WEEK 6

Brand repositioning is also known as ______.

rebranding

Doritos' new color scheme and bold logo are part of its

rebranding strategy

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

repeated

What product type is Perfume?

shopping product

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

A loyal customer base An established track record in the market

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

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.) Advertising Publicity Licensed brands Low prices

Advertising Publicity

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

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

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

Associated products

What is the branding strategy of Colgate Toothbrushes?

Brand Extension

What is the branding strategy of KFC and Taco Bell?

Co-branding

What are products that household buyers use for their own use called?

Consumer products

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

Differentiate its product offerings Make consumers aware of available products

What is the branding strategy of Kelloggs Cereal's?

Family brand

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

Goods purchased frequently habitually

What is the branding strategy of Famous Amos Cookies?

Individual brand

What is the branding strategy of Prada-designed LG Cell Phone?

Licensed brand

What are the two basic types of brand ownership strategies?

Manufacturer brands Retailer/store brands

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

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

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

Offered through a marketing exchange Something that a customer values

Which of the following help to increase a brand's equity? (Choose every correct answer.) Competition level Lower prices from competitors Perceived value Brand awareness Customer loyalty

Perceived value Brand awareness Customer loyalty

____ packaging is better for the environment than traditional packaging.

Sustainable

Which of the following describes the core customer value of a product? The price range Product warranties and financing Attributes such as design/features, quality level, and packaging The basic benefits consumers are seeking

The basic benefits consumers are seeking

Which of the following refers to the basic problem-solving benefits that consumers seek in a product? Augmented product Associated services The actual product The core customer value

The core customer value

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

True

What product type is Life Insurance?

Unsought product

Ideas for sustainable packaging include which of the following? (Choose every correct answer.) Using returnable packaging Adding more layers of plastic Using 3D printing Adding recycled materials to packaging

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

Marco loves making things by hand. He recently created a dog collar made from upcycled leather that he later sold to a local pet store. This dog collar is an example of

a product item

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

Marketers can assess the level of brand ______ 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.

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

Frito-Lay's spending on advertising and promotion of Doritos' taste and smell was designed to create

brand associations.

A contractual arrangement between firms where one firm allows another to use its brand name, logo, symbols, and/or characters in exchange for a negotiated fee is called ______.

brand licensing

When K-Mart paid Martha Stewart (famous for her business related to lifestyle and the home) a fee in return for permission to introduce a line of towels and other housewares bearing Stewart's name, it was an example of ______.

brand licensing

Consumers' trust for Frito-Lay's brands leads to

brand loyalty.

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 ______.

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 ______. be competitive in commodity markets be able to develop the brand personality over time overwhelm consumers perception build brand awareness

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 ______.

co-branding

The practice of marketing two or more brands together on the same package or promotion is known as ______.

co-branding

Branding provides a way for a firm to differentiate its product offerings from those of its

competitors

Brand awareness measures how many _____ in a market are familiar with the brand.

consumers

What product type is milk?

convenience product

The customers love Marco's handmade dog collars. What does Marco do to transform this product item into a product line?

creates more dog collars of varying patterns and colors

Typically, who determines the product's or service's value in relationship to that of its close competitors?

customers

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

equity

The value of a brand can be calculated and compared to other brands in the form of brand ______.

equity

Marco ultimately decides to expand his product mix by offering rain booties made from the same upcycled leather and fabric as his dog collars and sweaters. This strategy is known as

expansion of product mix breadth.

The use of an existing brand name in a different product line is called brand ______.

extension

Apple sells the majority of products under its Apple name brand. This is known as a(n)______ brand.

family

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. Froot Loops is known as a(n) ______ brand.

family

The complete set of all products and product lines offered by a firm is called its product assortment, or product _____.

mix

The product ______ is the complete set of all products and services offered by a firm.

mix

Marco sees how well his dog collars and dog sweaters are selling, so he decides to expand his product mix. He considers doing this by expanding his product line depth, which means

offering dog collars and sweaters in different sizes and for different breeds.

From the customer's perspective, the relationship between a product's or service's benefits and costs is called ______.

perceived value

The relationship between the benefits and cost of Doritos is called

perceived value.

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

product

Marco's dog collars are such a success that he decides to add a new product line of dog sweaters, thus creating a

product mix.

What product type is Limited Edition Ford Mustang?

specialty product