Deck 7: Brands

Question 1

James can relate to Google because he views himself and Google as innovative.

Answer 1

True

Question 2

Logos are shapes and symbols that may begin with little inherent meaning, but are associated with the brand.

Answer 2

True

Question 3

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.

Answer 3

True

Question 4

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

Question 5

Cognitive maps show what a person thinks when they think of a brand.

Question 6

The meaning of a brand name is built over time.

Question 7

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

Question 8

A brand usually begins with inherent meaning.

Question 9

A brand is first and foremost a name.

Question 10

Brands convey information to customers.

Question 11

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

Question 12

Brand names must have an inherent meaning.

Question 13

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

Question 14

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 15

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

Question 16

Some brands are closely associated with colors.

Question 17

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

Question 18

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

Question 19

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

Question 20

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

Question 21

An example of umbrella branding is Costco selling Starbucks coffee.

Question 22

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

Question 23

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

Question 24

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

Question 25

Store brands can offer decent quality for lower prices because they can advertise cheaply in newspaper and radio ads, and because they can easily promote the brand in-store.

Question 26

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 27

A line extension is where a brand name is applied across different kinds of products.

Question 28

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 29

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

Question 30

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

Question 31

A brand is valued depending on the market value of the brand. In other words, what is the brand worth financially?

Question 32

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

Question 33

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

Question 34

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

Question 35

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 36

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

Question 37

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

Question 38

Retailers and store brands fight over prices. Premium brands have begun to offer their own second label priced
near the store brand's price.

Question 39

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

Question 40

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

Question 41

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 42

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 not .

A) engage the customer verbally
B) bring certain connotations to mind
C) engage the customer sensually
D) disregard cultural meanings

Question 43

Which of the following brand names lacks an inherent meaning?

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

Question 44

What is a new research topic related to brand associations?

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

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 is not a quality associated with the brand name under the company's control?

A) product shape
B) customer feedback
C) packaging
D) logo

Question 47

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 48

Which is not true about firms and brands named after the founder?

A) They tend to have no inherent meaning.
B) They show little creativity in marketing.
C) Customers can easily identify the name and products.
D) They serve primarily as an ego trip for the founders.

Question 49

Which of the following is a branding question a company needs to consider as part of their 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 50

Scott, a young professional, buys a new BMW, even though a Mercede's 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 51

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

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

Question 52

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 feels a personal connection to the brand
D) emotional benefits

Question 53

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 54

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 55

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 consumers self-image
D) maintenance and repair costs are high

Question 56

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

A) 100,000
B) 200,000
C) 400,000
D) 500,000

Question 57

Mac user groups are an example of .

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

Question 58

Companies build associations to their brands through .

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

Question 59

One way marketers get customers to relate to brands is by creating a brand , such as Apple's classification as "exciting" or how Gillette is action oriented.

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

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 to use to value a brand?

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

Question 62

Which is not an example of a store brand?

A) Sam's Choice
B) Kirkland Signature
C) Eating Right
D) Macy's

Question 63

Which of the following is the Interbrand formula to asses 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 64

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

A) brand name
B) logo
C) trademark
D) colors

Question 65

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 66

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) Coca Cola
D) Disney

Question 67

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 68

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) less than ten
B) one
C) more than 10
D) unlimited

Question 69

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

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

Question 70

Which is not an example of brand extensions?

A) Pepsi offers new flavors
B) Titleist outerwear advertises that it uses Goretex in its jackets
C) QuickBooks has its basic software, a version for Macs, another for small business needs, and premier packets for professionals, nonprofits, retailers
D) L'Occitane offers bubble bath and moisturizer lotions

Question 71

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, retailers
D) Brembo brakes are in Aston Martins

Question 72

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

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

Question 73

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 74

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 75

Which branding approach provides stronger financial outcomes to the company?

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

Question 76

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 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

Free-spirits like skateboarders and Burning Man attendees eschew big national brands due to the they represent.

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

Question 79

Most co-branding examples lean more toward being .

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

Question 80

Which is not an example of a company using an umbrella branding approach?

A) Honda's cars, motorcycles and lawn mowers
B) Masterfoods has many major brands including Mars and Pedigree Chum
C) Canon's cameras and copiers
D) Nike makes shoes, clothes and gym bags