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