MKT 300 Chapter 11

Branding provides a way for a firm to ______ its product offerings from those of its competitors. license monetize differentiate commoditize

differentiate

Brand repositioning is also known as: rebranding brand licensing brand dilution co-branding

rebranding

What are the two basic types of brand ownership strategies? product brands price brands retailer/store brands manufacturer brands

retailer/store brands manufacturer brands

Which statements are true of ALL products? Delivered directly to the consumer Bought through an online distributor Something that a customer values Offered through a marketing exchange

Something that a customer values Offered through a marketing exchange

For most products, the label is used for ______. promotion and licensing packaging and manufacturing information promotion and branding branding and packaging

promotion and branding

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

repeated

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

customers

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

equity

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

equity

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

extension

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

family

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 ______. marketing message built in package label primary package

label

Which of the following help to increase a brand's equity? (Select all that apply.) Brand awareness Lower prices from competitors Competition level Perceived value Customer loyalty

Brand awareness Perceived value Customer loyalty

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

True

Examples of communication media that firms use to create brand awareness include which of the following? licensed brands advertising low prices publicity

advertising publicity

Branding provides a way for a firm to ______ its product offerings from those of its competitors. license commoditize differentiate monetize

differentiate

A strong brand protects firms from which of the following? (Select all that apply.) An existing competitor lowering prices 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

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

Goods purchased frequently habitually

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

Make consumers aware of available products Differentiate its product offerings

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

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

Ideas for sustainable packaging include which of the following? Returnable packaging Adding more layers of plastic Using 3D printing Using recycled materials in packaging

Returnable packaging Using 3D printing Using recycled materials in packaging

Ideas for sustainable packaging include which of the following? Returnable packaging Using recycled materials in packaging Using 3D printing Adding more layers of plastic

Returnable packaging Using recycled materials in packaging Using 3D printing

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

The basic benefits consumers are seeking

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

family

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

perceived value

Which of the following is an example of a brand extension? 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

Acme chips and Acme dips (If Acme is known for making chips, adding a dip under the same brand name is known as a brand extension)

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

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 individual corporate private-label

family

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

An established track record in the market A loyal customer base

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

An established track record in the market A loyal customer base

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

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

Goods purchased frequently habitually

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

The basic benefits consumers are seeking

Which of the following describes the core customer value of a product? Product warranties and financing Price range 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? The augmented product Associated services The core customer value The actual product

The core customer value

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

The core customer value

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.. value awareness equity loyalty

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 value of a brand can be calculated and compared to other brands in the form of ______. brand loyalty brand profitability brand assets brand equity

brand equity

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

brand equity

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 extension brand repositioning brand licensing co-branding

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 extension co-branding brand licensing brand repositioning

brand licensing

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 extension brand repositioning co-branding brand licensing

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

build brand awareness

Firms are willing to spend lots of money, such as on very expensive Super Bowl ads, to market a brand in order to ______. to overwhelm consumers perception be competitive in commodity markets be able to develop the brand personality over time 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 brand dilution brand repositioning generic branding

co-branding

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

co-branding

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

consumer products

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. width mix line brand category

mix

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

product

______________ packaging is better for the environment than traditional packaging.

sustainable