CSFRST 2300 Exam Study Guide Questions with Correct Answers

CSFRST 2300 Exam Study Guide Questions with Correct Answers Equity - Answer-a brands market value is a function of the brands equity that it accumulates:the greater the equity the more valuable the brand. recognizing that a brand delivers something more than a generic product does, equity can be regarded as extra "something" attached to a brand that adds value over and above the objective characteristics of a product. brand manager - Answer-is responsible for analyzing how our brand is positioned in the market and provide the vision, mission, goals and improvement strategies private label - Answer-brands owned by a retailer and not the manufacturer. or products that exclsuively owned by a retailer and only available at that retailer Relevance - Answer-confirms that what the brand is promising as a value makes sense to the consumer and that is a proposal convincing enough to make them purchase the brand, selecting it over its competitors Positioning - Answer-how the company proposes the brand should be perceived in reference to its competitors or how it emphasizes the brands distinctive advantages so that it stands out in the market to different from specific competitors.