Test 1 Ch 3 Flashcards
True or False: “Brand value” refers to a company’s annual revenue and profits
False
Apple having $260 billion in revenues and a company worth of $2 trillion is an example of ____.
Brand Value
CLV stands for ____.
Customer Lifetime Value
True or False: If you love Nike and purchase a new pair of Nike shoes every year, it is reasonable to assume the Nike “brand” has impacted CLV.
True
Brands can create a lot of value by developing new ____. (Choose the best answer.)
Both categories and subcategories
True or False: Valuable brands are intentional and internally driven.
True
Someone thinking of Chick-fil-A when thinking of chicken sandwiches is an example of ____. (Choose the best answer.)
Brand positioning
True or False: You have to be aware of a brand, product, or service before you can purchase it.
True
True or False: Brand identity is important because it impacts our senses and emotions.
True
Heinz ketchup may be your favorite, but if a competing brand is cheaper, you’ll buy it. This is an example of ____.
Brand preference
True or False: Brand architecture refers to the way a company organizes its portfolio of brands, products, and services in a consistent and cohesive way.
True
True or False: A line extension refers to a brand moving into an entirely new category
False
Harley Davidson selling branded perfume is an example of ____. (Choose the best answer.)
A brand extension