Smartbook: Chapte 14

Whether you are building a brand for your firm's product or your own personal brand, the process involves how many essential components?

4

Which of the following shows how social media can utilize customers as brand advocates?

A company encourages customers to post pictures of themselves promoting its brand and the lifestyle it represents.

Which of the following exhibits how the components of a successful brand benefit a firm internally?

A strong brand drives cohesion. A strong brand helps a firm build the capacity and skills to implement its mission.

Which of the following exhibits how the components of a successful brand benefit a firm internally? (Check all that apply.)

A strong brand drives cohesion. A strong brand helps a firm build the capacity and skills to implement its mission.

Which of the following are used to calculate customer lifetime value? (Check all that apply.)

Average retention time Repeat transactions per year Average value of a sale

Which of the following are common brand strategies

Brand extension Co-branding Brand revitalization

Which of the following are quantitative research techniques for measuring brand equity?

Brand recall Brand recognition

According to your text, how does packaging contribute to the quality of a brand?

By allowing the product and its package to form a coherent whole that is consistent in its message

How does having a strong brand help a firm externally?

By building trust among the firm's constituents

Which of the following are ways in which social media can support the goal of building a successful brand?

By generating positive word-of-mouth about the brand on social networks By allowing a firm to develop deeper relationships with customers

How does a firm determine which research method for measuring brand equity is most appropriate?

By weighing the costs of gathering the research to the benefits gained from the research

Which of the following are the four essential components of building a successful brand?

Capture feedback Deliver a product that provides value Create consistent brand messaging Create a consistent brand image

A firm that uses a variety of marketing research tools to better understand the thoughts, feelings and concerns of its customers is utilizing which element of creating a successful brand?

Capturing feedback

A firm that decides to increase its own brand equity by leveraging the equity of another brand is utilizing what type of brand strategy?

Co-branding

Which of the following are ways in which brand marks can be expressed?

Colors Designs Symbols

In measuring brand equity, the general idea behind the ________-__________technique is to ask consumers what comes to mind when they think about a firm's brand. This technique gives marketers insight into what consumers think of the firm's brand and whether consumers' associations are consistent with the firm's marketing mix strategies.

Free association

Young and Rubicam's BrandAsset Valuator suggests that brand equity is based on which of the following dimensions?

Knowledge Esteem Differentiation Relevance

According to your text, which of the following allows you to identify and measure your own level of brand equity?

Performance reviews with supervisors Casual conversations with colleagues

Of the following, which are qualitative research methods?

Projective techniques Free association

________ research is particularly helpful in identifying the sources of brand equity and its role in consumer decisions.

Qualitative

Brand recall and brand recognition research are two common ________ research techniques.

Quantitative

What is the biggest challenge in global branding?

Remaining easily recognizable at any location while remaining compatible with the local culture and traditions

According to your text, which factor enhanced the marketing value of U.S. brands in the global marketplace?

The American economy rebounded from the financial crisis that began in 2007 at a faster pace than many European countries.

When building a successful brand, which of the following should a firm look to achieve regarding its brand message?

The brand message should remind consumers about the product attributes they care about most. The brand message should be consistent and concise. The brand message should be easy to remember.

Which of the following criteria are used in ranking a global brand?

The role the brand plays in influencing consumers The financial performance of the branded product The ability of the brand to draw a premium price or significantly impact the company's profits

What is brand equity?

The value a firm derives from consumers' positive perception of its products

advantages to using tools like Google Alerts and Social Mention to monitor a firm's social brand

They are easy to set-up. They are relatively inexpensive to use. They allow firms to recognize potential threats to their brand quickly.

As a component to building a successful brand, the product should attract a positive reaction from consumers. According to your text, this can be accomplished by which of the following? (Check all that apply.)

Through the way a product is delivered Through a product's packaging By the value the product offers consumers

Which of the following would be considered ineffective packaging of your personal brand when embarking on a job interview?

Unprofessional attire Poor grammar in your correspondence Typographical errors on your resume Arriving late for the interview

What two facets of nonprofit organizations makes branding more critical for them as compared to for-profit organizations?

Varied audiences Complex goals

A marketer for a well-known brand of ice cream asks consumers "If our ice cream were a car, what kind of car would it be?" This is an example of _______.

a projective technique

So as not to confuse customers, brand messaging should _______.

be consistent on consice

For current, former, and potential customers, a(n) _________ represents everything that a good, service, or idea means to them.

brand

Your text defines a(n) _______ as the name, term, symbol, design, or any combination of these that identifies and differentiates a firm's products.

brand

On a personal level, having a high personal ____________ ____________ translates into a larger salary and more career opportunities similar to how it increases a firm's ability to succeed in a difficult competitive environment.

brand equitiy

Having a high level of ______-_________ is most helpful in facilitating a brand's expansion into new markets.

brand equity

On a personal level, having a high personal ____ _____ translates into a larger salary and more career opportunities similar to how it increases a firm's ability to succeed in a difficult competitive environment.

brand equity

After Trevor bought his first pair of Levis, he was pleased that he did. He likes the feel of the jeans and the way they fit. Even though there are many brands to choose from, Trevor is certain he will continue buying Levis for years to come. In terms of brand equity, this exemplifies the fact that _______.

brand equity increases a firm's ability to succeed in a difficult competitive environment

Companies that already possess a strong brand and wish to take that brand name into a different product category would pursue a _______ strategy.

brand extension

A company that promotes its products as being environmental friendly but then uses excessive amounts of non-recyclable material to package its products doesn't understand how packaging serves to reinforce a company's ______ - _______.

brand image

When a consumer displays a steadfast allegiance to a brand by repeatedly purchasing it, that consumer is exhibiting

brand loyalty

Marketers who give consumers a set of single product names, images, or slogans in a survey and ask them to identify which items they've previously seen or heard of are attempting to measure _______ _________

brand reecognition

Gucci is a well-known luxury brand. The company's brown embossed bags and boxes, complete with a gold ribbon, communicate to the customer that the brand is classy and sophisticated indicating how packaging _____.

can promote a firm's brand image

A problem associated with a brand extension strategy, _________ occurs when the new product takes sales away from the firm's existing products rather than generating additional revenues through new sales.

cannibalization

Natalie sells her homemade candles at local craft fairs. She decided to expand her product line to include fragrance diffusers as well. Natalie is noticing that customers are buying the diffusers more than the candles. She thought that adding the line of diffusers would increase her sales, but this has not happened, in fact, sales have decreased slightly. This is most likely due to _______.

cannibalization

Which element of building a successful brand would most likely engage customers through the use of social media tools?

capture feedback

A potential downside to _______ is if one of the brands involved receives negative publicity that would affect the other brand.

co-branding

In today's world, a marketer is best positioned for success if he or she can _______.

connect with customers through the use of social media

As a marketer, Jared is in charge of building his firm's brand. While meeting with his marketing team, he tells them that in order to build a successful brand, it is crucial that all of their marketing decisions, promotions, and employees reinforce the brand by providing a(n) _____ experience in the minds of consumers.

consistent

The maker of Monster energy drinks promotes its brand as a drink for young males who love extreme action and motor sports. If the company decided to promote its product at women's figure skating events, it would be failing to _______.

create a consistent brand image

Constantly offering discounts and specials has the potential to _______ a brand and its relationship with its customers.

devalue

Green motivated individuals make purchase decisions based on concern for the

enviornment

Disney spends millions of dollars each year promoting their brand and they enjoy the value derived from the consumers' positive perception of its products. This demonstrates the idea of brand _______.

equity

In a brand revitalization strategy, a firm seeks to recapture lost sources of brand _________ and identify and establish new sources of the same.

equity

When consumers think that a brand is positively thought of and highly regarded by others, they are exhibiting the _______ dimension of the BrandAsset Valuator.

esteem

When consumers think that a brand is positively thought of and highly regarded by others, they are exhibiting the __________ dimension of the BrandAsset Valuator.

esteen

A brand ________ strategy enables new products to profit from the recognition and acceptance the brand already enjoys.

extension

True or false: Customers always react positively when a firm attempts to change its logo in an attempt to better resonate with its customers.

false

Since the real power of a brand exists in the minds of consumers, marketers must always capture and analyze customer ________

feedback

A firm that builds its brand as high quality, luxury, and exclusive wants to know if consumers feel the same way when they think about the brand. In order to measure this, the marketing team assembles a group of consumers to ask them what comes to mind when they think about the firm's brand. This use of _______ allows marketers to see if consumers associations with the brand are consistent with the firm's marketing mix strategies.

free association

Brett has assembled a group of consumers to help him measure the equity of his firm's brand. He asks the participants to list what comes to mind when they hear the name of the brand. This technique is called _______.

free association

In measuring brand equity, the general idea behind the ________ __________ technique is to ask consumers what comes to mind when they think about a firm's brand. This technique gives marketers insight into what consumers think of the firm's brand and whether consumers' associations are consistent with the firm's marketing mix strategies.

free association

In measuring brand equity, the general idea behind the _______ __________ technique is to ask consumers what comes to mind when they think about a firm's brand. This technique gives marketers insight into what consumers think of the firm's brand and whether consumers' associations are consistent with the firm's marketing mix strategies. Listen to the complete question

free recall

A firm that engages its customers with social media activities as part of its marketing strategy helps to build its brand by developing deeper relationships with customers and by _______.

generating positive word-of-mouth communication about the brand across social networks

A(n) _______ brand is a brand that is marketed under the same name in multiple countries.

global

Coca-Cola sells its products all over the world under the same name. Based on the definition provided in your text, Coca-Cola is considered to be a(n) _____.

global brand

As a way to measure a social brand, _______ ______ allows firms to set up alerts about their company, good, service, or brand and receive an e-mail whenever they appear online.

google alerts

According to your text, a consumer who is driven to make purchase decisions based not only on environmentally friendly ingredients and manufacturing procedures but also on packaging materials is said to be _______.

green motivated

Brand ________ is the unique set of associations target customers or stakeholders make with a brand.

image

Ford Motor Company's advertising tag line "Built Ford Tough" highlights how the company's trucks are durable, strong, and built to last. As such, consumers equate Ford trucks with being "tough." The association that consumers make with the Ford brand is referred to as brand _______.

image

Brand equity _______ the likelihood that the consumer will purchase the firm's brand rather than a competing brand.

increases

Brand-loyal customers are important contributors to a firm's long-term success and profitability because they typically exhibit _______.

less price sensitivity

The total amount a customer will spend from acquisition through the end of a relationship with a brand is referred to as customer _______.

lifetime value

On the grocery store shelf at Whole Foods, there are two types of yogurt. Dannon, which is a _______ brand, and 365 Everyday Value, which is a _______ brand produced and sold by Whole Foods.

manufacturer; private-label

The elements of a brand not expressed in words that a consumer instantly recognizes, such as a symbol, color, or design are called brand _______.

marks

When choosing a brand strategy, marketers aim to _______ their brand equity, without _______ profits or damaging the attractiveness of the brand.

maximize; diluting

Belinda owns a small company that makes cookies and cupcakes. Since her company is small, she does not have the budget to advertise her product on television, the radio, or in newspapers. Belinda is not worried however, since she knows that she can get consumers' attention with the attractive box her products come in. She plans to build her brand through the _______ of her product

packaging

Evol Foods manufacturers a line of frozen meals. Since the company strives to be eco-friendly, the bowls that its frozen meals are packaged in are 100% compostable and the company only uses 100% recyclable cardboard for its boxes and containers. This is an example of how _________ reinforces a firm's brand image.

packaging

Until she saw it on the store shelf, Shana had never heard of Paul's Pickled Herring. How did the maker of this product market the product to Shana?

packaging

When a retailer like CVS develops its own brand of allergy medicine to compete against Claritin and Benadryl, this is an example of a _______ brand.

private label

The Great Value brand of toilet paper, developed by Walmart and sold exclusively in its stores is an example of a _______ brand, while toilet paper produced by Charmin is a _______ brand.

private label; manufacturer

_____- _______ are tools used to uncover the true opinions and feelings of consumers when they are unwilling or otherwise unable to express themselves.

projective techniques

A jewelry firm that packages its product in velvet-lined bags and then places the bags in leather-like boxes is most likely using packaging to __________ its brand image as one of luxury.

promote

Another name for a brand revitalization strategy is_______

rebranding

A marketer is using a brand________ strategy if he or she asks consumers "When you think of a great tasting soft drink, what brands come to mind?"

recall

Brand __________ measures can be used to determine whether consumers consider the firm's brand when they are planning to make a purchase and, if so, whether they think of the firm's brand before they think of competing brands.

recall

Brand ________ research helps marketers understand which brands stand out in a consumer's memory and what the strength of his or her association is with the brand.

recognition

Brand loyalty and brand __________lead to more revenue for for-profit firms.

recognition

Camille was grocery shopping with her 3-year old son. When they entered the cereal aisle, her son exclaimed "Look, Tony the Tiger! Can we get some Frosted Flakes, please?" This is most likely an example of brand _______.

recognition

For years, Tropicana used the image of a straw embedded into an orange on its cartons of orange juice. Customers could easily identify the brand by this image, so when the company changed the image to a simple glass of orange juice, customers reacted negatively---going so far as to say the image was "ugly" and reminded them of a "generic bargain brand." This is an example of how important it is for a company to have an image or logo that promotes brand

recognition

Private-label brands are products developed and sold by a specific

retailer

Fill in the Blank Question Fill in the blank question. Red Mango wants its customers to be creative when ordering its frozen yogurt desserts by varying the flavors and toppings they choose. It encourages customers to post pictures of their creations on both Facebook and Instagram. In this way, Red Mango is using ______ media as a way to help brand its product. Listen to the complete question

social

Recent data from the Nielsen research firm show that 60% of consumers researching products through online sources learned about a specific brand or retailer through _______.

social networking sites

Elana is a personal blogger and spends a great deal of her time on social media sites. She actively manages her Facebook, Twitter, tumblr, and YouTube accounts and regularly checks in with Foursquare. All of this has resulted in Elana having a high Klout score. Based on this, firms would consider Elana to be a(n) ________ _________

super influencer

A company will balance the costs of research against the benefits of insights uncovered to choose _______.

the tools to measure brand equity

In brand recognition research, what technique do marketers employ to tell if consumers are truly able to identify the brands they have seen and distinguish between those brands and the brands they have not yet been exposed to?

the use of decoys

True or false: The major downside to co-branding is the potential that negative publicity on the part of one brand, could affect the other brand in a negative way as well.

truww

Co-branding involves _______.

two companies issuing a single product

In addition to devaluing the brand, firms that constantly offer discounts and specials risk the chance that they may be _______ the product, thereby reduce its potential profits.

underpricing

Firms who want to build a successful brand should seek to have their products attract a positive reaction from consumers. If a consumer does not perceive __________ in using a particular product, he or she will not remain a customer for very long.

value