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".

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

Which of the following value creation processes means detailing the brand relationship journey in a Narrative way, often anchored by and peppered with milestones?

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

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 brand dynamics pyramid?

Brand salience describes the extrinsic properties of the product or service, including the ways in which the brand attempts to meet customers' psychological or social needs.

According to brand asset valuator (BAV)model, knowledge is one of the key components of brand equity.

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.

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

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

According to the BRANDZ model of brand strength, brand building involves people progressing through a sequential series of steps. Which of these steps convey the message " Nothing else beats this brand"?

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

With respect to the brand building pyramid, at which of the following "building block levels" would we expect the consumer to develop positive and accessible reactions?

Kellogg's uses its corporate brand name with its individual product brands as with Kellogg's rice krispies, Kellogg's raisin bran, and Kellogg's corn flakes. Which branding strategy is being used by the company?

Define brand equity.

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 ________.

Spending on product research, development, and design constitutes investment in the brand value development process.

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.

Tide laundry detergent maintains the same market share it had 50 years ago because of the sales contributions from its various line extensions. It can be said that Tide employs a preemptive cannibalization strategy in generating line extensions. What does this mean?

In its focus on bottom-line financial value, the ________ approach often overlooks the "option value" of brands and their potential to affect future revenues and costs.