Deck 9: Building and Managing Brand Equity

Question 1

Firms dependent on brand association position based on certain attributes are vulnerable to competitor innovation and shouting matches that lead to lost credibility.

Answer 1

True

Question 2

A strategic imperative is an investment in an asset or program that is essential if the promise to the customers is to be delivered.

Answer 2

True

Question 3

The extremes on the relevance spectrum are ____________ and ____________. The middle of the spectrum belongs to ____________.

Answer 3

Trend neglectors and trend drivers; trend followers.

Question 4

Brand awareness serves to differentiate brands along a recall/familiarity dimension.

Question 5

Brand identity serves to drive and guide strategic initiatives throughout organizations, drive the communication program and support the expression of the organization's values and culture.

Question 6

The three steps of creating a brand identity are _____________, _____________, and _____________.

Question 7

Brand association is anything directly related to the consumer's memory to a brand.

Question 8

Datsun name was just as strong as the Nissan name four years after the name change primarily because brand awareness is an asset that can be extremely durable and thus sustainable.

Question 9

Maintaining relevance is the battle to stay associated with the product category in which the customer is interested.

Question 10

Organizations can increase their likelihood of brand awareness by extending their presence outside the conventional media channels and using methods such as promotions, publicity and sampling.

Question 11

manage customer loyalty, organizations will measure loyalty of existing customers, manage customer touch points, conduct exit interviews, maintain communication with customers, have a customer culture, measure the lifetime value of a customer, _______________ and _______________.

Question 12

Brand awareness does not provide competitive advantages, only key success factors.

Question 13

Proof points are programs, initiatives, and assets that are planned to provide substance to the strategic position.

Question 14

ultimate measure of brand loyalty is that customers will recommend the brand to others.

Question 15

three types of brand assets are brand awareness, brand equity and brand loyalty.

Question 16

The strongest brands often offer emotional benefits. They are about the "I feel" statement. Other strong brand benefit offerings are a self-expressive benefits, which are all about the "I am."

Question 17

Brand identity is a set of current brand associations that the firm aspires to create or maintain.

Question 18

Virgin has extended its brand into dozens of business areas including cola and jeans.

Question 19

Which of the following is not a competitive advantage included in brand loyalty:

A) Reducing marketing costs
B) Entry to barrier
C) Increased name recall at time of purchase
D) Satisfied customer base projects successful product
E) Provides time to respond to competitive moves