Lesson 10 - Building Strong Brands

What is the primary function of branding?

• To increase production

• To create differences between products

• To reduce advertising costs

• To limit consumer choice

According to the American Marketing Association, a brand is defined as:

• A name, term, sign, symbol, or design that identifies products and differentiates them from competitors

• A legal trademark registered by a company

• A physical product with high quality

• A customer service strategy

What is the ultimate purpose of a brand?

• To increase manufacturing speed

• To create value beyond product and service aspects

• To eliminate competition

• To reduce customer feedback

Which soccer club became the world’s most valuable team in 2013?

• Manchester United

• Barcelona

• Real Madrid

• Bayern Munich

What strategy did Florentine Perez use to enhance Real Madrid’s brand?

• Lower ticket prices

• Signing top players and diversifying revenue streams

• Increasing advertising on television

• Changing the club's logo

What is a brand mantra?

• A legal document protecting the brand

• A three- to five-word articulation of the brand’s heart and soul

• A list of product features

• A customer review platform

Which of the following is NOT a characteristic of effective brand elements?

• Memorable

• Meaningful

• Adaptable

• Expensive

Which brand element is related to visual appeal?

• Meaningful

• Memorable

• Likable

• Transferable

What is the purpose of brand hierarchy?

• To reduce production costs

• To reflect the relationship between brands and products

• To standardize global pricing

• To simplify customer complaints

What is the role of a brand for consumers?

• To increase product costs

• To reduce consumer risk and set expectations

• To limit consumer choices

• To avoid product innovation