Exam 9: Creating Brand Equity

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

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

Define brand variants.

How does consumer knowledge play a role in the success of new products associated with existing brands?

Apple's iPod Shuffle is an example of ________.

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

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

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?"

A ________ is a specialized group of consumers and employees whose identification and activities focus around the brand.

Both brand equity and customer equity emphasize the importance of customer loyalty and the notion that we create value by having as many customers as possible pay as high a price as possible.

What valuable functions can brands perform for a firm?

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 or answer the question "Does this brand offer something better than the others?"

With respect to the "six brand building blocks," ________ describes the extrinsic properties of the product or service, including the ways in which the brand attempts to meet customers' psychological or social needs.

Brand salience ________.

Brand extensions can reduce the costs of introductory launch campaigns and make it easier to convince retailers to stock and promote a new product.

Red Bull enlisted polytechnic students as "Red Bull student brand managers" to distribute samples, research drinking trends, design on-campus product promotion activities, and write stories for student newspapers. From a marketing management perspective, which of the following brand equity drivers is most applicable in the given scenario?

With respect to the "six brand building blocks," ________ signifies how well the product or service meets customers' functional needs.

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.

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 or answer the question "Does this brand offer me something?"

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