CH 14 Flashcards
The name, term, symbol, design, or any combination of these that identifies and differentiates a firm’s products.
Brand
The value the firm derives from consumers’ positive perception of its products.
Brand equity
The process of broadening the use of an organization’s current brand to include new products.
Brand extension
The unique set of associations target customers or stakeholders make with a brand
Brand image
A customer’s steadfast(Loyal) allegiance to a brand, as evidenced by repeated purchases
Brand loyalty
Components of a successful brand
-Deliver a product that provides value
-Create a consistent brand image and messaging
-Capture feedback
The elements of a brand not expressed in words that a consumer instantly recognizes, such as a symbol, color, or design.
Brand marks
The degree to which customers can identify the brand under a variety of circumstances.
Brand recognition
A strategy to recapture lost sources of brand equity and identify and establish new sources of brand equity.
Brand revitalization(rebranding)
A reduction in sales volume or market share of a company’s existing products due to the introduction of a new product made by the same company.
Cannibalization
A strategy in which two or more companies issue a single product in an effort to capitalize on the equity of each company’s brand.
Co-branding
The total amount a customer will spend from acquisition through the end of a relationship with a brand.
Customer Lifetime Value (CLV)
A brand that is marketed under the same name in multiple countries.
Global Brand
Brands that are managed and owned by the manufacturer.
Manufacturer brands
All of the activities of designing and producing the container for a product.
Packaging
Products developed by a retailer and sold only by that specific retailer. Also referred to as store brands.
Private-label brands
A family traveling in their car is looking for a place to eat off the highway. One of the children in the car sees a sign up ahead with a big bell on it and exclaims, “Let’s go to Taco Bell!” This is most likely an example of brand
equity.
labeling.
recognition.
preference.
recognition
DrinkUp, a beverage manufacturer, has a business strategy concentrated on developing environmentally-friendly products. It uses green colored packaging to indicate the eco-friendly component of its products. This helps DrinkUp’s products stand out and be recognized easily. This scenario exemplifies the use of
brand perception.
brand loyalty.
brand marks.
brand equity.
brand marks.
Gucci handbags are a premium-priced luxury item. They come wrapped in high-quality dust bags with the Gucci logo. If the company decided to do away with the dust bag and instead put them in a plain brown bag, what would be the most likely outcome?
he brown bag will signal high quality to customers.
The customers will develop a positive brand image.
Product image will be unaffected.
Customers will be more likely perceive the product to be of poor quality.
Customers will be more likely perceive the product to be of poor quality.
Capitalizing on its high brand equity, a manufacturer of cell phone accessories introduces a new product, Presto, which is a retractable cell phone charging cord. After the successful rollout and high sales of Presto, the company discovers that the sales of its existing phone chargers have dropped significantly. Which phenomenon does this scenario exemplify?
market development
market diversification
co-branding
cannibalization
cannibalization
Twelve consumers are participating in a focus group. They are asked to list terms and phrases that occur to them when they hear the brand name, “Mix Master.” The marketers of the brand use the consumers’ responses to gain insight into what consumers think of the brand. This focus group is using
projective association.
audience optimization.
ad hoc feedback.
free association.
free association.
When the makers of Reese’s candy bars decided to manufacture Reese’s peanut butter, it was an example of
cannibalization.
brand extension.
brand revitalization.
product extension.
brand extension.
Which statement is true of brand loyalty?
Consumers who exhibit brand loyalty are typically more price sensitive than other consumers.
It is a consumer’s perception of a brand that develops independent of consumer satisfaction.
Consumers who exhibit brand loyalty weaken the pricing power of a brand.
Brand loyalty refers to consumers’ steadfast allegiances to a brand, displayed through repeat purchases.
Brand loyalty refers to consumers’ steadfast allegiances to a brand, displayed through repeat purchases.
Soho is a new restaurant chain in the United States. The chain has a strong online presence in the form of a website and on many review sites. Soho wants to capture its presence on blogs posted by customers so it can post links to these blogs on its website, which will serve as testimonials. Which tool should Soho use?
Twitter Search
Hootsuite Impact
Social Mention
UTM Parameters
Social Mention
