Chapter 1: The business of brands

True or False: A brand manager acts as the CEO of a brand.

True

According to the chapter, when did people begin asking how to quantify the value of a brand? Why?

1980s; companies and investors began consolidating brands

Brands date back as far as ________.

578 AD

True or False: Branding is a huge business but has not grown much in the past 20 years.

False

True or False: Brands are primarily built through product features and upgrades.

False

True or False: Strong brands have two or three hyper-focused ideas behind them.

False

This is the expression of a brand through name, logo, colors, etc.

Brand Identity

________ is the percentage of all sales in the product category that your brand achieved.

Brand market share

What does the chapter present on the topic of building brands?

Brands can make bold promises when the wants and needs of consumers are understood.

What is the example used in the chapter to describe the difference between a product and a brand?

Tap water is a product; Evian is a brand.

True or False: Apple has been the most valuable brand every year since 2013, according to Interbrand.

True

True or False: Brand image is the image the customer has of a brand as a result of experience with product performance, brand communications, and its advertising.

True

True or False: Of the 17 brands that make up the Ralph Lauren Corporation, most have Ralph's name or initials in the name.

True

True or False: People can be brands.

True

According to the chapter, who ultimately decides what the brand means or doesn't mean in consumers' lives?

the consumers