Marketing

Question 1

What are the components of a total product offer?

Answer 1

Value enhancers and considerations before purchase

Consumers will have their own priorities regarding which value enhancers are important to them.

Question 2

What must a brand be to effectively connect with consumers?

Answer 2

Authentic, relevant, and consistent

A brand must align with the values and core purpose of the company while promising something valuable to consumers.

Question 3

What is a brand promise?

Answer 3

The experience a company wants consumers to have

The brand promise is crucial for differentiating a brand from its competitors.

Question 4

How does branding set an organization apart?

Answer 4

By differentiating itself from competitors

A strong brand increases customer loyalty and enhances the organization’s market position.

Question 5

What is brand equity?

Answer 5

The value of the brand name and symbols

Brand equity reflects the brand’s strength in the marketplace.

Question 6

List three benefits of branding.

Answer 6

• Higher prices
• Loyal customers
• Easier to launch new products

Consumers are often willing to pay more for brands they perceive as higher quality.

Question 7

True or False: Strong branding makes it harder to attract and retain employees.

Answer 7

False

A positive brand image and promise can make it easier to attract and retain employees.

Question 8

Fill in the blank: The branding process involves _______.

Answer 8

[key learning term]

The specific steps involved in the branding process were not detailed in the provided content.