DEVELOPING A BRAND FOR THE PRODUCT

Question 1

6 BENEFITS of developing a brand

Answer 1

1. Increased Brand Recognition
2. Improved Customer Loyalty
3. Higher Perceived Value
4. Enhanced Reputation
5. Attracting Top Talent
6. Command Premium Pricing

Question 2

2 under increased brand recognition

Answer 2

1. Memorability
2. Trust

Question 3

easy to remember and recall

Answer 3

memorability

Question 4

recognition fosters familiarity and trust (more likely to choose brand)

Answer 4

trust

Question 5

2 under improved customer loyalty

Answer 5

1. Emotional Connection
2. Repeat Business

Question 6

repeat purchase, recommend to others

Answer 6

repeat business

Question 7

2 under higher perceived value

Answer 7

1. Differentiation
2. Premium Pricing

Question 8

product stand outs

Answer 8

Differentiation

Question 9

branded perceived as higher value thus customers willing to pay more

Answer 9

premium pricing

Question 10

2 under enhanced reputation

Answer 10

1. Trustworthiness
2. Crisis Management

Question 11

positive reputation instill credebility

Answer 11

trustworthiness

Question 12

mitigate impact of negative events

Answer 12

crisis management

Question 13

2 under attracting top talent

Answer 13

1. Employer Branding
2. Employee Satisfaction

Question 14

attract top talents willing to work for the brand

Answer 14

employer branding

Question 15

positive brand culture

Answer 15

employee satisfaction

Question 16

customers willing to pay more for products from well-known brands

Answer 16

command premium pricing