Chapter 9: Part 3

Question 1

Brand equity

Answer 1

value consumers assign to a brand above and beyond the functional characteristics of the product

Question 2

Brand leverage (family branding, brand extensions, umbrella branding)

Answer 2

marketers capitalizing on brand equity by using an existing brand name for new products

Question 3

Successful brand leverage generally requires the original brand has strong image and new product fits with original on at least 1 of 4 dimensions

Answer 3

(1) Complement– two products are used together, (2) Substitute– new product can be used instead of the original, (3) Transfer– consumers see new product as requiring the same manufacturing as original, (4) Image– new product shares key component with the original