MKT 300 EXAM 3 ASU STUDY GUIDE
What is the connecting point for customers? - Answers -Brand
Brands - Answers -- Are the touch points to consumers
- Promise to deliver specific benefits with products of services to consumers (almost
anything can be branded)
Brand - Answers -a name, term, symbol, design, or combination thereof that identifies a
seller's products and differentiates them from competitors' products
Roles of Branding - Answers -higher perceived quality, price premium, greater market
share, financial strength, brand extensions
Attributes of Strong Brands - Answers -1 Consistent Brand Message
2 Focus on Long-term growth
3 Manage customer experience
4 Meaningful, memorable, likeable
Brand Equity - Answers -value of a brand based on loyalty, awareness, perceived
product quality, and brand associations
- reflective of long-term trust built by brand in consumers' mind
- indicative of "strength" of brand and brand "fit" with consumers
Things that improve Brand Equity - Answers -- brand name awareness
- brand loyalty
- perceived brand quality
- brand associations
- brand knowledge
master brand - Answers -A brand that is so dominant that customers think of it
immediately when a product category is mentioned
master brand benefits for the consumer - Answers --search cost reducer
-signal of quality
-risk reducer
-symbolic device
master brand benefits for the company - Answers --source of competitive advantage
-predictability and security of demand
-barriers to entry
-financial returns
Marketing and Branding - Answers -- Marketing creates intangible value
- If marketing value / tangible asset > 1 then we've created Intangible Value
, - We measure intangible value through Brand equity
Coke Example - Answers -Taking the stock price of Coke, multiplying that by the
shares of Coke and dividing that by Coke's tangible assets = 5
Aaker's five levels of customer attitude toward a brand - Answers -1. devoted to brand
2. values the brand
3. satisfied & switching cost
4. satisfied customer
5. no brand loyalty
Brand Asset Valuator (BAV) - Answers -differentiation, relevance, esteem, knowledge
Interbrand's Brand Equity Formula - Answers -brand earnings and brand strength
building strong brands - Answers -provide identity, project the right message, saves
time
- as you move up the ladder from attributes to benefits to values you will gain:
1. higher emotional connection with consumers
2. increasingly difficult for competitors to copy positioning
brand image - Answers -salient and feeling-related associations
brand personality - Answers -specific "personality-type" traits or characteristics
ascribed by consumers to different brands
- masculine/feminine
- calm/exciting
brand personality framework - Answers -sincerity, excitement, competence,
sophistication, ruggedness
brand archetypes - Answers -Carl Jung suggested that humans are not a "blank slate"
but rather a combination of archetypes; "universal, archaic patterns and images that
derive from the collective unconscious and are the psychic counterpart of instinct"
Brand/Individual Brand - Answers -Tide (made by proctor & gamble but that doesn't
matter)
Brand/Family Brand - Answers -Samsung (could be any kind, cell phone, tv, washing
machine)
Brand/Combination Brand - Answers -Kelloggs Rice Krispes (know company name &
brand)
No Brand/Individual Brand - Answers -Ol Roy's (dog food/cat food)
What is the connecting point for customers? - Answers -Brand
Brands - Answers -- Are the touch points to consumers
- Promise to deliver specific benefits with products of services to consumers (almost
anything can be branded)
Brand - Answers -a name, term, symbol, design, or combination thereof that identifies a
seller's products and differentiates them from competitors' products
Roles of Branding - Answers -higher perceived quality, price premium, greater market
share, financial strength, brand extensions
Attributes of Strong Brands - Answers -1 Consistent Brand Message
2 Focus on Long-term growth
3 Manage customer experience
4 Meaningful, memorable, likeable
Brand Equity - Answers -value of a brand based on loyalty, awareness, perceived
product quality, and brand associations
- reflective of long-term trust built by brand in consumers' mind
- indicative of "strength" of brand and brand "fit" with consumers
Things that improve Brand Equity - Answers -- brand name awareness
- brand loyalty
- perceived brand quality
- brand associations
- brand knowledge
master brand - Answers -A brand that is so dominant that customers think of it
immediately when a product category is mentioned
master brand benefits for the consumer - Answers --search cost reducer
-signal of quality
-risk reducer
-symbolic device
master brand benefits for the company - Answers --source of competitive advantage
-predictability and security of demand
-barriers to entry
-financial returns
Marketing and Branding - Answers -- Marketing creates intangible value
- If marketing value / tangible asset > 1 then we've created Intangible Value
, - We measure intangible value through Brand equity
Coke Example - Answers -Taking the stock price of Coke, multiplying that by the
shares of Coke and dividing that by Coke's tangible assets = 5
Aaker's five levels of customer attitude toward a brand - Answers -1. devoted to brand
2. values the brand
3. satisfied & switching cost
4. satisfied customer
5. no brand loyalty
Brand Asset Valuator (BAV) - Answers -differentiation, relevance, esteem, knowledge
Interbrand's Brand Equity Formula - Answers -brand earnings and brand strength
building strong brands - Answers -provide identity, project the right message, saves
time
- as you move up the ladder from attributes to benefits to values you will gain:
1. higher emotional connection with consumers
2. increasingly difficult for competitors to copy positioning
brand image - Answers -salient and feeling-related associations
brand personality - Answers -specific "personality-type" traits or characteristics
ascribed by consumers to different brands
- masculine/feminine
- calm/exciting
brand personality framework - Answers -sincerity, excitement, competence,
sophistication, ruggedness
brand archetypes - Answers -Carl Jung suggested that humans are not a "blank slate"
but rather a combination of archetypes; "universal, archaic patterns and images that
derive from the collective unconscious and are the psychic counterpart of instinct"
Brand/Individual Brand - Answers -Tide (made by proctor & gamble but that doesn't
matter)
Brand/Family Brand - Answers -Samsung (could be any kind, cell phone, tv, washing
machine)
Brand/Combination Brand - Answers -Kelloggs Rice Krispes (know company name &
brand)
No Brand/Individual Brand - Answers -Ol Roy's (dog food/cat food)
