Exam 1

Question 1

Brand

Answer 1

a name, term, symbol, design, or combinations which is intended to identify the goods and services of one sellers or group of sellers differentiate them from their competitors

Question 2

logo

Answer 2

Short for “logotype”. Sign, name or trademark of an institution, a firm or a publication, consisting of letter forms, borne on one printing plate or piece of type.

Question 3

symbol

Answer 3

a shape or sign used to represent a brand

Question 4

What is a brand?

Answer 4

-builds its identity and distinctiveness

-promise value

forms trust

Question 5

Branding

Answer 5

the process of using brands elements to differentiate goods and services by providing images

Question 6

Branding can be achieved through

Answer 6

-advertising and communications

-sponsoring and partnerships

-in store experience

-workshop

Question 7

Benefits of branding to the firm

Answer 7

-Differentiate its offerings

-increase profits

-reduce advertising costs

-become a leader among the competitors

-safeguard its product features from counterfeiting

Question 8

3 classes of branding

Answer 8

Consumer: brands for consumer use

Industrial brands: working in business-to-business

Private brands-produced by one entity and offered to consumers only through channels controlled by entity

Question 9

brand elements

Answer 9

Visible aspects of brands, such as logos, symbol, color, style, slogan

Question 10

A fashion brand

Answer 10

Any apparel, accessory, cosmetic, or nondurable home product offered for use, sale, or exchange that exhibits characteristics intended to identify and differentiate them from other similar goods and services

Question 11

brand image

Answer 11

the sum of a consumer’s perceptions and feelings of a brand

Question 12

user imagery

Answer 12

perceptions of the type of people who use the product or service

Question 13

usage imagery

Answer 13

situations or lifestyles in which the brand is used

Question 14

brand personality

Answer 14

human characteristics associated with a brand name

-A part of a symbolic nature of a brand image

Question 15

brand personality traits

Answer 15

sincerity, excitement, competence, sophistication, ruggedness

Question 16

brand equity

Answer 16

consumer subjective and intangible assessment of the brand and beyond its objectively perceived value. The power of brand lies in what consumer know about a particular brand

Question 17

brand salience

Answer 17

consumers’ abilities to recognize, or have awareness of, any particular brand

Question 18

How Fashion brands come about

Answer 18

Positioning: a brand

-Analyzing the target market

-Merchandising: A multistep process involving the sourcing, producing, distribution and preparing for wholesale and retail sale apparel products and other items for consumer use

Question 19

mass production

Answer 19

the ability to make items in large numbers and consistent quality

Question 20

Early Fashion Brands

Answer 20

Manufacturers sponsored products under their own names; became widely know as “as a manufacturer brand”

-The great recession in 1920

-Individuals retailers offered private brands to consumers

-Products of private brand were less expensive than products of manufacturer brands

Question 21

Protection of consumer rights 1910-present

Answer 21

The Federal trade commission: Promotes consumer protection and prevention of anticompetitive business practices

-Ex: price fixing, group boy cots, exclusive dealing contracts and unfair trade association rules

-The food and drug Administration (FDA): protects and promotes public heath through the regulation and supervisions of food and medicine safety, tobacco products, medical devices, cosmetics and advertising

Question 22

Wave 2 Mass marketing 1945-1980

Answer 22

A marketing strategy in which a firm decides to ignore market segment difference and appeal the whole market with one offer or one strategy which supports the idea of broadcasting a message that will reach the largest number of people possible

-Advertising was controlled by a few large networks

-Highlight product’s practical/dependable benefits

-Mega-brands dominate; lifestyle fashion brands are develop afterwards