CSFRST 2300 Latest Exam Questions
with Complete Solutions
Brand - Answer-An entity with a distinctive idea expressed in a set of functional and
experiential features with a promise of a value reward relevant to its end user, and an
economic return to its producers. A successful brand has a strong identity (mentally and
physically), is innovative, consistent, competitively positioned, and holds a matching
positive image in the consumer's mind
Branding - Answer-A multifunctional process that highlights a proposed value for a
product and transforms it into a real consumer experience
Image - Answer-The mental perception of how the buyer sees and understands the
brand's identity and value
Equity - Answer-A brand's market value is a function of the brand's 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
that extra "something" attached to a brand that adds value over and above the objective
characteristics of a product
Private Labels - Answer-Brands owned by a retailer and not a manufacturer. The
definition of private labels has expanded to refer to both private labels sold next to
manufacturers brands in multibranded stores (such as Club Room at Macy's or Target's
Isaac Mizrahi collection) as well as private brands sold solely in their exclusive stores
(such as Gap and Esprit)
Relevance - Answer-Confirms that what the brand is promising as a value makes sense
to the consumer and that it 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 brand's distinctive advantages so
that it stands out in the market to differ from specific competitors. Positioning is a
process or strategy that can be summarized in the following four questions: A brand for
what benefit? Who is the target, the potential customer? What are the differentiators
that support and can create such a benefit? Who is the competition?
Internal Marketing - Answer-The need to sell and market the brand's concept inside the
organization before attempting to do so to the outside world
External Marketing - Answer-External interaction with the market. This interaction
includes both early stages of market research and later activities aimed at marketing
and selling the brand concept to the rest of the world
with Complete Solutions
Brand - Answer-An entity with a distinctive idea expressed in a set of functional and
experiential features with a promise of a value reward relevant to its end user, and an
economic return to its producers. A successful brand has a strong identity (mentally and
physically), is innovative, consistent, competitively positioned, and holds a matching
positive image in the consumer's mind
Branding - Answer-A multifunctional process that highlights a proposed value for a
product and transforms it into a real consumer experience
Image - Answer-The mental perception of how the buyer sees and understands the
brand's identity and value
Equity - Answer-A brand's market value is a function of the brand's 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
that extra "something" attached to a brand that adds value over and above the objective
characteristics of a product
Private Labels - Answer-Brands owned by a retailer and not a manufacturer. The
definition of private labels has expanded to refer to both private labels sold next to
manufacturers brands in multibranded stores (such as Club Room at Macy's or Target's
Isaac Mizrahi collection) as well as private brands sold solely in their exclusive stores
(such as Gap and Esprit)
Relevance - Answer-Confirms that what the brand is promising as a value makes sense
to the consumer and that it 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 brand's distinctive advantages so
that it stands out in the market to differ from specific competitors. Positioning is a
process or strategy that can be summarized in the following four questions: A brand for
what benefit? Who is the target, the potential customer? What are the differentiators
that support and can create such a benefit? Who is the competition?
Internal Marketing - Answer-The need to sell and market the brand's concept inside the
organization before attempting to do so to the outside world
External Marketing - Answer-External interaction with the market. This interaction
includes both early stages of market research and later activities aimed at marketing
and selling the brand concept to the rest of the world
