This is a name, term, design, or symbol, or a combination of these, that identifies a business or organization.

• Brand

• Icon

• Emblem

• Pictogram

This is the marketing strategy used to identify and differentiate a product, a service, or a company from competitors.

• Encoding

• Converting

• Decoding

• Branding

Nike’s Air Jordan basketball shoes have a very high perceived value by the customer. This high-perceived value does not reflect the actual cost to make and distribute the product, only how much it is perceived to be worth. This illustrates the concept of:

• Industrial Equity

• Commercial Equity

• Brand Equity

• Decoded Equity

Which of the following is a correct statement about brands?

• The brand tells customers what they can expect from a product or a service.

• The brand is the visual representation of a promise made to customers.

• Today, we tend to purchase brands and not products.

• All of these are correct statements about brands.

These are the opportunities a business has to connect with customers and to reinforce the brand image in the mind of that customer.

• Touch Points

• Marketing Points

• Production Points

• Commercial Points

This is a product created by a manufacturer or a distributor for resale using numerous retail outlets. Nike and Under Armour are good examples of these.

• Industrial Brands

• National Brands

• Private Brands

• Generic Brands

These products and brands are usually created by a large retailer to be sold exclusively in their stores.

• Industrial Brands

• National Brands

• Private Brands

• Generic Brands

These products are produced without a recognizable name. They are not promoted and are generally less expensive than any other brand.

• Industrial Brands

• National Brands

• Private Brands

• Generic Brands

Which of the following is a correct statement about private brands?

• The profit margin on private brands is often higher than national brands.

• Private brands can also create store loyalty since the product is only available there.

• Private brands may imitate the shape, packaging, and labeling of national brands.

• All of these statements are correct about private brands.

This can be a drawing, a photo, a symbol, or a computer generated image. It will be unique and distinctive in some way and will serve to easily identify the product, brand, or organization.

• Logo

• Insignia

• Badge

• Crest