Question 1

________ are devices that can be trademarked and serve to identify and differentiate the brand.

Accepted Answer

Brand elements are the identifiable components that serve to distinguish a brand from other brands. They can include things such as logos, slogans, packaging, and even sounds or colors. These elements can be trademarked and protected to ensure that they remain unique to the brand.

Question 2

The traditional "marketing-mix" concept and the notion of the "four Ps" may not adequately describe modern marketing programs. ________ is about mixing and matching marketing activities to maximize their individual and collective effects.

Accepted Answer

The traditional marketing-mix concept and the notion of the four Ps (product, price, place, and promotion) may not adequately describe modern marketing programs. Integrated marketing is about mixing and matching marketing activities to maximize their individual and collective effects. Integrated marketing involves coordinating all aspects of marketing communications, including advertising, sales promotion, public relations, personal selling, direct marketing, and online marketing, to deliver a clear, consistent, and compelling message about the brand to customers.

Question 3

From a marketing management perspective, there are three main sets of brand equity drivers. Which of these drivers was most applicable when McDonald's decided to use the "golden arches" and Ronald McDonald as symbols of their brand?

Accepted Answer

The initial choices for the brand elements or identities making up the brand are the most applicable set of brand equity drivers in the case of McDonald's use of the "golden arches" and Ronald McDonald. These brand elements were carefully selected to create a memorable and easily recognizable brand identity, which has become a key asset for McDonald's in building brand equity. The other sets of brand equity drivers may also apply to McDonald's overall marketing strategy, but they are not the most relevant in this specific case.

Question 4

A ________ is a specialized group of consumers and employees whose identification and activities focus around the brand.

Accepted Answer

A brand community is a group of consumers and employees who identify with and are passionate about a particular brand. They often come together online or in person to discuss the brand, share experiences, and provide feedback to the company. The brand community provides a sense of belonging and fosters brand loyalty among its members.

Question 5

Which of the following value creation processes means detailing the brand relationship journey in a narrative way, often anchored by and peppered with milestones?

Accepted Answer

The answer of Which of the following value creation processes...

Question 6

If a brand element can be used to introduce new products in the same or different categories, the brand element is said to be ________.

Accepted Answer

A brand element that can be used for introducing new products in different or same categories is said to be transferable. This means that the brand element is versatile and can work well in various contexts, making it easier for the brand to expand its product line without having to create a new brand element or identity from scratch. By having a transferable brand element, the brand can capitalize on existing brand recognition and awareness, which can help in building a strong brand portfolio.

Question 7

A ________ can be defined as any information-bearing experience a customer or prospect has with the brand, the product category, or the market that relates to the marketer's product or service.

Accepted Answer

A brand contact refers to any interaction a customer or prospect has with a brand, product category, or market that is related to the marketer's product or service. These interactions can include advertising, customer service, product packaging, social media, and more. Brand contacts can shape a customer's perception of a brand and can influence their purchasing decisions.

Question 8

A structured approach to assessing the sources and outcomes of brand equity and the manner in which marketing activities create the financial worth of the brand is called ________.

Accepted Answer

The structured approach described in the question is referred to as the brand value chain.

Question 9

Which of the following value creation processes means sharing the brand "good news" and inspiring others to use the brand?

Accepted Answer

Evangelizing means spreading the word about a brand and inspiring others to use it, which is a value creation process that can increase brand awareness and loyalty. Staking refers to claiming a position or territory in a market, badging refers to using symbols or signs to denote status or achievement, justifying refers to providing reasons or explanations for a brand or product, and milestoning refers to marking significant events or achievements in a brand's history.

Question 10

With respect to powerful brand elements, ________ is an extremely efficient means to build brand equity. This element functions as a useful "hook" or "handle" to help consumers grasp what the brand is and what makes it special.

Accepted Answer

A slogan is an extremely efficient means to build brand equity, functioning as a useful "hook" or "handle" to help consumers grasp what the brand is and what makes it special. A slogan can capture the essence of a brand's appeal and could be easily remembered by consumers.

Question 11

If consumers can easily recall and recognize a brand element, the brand element is said to be ________.

Accepted Answer

If consumers can easily recall and recognize a brand element, it is said to be memorable. The other answer choices do not accurately define this concept.

Question 12

IBM's e-business campaign not only helped to change public perceptions of the company in the marketplace, it also sent a signal to employees that IBM was determined to be a leader in the use of Internet technology. Which principle of internal branding does this example portray?

Accepted Answer

The example portrays the principle of linking internal and external marketing, as the e-business campaign not only changed public perceptions but also sent a signal to employees.

Question 13

Li Ning Sports Goods associates itself with the Olympics. It sponsored the Chinese table tennis, diving, gymnastics, and shooting teams. From a marketing management perspective, which of the brand equity drivers is most applicable in the given scenario?

Accepted Answer

The driver of brand equity in this scenario is the associations indirectly transferred to the brand by linking it to a place or thing - in this case, the Olympics. By sponsoring Olympic teams, Li Ning Sports Goods is creating a strong association between their brand and the prestigious international sporting event, which can enhance the brand's perceived quality, credibility, and relevance in the minds of consumers.

Question 14

Brand equity can be built by ________, which create(s) equity by linking the brand to other information in memory that conveys meaning to customers.

Accepted Answer

Secondary associations are external connections that a brand can create or capture in order to enhance its brand equity. These connections can include things such as sponsorships, partnerships, or endorsements, which link the brand to other information in customers' memories and convey additional meaning and value.

Question 15

Which of the following value creation processes means translating milestones into symbols and artifacts?

Accepted Answer

Badging is the value creation process of translating milestones into symbols and artifacts, often in the form of digital badges or physical tokens of achievement.

Question 16

Mark feels that Shell delivers on its promises to supply the best petrol possible to the public. His experiences with Shell have always been good resulting in positive brand contact. Mark is most likely experiencing ________.

Accepted Answer

Mark's positive experiences with Shell have led to a strong emotional connection or bonding with the brand. This is known as brand bonding.

Question 17

Red Bull enlisted polytechnic students as "Red Bull student brand managers" to distribute samples, research drinking trends, design on-campus product promotion activities, and write stories for student newspapers. From a marketing management perspective, which of the following brand equity drivers is most applicable in the given scenario?

Accepted Answer

The most applicable brand equity driver in this scenario is the product and all accompanying marketing activities and supporting marketing programs. Red Bull is utilizing its product by distributing samples and researching drinking trends to promote their brand on campus. They are also using on-campus activities and student newspapers to market their product to potential customers. These efforts are all part of the overall marketing program and support the brand's equity.

Question 18

Which of the following is a defensive criterion for choosing brand elements?

Accepted Answer

Adaptability as a brand element makes it defensive as it enables the brand to make changes as per the market demands and keeps the brand relevant. It also helps the brand to stand out among the competitors.

Question 19

________ consists of activities and processes that help inform and inspire employees about brands.

Accepted Answer

Internal branding consists of activities and processes that help inform and inspire employees about brands. It involves creating a consistent brand message and aligning employees' actions and behaviors with the brand's core values and mission.

Question 20

Competitive superiority and channel support are factors that influence the ________ of the brand value chain.

Accepted Answer

The answer of Competitive superiority and channel support are factors...

Quiz 9: Creating Brand Equity