Exam 9: Creating Brand Equity

Advertising agency Young and Rubicam (Y&R)developed a model of brand equity called Brand Asset Valuator (BAV). What is the intent of the BAV model? List and briefly characterize the four key components (pillars)of brand equity.

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

Branding is ________.

Christian Louboutin is a footwear designer who launched his line of high-end women's shoes in France in 1991. The brand caters to an elite clientele whose satisfaction with the brand has always been evident. Apart from being high-end, Louboutin footwear signifies power in elite social circles. Celebrities are often seen sporting "Loubs" at special occasions, such as movie premieres. This has resulted in people associating Louboutin footwear with class and power. In accordance with the brand asset valuator model, which of the following components of brand equity has Louboutin fulfilled in the given scenario?

There are a number of specific roles brands can play as part of a brand portfolio. List and briefly describe the four roles.

A ________ can be defined as any information-bearing experience a customer or prospect has with the brand, the product category, or the market that relates to the marketer's product or service.

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

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

Describe the three ingredients of customer-based brand equity.

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

A consumer who expresses rational and emotional attachments to the brand to the exclusion of most Other brands has reached the ________ level in the brand dynamics pyramid.

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?"

Nichepro Technologies, who were mainly into producing personal computers and laptops, have now decided to produce Nichepro health care products. Explain the branding strategy advocated by the company.

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

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

The creation of significant brand equity involves reaching the top or pinnacle of the brand pyramid. What are the six components of the brand resonance pyramid?

How can marketers reinforce brand equity?

Describe the function of brand tracking studies.

Explain the concept of brand knowledge.

The American Marketing Association defines a ________ as "a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors."