Chapter 7

Question 1

Brand equity:

Answer 1

A set of brand assets and liabilities linked to a brand, its name, and symbol that add to or subtract from the value provided by a product or service and /or to that firm’s customers.

Question 2

Brand

Answer 2

A name, sign, symbol, or logo that identifies the products and services of one firm and differentiates them from competitors.

Question 3

Customer-based brand equity

Answer 3

The differential effect that customers’ brand knowledge has on their response to activities and programs for that brand.

Question 4

Brand Salience

Answer 4

Is tied directly to brand awareness and is the degree to which a brand is thought about or noticed by customers in a buying situation.

Question 5

Brand awareness

Answer 5

Refers to the customers’ ability to recall or recognize a brand under different conditions.

Question 6

Brand positioning

Answer 6

Involves establishing unique brand associations in the mind of customers to differentiate the bran and establish competitive superiority.

Question 7

Brand performance

Answer 7

The way in which the product or service meets customers’ more functional needs.

Question 8

Brand imagery

Answer 8

The ways in which the brand attempts to meet customers’ more abstract psychological or social needs.

Question 9

Customer judgments

Answer 9

Are particular vital to the creation of a strong brand

Question 10

Security

Answer 10

The feelings of comfort or self-assurance produced by the brand.

Question 11

Brand resonance

Answer 11

Represents the strength of the psychological bond that a customer has with a brand and the degree to which this connection translates into loyalty, attachment, and active engagement with the brand.

Question 12

Brand mantra

Answer 12

A short three- to five word summary of the essence of the brand - can be powerful in communication the core values of the brand to the employees.

Question 13

Brand attitude

Answer 13

Defined as the percentage of organizational buyers who have a positive image of a company minus those with a negative opinion.

Question 14

Custom-designed products

Answer 14

These items are created to meet the needs of one or a small group of customers. Sometimes the product is a unique unit, such as a power plant or a specific machine tool. Boing.

Question 15

Custom-build products

Answer 15

These items are offered as a set of basic units, with numerous accessories and options. For example, NCR offers a line of retail

Question 16

Industrial services

Answer 16

Where the buyer is purchasing a company’s capability in an area such as maintenance, technical service, or management consulting rather than an actual product.

Question 17

Product market

Answer 17

Establishes the distinct arena in which the business marketer competes.

Question 18

Product positioning

Answer 18

Represents the place that a product occupies in a particular market; it is found by measuring organizational buyers’ perceptions and preferences for a product in relation to its competitors

Question 19

Determinant

Answer 19

Attributes that customers use to differentiate among the alternatives and that are important to them in determining which bran they prefer. In short, then, determinant attributes are choice criteria that are both important and differentiating

Question 20

Discontinuous innovations

Answer 20

New products or services that requires the end-user and the marketplace to dramatically change their past behavior, with the promise of gaining equally dramatic benefits.

Question 21

Types of Technology Customers:

Answer 21

Technology enthusiasts: They serve as gatekeepers to the rest of the technology life cycle, and their endorsement is needed for an innovation to get fair hearing in the organization.
Visionaries: Have resource control and can often be influential in publizing an innovation’s benefits and giving it a boost during the early stages of market development.
Pragmatists: Are analytical, support evolution, and provide the pathway to the mainstream market
Conservatives
Skeptics

Question 22

Customer Benefits

Answer 22

Core and add-ons

Question 23

Brand response

Answer 23

Quality—the customer’s attitudes toward a brand’s perceived quality as well as their perceptions of value and satisfaction
Credibility—the extent to which the brand as a whole is perceived by customers as credible in terms of expertise, trustworthiness, and likeability;

Consideration set—the degree to which customers find the brand to be an appropriate option worthy of serious consideration;

Superiority—the extent to which customers believe that the brand offers unique advantages over competitors’ brands.

Question 24

Brand imagery

Answer 24

brand attempts to meet customers’ more abstract psychological or social needs.