Question 1

A __________ is the set of all brand lines that a particular seller makes available to buyers.

Accepted Answer

A brand mix is the set of all brand lines that a particular seller makes available to buyers. A brand line refers to a group of related products within a brand, while a family brand is a type of branding where a company uses its own corporate name to distinguish all its product brands. Brand variants refer to different sizes, flavors, or forms of a product. House of brands is a branding strategy where a company operates multiple individual brands, each with its own identity, rather than using a single corporate brand to sell multiple products.

Question 2

Both brand equity and ______ emphasize the importance of customer loyalty and the notion that value is created by having as many customers as possible.

Accepted Answer

Customer equity emphasizes on the overall value of a customer to a company. It focuses on building customer lifetime value and customer loyalty which is similar to the notion of value creation through having as many customers as possible.

Question 3

Brand equity tends to emphasize strategic issues in managing brands and creating and leveraging brand awareness and ________ with customers.

Accepted Answer

The answer of Brand equity tends to emphasize strategic issues...

Question 4

Any time a consumer thinks of a dependable car battery that might be needed in an emergency situation such as a snow storm, the consumer thinks first of Die Hard batteries. This would be an example of what is called brand ________.

Accepted Answer

Brand salience refers to the degree to which a particular brand is easily and often called to mind when a consumer is making a purchase decision. In this case, when the consumer thinks of a reliable car battery in an emergency situation, the first brand that comes to mind is Die Hard, indicating high brand salience.

Question 5

From a marketing management perspective, there are three main sets of brand equity drivers. Which of these drivers was most applicable when Concrobium carefully chose the blue and green colours that characterize both its products and website?

Accepted Answer

The initial choices for the brand elements or identities making up the brand are the most applicable brand equity drivers when it comes to choosing colours for a brand's products and website. This includes decisions about the brand name, logo, packaging, and visual identity. Therefore, Concrobium's choice of blue and green colours reflects the company's careful consideration of its brand elements to create a cohesive and recognizable brand identity.

Question 6

With respect to the brand resonance pyramid, at which of the following "building block levels" would we expect the consumer to have developed an intense, active loyalty?

Accepted Answer

The building block level at which we would expect the consumer to have developed an intense, active loyalty is resonance. Resonance represents the highest level of brand loyalty where consumers feel a deep personal connection with the brand, leading them to become strong advocates and loyalists. At this level, consumers are highly engaged and emotionally bonded with the brand, making them more likely to make repeat purchases, recommend the brand to others, and defend the brand against competitors.

Question 7

Many companies are now introducing __________, which are specific brand lines supplied to specific retailers or distribution channels.

Accepted Answer

Branded variants are specific brand lines supplied to specific retailers or distribution channels, allowing companies to tailor products to different market segments.

Question 8

Six brand elements assist in brand building. Which of the following relates to how easily the brand can be recalled and recognized?

Accepted Answer

Memorable relates to how easily the brand can be recalled and recognized.

Question 9

There are four key components of brand equity. Which of those components or pillars measures the breadth of a brand's appeal?

Accepted Answer

The component that measures the breadth of a brand's appeal is relevance. This refers to how a brand meets the needs and wants of consumers, and how it fits into their lives. Therefore, the correct answer is D) relevance.

Question 10

The MasterCard "priceless" ad campaign is a good example of brand duality. Two advantages of the brand are demonstrated in this campaign. What are those advantages?

Accepted Answer

The MasterCard "priceless" ad campaign demonstrates both rational (the actual cost of the purchase) and emotional (the sentimental value of the experience) advantages of using the brand.

Question 11

Which of the following "six brand building blocks" refers to the nature of the relationship that customers have with the brand and the extent to which customers feel that they are in sync with the brand?

Accepted Answer

Brand resonance refers to the nature of the relationship customers have with the brand, including their emotional connection and loyalty. The brand building blocks are a framework developed by Keller to identify the key components of building a strong brand. Brand performance refers to how well the brand meets customer needs, brand feelings refer to emotional responses, brand salience refers to how easily the brand comes to mind, and brand imagery refers to the visual and sensory aspects of the brand.

Question 12

Two pillars that point to the brand's future value, rather than just reflecting its past, are differentiation and relevance. Differentiation and relevance combine to determine what is called brand

Accepted Answer

Differentiation and relevance are key factors in determining a brand's strength. Differentiation ensures that a brand stands out from its competitors, while relevance ensures that it meets the current needs and desires of its target audience. Together, they contribute to the overall strength of the brand by making it both unique and necessary in the eyes of consumers.

Question 13

Consumers will grant or not grant permission for where they believe a brand should go. What was the reason behind the failure of new products such as Cracker Jack cereal and Frito-Lay lemonade?

Accepted Answer

Consumers found these products to be inappropriate extensions of the brand, meaning they did not align with the brand's image or consumer expectations. This resulted in a lack of permission and ultimately, failure in the market.

Question 14

________ are those trademarkable devices that serve to identify and differentiate the brand.

Accepted Answer

Brand elements are the trademarkable devices that serve to identify and differentiate the brand. These include names, logos, slogans, jingles, packaging, and other visual or auditory cues that are associated with a specific brand. By creating distinctive brand elements, companies can make it easier for consumers to recognize and remember their brands, which can lead to increased brand loyalty and sales.

Question 15

If a manager is looking for a "report card" on past performance of a brand, he or she should turn to an examination of the brand

Accepted Answer

The correct answer is C) stature. Brand stature is a measure of a brand's past performance, reflecting its current status and reputation in the market. It encompasses aspects like loyalty, awareness, perceived quality, and associations, which collectively serve as a "report card" on how well the brand has performed over time.

Question 16

Swiss Army watches is an example of ________.

Accepted Answer

Swiss Army watches is an example of category extension, which is a strategy of launching a new product in a different category under an existing brand name. In this case, the brand name "Swiss Army" was extended from knives to watches. Brand dilution occurs when a brand's image is weakened by introducing too many unrelated or low-quality products, which is not the case with Swiss Army watches. Branded variants refer to different versions of a product under the same brand, while house of brands lists multiple brands owned by the same parent company. Brand mix refers to the combination of brands used by a company to achieve its marketing goals.

Question 17

One of the advantages enjoyed by a brand is how aesthetically appealing its products are perceived to be. Which of the following brand element choice criteria matches Flikr photo sharing's playful URL name?

Accepted Answer

The playful URL name of Flikr is likely to be perceived as likable due to its fun and engaging nature, which can enhance the brand's appeal.

Question 18

According to the BRANDZ model of brand strength, brand building involves a sequential series of steps. Which of these steps would address or answer the question "Do I know about it?"

Accepted Answer

The step that addresses the question "Do I know about it?" is presence. This step focuses on increasing awareness and visibility of the brand among the target audience. It includes activities such as advertising, public relations, and event sponsorships.

Question 19

Building a unique, clear brand position has enabled Staples Business Depot to become Canada's largest supplier of office supplies and business services. This clear positioning reflects which of the five pillars of brand equity?

Accepted Answer

Building a unique and clear brand position is directly related to brand differentiation, which helps a brand stand out from its competitors and gain a unique identity in the market. This has enabled Staples Business Depot to become Canada's largest supplier of office supplies and business services.

Question 20

With respect to the "six brand building blocks," ________ focus on customers' own personal opinions and evaluations.

Accepted Answer

Brand judgments refer to customers' own personal opinions and evaluations of the brand, which include perceived quality, credibility, consideration, and superiority. This block is all about customers' subjective evaluations of the brand. The other brand building blocks are as follows: brand performance, brand imagery, brand resonance, and brand salience.

Quiz 9: Creating Brand Equity