Question 1

______ is defined as a summary of unique qualities attributed to the brand.

Accepted Answer

There must be real, identifiable, and meaningful differences among products. If all products are perceived to be equal, then it is more difficult to create a brand identity, which is a summary of unique qualities attributed to the brand.

Question 2

The American Marketing Association defines _____ as "a name,term,sign,symbol,or design,or a combination of them,intended to identify the goods or services of one seller or groups of sellers and to differentiate them from those of competitors."

Accepted Answer

A brand, as defined by the American Marketing Association, is "a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or groups of sellers and to differentiate them from those of competitors."

Question 3

Food product manufacturers are required to list the number of calories at the top of the nutrition panel.Posting calorie information is an example of a(n)_______.

Accepted Answer

The FDA requires all processed-food companies to provide detailed nutritional information clearly identifying calories, fats, carbohydrates, and other information.

Question 4

The marketing manager for ABC Appliances is working on the warranty for the company's new line of dishwashers.She is considering a two-year total warranty based on costs,but the competition offers a four-year total warranty and a five-year mechanical warranty.She is worried that the shorter warranty she is planning will make customers think that ABC's dishwashers are inferior in quality.She should think about the _______ of the warranty.

Accepted Answer

Warranties convey a powerful message to the customer about perceived product quality and manufacturer commitment to customer satisfaction. Particularly with expensive products or purchase decisions in which the customer has anxiety, the warranty can play a significant role in the final product choice. As a result, companies focus a lot of time not only creating the warranty but also considering how best to communicate it to the customer.

Question 5

David Aaker defines _____ as "a set of assets (and liabilities)linked to a brand's name and symbol that adds to (or subtracts from)the value provided by a product or service to a firm or that firm's customers."

Accepted Answer

Brand equity can be defined as "a set of assets (and liabilities) linked to a brand's name and symbol that adds to (or subtracts from) the value provided by a product or service to a firm or that firm's customers."

Question 6

Victorinox,maker of the Swiss Army knife,warrants its knives to be "free from defects in material and workmanship for the entire life of the knife." These is an example of a ________.

Accepted Answer

The manufacturer's promise of performance helps define the brand for the customer. Victorinox, maker of the famous Swiss Army knife, states its warranty as follows: "Swiss Army Brands Inc., warrants its Victorinox Original Swiss Army Knives to be free from defects in material and workmanship for the entire life of the knife." Swiss Army Knives have the reputation of being among the best knives in the world, and the company's warranty supports that perception.

Question 7

The manufacturer of Fast Peddle Bikes offers a warranty that states that the gear-shifting mechanism for its product will work consistently and be free of mechanical defects for five years.This is an example of a(n)______ warranty.

Accepted Answer

Specific warranties offer explicit product performance promises related to components of the product. Automobile warranties are specific warranties covering various components of the product with different warranties. The warranty for tires is by the tire manufacturer while warranties for the power train (engine, drive system) are generally different from the rest of the automobile.

Question 8

Recently,Mercedes-Benz quietly reduced its warranty coverage by eliminating some free scheduled maintenance because the expense for the firm was too high.At the same time,Hyundai and others have expanded their warranties to build consumer confidence in their cars.They realize that extending the period of warranty coverage demonstrates they are making better cars in a very tangible way.These are examples of firms considering the ______ of the product warranty.

Accepted Answer

Recently, Mercedes-Benz has quietly reduced its warranty coverage by eliminating some free scheduled maintenance because the costs were too high. At the same time, Hyundai and others have expanded their warranties to build consumer confidence in their cars. They realize that extending the period of warranty coverage demonstrates they are making better cars in a very tangible way.

Question 9

Mercedes-Benz offers a lifetime roadside assistance warranty on all of its vehicles and shows that Mercedes is committed to customer service.This is an example of the ability of a warranty to ___________________.

Accepted Answer

Warranties convey a powerful message to the customer about perceived product quality and manufacturer commitment to customer satisfaction. Particularly with expensive products or purchase decisions in which the customer has anxiety, the warranty can play a significant role in the final product choice. As a result, companies focus a lot of time not only creating the warranty but also considering how best to communicate it to the customer.

Question 10

A customer is comparing two different cars advertised online.She isn't sure which will be of higher quality.Then she notices that one brand is a Lexus while the other is a brand she hasn't heard of before.In this case the Lexus brand provides _____ to the consumer.

Accepted Answer

The most basic form of brand equity is simply being aware of the brand. Awareness is the foundation of all other brand relationships. Brands convey a perception of quality with a positive perceived quality such as Lexus differentiating the product.

Quiz 8: Build the Brand

______ is defined as a summary of unique qualities attributed to the brand.

The American Marketing Association defines _____ as "a name,term,sign,symbol,or design,or a combination of them,intended to identify the goods or services of one seller or groups of sellers and to differentiate them from those of competitors."

Food product manufacturers are required to list the number of calories at the top of the nutrition panel.Posting calorie information is an example of a(n) _______.

David Aaker defines _____ as "a set of assets (and liabilities) linked to a brand's name and symbol that adds to (or subtracts from) the value provided by a product or service to a firm or that firm's customers."

Victorinox,maker of the Swiss Army knife,warrants its knives to be "free from defects in material and workmanship for the entire life of the knife." These is an example of a ________.

The manufacturer of Fast Peddle Bikes offers a warranty that states that the gear-shifting mechanism for its product will work consistently and be free of mechanical defects for five years.This is an example of a(n) ______ warranty.

Mercedes-Benz offers a lifetime roadside assistance warranty on all of its vehicles and shows that Mercedes is committed to customer service.This is an example of the ability of a warranty to ___________________.

A customer is comparing two different cars advertised online.She isn't sure which will be of higher quality.Then she notices that one brand is a Lexus while the other is a brand she hasn't heard of before.In this case the Lexus brand provides _____ to the consumer.