BADM FULL QUESTIONS AND CORRECT
ANSWERS VERIFIED CERTIFICATION
STUDY PACK
●● Functions of Brands - For Consumers:
Answer: -Identification
-Form Expectations
-Simplify Decisions
-Project self-image
-Provide meanings
●● Functions of Brands - For Society:
Answer: -Concreteness to intangible cultural meanings
-Facilitate collective conversations
●● Brand Functions for Consumers: Brand Function is Functional
Answer: Consumer needs:
Basic needs for food, clothing, shelter, safety, or transportation
●● Brand Functions for Consumers: Brand Function is Identity Building
& Relational
Answer: Consumer needs:
,Need for coordinated social interaction, and concern for the welfare of
others
●● Brand Functions for Consumers: Brand Function is Symbolic
Answer: Consumer needs:
Need to signal uniqueness, status, and ability to control events
●● Brand functions for Consumers: Glasses Example
Answer: -functional: vision, nose grips, blue light lenses, light weight
-identity building/relational: academic identity, tortoise shell glasses like
others have
-symbolic: no intention to signal status, desire some uniqueness, need
glasses to complement face
●● What are the 4 challenges faced by brands?
Answer: 1. Consumers
2. Competitors
3.Collaborators
4. Context
●● Challenges Faced by Brands: Consumers
Answer: -thriftier
-more Selective In Relating to Brands
,-more Willing To Engage
-growing Multi-Culturalism
●● Challenges Faced by Brands: Competitors
Answer: -Growing Number
-From Different Places
-Crowded Marketplace
-Difficult to Differentiate
●● Challenges Faced by Brands: Collaborators
Answer: -Channel Consolidation
-Emergence of Powerful Mega-retailers
-Competing with Private Brands
●● Challenges Faced by Brands: Context
Answer: -New Technologies
-Growing Interconnectivity
-Reinvention of Business Models
-Short-term Focus
●● Brand Management
, Answer: involves a variety of tasks & decisions related to developing &
managing brands
●● Strategic Brand Management
Answer: -the process by which firms cope w/ these challenges in order
to build a long-term strategic advantage for their brands
-focused on long term development & management of the brand as a key
asset
--> commanding a price premium over competitors
--> platform for expanding the brand in new directions
--> build earnings & increase stock valuation
●● Which of the following is a challenge faced by brands in the 21st
century?
a. Growing Multi-culturalism
b. Channel consolidation
c. Competition from every corner of the world
d. Growing interconnectivity
e. All of the above
Answer: e. All of the above
●● brand
ANSWERS VERIFIED CERTIFICATION
STUDY PACK
●● Functions of Brands - For Consumers:
Answer: -Identification
-Form Expectations
-Simplify Decisions
-Project self-image
-Provide meanings
●● Functions of Brands - For Society:
Answer: -Concreteness to intangible cultural meanings
-Facilitate collective conversations
●● Brand Functions for Consumers: Brand Function is Functional
Answer: Consumer needs:
Basic needs for food, clothing, shelter, safety, or transportation
●● Brand Functions for Consumers: Brand Function is Identity Building
& Relational
Answer: Consumer needs:
,Need for coordinated social interaction, and concern for the welfare of
others
●● Brand Functions for Consumers: Brand Function is Symbolic
Answer: Consumer needs:
Need to signal uniqueness, status, and ability to control events
●● Brand functions for Consumers: Glasses Example
Answer: -functional: vision, nose grips, blue light lenses, light weight
-identity building/relational: academic identity, tortoise shell glasses like
others have
-symbolic: no intention to signal status, desire some uniqueness, need
glasses to complement face
●● What are the 4 challenges faced by brands?
Answer: 1. Consumers
2. Competitors
3.Collaborators
4. Context
●● Challenges Faced by Brands: Consumers
Answer: -thriftier
-more Selective In Relating to Brands
,-more Willing To Engage
-growing Multi-Culturalism
●● Challenges Faced by Brands: Competitors
Answer: -Growing Number
-From Different Places
-Crowded Marketplace
-Difficult to Differentiate
●● Challenges Faced by Brands: Collaborators
Answer: -Channel Consolidation
-Emergence of Powerful Mega-retailers
-Competing with Private Brands
●● Challenges Faced by Brands: Context
Answer: -New Technologies
-Growing Interconnectivity
-Reinvention of Business Models
-Short-term Focus
●● Brand Management
, Answer: involves a variety of tasks & decisions related to developing &
managing brands
●● Strategic Brand Management
Answer: -the process by which firms cope w/ these challenges in order
to build a long-term strategic advantage for their brands
-focused on long term development & management of the brand as a key
asset
--> commanding a price premium over competitors
--> platform for expanding the brand in new directions
--> build earnings & increase stock valuation
●● Which of the following is a challenge faced by brands in the 21st
century?
a. Growing Multi-culturalism
b. Channel consolidation
c. Competition from every corner of the world
d. Growing interconnectivity
e. All of the above
Answer: e. All of the above
●● brand
