Exam 11: Creating Brand Equity

Brand ________ is the added value endowed to products and services.

Brand equity can be built by linking the brand to sources, such as channels of distribution as well as to other brands.

Given that the power of a brand resides in the minds of consumers and how it changes their response to marketing, there are two basic approaches to measuring brand equity. Briefly, describe each of these approaches.

A ________ is a set of all brand lines that a particular seller makes.

Brand imagery is a consumer's emotional response and reaction with respect to the brand.

A brand that is seen as prototypical of a product category is easy to extend outside the category.

________ are a means of understanding where, how much, and in what ways brand value is being created to facilitate day-to-day decision making.

Describe the meaning and function of a brand audit.

The brand audit can be used to set strategic direction for the brand.

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

The decision as to how to brand new products is critical. When a firm introduces a new product, it has three main choices. What are those choices?

A parent brand that is associated with multiple products through brand extensions is also called a(n)________.

One of the selection criteria for creating a successful brand element is that it should be protectable.

A ________ consists of all products - original as well as line and category extensions - sold under a particular brand.

According to the BRANDZ model of brand strength, brand building involves people progressing through a sequential series of steps. Which of these steps would address the question "Do I know about this brand?"

Research indicates that high-quality brands stretch farther than average-quality brands, although both types of brands have boundaries.

A brand promise will not be delivered unless everyone in a company lives the brand.

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 ________.

According to the BrandAsset^® Valuator model, which of the components of brand equity measures how aware and familiar consumers are with the brand?

Physical goods, services, and stores can be branded, but ideas and people cannot.