BRAND EQUITY

Question 1

refers to the intangible value that a brand holds in the minds of consumers. It encompasses various factors such as brand recognition, reputation, loyalty, and perceived value.

Answer 1

Brand equity

Question 2

is thus a product or service whose dimensions differentiate it in some way from other products or services designed to satisfy the same need.

Answer 2

A brand

Question 3

is the process of endowing products and services with the power of a brand. It’s all about creating differences between products.

creates mental structures that help consumers organize their knowledge about products and services in a way that clarifies their decision making and, in the process, provides value to the firm.

Answer 3

BRANDING

Question 4

Recognition of the brand by customers and potential customers.

Answer 4

Brand Awareness

Question 5

Customers’ willingness to purchase from the same brand over time.

Answer 5

Brand Loyalty

Question 6

The level of perceived quality associated with the brand.

Answer 6

Perceived Quality

Question 7

The values and attributes associated with the brand

Answer 7

Brand Associations

Question 8

are devices, which can be trademarked, that identify and differentiate.

Answer 8

Brand elements

Question 9

also known as brand mascots or brand ambassadors, are fictional or real characters that represent a brand and its values.

Answer 9

Brand characters

Question 10

consists of activities and processes that help
inform and inspire employees about brands.

Answer 10

INTERNAL BRANDING

Question 11

is a structured approach to assessing the sources and
outcomes of brand equity and the way marketing activities create brand value.

Answer 11

The brand value chain

Question 12

focused series of procedures to assess the health of the brand, uncover its sources of brand equity, and suggest ways to improve and leverage its equity.

Answer 12

BRAND AUDIT

Question 13

is a model developed to formally estimate the dollar value of a brand. It defines brand value as the net present value of the future earnings that can be attributed to the brand alone.

Answer 13

Brand worth

Question 14

a collection of every product, service and brand that a company offers.

Answer 14

Brand Portfolio

Question 15

the set of activities where companies ensure that brand equity created doesn’t depreciate with time.

Answer 15

Brand Reinforcement