Deck 9: Creating Brand Equity

Question 1

________ is endowing products and services with the power of a brand.

A) Brand image
B) The branding concept
C) Branding
D) Brand positioning
E) Brand partitioning

Answer 1

C

Question 2

When a marketer expresses his or her vision of what the brand must be and do for consumers,they are expressing what is called ________.

A) a brand promise
B) a brand mission
C) brand equity
D) a brand position
E) a brand concept

Answer 2

A

Question 3

David Aaker views brand equity as a set of three categories of brand assets and liabilities linked to a brand that add or subtract from the value provided by a product or service.They include all of the following EXCEPT ________.

A) brand loyalty
B) brand awareness
C) brand associations
D) brand price
E) None of the above is among Aaker's three categories.

Answer 3

D

Question 4

________ is what drives the differences that manifest themselves in brand equity.

A) Brand image
B) Consumer income
C) Consumer purchasing power
D) Consumer knowledge
E) Brand perception

Question 5

According to Aaker,a particularly important concept for building brand equity is ________-the unique set of brand associations that represent what the brand stands for and promises to consumers.

A) brand knowledge
B) brand preference
C) brand identity
D) brand vision
E) brandable differences

Question 6

If consumers do not demonstrate different responses to different brands within a product category,then the products are essentially commodities or generic versions and competition will probably be based on ________.

A) emotional attachment
B) brand awareness
C) advertising expenditure
D) price
E) prestige

Question 7

When a consumer expresses thoughts,feelings,images,experiences,beliefs,and so on that become associated with the brand,the consumer is expressing brand ________.

A) knowledge
B) loyalty
C) behavior
D) preference
E) equity

Question 8

Three pillars that point to the brand's future value,rather than just reflecting its past,are differentiation,energy,and relevance.Differentiation,energy,and relevance combine to determine what is called brand ________.

A) position
B) image
C) depth
D) knowledge
E) strength

Question 9

The strategic brand management process involves four main steps.Which of the following would NOT be among those steps

A) Measuring consumer brand knowledge
B) Identifying and establishing brand positioning
C) Planning and implementing brand marketing
D) Measuring and interpreting brand performance
E) Growing and sustaining brand value

Question 10

Strong brands possess all of the following marketing advantages EXCEPT ________.

A) greater loyalty
B) larger margins
C) guaranteed profits
D) improved perceptions of product performance
E) more elastic consumer response to price decreases

Question 11

The premise of ________ models is that the power of a brand lies in what customers have seen,read,learned,thought,and felt about the brand over time.

A) product-based brand equity
B) service-based brand equity
C) functional-based brand equity
D) mission-driven brand equity
E) customer-based brand equity

Question 12

At the heart of a successful brand is ________,backed by creatively designed and executed marketing.

A) price
B) promotion
C) a great product or service
D) a great slogan
E) a brand concept

Question 13

Brand ________ is the added value endowed to products and services.

A) loyalty
B) equity
C) preference
D) satisfaction
E) benefits

Question 14

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

A) ensuring that customers have the right type of experiences with products and their marketing programs to create the desired brand knowledge
B) pricing the product at a point that maximizes sales volumes
C) minimizing the number of people to whom the product is targeted in order to provide consumers with a personalized experience
D) retain as many customers as possible in order to minimize the costs and pressure associated with continually generating new leads
E) maximizing customer value

Question 15

Consumers learn about brands through ________ and product marketing programs.

A) the mass media
B) past experiences with the product
C) the sales force
D) shopping bots
E) independent information sources

Question 16

________ can be defined as the differential effect that brand knowledge has on consumer response to the marketing of that brand.

A) Mission-driven brand equity
B) Customer-based brand equity
C) Product-driven brand equity
D) Service-driven brand equity
E) Function-based brand equity

Question 17

According to Young and Rubicam's brand asset valuator,a brand's ________ measures how well the brand is regarded and respected.

A) differentiation
B) energy
C) relevance
D) esteem
E) knowledge

Question 18

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."

A) holistic product concept
B) product concept
C) service concept
D) brand
E) brand image

Question 19

The earliest signs of branding in Europe were the medieval ________ requirement that craftspeople put trademarks on their products.

A) kings'
B) churches'
C) consumers'
D) governments'
E) guilds'

Question 20

There are five key components-or pillars-of brand equity.Which of those components or pillars measures the breadth of a brand's appeal

A) Differentiation
B) Relevance
C) Esteem
D) Knowledge
E) Value

Question 21

The traditional "marketing-mix" concept and the notion of the "four Ps" may not adequately describe modern marketing programs.________ is about mixing and matching marketing activities to maximize their individual and collective effects.

A) Personalizing marketing
B) Individualizing marketing
C) Globalizing marketing
D) Institutionalizing marketing
E) Integration marketing

Question 22

Mark Thomas has observed that Shell delivers on its promises to supply the best gasoline possible to the driving public.Shell promotions,employees,and distributors send a common and consistent message about delivering on Shell promises to Mr.Thomas.Mr.Thomas is most likely experiencing ________.

A) brand image
B) brand enhancement
C) brand belief
D) brand attitude
E) brand bonding

Question 23

Brand names are not the only important brand element.Often,________,the more important it is that brand elements capture the brand's intangible characteristics.

A) the less concrete brand benefits are
B) the more concrete brand benefits are
C) the more varied brand perceptions are
D) the less varied brand perceptions are
E) the more sophisticated brand benefits are

Question 24

With respect to the "six brand building blocks," ________ focus on customers' own personal opinions and evaluations.

A) brand salience
B) brand performance
C) brand imagery
D) brand judgments
E) brand resonance

Question 25

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) memorable
B) meaningful
C) likeable
D) transferable
E) adaptable

Question 26

A brand manager is concerned that his organization's brand image and physical sales are slipping in the marketplace.The manager has decided to query consumers about the health of the brand and try to discover ways to leverage the brand's equity.Which of the following terms will most likely provide the structure and process for the manager's investigation

A) A brand demographic matrix analysis
B) A secondary search of good brand characteristics
C) A brand audit
D) An organizational audit
E) A brand-positioning study

Question 27

The rapid expansion of ________ has created opportunities to personalize marketing.

A) target marketing
B) globalization
C) the Internet
D) standardization
E) CD technology

Question 28

With respect to powerful brand elements,a ________ is an extremely efficient means to build brand equity.The element can function as useful "hooks" or "handles" to help consumers grasp what the brand is and what makes it special.

A) spokesperson
B) product shape
C) slogan
D) patent
E) promotional descriptor

Question 29

According to the BRANDZ model of brand strength,brand building involves a sequential series of steps.Which of these steps would address or answer the question,"Do I know about it"

A) relevance
B) presence
C) performance
D) advantage
E) bonding

Question 30

________ is about making sure that the brand and its marketing are as relevant as possible to as many customers as possible.

A) Personalizing marketing
B) Segmenting marketing
C) Brand imagery
D) Emotionalizing brands
E) Rationalizing brands

Question 31

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

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

Question 32

From a marketing management perspective,there are three main sets of brand equity drivers.Which of these drivers was most applicable when McDonald's decided to use the "golden arches" and Ronald McDonald as symbols of their brand

A) The product and all accompanying marketing activities and supporting marketing programs
B) The service and all accompanying marketing activities and programs
C) The initial choices for the brand elements or identities making up the brand
D) Associations indirectly transferred to the brand by linking it to some other entity
E) The profitability associated with brand development

Question 33

For a brand to succeed,marketers must "walk the walk" and ensure that employees and marketing partners do the same.Marketers often must use ________ to motivate those groups to support the brand.

A) global branding
B) retro-branding
C) internal branding
D) external branding
E) dual branding

Question 34

________ are those trademarkable devices that serve to identify and differentiate the brand.

A) Brand elements
B) Brand value
C) Brand perception
D) Brand image
E) Brand tracks

Question 35

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.

A) brand value
B) brand element
C) brand trait
D) brand character
E) brand contact

Question 36

Six brand elements assist in brand building.Which of the following would NOT be among those preferred brand elements

A) Adaptable
B) Protectible
C) Memorable
D) Likable
E) Subliminal nature

Question 37

Which of the following is one of the main ways to measure brand equity

A) Statistical analysis of demographics
B) Secondary evaluation of governmental statistics
C) Directly assessing the actual impact of brand knowledge on consumer response to different aspects of marketing
D) Evaluating published statistics of competitors
E) Hiring independent evaluators

Question 38

Which of the following is NOT a main secondary source of brand knowledge

A) Other brands
B) People
C) Things
D) Local, state, and federal governments
E) Places

Question 39

All of the following are considered to be among the "six brand building blocks" EXCEPT ________.

A) brand salience
B) brand performance
C) brand imagery
D) brand feelings
E) brand pride

Question 40

Brand equity can be built by ________-linking the brand to other information in memory that conveys meaning to customers.

A) internal marketing
B) brand bonding
C) secondary associations
D) customer alignment
E) brand auditing

Question 41

A company's major enduring asset is ________.

A) its leadership
B) its brand
C) its culture
D) its shareholders
E) its workers

Question 42

A ________ is the set of all brands and brand lines a particular firm offers for sale to buyers in a particular category.

A) brand partition
B) brand position
C) brand portfolio
D) brand concept
E) brand image

Question 43

According to Ries and Trout,Cadbury suffered from the ________ when the company allowed its brand to become diluted by putting their name on such variants as mashed potatoes,powdered milk,and soups,as well as chocolates and candies.

A) "greed is good" trap
B) "pyramid principle"
C) "branding fallout" concept
D) "image syndrome"
E) "line-extension" trap

Question 44

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

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

Question 45

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

A) subbrand
B) brand value
C) brand extension
D) brand mix
E) brand posture

Question 46

Even if sales of a brand extension are high and meet targets,the revenue may be coming from consumers switching to the extension from existing parent-brand offerings-in effect ________ the parent brand.

A) diluting
B) cannibalizing
C) reinforcing
D) eroding
E) feeding back to

Question 47

A structured approach to assessing the sources and outcomes of brand equity and the manner in which marketing activities create brand value is called ________.

A) the brand value chain
B) the brand portfolio
C) the brand life cycle
D) brand partitioning
E) brand positioning

Question 48

________ brands are positioned with respect to competitors' brands so that more important (and more profitable)flagship brands can retain their desired positioning.

A) Flanker
B) Attacker
C) Defender
D) Blitzkrieg
E) Individual

Question 49

________ is the job of estimating the total financial value of the brand.

A) Brand tracking
B) Brand auditing
C) Brand equity
D) Brand valuation
E) Brand partitioning

Question 50

The first step in the brand valuation process is ________.

A) the brand strength assessment
B) quantification of the role of branding
C) calculation of the net present value of the earnings forecast
D) the division of markets in which the brand is sold into mutually exclusive customer segments
E) financial analysis of the company's earnings before interest and taxes

Question 51

The hallmark of an optimal brand portfolio is ________.

A) the ability of each brand to maximize equity in combination with all the other brands in it
B) the ability of each brand to maximize its individual equity in isolation
C) maximal brand overlap
D) the eventual reduction of brand differentiation to create a unified brand appearance
E) none of the above

Question 52

Marketers introduce multiple brands in a category for all of the following reasons EXCEPT ________.

A) to increase shelf presence and retailer dependence in the store
B) to attract consumers seeking variety who may otherwise have switched brands
C) to increase internal competition within the firm
D) to yield economies of scale in advertising, sales, and merchandising
E) to reduce manufacturing costs and complexity

Question 53

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.

A) brand equity
B) brand value chain
C) customer value
D) customer equity
E) brand extension

Question 54

A parent brand that is associated with multiple products through brand extensions can also be called a ________.

A) category brand
B) subbrand
C) extension brand
D) family brand
E) line brand

Question 55

The role of a ________ in the brand portfolio often may be to attract customers to the brand franchise.Trading up will often occur with this type of brand.

A) cash cow
B) flanker brand
C) fighting brand
D) high-end prestige brand
E) low-end entry-level brand

Question 56

Two advantages of ________ are that they can facilitate new-product acceptance and provide positive feedback to the parent brand and company.

A) product licensing
B) brand extensions
C) individual-names strategies
D) brand audits
E) brand dilutions

Question 57

A ________ consists of all products-original as well as line and category extensions-sold under a particular brand.

A) brand line
B) brand variant
C) brand mix
D) licensed product
E) subbrand

Question 58

According to Scott Bedbury's book,A New Brand World,all of the following are considered to be important principles for 21st-century branding EXCEPT ________.

A) consumers will tell you what your brand image should be
B) relying on brand awareness has become marketing fool's gold
C) you have to know it before you can grow it
D) great brands establish enduring customer relationships
E) all brands need good parents

Question 59

Competitive superiority and channel and other intermediary support are factors that influence the ________ of the brand value chain.

A) program multiplier
B) customer multiplier
C) brand multiplier
D) profit multiplier
E) market multiplier

Question 60

A major advantage of a(n)________ strategy is that the company does not tie its reputation to the product.

A) blanket family name
B) licensing
C) individual-names
D) category extension
E) brand revitalization

Question 61

Brand imagery is the consumers' emotional responses and reactions with respect to the brand.

Question 62

If a brand element has the characteristic of being memorable,the brand is credible and suggestive of its corresponding category.

Question 63

According to Young and Rubicam's brand asset valuator,the energy component of brand equity measures the brand's sense of momentum.

Question 64

Gillette sent 1,000 young males a new,innovative razor product.In return,the company asked the young males to supply their e-mail addresses so future contacts could be initiated.This would be an example of what is called permission marketing.

Question 65

In the brand resonance pyramid,the lowest level is associated with what is called salience.

Question 66

Physical goods,services,and stores can be branded,but ideas and people cannot.

Question 67

Personalizing marketing is based on the fact that all customers are identical in several ways.

Question 68

The quantity of a marketer's investment in brand building is the critical factor in building brand equity,not necessarily the quality.

Question 69

Brand resonance is associated with how a brand name sounds when said by spokespersons or consumers.

Question 70

Because consumers have not fundamentally changed in recent years,neither have the strategies and tactics behind marketing programs.

Question 71

Consumers may evaluate identical products differently depending on how they are branded.

Question 72

One of the selection criteria for creating a successful brand element is that it should be protectible.

Question 73

One of the advantages of having a strong brand is the ability to have a more elastic consumer response to price decreases of the brand.

Question 74

A few good illustrations of power brand elements are Nike's "swoosh" logo,the empowering "Just Do It" slogan,and the mythological "Nike" name based on the winged goddess of victory.

Question 75

Brand knowledge is indicated when the consumer refuses to purchase competitive brands.

Question 76

Internal branding is the perceptions and beliefs held by consumers,as reflected in the associations held in consumer memory.

Question 77

Marketers must now "walk the walk" to deliver the brand promise.Often internal branding is necessary to make sure that all employees assist in meeting the brand promise.

Question 78

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

Question 79

There are five key components-or pillars-of brand equity; one of these components is called knowledge.

Question 80

Brand salience relates to how often and easily the brand is evoked under various purchase or consumption situations.