Mktg Ch 9

What is a brand?

A name, term, sign, symbol, or design, or a combination of these elements, intended to identify the goods or services of one seller or groups of sellers and to differentiate them from those of competitors.

What is 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.

What is brand identity?

A summary of unique qualities attributed to a brand.

What are store brands?

Brands created by retailers for sale only in their store locations.

What are stand-alone brands?

Brands created to be separate from a company brand that can insulate the company if there is a problem with the brand.

What are general warranties?

Broad promises about product performance and customer satisfaction.

What are specific warranties?

Explicit product performance promises related to components of the product.

What is co-branding?

Joining of two or more brands in a common product.

________brands enable manufacturers to leverage marketing resources by creating efficiencies in marketing communications and distribution.?

National

What are brand assets?

Other assets brands possess such as trademarks and patents that represent a significant competitive advantage.

What are national brands?

Products created, manufactured, and marketed by a company and sold to retailers around the country and the world.

What is perceived quality?

The conveyed perception of quality of a brand that is either positive or negative.

What is family branding?

The creation of brands that have synergy between them in terms of the overall company brand.

What is 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.

What is brand loyalty?

The strongest form of brand equity and reflects a commitment to repeat purchases.

What is brand strategy?

The unique elements of a brand that define the products sold by a firm.

What is licensing?

When a firm offers other manufacturers the right to use their brand in exchange for a set fee or percentage of sales.

What is category extension?

When a firm uses its brand to expand into new product categories.

What is brand association?

When customers develop a number of emotional, psychological, and performance associations with a brand. These associations become a primary purchase driver, particularly with brand loyal users.

Staff Tissues Inc. decided to change the color of its tissue box from red to blue because blue was thought to be more visually pleasing to consumers at the time of purchase. The change in color represents the ________ aspect of packaging.?

aesthetic

With brand ________, customers develop a number of emotional, performance, and psychological connections with a brand.

association

A(n) ________ is 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."?

brand

The most basic form of brand equity is?

brand awareness.

A company is the market leader in the manufacture of farm equipment. Because of the strength of its brand, other competitors are finding it difficult to successfully enter the marketplace. Which benefit of brand equity for brand sponsors does this exemplify?

brand connections

The marketing manager of a food packaging company is working on the package for a new line of self-steaming microwaveable vegetables. The manager wants the package to show a physically fit individual happily eating the product in order to make customers believe it is a good product for them. In this case, on which objective of packaging is the marketing manager focusing?

connect to the customer

When customers see the logo of Sanchez's restaurant, they think of food served quickly in a clean, family-friendly environment. Which customer brand role does this exemplify?

conveying information about a product

Recently, Mercedes-Benz quietly reduced its warranty coverage by eliminating some free scheduled maintenance because the expense for the firm was too high. At the same time, Hyundai and others have expanded their warranties to build consumer confidence in their cars. They realize that extending the period of warranty coverage demonstrates they are making better cars in a very tangible way. These are examples of firms considering the ________ of product warranty.?

costs versus benefits

The marketing team for an alcoholic beverage company decided that all of the products the company produced would carry the same brand name of Nightlife. As a result, there is Nightlife Ale, Nightlife Lager, Nightlife Vodka, Nightlife Tequila, and Nightlife Whiskey. This is an example of ________branding.?

family

Nickelodeon and Marriott were going to partner to create a kid-friendly chain of vacation-oriented hotels with Nickelodeon-themed water parks. Which approach to co-branding does this exemplify?

joint venture

Hazardous materials such as cleaning products, pesticides, and many other items require 14 different pieces of information be included on the label. This is an example of the ________ requirements of labeling.?

legal

The Food and Drug Administration requires all processed-food companies to provide detailed nutritional information clearly identifying calories, fats, carbohydrates, and other information. This is an example of the ________requirements of labeling.?

legal

On a box of Procter & Gamble's Bounce fabric softener sheets, the brand name "Bounce" takes up the dominant space on the label and the rest of the space is a bright color (orange) with clean fresh images of a sun rising and a green field. This is an example of the ________ requirements of labeling.?

marketing

The owner of a consumer products company is working with an art designer on the label for a new line of herbal-scented detergents. They are trying to come up with the most eye-catching way to place the brand and logo along with the other required information on the label. They are working on the ________requirements of labeling.?

marketing

RB Soaps sells its products in every state under the same brand. This is an example of ________branding.?

national

A company's brand role includes?

offering an effective and efficient methodology for categorizing products.

The manufacturer of Fast Peddle Bikes offers a warranty that states that the gear-shifting mechanism for its product will work consistently and be free of mechanical defects for five years. This is an example of a(n) ________ warranty.?

specific

Unilever, a worldwide leader in consumer products, follows a brand strategy in its personal care division with 21 brands (AXE, Dove, Noxzema, Ponds, etc.) that operate independently of one another. This is an example of ________ branding.?

stand-alone

Super-Mart decides to create its own brand of personal care products. It enters into an agreement with a large manufacturer of this type of product to supply Super-Mart with the products that will carry Super-Mart's name. This is an example of ________ branding.?

store