WHAT IS BRANDING? INTRODUCTION
EXAM QUESTIONS WITH COMPLETE
SOLUTIONS
What are the 3 categories of products that describes their propensity to be evaluated
before purchase? - Answer-1. Search products.
2. Experience products.
3. Credence products.
What are the 5 main effects that brands may have on companies? - Answer-1. Higher
price.
2. Increased loyalty.
3. More bargaining power.
4. More effective marketing communications.
5. Better growth opportunities.
What are the 3 most important growth strategies for brands? - Answer-1. Brand
extensions.
2. Brand alliances.
3. Brand licensing.
What is a brand? - Answer-A brand is a product with an identity.
What is brand identity? - Answer-Brand identity is the sum total of all associations
customers hold towards a product.
What is branding? - Answer-Branding is the process of creating a desired identity for a
product.
What is brand management? - Answer-Brand management is the systematic planning,
implementation and evaluation of efforts to create a desired identity for a product.
What is a brand element? - Answer-A brand element is a name, symbol, or other
feature used to identify a product and differentiate it from other products.
What are the 2 main functions of brand elements? - Answer-1. Identification.
2. Differentiation.
What is identification? - Answer-Identification means making customers aware of a
brand and tie certain associations to it.
What is differentiation? - Answer-Differentiation means distinguishing a brand from its
competitors.
EXAM QUESTIONS WITH COMPLETE
SOLUTIONS
What are the 3 categories of products that describes their propensity to be evaluated
before purchase? - Answer-1. Search products.
2. Experience products.
3. Credence products.
What are the 5 main effects that brands may have on companies? - Answer-1. Higher
price.
2. Increased loyalty.
3. More bargaining power.
4. More effective marketing communications.
5. Better growth opportunities.
What are the 3 most important growth strategies for brands? - Answer-1. Brand
extensions.
2. Brand alliances.
3. Brand licensing.
What is a brand? - Answer-A brand is a product with an identity.
What is brand identity? - Answer-Brand identity is the sum total of all associations
customers hold towards a product.
What is branding? - Answer-Branding is the process of creating a desired identity for a
product.
What is brand management? - Answer-Brand management is the systematic planning,
implementation and evaluation of efforts to create a desired identity for a product.
What is a brand element? - Answer-A brand element is a name, symbol, or other
feature used to identify a product and differentiate it from other products.
What are the 2 main functions of brand elements? - Answer-1. Identification.
2. Differentiation.
What is identification? - Answer-Identification means making customers aware of a
brand and tie certain associations to it.
What is differentiation? - Answer-Differentiation means distinguishing a brand from its
competitors.
