Branding

Question 1

Define brand

Answer 1

A name, word, symbol, or design that identifies an organization and its products

Question 2

Define brand name

Answer 2

A word or words, letters, or numbers representing a brand

Question 3

Define trademark

Answer 3

A device that legally identifies ownership of a registered brand or trade name

Question 4

Define brand equity

Answer 4

The value a brand has beyond its actual functional benefits

Question 5

Why is brand equity important

Answer 5

Customers are generally willing to pay a higher price for products with brand equity
Brand equity has financial value through licensing

Question 6

List the 3 steps in developing brand equity

Answer 6

1. Develop
2. Link
3. Help

Question 7

Explain develop

Answer 7

“Develop” the brand in the customers mind as part of a class of products

Question 8

Example of developing

Answer 8

Gatorade is a sports drink

Question 9

Explain link

Answer 9

“Link” the products name to its function and make some kind of emotional connection with the product

Question 10

Example of linking

Answer 10

Gatorade helps athletes to perform better in athletic events

Question 11

Explain help

Answer 11

“Help” consumers think and feel the way you want them to regarding your product

Question 12

Example of helping

Answer 12

Gatorade is the best product of choice for successful athletes

Question 13

Explain manufacturer brands

Answer 13

A brand owned by the producer of the product

Question 14

List the 3 types of manufacturer brands

Answer 14

1. Multi-product branding
2. Multi-branding
3. Co-branding

Question 15

Explain multi-product branding

Answer 15

Used when the manufacturer uses one name for all its products

Question 16

Example of multi-product branding

Answer 16

Nike

Question 17

Explain multi-branding

Answer 17

Each product in a product line has a distinctive name

Question 18

Advantage and disadvantage of multi-branding

Answer 18

Advantage: each product has its own distinct image
Disadvantage: cost

Question 19

Example of multi-branding

Answer 19

Procter & Gamble

Question 20

Explain co-branding

Answer 20

Combines one or more brands to increase customer loyalty and sales for each products

Question 21

Example of co-branding

Answer 21

American Express and Air Miles

Question 22

Explain intermediary brands

Answer 22

Carries a name developed by the wholesaler
Intermediaries contract with manufacturers to make products that are sold under their own private labels

Question 23

Example of intermediary brands

Answer 23

Costco - Kirkland

Question 24

Explain generic brands

Answer 24

Represents a general product category and does not carry a company or a brand name

Question 25

Examples of generic brands

Answer 25

Life Brand - Shoppers
No Name - NoFrills

Question 26

List 6 things a brand can do to be successful

Answer 26

1. Offer a benefit
2. Be simple
3. Be different and positive
4. Reflect an image
5. Be previously unregistered
6. Make it last