Question 1

Which of the following is a marketing advantage of strong brands?

Accepted Answer

A)  no vulnerability to marketing crises 
B)  more elastic consumer response to price increases 
C)  guaranteed profits 
D)  additional brand extension opportunities 
E)  more inelastic consumer response to price decreases 
A)  no vulnerability to marketing crises 
B)  more elastic consumer response to price increases 
C)  guaranteed profits 
D)  additional brand extension opportunities 
E)  more inelastic consumer response to price decreases D

Question 2

Provide an example of brand revitalization. Evaluate its success and note any factors that contributed to or possibly hurt its success.

Accepted Answer

Student responses will vary. Examples from the text include Burberry, GM/Cadillac, Harley Davidson, PBR, Mountain Dew. Brand revitalization of almost any kind starts with the product.

Question 3

According to the BrandZ model of brand strength, brand building involves a series of five sequential steps. What are those five sequential steps?

Accepted Answer

The steps are in ascending order:
1. presence
2. relevance
3. performance
4. advantage
5. bonding

Question 4

________, which combines the BrandAsset® Valuator dimensions of energized differentiation and relevance, is a leading indicator that predicts future growth and value.

Accepted Answer

A)  Brand stature 
B)  A brand's power grid 
C)  Brand presence 
D)  Brand bonding 
E)  Brand strength 
A)  Brand stature 
B)  A brand's power grid 
C)  Brand presence 
D)  Brand bonding 
E)  Brand strength

Question 5

A firm's branding strategy is also called the brand architecture.

Accepted Answer

A) True 
 B)False

Question 6

One of the advantages of having a strong brand is the ability to have a more elastic consumer response to price decreases of the brand.

Accepted Answer

A) True 
 B)False

Question 7

Even if sales of a brand extension are high and meet targets, the revenue may be coming from consumers switching to the extension from existing parent-brand offerings - in effect ________ the parent brand.

Accepted Answer

A)  diluting 
B)  cannibalizing 
C)  reinforcing 
D)  eroding 
E)  revamping 
A)  diluting 
B)  cannibalizing 
C)  reinforcing 
D)  eroding 
E)  revamping

Question 8

When a firm uses an established brand to introduce a new product, it is called a brand ________.

Accepted Answer

A)  harmonization 
B)  valuation 
C)  extension 
D)  positioning 
E)  parity 
A)  harmonization 
B)  valuation 
C)  extension 
D)  positioning 
E)  parity

Question 9

Define brand equity.

Accepted Answer

Brand equity is the added value endowed

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

Aromas Inc. introduced a new line of shower gels. To analyze consumer reaction, the company interviewed people who bought them. When Sarah was asked why she had chosen the new shower gel, she said she bought it because a friend recommended it. Sarah is at which level of the BrandDynamics Pyramid?

Accepted Answer

A)  presence 
B)  bonding 
C)  relevance 
D)  performance 
E)  advantage 
A)  presence 
B)  bonding 
C)  relevance 
D)  performance 
E)  advantage

Question 12

Under the BrandZ model of brand strength, customers who are bonded to the brand believe "nothing else beats it."

Accepted Answer

A) True 
 B)False

Question 13

Identify the three important principles for internal branding.

Accepted Answer

Three important principles for

Question 14

Identify and describe three things that affect customer lifetime value.

Accepted Answer

Customer lifetime value is affected by r

Question 15

What valuable functions can brands perform for a firm?

Accepted Answer

Brands perform a number of valuable func

Question 16

The ________ determines the marketing program's ability to affect the customer mindset and is a function of the quality of the program investment.

Accepted Answer

A)  customer multiplier 
B)  market multiplier 
C)  shareholder value 
D)  program multiplier 
E)  price elasticity 
A)  customer multiplier 
B)  market multiplier 
C)  shareholder value 
D)  program multiplier 
E)  price elasticity

Question 17

An important part of reinforcing brands is providing uniform and unchanging marketing support.

Accepted Answer

A) True 
 B)False

Question 18

Apple's iPod shuffle is an example of ________.

Accepted Answer

A)  a subbrand 
B)  a parent brand 
C)  family brand 
D)  a brand mix 
E)  an umbrella brand 
A)  a subbrand 
B)  a parent brand 
C)  family brand 
D)  a brand mix 
E)  an umbrella brand

Question 19

Competitive superiority and channel support are factors that influence the ________ multiplier of the brand value chain.

Accepted Answer

A)  program 
B)  customer 
C)  brand 
D)  profit 
E)  market 
A)  program 
B)  customer 
C)  brand 
D)  profit 
E)  market

Question 20

If a brand element can be used to introduce new products in the same or different categories, the brand element is said to be ________.

Accepted Answer

A)  memorable 
B)  meaningful 
C)  likeable 
D)  transferable 
E)  adaptable 
A)  memorable 
B)  meaningful 
C)  likeable 
D)  transferable 
E)  adaptable

Exam 11: Creating Brand Equity

Which of the following is a marketing advantage of strong brands?

Provide an example of brand revitalization. Evaluate its success and note any factors that contributed to or possibly hurt its success.

According to the BrandZ model of brand strength, brand building involves a series of five sequential steps. What are those five sequential steps?

________, which combines the BrandAsset® Valuator dimensions of energized differentiation and relevance, is a leading indicator that predicts future growth and value.

A firm's branding strategy is also called the brand architecture.

One of the advantages of having a strong brand is the ability to have a more elastic consumer response to price decreases of the brand.

Even if sales of a brand extension are high and meet targets, the revenue may be coming from consumers switching to the extension from existing parent-brand offerings - in effect ________ the parent brand.

When a firm uses an established brand to introduce a new product, it is called a brand ________.

Define brand equity.

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

Aromas Inc. introduced a new line of shower gels. To analyze consumer reaction, the company interviewed people who bought them. When Sarah was asked why she had chosen the new shower gel, she said she bought it because a friend recommended it. Sarah is at which level of the BrandDynamics Pyramid?

Under the BrandZ model of brand strength, customers who are bonded to the brand believe "nothing else beats it."

Identify the three important principles for internal branding.

Identify and describe three things that affect customer lifetime value.

What valuable functions can brands perform for a firm?

The ________ determines the marketing program's ability to affect the customer mindset and is a function of the quality of the program investment.

An important part of reinforcing brands is providing uniform and unchanging marketing support.

Apple's iPod shuffle is an example of ________.

Competitive superiority and channel support are factors that influence the ________ multiplier of the brand value chain.

If a brand element can be used to introduce new products in the same or different categories, the brand element is said to be ________.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Managing a Holistic Marketing Organization for the Long Run

Filters

________, which combines the BrandAsset^® Valuator dimensions of energized differentiation and relevance, is a leading indicator that predicts future growth and value.