Question 1

Private label brands are also referred to as

Accepted Answer

Private label brands are also known as store brands, as they are created and exclusively sold by a particular retailer. They are developed to compete with national brands and offer customers a lower-priced alternative. Generic brands are a type of private label brand, but not all private label brands are generic. Licensed brands and co-brands are different strategies where a third-party supplier provides products that are sold under the retailer's name, but these types of brands are not the same as private label brands. Manufacturer brands are branded products owned and marketed by manufacturers.

Question 2

The makers of Breyers ice cream have come up with a new line called Breyers Blasts! This line of ice cream combines Breyers ice cream with well-know products such as Oreo cookies,Snickers candy bars,and Reese's peanut butter cups.This is an example of

Accepted Answer

Co-branding involves combining two or more well-known brands to create a new product, as seen with Breyers Blasts! which combines Breyers ice cream with other popular brands like Oreo, Snickers, and Reese's.

Question 3

A marketer is trying to uncover the true opinions of a group of consumers,but they are unwilling to express themselves,so instead he asks them to compare his brand to an automobile,a country and a person.What technique is the marketer using?

Accepted Answer

The marketer is using a projective technique known as "association technique." By asking the consumers to compare the brand to other objects (in this case, an automobile, a country, and a person), the marketer is hoping to uncover the consumers' true opinions and perceptions indirectly, since they may be unwilling to express themselves directly. This technique allows for more open-ended responses, as opposed to simply asking the consumers for their opinions outright (such as with aided recall or brand recall survey).

Question 4

In a brand recognition strategy,how can marketers tell if consumers are truly able to identify the brands they have seen and distinguish between those and brands that they have not been exposed to?

Accepted Answer

Using decoys that consumers could not possibly have seen helps marketers determine if consumers can truly identify the brands they have been exposed to, as it tests their ability to distinguish between familiar and unfamiliar brands.

Question 5

Which of the following is not true regarding a brand extension strategy?

Accepted Answer

A brand extension strategy is not the same as a product extension strategy. A brand extension strategy uses the equity of an existing brand to launch a new product in a different product category, while a product extension strategy involves adding new variants or flavors to an existing product line.

Question 6

Products developed by a retailer and sold only by that specific retailer are known as

Accepted Answer

Products developed by a retailer and sold only by that specific retailer are known as private label brands.

Question 7

The process of broadening the use of an organization's current brand to include new products is called

Accepted Answer

Brand extension is the process of using an existing brand name to launch a new or modified product or service in a different product category. It helps in leveraging the brand's reputation, customer loyalty, and recognition.

Question 8

When the makers of Snickers candy bars decided to make a line of ice cream treats,they came up with Snickers ice cream bars.This is an example of

Accepted Answer

Snickers ice cream bars are an example of a brand extension, which involves using an existing brand name to launch a new product in a different category. In this case, the Snickers candy bar brand name was used to launch a line of ice cream treats, creating a new product category for the brand without cannibalizing or revitalizing the existing candy bar line.

Question 9

Brand revitalization is also referred to as

Accepted Answer

Brand revitalization and rebranding are used interchangeably to refer to the process of giving an existing brand a fresh or updated look, feel, and message.

Question 10

Co-branding involves

Accepted Answer

Co-branding involves two or more companies issuing a single product, often combining their respective brands and marketing efforts to reach a wider audience or achieve a specific goal. In this approach, each company brings its unique strengths and customer base to the partnership, creating a more powerful and compelling product offering.

Question 11

Which quantitative technique for measuring brand equity helps marketers understand which brands stand out in a consumer's memory and what the strength of his or her association is with the brand?

Accepted Answer

The answer of Which quantitative technique for measuring brand equity...

Question 12

As a retailer,Target has developed its own line of products with the brand name up & up.These products are sold exclusively in Target stores and are an example of

Accepted Answer

up & up is a private label brand created by Target for their own stores and is sold exclusively in Target stores.

Question 13

Fenton has a food truck in which he sells mainly burgers and fries.He decided to expand his product line to begin serving grilled chicken sandwiches as well.Fenton is noticing that his existing customers now order the chicken over the burgers,and his sales have not increased,in fact,they have decreased slightly.This is most likely due to

Accepted Answer

Cannibalization occurs when a newer product offering takes sales away from an existing one. In this case, Fenton's introduction of grilled chicken sandwiches is taking away sales from his existing burgers. This is why his overall sales have not increased and have even decreased slightly.

Question 14

Cannibalization occurs when

Accepted Answer

Cannibalization occurs when a new product takes sales away from the firm's existing products rather than generating additional revenues. This can happen when the new product is too similar to the existing product or when the marketing strategy for the new product is not effective in attracting new customers. This can result in overall revenue loss for the firm, even if the new product is initially successful.

Question 15

According to your text,brand revitalization often begins with

Accepted Answer

Brand revitalization often begins with rebuilding trust with consumers, as they are the primary audience whose perception and loyalty need to be regained for the brand to succeed.

Question 16

The total amount a customer will spend from acquisition through the end of a relationship with a brand is referred to as

Accepted Answer

Customer lifetime value (CLV) is the total value a customer will bring to a brand over the course of their relationship. It takes into account the amount of money the customer will spend on purchases, as well as other factors such as retention and referrals. CLV is an important metric for businesses to track, as it can help them make decisions about marketing, customer service, and other areas of their operations.

Question 17

On the store shelf at Walgreens,there are two types of sunscreen.Coppertone Sport Spray,which is a _______ brand,and Walgreens Continuous Spray Sport,which is a _______ brand.

Accepted Answer

Coppertone is a well-known manufacturer brand, while Walgreens Continuous Spray Sport is a private-label brand, as it is branded by the retailer Walgreens itself.

Question 18

A strategy in which two or more companies issue a single product in an effort to capitalize on the equity of each company's brand is called

Accepted Answer

Co-branding is the strategy in which two or more companies collaborate to create a single product by combining each company's brand equity. It helps companies to expand their market reach, share costs, and increase brand awareness. Partner branding, dual branding, brand revitalization, and brand extension are not the correct terms to describe this strategy.

Question 19

What type of research involves asking consumers what comes to mind when they think about the brand?

Accepted Answer

Free association research involves asking consumers to express their immediate thoughts or feelings about a brand without any prompts or cues.

Question 20

The strategy to recapture lost sources of brand equity and identify and establish new sources of brand equity is referred to as

Accepted Answer

Brand revitalization refers to the strategy of recapturing lost sources of brand equity and identifying and establishing new sources of brand equity. It involves making changes to the brand's marketing mix and/or brand image to make it more relevant and appealing to consumers. Brand extension refers to the practice of extending a brand into new product or service categories. Brand recouping, brand marking, and cannibalization are not relevant to this concept.

Quiz 15: Branding