MKT 300 EXAM 3 EATON QUESTIONS & ANSWERS
The connecting point for customers? - Answers -The brand
Brand - Answers -a name, term, symbol, design, or 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
Role of Brands - Answers -They stand for something; promise to deliver specific
benefits associated with products or services to consumers; represent solutions
Your brand isn't what you say it is... - Answers -it's what they (consumers) say it is
Branding - Answers -Core benefit: what the customer is buying
Value proposition: what the brand delivers that customers value; competitively superior
Attributes of Strong Brands - Answers -A strong brand occupies a distinct position in
consumers minds based on a relevant benefits and creates an emotional connection
between business and consumers
consistent brand message, focus on long-term growth, manage customer experience,
and meaning, memorable, and likeable
Miami, FL is a huge - Answers -brand name
Brand equity - Answers -the marketing and financial value associated with a brand's
strength; based on loyalty, awareness, perceived product quality, and brand
associations; reflective of long-term trust; "strength" of brand and brand "fit"; can be so
strong that brand name becomes the category name (master brand)
Benefits to Consumers - Answers -search cost reducer, signal of quality, risk reducer,
symbolic device
Benefits to Companies - Answers -source of competitive advantage, predictability and
security of demand, barriers to entry, financial returns
Marketing creates, communicates, and ______ the product - Answers -delivers
Marketing creates _______ value - Answers -intangible
Intangible value - Answers -value you can't hold in your hand; value a film has above
and beyond tangible assets; market value is greater than the tangible assets
, Brands are intangible, but they have ________ impact on consumer product experience
- Answers -tangible
Aaker Model (5 levels of customer attitude toward a brand) - Answers -1. Devoted to
Brand
2. Values the brand (brand as friend)
3. Satisfied and Switching Cost
4. Satisfied Customer (no reason to change)
5. No Brand Loyalty (customer will change)
Brand Equity Model: Brand Asset Valuator (BAV) - Answers -Brand Equity is made up
of differentiation, relevance, esteem, and knowledge
multiple these four things together to get brand equity
if one of the four categories is 0, then there's no brand equity
Brand Equity Models: Interbrand's Equity Formula - Answers -Brand earnings are
objective (brand sales, cost of sales, marketing costs)
Brand strength is subjective (leadership, stability, market, geographic spread)
The name "Apple" is intangible yet worth - Answers -$214M
Building strong brands start with - Answers -positioning
Building strong brand image - Answers -provide identity, project the right message,
saves time
Building strong brand image triangle - Answers -1. Values 2. Benefits 3. Attributes
-higher emotional connection with consumers as you climb upwards
-increasing difficult for competitors to copy positioning when climbing upwards
Brand Image - Answers -salient and feeling-related associations
-image we have of a product and the brand
-salient: important associations
Brand personality - Answers -specific "personality-type" traits or characteristics
ascribed by consumers to different brands
-masculine/feminine
-calm/exciting
Brand Achetypes - Answers -Carl Jung suggests that humans are not a "blank state"
but rather a combination of archetypes
-universal, archaic patterns and images that derive from the collective unconscious and
are the psych counterpart of instinct
The connecting point for customers? - Answers -The brand
Brand - Answers -a name, term, symbol, design, or 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
Role of Brands - Answers -They stand for something; promise to deliver specific
benefits associated with products or services to consumers; represent solutions
Your brand isn't what you say it is... - Answers -it's what they (consumers) say it is
Branding - Answers -Core benefit: what the customer is buying
Value proposition: what the brand delivers that customers value; competitively superior
Attributes of Strong Brands - Answers -A strong brand occupies a distinct position in
consumers minds based on a relevant benefits and creates an emotional connection
between business and consumers
consistent brand message, focus on long-term growth, manage customer experience,
and meaning, memorable, and likeable
Miami, FL is a huge - Answers -brand name
Brand equity - Answers -the marketing and financial value associated with a brand's
strength; based on loyalty, awareness, perceived product quality, and brand
associations; reflective of long-term trust; "strength" of brand and brand "fit"; can be so
strong that brand name becomes the category name (master brand)
Benefits to Consumers - Answers -search cost reducer, signal of quality, risk reducer,
symbolic device
Benefits to Companies - Answers -source of competitive advantage, predictability and
security of demand, barriers to entry, financial returns
Marketing creates, communicates, and ______ the product - Answers -delivers
Marketing creates _______ value - Answers -intangible
Intangible value - Answers -value you can't hold in your hand; value a film has above
and beyond tangible assets; market value is greater than the tangible assets
, Brands are intangible, but they have ________ impact on consumer product experience
- Answers -tangible
Aaker Model (5 levels of customer attitude toward a brand) - Answers -1. Devoted to
Brand
2. Values the brand (brand as friend)
3. Satisfied and Switching Cost
4. Satisfied Customer (no reason to change)
5. No Brand Loyalty (customer will change)
Brand Equity Model: Brand Asset Valuator (BAV) - Answers -Brand Equity is made up
of differentiation, relevance, esteem, and knowledge
multiple these four things together to get brand equity
if one of the four categories is 0, then there's no brand equity
Brand Equity Models: Interbrand's Equity Formula - Answers -Brand earnings are
objective (brand sales, cost of sales, marketing costs)
Brand strength is subjective (leadership, stability, market, geographic spread)
The name "Apple" is intangible yet worth - Answers -$214M
Building strong brands start with - Answers -positioning
Building strong brand image - Answers -provide identity, project the right message,
saves time
Building strong brand image triangle - Answers -1. Values 2. Benefits 3. Attributes
-higher emotional connection with consumers as you climb upwards
-increasing difficult for competitors to copy positioning when climbing upwards
Brand Image - Answers -salient and feeling-related associations
-image we have of a product and the brand
-salient: important associations
Brand personality - Answers -specific "personality-type" traits or characteristics
ascribed by consumers to different brands
-masculine/feminine
-calm/exciting
Brand Achetypes - Answers -Carl Jung suggests that humans are not a "blank state"
but rather a combination of archetypes
-universal, archaic patterns and images that derive from the collective unconscious and
are the psych counterpart of instinct
