Enhancing brand equity and accountability

Question 1

Brand

Answer 1

name, term, sign, symbol, design or combination of them intended to identify the goods or service of one seller or group of sellers and differentiate them from those of competition.

Question 2

Important aspects of a brand

Answer 2

identification and differentiation

Question 3

What results if the equity of a brand increases

Answer 3

1. achieving higher market share
2. increasing brand loyalty
3. being able to charge premium prices
4. earning a revenue premium

Question 4

revenue premium

Answer 4

the revenue difference between a branded item and a corresponding private labelled (store brand) item.

Question 5

4 key components of Brand asset Valuator

Answer 5

1. Differentiation - the degree to which a brand is seen as unique or different from others.
2. Relevance - the degree to which the consumers identifies the brand or is involved in the brand in their everyday lives.
3. Esteem - the degree to which the brand is held in high regard and well respected.
4. Knowledge - the degree to which consumers is familiar with and aware of the brand.

Question 6

Brand awareness pyramid

Answer 6

1. Unawareness
2. Recognition
3. Recall
4. Top of mind awareness

Question 7

5 personality dimension that describes a brand

Answer 7

1. sincerity
2. excitement
3. competence
4. sophistication
5. ruggedness