Test 2 chapter 10

Question 1

Brands

Answer 1

Bundle of images and experiences in the customer’s mind
A promise made by a particular company about a particular product
A quality certification
Differentiation between competing products
The sum of impressions about a brand is the Brand Image

Question 2

Product

Answer 2

A product is a good, service, or idea
Tangible Attributes
Intangible Attributes
Product classification
Consumer goods
Industrial goods

Question 3

Brand Equity

Answer 3

The added value that accrues to a product as a result of investments in the marketing of the brand
An asset that represents the value created by the relationship between the brand and customer over time

Question 4

Brand Equity Benefits

Answer 4

Greater loyalty
Less vulnerability to marketing actions
Less vulnerability to marketing crises
Larger margins
\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
Increased marketing communication effectiveness

Question 5

Local Products and Brands

Answer 5

Brands that have achieved success in a single national market
Represent the lifeblood of domestic companies
Entrenched local products/brands can be a significant competitive hurdle to global companies

Question 6

International Products and Brands

Answer 6

Offered in several markets in a particular region
‘Euro-brands’
Honda 5-door hatchback auto is known as Fit in Japan and Jazz in Europe

Question 7

Global Products and Brands

Answer 7

Global products meet the wants and needs of a global market and are offered in all world regions
Global brands have the same name and similar image and positioning throughout the world

Question 8

Branding Strategies

Answer 8

Combination or tiered branding allows marketers to leverage a company’s reputation while developing a distinctive identity for a line of products
Sony Walkman
Toyota Camry vs. BMW 750
Co-branding features two or more company or product brands
NutraSweet and Coca-Cola
Intel Inside

Question 9

Brand Extension

Answer 9

Brand acts as an umbrella for new products
Example: The Virgin Group
Virgin Entertainment: Virgin Mega-stores and MGM Cinemas
Virgin Trading: Virgin Cola and Virgin Vodka
Virgin Radio
Virgin Rail (UK only)
Virgin Media Group: Virgin Publishing, Virgin Television, Virgin Net (UK only)
Virgin Hotels
Virgin Travel Group: Virgin America Airways, Virgin Holidays, Virgin Galactic

Question 10

Country of Origin as Brand Element

Answer 10

Perceptions about and attitudes toward particular countries often extend to products and brands known to originate in those countries
Japan
Germany
France
Italy

Question 11

Extend, Adapt, Create: Strategic Alternatives in Global Marketing

Answer 11

Extension – offering product virtually unchanged in markets outside of home country
Adaptation – changing elements of design, function, and packaging according to needs of different country markets
Creation – developing new products for the world market