MKTNG CH 9-10 Branding

Which of the following elements of package labeling do consumers find particularly helpful?

Initial use instructions Product precautions Assembly information

__________ of a service means it is produced and consumed at the same time and cannot be separated from its provider.

Inseparability

Which of the following does perceived quality of product provide to the sponsoring company?

price premium opportunity extend product range differentiation in the market

Elba's new blouse had a label that said it was guaranteed not to shrink or fade as long as it was dry cleaned and not hand-washed. This is an example of a ________ warranty.

Specific

Coordination must exist between the product package and all other marketing mix elements and is an extension of the product's marketing

Strategy or plan

Which of the following are customer advantages resulting from brand associations?

Strong brands generate a more positive attitude toward the product. Customers process, store, and retrieve product information by brand, which is a big advantage for strong brands.

Family branding

Synergy among members of a brand family, but a negative event with one product often leads to negative publicity for the entire brand family.

Which of the following are customer brand roles?

The brand helps reassure the customer in the purchase decision. The brand educates the customer about the product. The brand conveys information about the product.

Which of the following are company brand roles? Select all that apply.

The brand offers an effective and efficient methodology for categorizing products. The brand offers legal protection for the product through a trademark.

Brand awareness

The most basic form of brand equity is simply being aware of the brand. Awareness is the foundation of all other brand relationships. Signals a familiarity and potential commitment to the brand.

Which of the following are distinct benefits of perceived quality to the company?

The perception of quality enables companies to extend the product range. The perception of quality can lead to a price premium opportunity. The perception of quality is an excellent differentiator in the market.

Variability of a service refers to the fact that the quality of service can only be as good as ________.

The quality of the provider

Brand loyalty

The strongest form of brand equity and reflects a commitment to repeat purchases. Enables a company to reduce marketing costs and leverage trade relationships.

A customer's equity with a brand is the difference between the perceived benefits and costs associated with the brand.

True

Which of the following are three basic axioms that support the contemporary service-dominant logic?

Value is defined by the customer. Value is co-created by multiple parties, including the company and the customer. Service is the fundamental basis of exchange.

Store brand

a brand created and owned by a reseller of a product or service

Service

A product in the sense that it represents a bundle of benefits that can satisfy customer wants and needs, yet it does so without physical form.

Brand equity

A set of assets and liabilities linked to a brand's name and symbol that adds to (or subtracts from) the value provided by a product or service to a firm or that firm's customers. Perceived quality, brand connections, and brand loyalty are all benefits

Which of the following are benefits of brand equity? Select all that apply.

Brand Connections Brand Loyalty Perceived Quality

Sony has a better opportunity to reach the potential Millennial market segment, compared to unestablished manufacturers, because of its

Brand equity

A summary of unique qualities attributed to the brand is called:

Brand identity

Perceived quality

Brands convey a perception of quality that is either positive or negative. Differentiate the product and create higher price points.

Brand assets

Brands possess other assets such as trademarks and patents that represent a significant competitive advantage.

National brands

Brands that are sold around the country under the same brand.

Typically, the package label is the last marketing opportunity before the customer purchases; therefore, as much label space as possible is allocated to marketing

Communication

Extending the product range, price premium opportunity, and differentiation in the market are benefits to the _________ from perceived high quality of a brand.

Company

When a company is designing its packaging, the challenge is balancing how much product protection to offer with its associated

Cost

Conveying information about the product, educating the customer about the product, and reassuring the customer in the purchase decision are all elements of __________ brand roles.

Customer

Which of the following are benefits of brand loyalty and represent real market advantages to the brand sponsor?

Customers are forgiving, which enables companies to respond to a negative customer experience. Customers are vocal and tell others about their experiences. It gives sponsors additional channel leverage. It reduces long-term marketing costs.

Brand association

Customers develop a number of emotional, psychological, and performance associations with a brand. A primary purchase driver.

Brand

Defined by the American Marketing Association as a "name, term, design, symbol, or any other feature that identifies one seller's goods or services as distinct from those of other sellers."

Product packaging showing the product being used by a happy customer or visually demonstrating a product are ways in which package ________ promotes product usage.

Design

Product packaging showing the product being used by a happy customer or visually demonstrating a product are ways in which package ___________ promotes product usage.

Design

Sony's full spectrum of product offerings, including Walkman portable music players and Playstation entertainment consoles, are introduced under the Sony brand. This a ________ strategy.

Family branding

Because a service can't be stored or saved up for future use, __________ demand is related to perishability of services.

Fluctuating

The package _________ allocates dominant space to brand name, logo, product image, and other relevant marketing messages.

Label

Which of the following are basic strategic decisions in defining a brand?

National or store branding Licensing Stand-alone or family branding Co-branding

Licensing

Offering other manufacturers the right to use the brand in exchange for a set fee or percentage of sales.

The most important function of packaging is to ________ the product.

Protect

After months of in-home research, Kraft discovered that its customers often transferred Chips Ahoy cookies to jars to keep them from going stale. The company solved this problem by creating a patented resealable opening on the top of the bag. This is an example of the ________ objective of package design.

Protection

Jobs represented in the ________ _________ of the economy include such important categories as intellectual property, consulting, hospitality, travel, law, health care, education, technology, telecommunications, and entertainment.

Service sector

Which of the following are ways in which package design can promote product use? Select all that apply. Multiple select question.

Shows the product being used by a happy customer. Visually demonstrates a product. Visibly presents and protects the product.

Brand strategy

an integral part of the product development process because companies know that successful new products result from a well conceived branding strategy.

Co-branding

joins two or more well known brands in a common product or takes two brands and markets them in partnership

Category extension

marketers use the parent brand to enter a different product category

Which of the following are types of co-branding relationships?

multiple companies come together to create a new branded product a company combines two of its own products joint venture between two companies

Stand-alone brands

separate the company from the brand, which insulates the company if there is a problem with the brand

The new ___________ for marketing implies a shift in worldview from the traditional goods versus services dichotomy to recognition that customers do not buy goods or services. These customers buy offerings which render services which create value.

service-dominant logic