therefore, positioning based solely on attributes is not the most effective strategy.

Question 20

The Chevrolet Prism and Toyota Corolla are the same car, made on the same assembly line by the same people, using the same parts, and have the same warranty. Yet, the baseline model of the Toyota Corolla sells for $250 more than its counterpart. We can conclude that Toyota Corolla has ________.

Accepted Answer

The fact that the baseline model of the Toyota Corolla is able to sell for $250 more than its counterpart despite being the same car, made on the same assembly line by the same people, using the same parts, and having the same warranty as the Chevrolet Prism, suggests that Toyota has higher brand equity. This likely means that consumers perceive Toyota as a more desirable and reliable brand, which enables the company to charge a premium for its products.

Quiz 9: Brand Strategy and Management