Question 1

Brand equity from the customer's perspective consists of _____.

Accepted Answer

Brand equity from the customer's perspective consists of two components: brand awareness and brand image. Brand awareness refers to the extent to which customers are familiar with a particular brand name, while brand image refers to customers' perceptions of the brand, including their perceptions of its quality, reliability, and overall appeal. Choice B (brand awareness and brand preference) is incorrect because brand preference is not a component of brand equity from the customer's perspective. Choices C, D, and E (brand image and brand insistence, brand image and brand tolerance, and brand awareness and brand tolerance) are incorrect because brand insistence and brand tolerance are not components of brand equity from the customer's perspective.

Question 2

Maria is asked by a market researcher to tell him the particular thoughts and feelings she has about Starbuck's coffee.A particular thought or feeling that comes to Maria's mind is known as a(n)_____.

Accepted Answer

A particular thought or feeling that comes to Maria's mind in relation to Starbucks coffee is known as an association. This term is used in marketing to describe the mental connections or links that consumers make between a brand and certain thoughts, feelings, attributes, or experiences.

Question 3

Which of the following statements is true regarding brand awareness?

Accepted Answer

Building brand awareness is necessary but not sufficient for brand equity enhancement. Other steps, such as creating positive brand associations and building a strong brand image, are also important for building brand equity.

Question 4

The revenue differential between a branded item and a corresponding private labeled item is known as _____.

Accepted Answer

Revenue premium refers to the additional revenue generated by a branded product compared to a private labeled product, due to brand recognition and perceived value.

Question 5

Toyota automobiles are regarded by consumers as reliable,intelligent,and successful.The levels of satisfaction of Toyota owners is at or near the top of satisfaction ratings.Which brand-related personality dimension best describes Toyota?

Accepted Answer

The brand-related personality dimension that best describes Toyota is competence, as it is viewed as a reliable, intelligent, and successful brand. This aligns with the competence dimension, which emphasizes trust, reliability, and capability.

Question 6

_____ refers to the extent to which a brand name comes to mind when consumers think about a particular product category and the ease with which the name is evoked.

Accepted Answer

Brand awareness refers to the extent to which a brand name is familiar to consumers and the ease with which it is recognized. It is the degree to which a consumer can identify the brand under different conditions, such as when it is seen or heard, or when the product category is mentioned. It is an important factor for brand recognition and brand recall.

Question 7

Research has identified _____ dimensions that seem to capture the personalities of a variety of consumer brands.

Accepted Answer

Research has identified five dimensions (sincerity, excitement, competence, sophistication, and ruggedness) that seem to capture the personalities of a variety of consumer brands.

Question 8

The basic dimension of brand equity is _____.

Accepted Answer

The answer of The basic dimension of brand equity is...

Question 9

Brand _____ reflects a relatively superficial level of awareness,whereas brand _____ indicates a deeper form of awareness.

Accepted Answer

Recognition is a relatively superficial level of awareness, indicating the ability of consumers to identify the brand when it is presented to them, while brand recall indicates a deeper form of awareness, indicating the ability of consumers to retrieve the brand from memory when given a product category or other relevant cues.

Question 10

The types of associations that come to the consumer's mind when contemplating a particular brand is known as _____.

Accepted Answer

Brand image refers to the types of associations that come to the consumer's mind when contemplating a particular brand. It includes attributes, benefits, and attitudes that consumers associate with the brand. Brand equity refers to the value that a brand adds to a product, which may be a result of factors such as brand awareness, brand image, brand loyalty, and perceived quality. Brand awareness refers to the extent to which consumers are familiar with a brand, while brand cognitions refer to the thoughts and beliefs that consumers have about a brand. Brand parity refers to the perceived similarity between different brands within a product category.

Question 11

What is the initial challenge for new brands?

Accepted Answer

The initial challenge for new brands is to achieve brand awareness. Building brand awareness helps to create familiarity with the brand and its offerings among the target audience. It is the first step in building a successful brand as it lays the foundation for creating brand preference and brand insistence. Enhancing brand image, achieving brand preference and brand insistence, and building revenue premium are important objectives for a brand, but they cannot be achieved without first achieving brand awareness.

Question 12

Maria is asked by a market researcher to list all the brands of toothpaste she can think of.Which type of awareness is this assessing?

Accepted Answer

This question is asking Maria to recall all the toothpaste brands she knows, which is a type of recall awareness.

Question 13

From the perspective of the customer or consumer,_____ is the extent to which they are familiar with the brand and have stored in their memory favorable,strong,and unique brand associations.

Accepted Answer

The answer of From the perspective of the customer or...

Question 14

Tide laundry detergent is a well known brand that sells for approximately $8.00 for a 64 ounce bottle,and Procter & Gamble usually sells 2 million of these sizes each year.An average private label store brand costs $6.00 for the same size,and typically 1 million are sold each year.What is Tide's revenue premium?

Accepted Answer

Tide's revenue premium is calculated by comparing its revenue to that of the average private label store brand. Tide sells 2 million bottles at $8 each, totaling $16 million. The private label sells 1 million bottles at $6 each, totaling $6 million. The difference in revenue, or the premium, is $10 million.

Question 15

The pinnacle of brand-name awareness that exists when your company's brand is the first brand that consumers recall when thinking about brands in a particular product category is known as _____.

Accepted Answer

The term described in the question is top-of-mind awareness (TOMA).

Question 16

Brand associations can be conceptualized in terms of _____.

Accepted Answer

All the options (type, favorability, strength, uniqueness) can be used to describe brand associations. Type refers to the category or class of associations, favorability refers to the degree to which associations are positive or negative, strength refers to the extent to which associations are firmly held or quickly forgotten, and uniqueness refers to the distinctiveness of a brand’s associations compared to its competitors.

Question 17

Bill is given a list of brands of shaving products by a researcher and is asked to mark all those that he is aware of.Which level of awareness is this assessing?

Accepted Answer

Recognition is assessed when individuals identify a brand from a list, as opposed to recalling it without any prompts.

Question 18

A research study involving McDonald's products discovered a new form of firm-based brand equity that has been labeled _____ brand equity.

Accepted Answer

The answer of A research study involving McDonald's products discovered...

Question 19

This dimension includes brands that are down-to-earth,honest,wholesome,and cheerful.

Accepted Answer

The dimension described is sincerity, which includes brands that have traits such as honesty, wholesomeness, and cheerfulness.

Question 20

Which of the following is NOT a personality dimension that describes most brands?

Accepted Answer

The answer of Which of the following is NOT a...

Quiz 2: Enhancing Brand Equity and Accountability