Question 1

Identify the four pillars of brand equity, according to BrandAsset® Valuator model.

Accepted Answer

A)  relevance, performance, bonding, and advantage 
B)  presence, performance, advantage, and bonding 
C)  energized differentiation, relevance, esteem, and knowledge 
D)  brand salience, brand feelings, brand imagery, and brand performance 
E)  energized differentiation, esteem, brand feelings, and brand salience 
A)  relevance, performance, bonding, and advantage 
B)  presence, performance, advantage, and bonding 
C)  energized differentiation, relevance, esteem, and knowledge 
D)  brand salience, brand feelings, brand imagery, and brand performance 
E)  energized differentiation, esteem, brand feelings, and brand salience

Question 2

With respect to the brand building pyramid, at which of the following "building block levels" would we expect the consumer to develop an intense, active loyalty?

Accepted Answer

A)  salience 
B)  imagery 
C)  feelings 
D)  judgments 
E)  resonance 
A)  salience 
B)  imagery 
C)  feelings 
D)  judgments 
E)  resonance

Question 3

The role of a relatively high-priced brand in a portfolio is often to attract customers to the brand franchise or to "build traffic."

Accepted Answer

A) True 
 B)False

Question 4

The challenge for marketers in building a strong brand is ________.

Accepted Answer

A)  ensuring that customers have the right type of experiences with their products and marketing programs to create the desired brand knowledge 
B)  pricing the product at a point that maximizes sales volume 
C)  minimizing the number of people to whom the product is targeted in order to provide consumers with a personalized experience 
D)  minimizing the impact of customer brand equity 
E)  avoiding the usage of an established brand to introduce a new product in the market 
A)  ensuring that customers have the right type of experiences with their products and marketing programs to create the desired brand knowledge 
B)  pricing the product at a point that maximizes sales volume 
C)  minimizing the number of people to whom the product is targeted in order to provide consumers with a personalized experience 
D)  minimizing the impact of customer brand equity 
E)  avoiding the usage of an established brand to introduce a new product in the market

Question 5

Identify and describe the four value stages of the brand value chain.

Accepted Answer

The brand value creation process begins

Question 6

Brand equity is essentially the same as brand valuation.

Accepted Answer

A) True 
 B)False

Question 7

Flankers are brands that may be kept around despite dwindling sales because they manage to maintain their profitability with virtually no marketing support.

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

What is a licensed product? Why have corporations seized on licensing?

Accepted Answer

A licensed product is one whose brand na

Question 11

According to BrandAsset® Valuator (BAV) model, knowledge is one of the key components of brand equity.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A)  Internal marketing campaigns 
B)  Brand portfolio audits 
C)  Brand value chains 
D)  Sales cycles 
E)  Brand-tracking studies 
A)  Internal marketing campaigns 
B)  Brand portfolio audits 
C)  Brand value chains 
D)  Sales cycles 
E)  Brand-tracking studies

Question 13

Brand equity has four components - energized differentiation, relevance, esteem, and knowledge. How are these components combined to produce brand strength and brand stature?

Accepted Answer

Energized differentiation and

Question 14

When Honda expanded its brand into such areas as automobiles, snow blowers, and marine engines, it was pursuing a strategy called line extension.

Accepted Answer

A) True 
 B)False

Question 15

Starbucks introduced ice creams in the same flavors as the Frappuccinos it sold in its coffee shops. This is an example of ________.

Accepted Answer

A)  brand dilution 
B)  co-branding 
C)  brand variants 
D)  category extension 
E)  brand harmonization 
A)  brand dilution 
B)  co-branding 
C)  brand variants 
D)  category extension 
E)  brand harmonization

Question 16

Adam wants to buy a washing machine and is looking for something that is not too expensive. When he goes to make the purchase, he finds there are two options that meet his requirements. One is a Maytag product, while the other is a newly imported South Korean brand. Adam is not very familiar with the latter and does not hesitate in choosing Maytag. This example implies that ________.

Accepted Answer

A)  the imported brand will not survive the competition from Maytag 
B)  Maytag has a positive customer brand equity 
C)  the South Korean company has a low advertising budget 
D)  the imported brand is unreliable 
E)  the Maytag washing machine has better features than the imported brand 
A)  the imported brand will not survive the competition from Maytag 
B)  Maytag has a positive customer brand equity 
C)  the South Korean company has a low advertising budget 
D)  the imported brand is unreliable 
E)  the Maytag washing machine has better features than the imported brand

Question 17

If a brand element has the characteristic of being memorable, the brand is credible and suggestive of the type of person who might use the brand.

Accepted Answer

A) True 
 B)False

Question 18

The introduction of Diet Coke by the Coca-Cola Company is an example of ________.

Accepted Answer

A)  line extension 
B)  brand harmonization 
C)  category extension 
D)  brand dilution 
E)  co-branding 
A)  line extension 
B)  brand harmonization 
C)  category extension 
D)  brand dilution 
E)  co-branding

Question 19

Assume you are a marketing manager and want to adopt strategic brand management. List the four main steps that you would most likely go through to accomplish this task.

Accepted Answer

The steps would be:
1. identifying and e

Question 20

Describe the meaning and function of a brand audit.

Accepted Answer

To better understand the sources of bran

Exam 11: Creating Brand Equity

Identify the four pillars of brand equity, according to BrandAsset® Valuator model.

With respect to the brand building pyramid, at which of the following "building block levels" would we expect the consumer to develop an intense, active loyalty?

The role of a relatively high-priced brand in a portfolio is often to attract customers to the brand franchise or to "build traffic."

The challenge for marketers in building a strong brand is ________.

Identify and describe the four value stages of the brand value chain.

Brand equity is essentially the same as brand valuation.

Flankers are brands that may be kept around despite dwindling sales because they manage to maintain their profitability with virtually no marketing support.

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

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

What is a licensed product? Why have corporations seized on licensing?

According to BrandAsset® Valuator (BAV) model, knowledge is one of the key components of brand equity.

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

Brand equity has four components - energized differentiation, relevance, esteem, and knowledge. How are these components combined to produce brand strength and brand stature?

When Honda expanded its brand into such areas as automobiles, snow blowers, and marine engines, it was pursuing a strategy called line extension.

Starbucks introduced ice creams in the same flavors as the Frappuccinos it sold in its coffee shops. This is an example of ________.

If a brand element has the characteristic of being memorable, the brand is credible and suggestive of the type of person who might use the brand.

The introduction of Diet Coke by the Coca-Cola Company is an example of ________.

Assume you are a marketing manager and want to adopt strategic brand management. List the four main steps that you would most likely go through to accomplish this task.

Describe the meaning and function of a brand audit.

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

Identify the four pillars of brand equity, according to BrandAsset^® Valuator model.

According to BrandAsset^® Valuator (BAV) model, knowledge is one of the key components of brand equity.