Ch. 11

What does a brand need in order to be somewhat protected from competition from other firms and price competition? (Choose every correct answer.)

A loyal customer base An established track record in the market

Which of the following is an example of product line extension?

Coke, in addition to its existing Diet Coke flavors, introduces chocolate-flavored Diet Coke.

What are the two basic types of brand ownership strategies?

Manufacturer brands Retailer/store brands

Which traits are true of ALL products? (Choose every correct answer.)

Offered through a marketing exchange Something that a customer values

Which of the following describes the core customer value of a product?

The basic benefits consumers are seeking

The mental link customers make between a brand and its key product attributes is known as brand ______.

associaton

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

brand equity includes

brand awareness, perceived value, brand associations, brand loyalty

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 licensing

A firm's product mix _____ represents the number of product lines offered by the firm.

breadth

Consumer packaged goods companies sell products across many different product lines. These companies have significant ______ in their product mixes.

breadth

A strong brand does not protect firms from which of the following?

changes in industry trends and an overall drop in consumer demand

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

Brands are assets that a firm can build and harness over time to increase its ______.

equity

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

equity

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

extension

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

family

When a firm sells all its products under one ______, such as Pepperidge Farm, the individual brands benefit from the overall brand awareness associated with it.

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 ______.

label

The use of the same brand name within the same product line is called a(n) ______.

line extension

A product mix typically consists of product ______, or groups of associated items.

lines

The product ______ is the complete set of all products and services offered by a firm.

mix

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

perceived value

For most products, the label is used for ______.

promotion and branding

Which of the following refers to the basic problem-solving benefits that consumers seek in a product?

the core customer value

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

true