MKTG 3310 EXAM 5 QUESTIONS AND VERIFIED
ANSWERS
Brand is - Answers - a name, term, sign, symbol, or design, or a 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
Marketer's of the 21st century brands must excel at the - Answers - strategic brand
management process
Strategic brand management (SBM) is - Answers - the process that combines the
design and implementation of marketing activities and programs (think marketing mix!)
to build, measure, and manage brands to maximize their value
SBM has 4 main steps: - Answers - 1.Identifying and establishing... brand positioning
2.Planning and implementing... brand marketing
3.Measuring and interpreting... brand performance
4.Growing and sustaining... brand value
A brands' role for consumers: - Answers - -Set and fulfill expectations
-Reduce risk
-Simplify decision making
-Take on personal meaning
-Become part of identity
A brand is a _________ between the firm and the consumer - Answers - promise
A brands' role for firms: - Answers - -simplify product handling
-organize inventory and accounting
-offer legal protection
-create brand loyalty
-secure competitive advantage
, Successful brands are seen as - Answers - -genuine
-real
-authentic
-what they sell
-who they are
Branding is - Answers - The process of endowing products and services with the power
of a brand
Brand equity is - Answers - the added value endowed to products and services with
consumers
Customer based brand equity is - Answers - the differential effect brand knowledge has
on consumer response to the marketing of that brand
Brand promise is - Answers - the marketer's vision of what the brand must be and do for
consumers
3 key brand equity drivers - Answers - -brand element or identity choice
-product and accompanying marketing
-leveraging secondary associations
Brand element or identity choices are - Answers - devices, which can be trademarked,
that identify and differentiate the brand
Criteria for choosing brand elements - Answers - -memorable
-meaningful
-likable
-transferable
-adaptable
-protectable
Memorable, meaningful, likable are used for - Answers - brand building
Transferable, adaptable, protectable are used to - Answers - leverage & preserve brand
equity
Product and accompanying marketing should - Answers - be holistic in nature regarding
the development of a strong brand....this is accomplished through a range of contacts
and touch points
Brand contact is - Answers - Any information-bearing experience (positive or negative) a
customer or prospect has with the brand, its product category, or its market
ANSWERS
Brand is - Answers - a name, term, sign, symbol, or design, or a 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
Marketer's of the 21st century brands must excel at the - Answers - strategic brand
management process
Strategic brand management (SBM) is - Answers - the process that combines the
design and implementation of marketing activities and programs (think marketing mix!)
to build, measure, and manage brands to maximize their value
SBM has 4 main steps: - Answers - 1.Identifying and establishing... brand positioning
2.Planning and implementing... brand marketing
3.Measuring and interpreting... brand performance
4.Growing and sustaining... brand value
A brands' role for consumers: - Answers - -Set and fulfill expectations
-Reduce risk
-Simplify decision making
-Take on personal meaning
-Become part of identity
A brand is a _________ between the firm and the consumer - Answers - promise
A brands' role for firms: - Answers - -simplify product handling
-organize inventory and accounting
-offer legal protection
-create brand loyalty
-secure competitive advantage
, Successful brands are seen as - Answers - -genuine
-real
-authentic
-what they sell
-who they are
Branding is - Answers - The process of endowing products and services with the power
of a brand
Brand equity is - Answers - the added value endowed to products and services with
consumers
Customer based brand equity is - Answers - the differential effect brand knowledge has
on consumer response to the marketing of that brand
Brand promise is - Answers - the marketer's vision of what the brand must be and do for
consumers
3 key brand equity drivers - Answers - -brand element or identity choice
-product and accompanying marketing
-leveraging secondary associations
Brand element or identity choices are - Answers - devices, which can be trademarked,
that identify and differentiate the brand
Criteria for choosing brand elements - Answers - -memorable
-meaningful
-likable
-transferable
-adaptable
-protectable
Memorable, meaningful, likable are used for - Answers - brand building
Transferable, adaptable, protectable are used to - Answers - leverage & preserve brand
equity
Product and accompanying marketing should - Answers - be holistic in nature regarding
the development of a strong brand....this is accomplished through a range of contacts
and touch points
Brand contact is - Answers - Any information-bearing experience (positive or negative) a
customer or prospect has with the brand, its product category, or its market
