Exam 11: Developing and Managing Brand and Product Strategies

A strong brand identity can contribute to the consumers' perceptions of product quality.

The Brand Asset Valuator defines four dimensions of a brand personality that include product differentiation, relevance, esteem, and knowledge.

If Sunbeam were to develop a new coffee machine and brand it "The Coffee Maker," why would the company NOT be able to register the term as its trademark?

Brand names should contain words or phrases in general use, so that it is easier for the consumers to pronounce, recognize, and remember the brand names.

Match each item to the statement or sentence listed below. a.brand b.brand preference c.brand insistence d.generic product e.family brand f.brand equity g.category management h.trademark i.brand extension j.consumer innovator k.diffusion process l.captive brands m.trade dress n.product liability o.brand name p.private brand q.brand manager r.cannibalization s.product liability t.brand mark u.label -are sold exclusively by a particular retail chain.

Discuss the steps in the new product development process.

Why can product positioning be important to a new product development strategy?

About half of all new products developed turn out to be marketplace successes.

In keeping with its corporate strategy of "building a global luxury accessories business," Ralph Lauren introduced a new line of footwear. In business terms, how would the actions of Ralph Lauren be described?

Line extensions are the addition of new sizes, styles, flavours, or related products to an existing group of products.

Manufacturers' brands are also called national brands.

Brand extensions are essentially the same as line extensions.

Brand equity is defined as the amount of capital a firm has invested in a product. This amount may include advertising and promotional expenses, plus the pro-rated cost of the sales force needed to sell the product.

Which of the following is an example of a market penetration strategy for new product development?

The highest level of brand loyalty is brand preference.

Private labels typically provide better profit margins than captive brands.

When a company authorizes another organization to use its brand name, the company is practicing brand diversification.

What is product cannibalization?

What are family, individual, manufacturers', captive, and private brands? What are some benefits of each alternative?

Trade dress refers to elements of branding, such as the visual cues used to create an overall look for the product.