Semester 1 Week 8

Question 1

What is a brand?

Answer 1

A name, sign, symbol, or design or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of the competitor

Question 2

Why brand things?

Answer 2

-To identify the goods and/or services of the seller
-To differentiate them from those of the competitor. (Brands should have a unique selling point to enable them to stand out)
-To convey an offering to target CONSUMERs

Question 3

What are the 3 building blocks of brand building?

Answer 3

-The who
-The what
-The How

Question 4

What does the who mean in brand building?

Answer 4

You target consumers

Question 5

What does the what building block mean in branding?

Answer 5

Your brand identity & personality - your key products & innovation

Question 6

What does the WHO building block mean as a brand building block?

Answer 6

All of the ways you can communicate your brand to your consumers i.e the way your consumers can interact with you

Question 7

What are the things covered in the brand equity model?

Answer 7

-Availability
-Preference
-Loyalty
-Awareness
-Familiarity
-Image & Personality
-Associations

Question 8

What does packaging do?

Answer 8

-It holds the product
-It protects the product
-It informs the consumer
-It sells the product

Question 9

What does the packaging Communicate?

Answer 9

-Brand logo
-Consumer benefit information
-Usage Instructions
-Safety Information

Question 10

What is the definition of Advertising?

Answer 10

To call the public’s attention to your business, usually for the purpose of selling products or services, through the use of various forms of media, such as print or broadcast notices.

Question 11

What are the 3 stages every business go through?

Answer 11

1. The start-up business
2. The growing business
3. The established business

Question 12

What does it mean to be in the start-up stage?

Answer 12

You’re new to the market and need to establish your identity. Your company needs high levels of promotion and publicity to grab consumers’ attention

Question 13

What does it mean to be in the growing business stage?

Answer 13

Once your identity is established, you need to differentiate yourself from your competition and convince buyers that yours is the service or product to try.

Question 14

What does it mean to be in the established stage of business?

Answer 14

The purpose at this point is to remind consumers why they should continue buying from you.

Question 15

What does AIDA stand for?

Answer 15

Awareness
Interest
Desire
Action

Question 16

What are the four stages in an advertising campaign?

Answer 16

1. Define your market
2. Establish your budget
3. Plan which media you’ll use
4. Create an advertising strategy

Question 17

What does it mean to define your market?

Answer 17

Determine who your target market is (those who are most likely to buy your product or service)

Question 18

What does establish your budget mean in an advertising campaign?

Answer 18

Know what you can afford to spend to reach your target audience

Question 19

What does Plan which media you’ll use in an advertising campaign mean?

Answer 19

Figure out what are the best ways to reach your prospective customers with your message

Question 20

What does Create an Advertising strategy mean?

Answer 20

Choose the most effective message and visuals for your advertising campaign

Question 21

What is the marketing 4P’s strategy defined as?

Answer 21

The set of marketing tools that the firm uses to pursue its marketing objectives in the target

Question 22

What are the 4 P’s ?

Answer 22

Product
Price
Promotion
Place

Question 23

What are the 7P’s?

Answer 23

People
Process
Physical
Product
Price
Promotion
Place

Question 24

What are the 5 technologies that will have the biggest impact on future marketing?

Answer 24

-AI
-Machine Learning
-Marketing & Advertising Technologies
-Voice/chat/digital assistants
-Mobile tech and apps

Question 25

What are the four types of AI marketing

Answer 25

-Stand-alone machine-learning apps
-Integrated machine-learning apps
-Stand-Alone task-automation apps
-Integrated task-automation apps