BA 370 Ch 11

family brand

A firm's own corporate name used to brand its product lines and products.

product mix

The complete set of all products offered by a firm.

If a brand has a high degree of brand ? , it means that most consumers are familiar with the brand and what it stands for even if they do not use the brand.

awareness

The set of assets and liabilities linked to a brand that add to or subtract from the value provided by a product or service is ? equity.

brand

The use of an existing brand name in a different product line is called brand Blank______. Multiple choice question. lengthening placement dilution extension

extension

The complete set of all products and product lines offered by a firm is called its product assortment, or product ? . (Enter one word in the blank.)

mix

The product Blank______ is the complete set of all products and services offered by a firm. Multiple choice question. line brand mix width category

mix

A ? is something that a customer values and that can be bought or sold voluntarily.

product

True or False: Brands are sold either under a common/family name or as an individual brand. True false question.TrueFalse

true

product

Anything that is of value to a consumer and can be offered through a voluntary marketing exchange.

breadth

Number of product lines offered by a firm; also known as variety.

sustainable packaging

Product packaging that has less of a negative impact on the environment.

core customer value

The basic problem-solving benefits that consumers are seeking.

co-branding

The practice of marketing two or more brands together, on the same package or promotion.

associated services

(also called augmented product) The nonphysical attributes of the product including product warranties, financing, product support, and after-sale service.

Which of the following is NOT one of the categories of consumer products that buyers use for their personal use? Multiple choice question. Associated products Convenience products Shopping products Specialty products

Associated products

consumer product

Products and services used by people for their personal use.

? packaging is better for the environment than traditional packaging.

Sustainable

product line

product line

brand licensing

A contractual arrangement between firms, whereby one firm allows another to use its brand name, logo, symbols, or characters in exchange for a negotiated fee.

private-label brand

Brand developed and marketed by a retailer and available only from that retailer; also called store brand.

What can be determined by looking at brand awareness, perceived value, brand associations, and brand loyalty? Multiple choice question. A brand's debt level A brand's major competitors Brand age Brand equity

Brand equity

cannibalize

From a marketing perspective, it is the negative impact on a firm's sales, profits, or market share when one product competes closely with a similar product offered by the same company.

Branding enables a firm to do which of the following? (Choose every correct answer.) Multiple select question. Reintroduce old products at a higher cost Make consumers aware of available products Differentiate its product offerings Eliminate advertising spending

Make consumers aware of available products Differentiate its product offerings

brand awareness

Measures how many consumers in a market are familiar with the brand and what it stands for; created through repeated exposures of the various brand elements (brand name, logo, symbol, character, packaging, or slogan) in the firm's communications to consumers.

A strong brand protects firms from which of the following? (Choose every correct answer.) Multiple select question. An overall drop in consumer demand New products offering similar features or benefits Changes in industry trends An existing competitor lowering prices

New products offering similar features or benefits An existing competitor lowering prices

retailer/store brands

Products developed by retailers. Also called private-label brands.

depth

The number of categories within a product line.

Branding provides a way for a firm to Blank______ its product offerings from those of its competitors. Multiple choice question. differentiate monetize license commoditize

differentiate

Brand repositioning is also known as Blank______. Multiple choice question. co-branding brand dilution rebranding brand licensing

rebranding

manufacturer brands (national brands)

Brands owned and managed by the manufacturer.

individual brands

The use of individual brand names for each of a firm's products.

Place these three steps marketers follow to develop or change a product into the correct order, with the first step at the top and the last step at the bottom.

1. Using core customer value to determine what customers are seeking 2. Making an actual physical product 3. Adding associated services

What does a brand need in order to be somewhat protected from competition from other firms and price competition? (Choose every correct answer.) Multiple select question. A hard plastic package A loyal customer base An established track record in the market A celebrity endorsement

A loyal customer base An established track record in the market

brand repositioning (rebranding)

A strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with changing market preferences.

Which of the following is an example of a brand extension? Multiple choice question. Acme sleds and Timberland boots Acme cars and generic pencils Acme barbecue potato chips and Acme salt and vinegar potato chips Acme chips and Acme dips

Acme chips and Acme dips

Examples of communication media that firms use to create brand awareness include which of the following? (Choose every correct answer.) Multiple select question. Advertising Low prices Publicity Licensed brands

Advertising Publicity

What are the four aspects analysts examine to evaluate brand equity? Multiple select question. Brand age Brand associations Brand awareness Perceived competition Brand loyalty Perceived value

Brand associations Brand awareness Brand loyalty Perceived value

What are products that household buyers use for their own use called? Multiple choice question. Loyalty products Consumer products Business products Ritual products

Consumer products

Which of the following factors help to increase a brand's equity? Multiple select question. Competition level Lower prices from competitors Customer loyalty Perceived value Brand awareness

Customer loyalty Perceived value Brand awareness

Typically, who determines the product's or service's value in relationship to that of its close competitors? Multiple choice question. Marketers Retailers Customers Manufacturers Suppliers

Customers

Brand awareness is MOST likely to influence purchasing decisions for which type of product? Multiple choice question. Goods purchased infrequently Goods never purchased before by the consumer Goods purchased frequently or habitually Goods that the consumer spends a lot of time researching

Goods purchased frequently or habitually

brand dilution

Occurs when a brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold.

brand loyalty

Occurs when a consumer buys the same brand's product or service repeatedly over time rather than buying from multiple suppliers within the same category.

Which traits are true of ALL products? (Choose every correct answer.) Multiple select question. Bought through an online distributor Offered through a marketing exchange Delivered directly to the consumer Something that a customer values

Offered through a marketing exchange Something that a customer values

unsought products/services

Products or services consumers either do not normally think of buying or do not know about.

shopping products/services

Products or services for which consumers will spend time comparing alternatives, such as apparel, fragrances, and appliances.

convenience products/services

Products or services for which the consumer is not willing to spend any effort to evaluate prior to purchase.

specialty products/services

Products or services toward which the customer shows a strong preference and for which he or she will expend considerable effort to search for the best suppliers.

What are the two basic types of brand ownership strategies? Multiple select question. Product brands Retailer/store brands Price brands Manufacturer brands

Retailer/store brands Manufacturer brands

How does brand licensing work? Multiple choice question. The licensor pays a royalty to the licensee to encourage them to use the licensor's brand. The licensee pays a royalty to the licensor in exchange for being able to use the licensor's brand. One division of the company shares revenues with another division in exchange for using the brand name in another product line. Two or more brands are marketed together on the same package or promotion and split the profits.

The licensee pays a royalty to the licensor in exchange for being able to use the licensor's brand.

brand association

The mental links that consumers make between a brand and its key product attributes; can involve a logo, slogan, or famous personality.

primary package

The packaging the consumer uses, such as the toothpaste tube, from which he or she typically seeks convenience in terms of storage, use, and consumption.

actual product

The physical attributes of a product including the brand name, features/design, quality level, and packaging.

perceived value

The relationship between a product's or service's benefits and its cost.

brand equity

The set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.

brand extension

The use of the same brand name for new products being introduced to the same or new markets.

line extension

The use of the same brand name within the same product line; represents an increase in a product line's depth.

secondary package

The wrapper or exterior carton that contains the primary package and provides the UPC label used by retail scanners; can contain additional product information that may not be available on the primary package.

What are the common forms of royalty payments in brand licensing? (Choose every correct answer.) Multiple select question. Technical support fees to implement the licensed product Up-front, lump-sum licensing fees Payments based on the stock price of the company selling the licensed merchandise Payments based on the value of licensed merchandise sales

Up-front, lump-sum licensing fees Payments based on the value of licensed merchandise sales

Which of the following are included in the ideas for sustainable packaging? (Check all that apply.) Multiple select question. Using 3D printing Adding recycled materials to packaging Adding more layers of plastic Using returnable packaging

Using 3D printing Adding recycled materials to packaging Using returnable packaging

How do marketers begin the process of developing or changing a product? Multiple choice question. Using the core customer value to determine customer interests Making the actual physical product Advertising features they hope to be able to include in the product Creating associated services

Using the core customer value to determine customer interests

Marketers can assess the level of brand Blank______ by measuring the extent to which consumers in a market are familiar with a brand, know what it stands for, and have an opinion about it. Multiple choice question. equity value awareness loyalty

awareness

The strategy in which marketers change a brand's focus to target new markets, or realign the brand with changing market preferences, is known as Blank______. Multiple choice question. co-branding brand licensing brand repositioning brand extension

brand repositioning

Firms are willing to spend lots of money, such as on very expensive Super Bowl ads, to market a brand in order to Blank______. Multiple choice question. build brand awareness overwhelm consumers perception be competitive in commodity markets be able to develop the brand personality over time

build brand awareness

One of Taco Bell's most successful new products has been its "Doritos Locos Tacos," tacos with shells in the flavors of Doritos taco chip varieties. This is an example of Blank______. Multiple choice question. brand repositioning co-branding generic branding brand dilution

co-branding

The practice of marketing two or more brands together on the same package or promotion is known as Blank______. Multiple choice question. co-branding brand extension brand dilution brand licensing

co-branding

Brands are assets that a firm can build and harness over time to increase its Blank______. Multiple choice question. consumer trust equity marketing expenditures liabilities

equity

The value of a brand can be calculated and compared to other brands in the form of brand Blank______. Multiple choice question. profitability loyalty equity assets

equity

Kellogg's sells a variety of products under its Kellogg's name brand then identifies groups of products with a secondary name such as Raisin Bran or Froot Loops, each in several sizes and versions. In the given scenario, Kellogg's is a(n) Blank______ brand. Multiple choice question. corporate family individual private-label

family

When a firm sells all its products under one Blank______ such as Pepperidge Farm, the individual brands benefit from the overall brand awareness associated with it. Multiple choice question. premium brand individual brand exclusive co-brand family brand

family brand

The component of the product package that provides the information consumers need to make their purchase decisions and for proper consumption of the product is known as the Blank______. Multiple choice question. label primary package message built in package

label

From the customer's perspective, the relationship between a product's or service's benefits and costs is called Blank______. Multiple choice question. perceived brand brand equity brand awareness perceived value

perceived value

For most products, the label is used for Blank______. Multiple choice question. branding and packaging promotion and branding packaging and manufacturing information promotion and licensing

promotion and branding

A brand, such as T-Mobile, can build awareness through Blank______ exposure to the brand's logo, symbols, and slogans. Multiple choice question. expensive concentrated repeated limited

repeated