Chapter 9

Question 1

What is a brand?

Answer 1

A name, symbol, icon, design, or combination that identifies the maker or marketer of a product

Question 2

What are some of the advantages that branding gives marketers?

Answer 2

1. Brand name becomes basis on which a whole story can be built about a product’s special qualities
2. Brand name & trademark provide legal protection for unique product features that otherwise might be copied by competitors
3. Branding helps marketers segment markets

Question 3

What is a trademark?

Answer 3

Can be names, symbols, characters, and shapes (i.e. Coca Cola bottle)

Question 4

What is the key to communicating a brand meaning?

Answer 4

Get consumers to associate your brand with one word (ex: Volvo owns the word safety)

Question 5

What is a logo?

Answer 5

Designs that represent a brand that may or may not incorporate their name (ex: Nike Swoosh)

Question 6

What is brand personality?

Answer 6

Sum total of all attributes of a brand, and the emotions it inspires in the minds of consumers

Question 7

What is brand equity?

Answer 7

Dollar amount attributed to the value of a brand, based on all the intangible qualities that create that value

Question 8

What are the 4 consumer perception dimensions?

Answer 8

1. Differentiation
2. Relevance
3. Esteem
4. Knowledge

Question 9

What is customer equity?

Answer 9

The value of customer relationships that the brand creates

Question 10

What is a national brand?

Answer 10

A brand created and owned by the manufacturer of a product

Question 11

What are private brands?

Answer 11

Brand names applied by a marketer to products manufactured for them under a contract

Question 12

What is licensing?

Answer 12

Buying and selling of rights to use a brand name, logo, character, icon, or image

Question 13

What is co-branding?

Answer 13

Occurs when two established brand names of different companies are used on the same product (two brands must be complimentary)

Question 14

What are the 3 options a company has when it comes to developing brands?

Answer 14

1. Can create line extensions or brand extensions
2. Pursue multi brand strategy
3. Create entirely new brands

Question 15

What are line extensions?

Answer 15

Occur when a company extends existing brand names to new forms, colours, sizes, ingredients, or flavours of an existing product category (ex: Honey Nut Cheerios are extension of Cheerios product line)

Question 16

What are the risks involved with line extensions?

Answer 16

1. Overextended brand name might lose specific meaning

2. Sales of extension may come at the expense of other items in line

Question 17

What are brand extensions?

Answer 17

Extend a current brand name to new or modified products in a new category

Question 18

What is multi branding?

Answer 18

A brand development strategy in which the same manufacturer produces many different brands in the same product category

Question 19

What is a major drawback of multi branding ?

Answer 19

Each brand might obtain only a small market share

Question 20

What is one of the most important marketing management roles?

Answer 20

Brand manager

Question 21

What is brand communications?

Answer 21

Focuses on communicating brand positioning, or image, rather than on product features

Question 22

What are touch points?

Answer 22

Advertising, marketing, communications, personal experience with the brand, word of mouth, social media, company and brand websites, store displays, and anything else that brings consumers into contact with the brand

Question 23

What are the 4 dimensions of a brand experience?

Answer 23

1. Sensory
2. Affective
3. Behavioural
4. Intellectual

Question 24

What are brand icons?

Answer 24

Objects with distinct shapes, colours, or patterns that are associated with the brand

Question 25

What are brand characters?

Answer 25

Lifelike brand icons, or mascots, that can move, speak, and interact, and have personality traits

Question 26

What is brand engagement?

Answer 26

Interaction between consumers and brands, based on emotional connection consumers feel towards a brand

Question 27

What are brand ambassadors?

Answer 27

Real people who, under contract with a brand’s marketing organization, act as a spokesperson for a brand

Question 28

What is branded content (content marketing)?

Answer 28

Any form of information or story written and produced by a brand marketer, with a brand clearly and prominently featured

Question 29

What is branded entertainment?

Answer 29

A form of entertainment, usually video, that is created w cooperation or financial support from a marketer

Question 30

What are brand advocates?

Answer 30

Customers, employees, and others who willingly and voluntarily promote their favourite brands

Question 31

What is the difference between brand advocates and brand ambassadors?

Answer 31

Advocates are not being paid to talk about a product