Chapter 9 - Building and Managing Brand Equity

Brand association is anything directly related to the consumer's memory to a brand.

FALSE

Brand awareness does not provide competitive advantages, only key success factors.

FALSE

Proof points are programs, initiatives, and assets that are planned to provide substance to the strategic position.

FALSE

The three types of brand assets are brand awareness, brand equity and brand loyalty.

FALSE

The three steps of creating a brand identity are _____________, _____________, and _____________.

Identifying what brand should stand for, defining the core identity, communicate the brand internally

To manage customer loyalty, organizations will measure loyalty of existing customers, manage customer touch points, conduct exit interviews, maintain communication with customers, have a customer culture, measure the lifetime value of a customer, _______________ and _______________.

Reward loyal customers, make customers feel a part of the organization

A strategic imperative is an investment in an asset or program that is essential if the promise to the customers is to be delivered.

TRUE

Brand awareness serves to differentiate brands along a recall/familiarity dimension.

TRUE

Brand identity serves to drive and guide strategic initiatives throughout organizations, drive the communication program and support the expression of the organization's values and culture.

TRUE

Firms dependent on brand association position based on certain attributes are vulnerable to competitor innovation and shouting matches that lead to lost credibility.

TRUE

Maintaining relevance is the battle to stay associated with the product category in which the customer is interested.

TRUE

Organizations can increase their likelihood of brand awareness by extending their presence outside the conventional media channels and using methods such as promotions, publicity and sampling.

TRUE

The Datsun name was just as strong as the Nissan name four years after the name change primarily because brand awareness is an asset that can be extremely durable and thus sustainable.

TRUE

The strongest brands often offer emotional benefits. They are about the "I feel" statement. Other strong brand benefit offerings are a self-expressive benefits, which are all about the "I am."

TRUE

The ultimate measure of brand loyalty is that customers will recommend the brand to others.

TRUE

Virgin has extended its brand into dozens of business areas including cola and jeans.

TRUE

The extremes on the relevance spectrum are ____________ and ____________. The middle of the spectrum belongs to ____________.

Trend neglectors, trend drivers, trend followers

Which of the following is not a competitive advantage included in brand loyalty: a. Reducing marketing costs b. Entry to barrier c. Increased name recall at time of purchase d. Satisfied customer base projects successful product e. Provides time to respond to competitive moves

c. Increased name recall at time of purchase