Deck 7: Brands

Question 1

All associations between the product and its consumer are beyond the company's control.

Answer 1

False

Question 2

The meaning of a brand name is built over time.

Answer 2

True

Question 3

Customers who participate in repeat purchasing are willing to pay premium prices for the brands they value.

Answer 3

True

Question 4

Some brands are closely associated with particular colors.

Question 5

Concrete features of a product are the hardest to deliver and explain to customers.

Question 6

A brand usually begins with inherent meaning.

Question 7

The U.S.Patent and Trademark Office issues more than 300,000 new brands each year.

Question 8

Brands convey information to customers.

Question 9

Jasmine is a senior executive of a very successful 100-year-old company.Some younger employees in the marketing department want to update the company's logo, but Jasmine and other senior executives feel that a company lucky enough to survive for decades does not have to change or modify its logo.The executives are correct in their assessment.

Question 10

Brand names must have an inherent meaning.

Question 11

Marketers believe that brands such as Coca-Cola have value above and beyond the benefits of the products themselves.

Question 12

Companies use brands to provide different offerings to satisfy different market segments.

Question 13

James can relate to Rolex because he views himself and Rolex as sophisticated.

Question 14

A brand association network shows the connections people make to a brand.

Question 15

William is starting an advertising agency and is considering several names for his agency.In choosing a brand name (i.e., company name), it should convey information about the benefits of the brand rather than simply representing the name of the person founding the brand.

Question 16

A good brand goes beyond labeling a product.It is a portfolio of qualities connected with that name.

Question 17

Logos are shapes and symbols associated with a brand and become shorthand for the brand itself.

Question 18

A brand carries a promise that it can help customers achieve the persona to which they aspire.

Question 19

A brand is first and foremost a name.

Question 20

Reliability implies a consistency or predictability in the performance of the product.

Question 21

None of the personality profiles for brands are better than the others; they're just all different.

Question 22

A line extension is the application of a brand name across the breadth of a company's products.

Question 23

One of the most famous examples of umbrella branding approach is Procter & Gamble with about 80 major brands.

Question 24

An example of deepening brand extensions is Oscar Meyer selling hot dogs that are different lengths.

Question 25

The distinction between a brand and line extension is not always clear.

Question 26

A strength of the umbrella branding approach is that once the company brand is established in the marketplace, subsequent product introductions are easier for customers to accept.

Question 27

A true global brand carries one brand name and logo, anywhere it is offered, and it is available in most world markets.

Question 28

Ingredient branding is the primary form of line extension in which one company and its product is the primary host and another company and its product add value to the host product.

Question 29

Interbrand finds the value of a brand by assessing the value of the firm and then subtracting the physical and financial assets.

Question 30

Store brands offer poor quality for lower prices because they are made from cheap materials.

Question 31

Premium brands have begun to offer their own second label priced near the store brand's price.

Question 32

Store brands do not play a major role in the market.

Question 33

A company that attaches the same name brand to all of its products is using the house of brands approach.

Question 34

Brand extensions are a strategic use of a brand's equity, in which the marketer leverages the brand's good name to get customers to buy something new.

Question 35

It's rare for brands to engage their customer's hearts and minds.

Question 36

The house of brands approach to branding provides stronger financial outcomes to a company than the umbrella branding strategy.

Question 37

Coke might have to brand its "Diet Coke" another name in other countries because of legal or cultural reasons.

Question 38

If brands are assets, monetary figures can be attached to their worth.

Question 39

Marketers want to measure the worth of a brand so they can assess a keep/sell scenario with the brand.

Question 40

Titleist Golf produces many major brands that all have their own brand name (ex., Titleist, Footjoy, Staysoft, Long Drive, etc.).This is a house of brands approach to brand naming,

Question 41

Nancy is considering whether her toy manufacturing business should develop its own brand.Which is a company reward Nancy can expect from branding?

A) Brands enhance loyalty.
B) Brands confer status.
C) Brands signal consistent quality.
D) Brands convey information.

Question 42

A __________ is a group of customers who love their brand so much that they like to connect with other customers who think like themselves.

A) brand group
B) brand community
C) brand ambassador group
D) brand conglomerate

Question 43

Which of the following topics related to brand associations has been researched recently?

A) status symbols
B) tourism marketing
C) brand similarities
D) brand personalities

Question 44

A connection of nodes that deal with brand name, attributes, and abstract benefits is considered a(n)

A) brand community.
B) emotional connection.
C) brand association network.
D) brand mapping.

Question 45

Branding cities and countries is becoming increasingly popular, as destinations seek more tourism and/or

A) business investment.
B) recognition.
C) taxes.
D) population.

Question 46

Which of the following is a branding question a company needs to consider as part of its overall marketing strategy?

A) Should we offer multiple products under the same brand name, or roll them out with distinct brand names?
B) How can we build our brand community?
C) Should we change our current brand name?
D) Should we form a brand conglomerate?

Question 47

Companies build associations to their brands through

A) classical conditioning.
B) operant conditioning.
C) learning.
D) behavioral studies.

Question 48

Which of the following brand names lacks an inherent meaning?

A) Coca-Cola
B) Nike
C) Trump Towers
D) Geek Squad

Question 49

Which of the following statements is true about firms and brands named after the founder?

A) They tend to have an inherent meaning.
B) They show creativity in marketing.
C) They do not translate well to other brands across the firm.
D) They serve primarily as an ego trip for the founders.

Question 50

Mac user groups are an example of

A) a brand community.
B) an emotional connection.
C) free advertising.
D) personal benefits.

Question 51

What is the key brand association?

A) attributes such as appealing color and a creative name
B) personal benefits of the product
C) the extent to which the consumer relates to the brand
D) emotional benefits

Question 52

Scott, a young professional, buys a new BMW, even though a Mercedes would have cost him less.Scott values the BMW brand.This is an example of

A) a status symbol.
B) a market segment.
C) paying a premium price.
D) predictability in quality.

Question 53

Anne and Joseph lead the product development team for a national GPS system manufacturer.In reviewing customer satisfaction survey results, they find that product reliability is one of their customers' biggest complaints.From a marketing perspective, reliability in a product means

A) it is expensive to own one.
B) the product will perform to quality standards.
C) the prestige of the product bolsters the consumer's self-image.
D) maintenance and repair costs are high.

Question 54

One way marketers get customers to relate to brands is by using a brand __________, such as Google's classification as "exciting" or Rolex's classification as sophisticated.

A) spokesperson
B) image
C) personality
D) awareness

Question 55

Scott, a young professional, buys a new BMW.Scott's new BMW is an example of

A) a status symbol.
B) a market segment.
C) paying a premium price.
D) predictability in quality.

Question 56

ABC Company is entering a new international market and has decided to enter the market under a different brand name.The selected brand name should

A) use the founder's name.
B) convey information about benefits.
C) be as short as possible.
D) disregard cultural meanings.

Question 57

Which of the following elements is a quality associated with the brand name under the company's control?

A) target segment
B) customer feedback
C) packaging
D) customers' experiences

Question 58

Which of the following is not a physical quality of branding?

A) name and logo
B) color
C) packaging
D) cognitive association

Question 59

How many new brands are issued annually by the U.S.Patent and Trademark Office?

A) 25,000
B) 50,000
C) 75,000
D) more than 100,000

Question 60

Companies who survive for decades need to __________ their logos.

A) colorize
B) keep
C) adapt
D) simplify

Question 61

Which of the following is not a source used to value a brand?

A) annual reports
B) customer surveys
C) focus groups
D) Interbrand calculations

Question 62

In order to best value a brand, how should it be measured?

A) according to popularity
B) by using focus groups
C) by using a market survey
D) by using means that best translates into a financial vocabulary

Question 63

Which of the following examples identifies a store brand?

A) Sam's Choice
B) Premium
C) second label
D) generic brand

Question 64

Why can a store brand offer decent quality for lower prices?

A) inexpensive products compared to national brands
B) inexpensive packaging compared to national brands
C) lower advertising costs because they can advertise for free in the store
D) lower taxes than national brands

Question 65

Brand 123 has customers in many countries purchasing its bicycles, but its managers are unsure if the brand is truly a "global brand." To be a global brand, how much of Brand 123's revenue should come from other countries?

A) 70%
B) 30%
C) 40%
D) 50%

Question 66

Free spirits eschew big national brands due to the __________ they represent.

A) value
B) image
C) commercialism
D) country of origin

Question 67

Most co-branding examples lean more toward being

A) brand personalities.
B) umbrella branding.
C) luxury branding.
D) ingredient branding.

Question 68

Generally, it is better to use the same __________ worldwide if possible.

A) brand name
B) advertisement
C) price
D) store brand

Question 69

A brand name whose image is waning is less of a liability in which approach?

A) umbrella approach
B) community approach
C) house of brands
D) marketing approach

Question 70

An estimated _____ of a typical firm's value is determined by intangible assets, including its brand names.

A) 50%
B) 33%
C) 25%
D) 75%

Question 71

Which of the following is the Interbrand formula to assess the value of a brand?

A) value of firm minus physical and financial assets
B) price of brand minus packaging cost
C) tangible value minus intangible value
D) value of firm minus administrative costs

Question 72

__________ is the strategic use of a brand's equity where the firm uses the brand's name to get customers to buy something new.

A) House of brands
B) Umbrella branding
C) Co-branding
D) Brand extension

Question 73

Frank and Joe are researching the value of top brands for their marketing class, and they find out that, according to BusinessWeek, the top U.S.brand in terms of brand worth is

A) McDonald's.
B) Microsoft.
C) Apple.
D) Google.

Question 74

Which is an example of co-branding?

A) Krispy Kreme gets a new donut flavor.
B) Nike offers golf balls as part of its golf line.
C) QuickBooks has its basic software, a version for Macs, another for small business needs, and premier packets for professionals, nonprofits, and retailers.
D) Brembo brakes are in Aston Martins.

Question 75

Which of the following is an example of a company using a house of brands approach?

A) Honda has cars, motorcycles, and lawn mowers.
B) Procter & Gamble has many brands including Crest and Swiffer.
C) Canon makes cameras and copiers.
D) Nike makes shoes, clothes, and gym bags.

Question 76

__________ branding is the primary form of co-branding in which one of the companies and its product is the primary host and the other company and its product add value to the host product.

A) Ingredient
B) Associated
C) Global
D) Enhanced

Question 77

Strong brands

A) are a liability.
B) deliver greater returns with less risk.
C) guarantee success for a company.
D) are the most significant barrier to entry in the market.

Question 78

Which branding approach provides stronger financial outcomes to the company?

A) umbrella approach
B) house of brands
C) community branding
D) marketing approach

Question 79

A true global brand carries __________ brand name(s) and logo(s) anywhere it is offered, and it is available in most markets in the world.

A) at least five
B) one
C) more than 10
D) unlimited

Question 80

Which of the following items is an example of brand extension?

A) Dove soaps offer deodorant, body lotions, and hair care products, all called Dove.
B) Intel is inside many PCs.
C) Dawn dish soap and OLAY offer a hand renewal version of Dawn.
D) Tide detergent contains the self-branded EverFresh scent.