Chapter 4

Question 1

How does branding allow consumers to simplify their buying decisions?

Answer 1

It provides a method of classification, differentiation, and identification for similar products.

Question 2

Difference between marketing and branding?

Answer 2

Marketing focuses on execution, while branding is the strategy that guides marketing.

Question 3

Branding is figuring out how to make your product _____ in the minds of the consumers.

Answer 3

Different, better, and special

Question 4

It is not always ____ that matters but rather _____ of a given brand’s superiority that paved the road to success.

Answer 4

Actual product superiority; consumers’ perception

Question 5

Consumers trust advertising. True, or false?

Answer 5

False.

Question 6

Brand Positioning

Answer 6

The focused articulation of the brand strategy using insights gained from research.

Question 7

What 3 actions could you take to create a strong, successful brand?

Answer 7

1) Build trust with the customers
2) aim at a specific target audience
3) actively monitor the marketplace for changes

Question 8

What is typically the key to success in marketing?

Answer 8

Create a strong brand to differentiate your product from competitors’ products.