Brand Management Chapter 1

What is the key to creating a brand?

• Increasing the quantity of the product

• Choosing a name, logo, symbol, package design, or other characteristic that identifies a product

• Changing the product frequently

• Lowering the price of the product

What are the five levels of meaning for a product?

• Primary product level, Secondary product level, Tertiary product level, Quaternary product level, Quinary product level

• Initial product level, Intermediate product level, Final product level, Ultimate product level, Supreme product level

• Basic product level, Standard product level, Advanced product level, Premium product level, Luxury product level

• Core benefit level, Generic product level, Expected product level, Augmented product level, Potential product level

What functions do brands provide to consumers?

• Hide the source or maker of the product, Complicate product decisions, Increase the search costs for products internally and externally, Mislead consumers about the brand

• Increase the complexity of product decisions, Raise the search costs for products internally and externally, Confuse consumers about the brand, Set unreasonable expectations about the brand

• Remove the source or maker of the product, Complicate product decisions, Increase the search costs for products internally and externally, Mislead consumers about the brand

• Identify the source or maker of the product, Simplify product decisions, Lower the search costs for products internally and externally, Helps set reasonable expectations about what consumers may not know about the brand

What are the functions that brands provide to firms?

• Simplify product handling and tracing, Help disorganizing inventory and accounting records, Offer the firm illegal protection for unique features or aspects of the product, Provide unpredictability and insecurity of demand for the firm and removes barriers of entry for competitors

• Complicate product handling and tracing, Hinder organizing inventory and accounting records, Deny the firm legal protection for unique features or aspects of the product, Create unpredictability and insecurity of demand for the firm and removes barriers of entry for competitors

• Simplify product handling and tracing, Help organizing inventory and accounting records, Offer the firm legal protection for unique features or aspects of the product, Provide predictability and security of demand for the firm and creates barriers of entry for competitors

• Complicate product handling and tracing, Hinder organizing inventory and accounting records, Deny the firm legal protection for unique features or aspects of the product, Create predictability and security of demand for the firm and removes barriers of entry for competitors

What are the two phenomena related to branding that technology has offered?

• Radio advertising and Television commercials

• Billboard ads and Brochure distribution

• Social media platforms and Peer-to-peer sharing

• Traditional media and Print media

What are the strongest brands?

• Best known, Most highly regarded, Maintaining brand relevance and differentiation

• Least known, Least highly regarded, Ignoring brand relevance and differentiation

• Moderately known, Moderately regarded, Occasionally maintaining brand relevance and differentiation

• Well known, Well regarded, Sometimes maintaining brand relevance and differentiation

What is the strategic brand management process about?

• Identifying and Developing Brand Plans, Designing and Implementing Brand Marketing Programs, Ignoring Brand Performance, Growing and Sustaining Brand Equity

• Identifying and Developing Brand Plans, Designing and Implementing Brand Marketing Programs, Measuring and Interpreting Brand Performance, Growing and Sustaining Brand Equity

• Identifying and Developing Brand Plans, Designing and Implementing Brand Marketing Programs, Measuring and Interpreting Brand Performance, Reducing Brand Equity

• Ignoring Brand Plans, Avoiding Brand Marketing Programs, Neglecting Brand Performance, Reducing Brand Equity

What are the components that identify and differentiate a brand?

• Marketing elements

• Product elements

• Sales elements

• Brand elements

What are the differences between a product and a brand?

• Rational and tangible related to product performance of the brand, Or may be more symbolic, emotional, and intangible related to what the product represents

• Irrational and intangible related to product performance of the brand, Or may be more symbolic, emotional, and intangible related to what the brand represents

• Rational and tangible related to product performance of the brand, Or may be more symbolic, emotional, and tangible related to what the brand represents

• Rational and tangible related to product performance of the brand, Or may be more symbolic, emotional, and intangible related to what the brand represents

What are the roles that brands play for consumers?

• Identification of source of product, Assignment of responsibility to product maker, Risk reducer, Search cost reducer, Promise, bond, or pact with maker of product, Symbolic device, Signal of low quality

• Identification of source of product, Assignment of responsibility to product maker, Risk increaser, Search cost increaser, Promise, bond, or pact with maker of product, Symbolic device, Signal of low quality

• Identification of source of product, Assignment of responsibility to product maker, Risk reducer, Search cost reducer, Promise, bond, or pact with maker of product, Symbolic device, Signal of high quality

• Identification of source of product, Assignment of responsibility to product maker, Risk reducer, Search cost reducer, Promise, bond, or pact with maker of product, Symbolic device, Signal of quality