Question 1

Which of the following is NOT an example of a sport brand?

Accepted Answer

Real Madrid and LeBron James are both associated with sports, and Nike is a well-known sport brand. State Farm, on the other hand, is an insurance company and not a sport brand.

Question 2

The marketing effect uniquely attributable to the brand, when different outcomes result for a product or a service because of its brand name as compared to if the same products or service did not have that name is:

Accepted Answer

Brand equity is the marketing effect that is uniquely attributable to the brand itself. It represents the value that a brand adds to a product or service, beyond the functional benefits that it provides. Brand equity encompasses the positive associations, perceptions, and attitudes that consumers hold towards a brand, which in turn can impact their purchasing decisions, loyalty, and willingness to pay a premium price.

Question 3

Which of the following influences the development of brand equity?

Accepted Answer

Brand knowledge is a key factor in the development of brand equity, as it encompasses both brand awareness and brand image, which are critical in shaping consumers' perceptions and preferences towards a brand.

Question 4

__________ are informational nodes linked to the brand node in memory and contain the meaning of the brand for the consumers.

Accepted Answer

Brand associations are the informational nodes linked to the brand node in memory and contain the meaning of the brand for consumers. Brand equity refers to the overall value of the brand, which includes brand associations. Image of the team is not related to the concept of brand nodes or associations. Brand knowledge is a broader term that encompasses both brand awareness and brand associations.

Question 5

Which of the following is often a strong determinant of how consumers perceive brands (e.g., high-end)?

Accepted Answer

Price is often a strong determinant of how consumers perceive brands, especially when it comes to high-end brands. High prices can lead consumers to perceive a brand as exclusive, luxurious or of high quality.

Question 6

The Benefits category of brand associations relates to consumers' expectations of the value of using a sport product/service. If the benefits relate to satisfying the needs of pleasure and excitement, this refers to a/an:

Accepted Answer

Experiential benefits relate to satisfying consumers' needs for pleasure, excitement, and fun.

Question 7

Which are the two main aspects of valuation of a brand?

Accepted Answer

The two main aspects of valuation of a brand are financial management and competitive. Financial management aspect involves calculating the financial worth of the brand in terms of revenue, profits, and market value. Competitive aspect involves analyzing the brand's competitive position in the market and its ability to differentiate itself from its competitors. The other options (A, B, and D) are not relevant to brand valuation.

Question 8

The "Branded House" or the "House of Brands" are two examples of what?

Accepted Answer

The "Branded House" and the "House of Brands" are both examples of brand architecture, which refers to the organization and structure of a company's portfolio of brands. The branded house approach emphasizes a strong and consistent master brand (such as Apple), while the house of brands approach emphasizes individual brands with their own unique identities (such as Procter & Gamble with brands like Tide, Pampers, and Crest).

Question 9

Utilizing the slogan, "We are …" is NOT an example of being ________.

Accepted Answer

Utilizing the slogan "We are..." is an example of being distinctive, as it sets the company or organization apart and emphasizes its unique qualities or characteristics. Being distant implies a lack of engagement, being disinterested implies a lack of concern, and being fundamental implies a focus on basic or essential elements, none of which are necessarily related to the use of a slogan.

Question 10

A brand __________ is based on brand associations, which are defined as thoughts and ideas held by actual or potential consumers towards a certain service of product.

Accepted Answer

Brand image is the set of perceptions and beliefs that consumers have about a particular brand. It is based on brand associations, which are the thoughts and ideas held by actual or potential consumers towards a certain service or product. Brand identity refers to the visual elements, such as the logo and packaging, that represent the brand. Brand awareness is the extent to which consumers recognize and remember a brand. Brand equity refers to the value or worth of a brand, which is based on factors such as brand loyalty, awareness, and image.

Question 11

Which of the following are examples of elements of non-product related associations?

Accepted Answer

All of the above elements (logo, brand name, slogans) are examples of non-product related associations as they are all branding elements that are not direct features or attributes of the product itself.

Question 12

Which of the following is NOT a benefit related to consumers' expectations of value of using a product or service?

Accepted Answer

Serviceability is a benefit related to consumers' expectations of value. Functional benefits refer to the practical or utilitarian benefits of a product or service, while experiential benefits refer to the emotional or psychological benefits it provides. Symbolic benefits relate to the social or self-expressive meaning of a product or service.

Question 13

When research has examined brand associations, they tend to fall into which three dimensions?

Accepted Answer

Research has found that brand associations can be categorized into three dimensions: attributes, benefits, and attitudes. Attributes refer to the physical or functional characteristics of the brand, benefits are the value or satisfaction a consumer receives from the brand, and attitudes are the overall feelings or evaluations a consumer has towards the brand.

Question 14

Which of the following have brand associations?

Accepted Answer

All of the choices have brand associations.

Lionel Messi is associated with brands like Adidas, Pepsi, and Mastercard.

The Bundesliga is a professional soccer league in Germany and has brand associations with sponsors like Deutsche Post, Puma, and Volkswagen.

The UFC (Ultimate Fighting Championship) is a mixed martial arts organization with brand associations with sponsors like Reebok, Budweiser, and Modelo.

Question 15

Which of the following was NOT on Forbes list of most valuable sport or athlete brands?

Accepted Answer

The question asks for which brand was NOT on Forbes list of most valuable sport or athlete brands. Microsoft is not a sports brand or athlete brand, therefore it was not on the list. Conor McGregor, The Dallas Cowboys, and FC Barcelona were all on the list.

Question 16

LeBron James partnering with Gatorade is an example of:

Accepted Answer

LeBron James partnering with Gatorade is an example of an endorsed brand where a celebrity or athlete lends their name and image to promote a product or service.

Question 17

Juventus changing their logo was an attempt to reposition their brand to appeal to fans.

Accepted Answer

The answer of Juventus changing their logo was an attempt...

Quiz 4: Sport Consumer Brand Management